Motorcycle gear does not get created just like that. It is not like someone waves a magic wand, and presto, you have got some new product. It takes time, resources, patience and most important, it takes imagination.
Many people have ideas for motorcycle related products. They can be out for a ride, and something happens to them or their bikes, and they think about some item that could solve the problem in the future. But going from idea to manufacturing is an enormous step. The step is so gigantic that 99.99% of the people do not even bother.
The thought of drawing up their idea, getting financing, making it, shipping it, etc. It’s a nightmare. But thanks to the internet, one of the biggest headaches in the life of a new product is now reduced; that of financing.
In the old days, if you wanted to make a new product, you needed to go to either a bank or an investor. But either way, you ended up leaving your shirt. Banks charge interest rates and investors want a piece of the action.
Today crowd funding has arrived and is giving the traditional financial institutions a run for their money. With web sites like Indiegogo and Kickstarter (and a few more), if you have an idea, you put the idea in one of these websites, and ask the crowd to help fund it.
How Does It Work?
Once you have designed your product/idea, calculated what it will cost you to make, you go to one of the crowd funding sites. Once you have entered your product and the total amount of money you will be looking for, you need to let people know what they can get when they pledge money.
This is where the nifty part of crowd funding comes in. People pledge money, they don’t transfer money directly. The only time money is taken from your bank account is when the financial goals are met. In other words, if Joe is looking for $20,000 to make Gismogritzers, any money pledged will only be taken from the people who have pledged once there is $20,000 in the pot.
The pledges are usually different amounts, and with each different amount, the rewards are different. A reward can be for example if you pledge $1, you can a hand written postcard, or for maybe for $2 your name is listed in the credits on a web site. In other words, you do not need to pledge much money. On the other hand, if the idea for a product is attractive, and you are interested in having that product, you will usually be able to pledge money to buy the product at a lower price than when it goes into production. A kind of “early bird special”. But remember, no matter how much you pledge, you will only need to pay if the target is met.
So the person who had the idea does not have to hand over equity in their new company, nor have to pay monthly interest rates to a bank.
What Kind Of Products?
There are many different kinds of motorcycle related products finding their way into crowd funding sites. From accessories, to new technology, to books, to charity, etc. For example, one idea that was funded last week is an interesting book about a guy named Karl Allan who travelled around the world on his motorcycle. Not only has he got very interesting stories to tell, but he also collected many local food recipes which he explains in his book, and shows you how to make it.
The book, entitled “Forks”, was put in the Kickstarter site for $20,000. In a few days (about a week), Karl managed to get the funds he needs to make, print, publish and distribute the book.
Another example was that of Joseph Campo in the United Kingdom. He wanted to make a web TV comedy series about a biker gang. He went to Kickstarter and got the funding to make the TV series (The Clandestine). He is now in his second season.
New motorcycle accessories can be found here as well. For example, Vololights, a way to warn drivers behind you that you are decelerating (by engine braking or down shifting), was looking for $50,000 to start production. They got $53,000.
But of course not all products find a crowd. Some may have a great new product idea but have not been able to sell the idea to the masses. Some have not so realistic financial goals, and a crowd will ‘feel’ this, and not bother.
But as you can see, it is not only a great way of putting new products out there, but also a great way for you to find something new and interesting.
Here are some of the crowd funding site that have motorcycle related items: