KickstarterForum.org

Hi everyone,

My name is Shun and I have been designing and developing exceptional premium aluminum + die cast materials tablet holders that not only space saving (when not in use), 360 degree viewing angle and any positions without using screws on the joints, charging capability, but also can dismount and dismount in seconds onto another tablet holder in another room!

I am pre-planning for my first ever Kickstarter campaign. I have read quite a lot of very helpful posts on this site. However, there are still a lot of detail info that I haven't been able to dig out. One of the toughest challenges is the "monetary goal." As my tablet products require lots of tooling, the initial cost will be tremendously high. In the case, how do I adjust/set my goal? This doesn't include the sunken costs up til today which is well over tens of thousands in prototype making.

Also, if you can help with details in making your successful projects will be greatly appreciated as well!

Thank you in advance for any input!

Shun

Add up all your costs production set up and the campaign costs, product material costs shipping, don't forget tax on any profit you make

Divide this by the number of backers you think you will get, this gives you the amount you need to charge to break even approximately.
Is this price that you will charge, a fair market value of the product you are offering? Can you increase it or do you need to significantly increase the backers you need to reduce the price point to make it viable cost wise.

Theres lots of advice out there but this might get you started..
https://mariancall.com/kickstarter-math-is-weird/

Hi RFIDSecur,

Thank you so much for your input! Yes, I understand having to include aforementioned items and etc. Due to the nature of tooling cost in the neighborhood of $400k+ with target price at $69.99/unit, assuming 15% profit margin, equates to at least 6,700 units in order to break even. This is a lot of units for a kickstarter campaign/backers, in my opinion. So far, I haven't seen any successful campaigns with such high number of backers/units sold.

Any thoughts?

Thanks again!
Shun

RFIDSEcure thanks again!

It seems like this is a company who has launched products before. Their campaign looks very well planned and organized. For example, the blogger, editors, and etc support... how did they get these support? Also, how did they get this many backer traffic?!

Thanks!
Shun

Perhaps, but that wasn't what you originally asked.

Thee is nothing stopping your campaign being planned and organised, find jorunalists and reach out to them with a story, they'd rather hear from the Creator than A PR company,

there is a lot of link building to be done, with influencers and bloggers.

Do your homework, listen to podcasts, research and reach out.
https://medium.com/swlh/every-resource- ... 5897f71bfd

Hi again!

Yes, I kinda branched out from the topic as more questions came up.

thanks for the link again!
Shun

Good project

Lots of good comments already. Shipping is huge and I've seen some underestimate it. Something also to consider that Kickstarter takes a fee, as well as the company they use to process the money. You can expect that about 9 to 10% of the money raised on Kickstarter will not be coming your way, including the money pledged for shipping.

A lot of people wonder about the difference between a project's internal and external goal. Today we'll discuss the External Goal. This is the one you show to everyone. The one that will be public on your Kickstarter or Indiegogo page. For your budget, this is the minimum amount of money you need funded to make your project a reality and delivering it to all backers. Is your public facing goal. The one that once it's achieved will allow you to move to the Internal Goal. Stay tunned because I'll talk about that soon.

Your hard work during the pre-launch phase might have you reach your external goal of $15,000 to print a batch of graphic novels within the first week. Once you reach that absolute minimum, tell your backers about your next goal and what you’ll do with the extra money raised. By getting your backers involved, the next few weeks you can set your sights on larger internal goals of $20,000, $25,000 or even beyond.

That’s where the difference comes in – the external goal is the one goal you absolutely need to hit in order to make the project come alive, while the internal goal is a warm welcome from extra backers and extra funding for your idea.

Now, to budget for your project and set your prices is a whole other topic.
You can learn more here https://crushcrowdfunding.com/how-to-pr ... o-rewards/