As an entrepreneur or a new small business owner, one of your biggest struggles may be trying to raise capital to fund your startup.
Having a steady cash flow is essential to a new business.
According to CB Insights, nearly 30% of companies fail because they run out of cash.
Perhaps you’re looking for a way to raise initial funds without as many strings attached.
If this is the case, check out Mixed Bag Designs.
Mixed Bag Designs provides business owners with the means to start a fundraiser within the local community.
Below, we’ll outline what Mixed Bag Designs is, what goes into starting a fundraiser, and the potential benefits of doing so.
After reading this article, you should have a better idea of whether a Mixed Bag Designs fundraiser is a worthwhile option to raise funds for your new business.
What Is Mixed Bags Designs?
Mixed Bag Designs is a company founded by two moms who had ample experience with school fundraisers.
They started the company in Burlingame, CA, right in the heart of San Francisco.
The mothers began the company after noticing that many of the gifts used in school fundraisers weren’t practical — you can only buy so much ice cream, cookie dough, and candles.
The women began by creating reusable grocery bags.
Since then, the company has expanded its line of reusable bags.
Mixed Bag Designs recently gained the backing of Boon Supply.
When you visit mixedbagdesigns.com, you find yourself automatically redirected to boonsupply.com.
Boon Supply “believes that the world needs more #doers…more people working on the thousands of little things that add up to big differences in our communities.”
It appears that Mixed Bag Designs act as a supplier to Boon Supply and that Boon Supply is the company that you’ll work with when setting up a fundraiser.
When a fundraising page goes live, customers will gain access to a slew of products.
When customers purchase products from your page, you’ll receive 40% of the sale price.
The products won’t have your name or company logo associated with the product in any way.
Instead of buying things for the home through online retailers like Amazon, your supporters can do so through your fundraising page, knowing that you receive a portion of the profits when they do so.
Boon Supply has donated more than $100 million to date, supporting more than 25,000 fundraisers.
The company says that it has impacted more than 100,000 communities as a result.
How to Get Started With Mixed Bag Designs
Upon signing up for the first time, your fundraiser page will be live in a matter of minutes.
Start by creating an account.
After doing so, name your fundraiser.
Boon says that the names of the best fundraisers are descriptive and straightforward.
Then, determine who the fundraiser is for.
The fundraiser can be for:
- An organization
- Someone else
After this, provide your contact information, including your name, address, email, and phone number.
Then, provide more details on the type of fundraiser you wish to conduct.
You have the option of setting a goal for your fundraiser.
Doing so is not required, and you can adjust your target at any time.
Additionally, you can indicate whether supporters can see your fundraising earnings or whether you’d rather them be private.
Lastly, you can select the start date and end date for your fundraiser.
Next, determine whether you’re fundraising as an individual or as a group.
Odds are, as a new business, you’ll fundraise as a group.
If you have multiple employees or members of your ownership group, they can all fundraise under this group name.
Boon Supply also gives you the option of using catalogs to help support your fundraiser.
The last step is to choose what type of category your fundraiser falls under.
You can choose from 17 different options, ranging from “Schools & Education” to “Volunteering & Service.”
Entrepreneurs and small business owners will likely find themselves attracted to the “Professional Development” category.
Once you choose a type, you’ll select “Customize My Fundraiser.”
Here, you can tell your fundraising story and upload an image for the fundraiser.
Finally, you’re ready to take your fundraiser live.
Once live, customers have access to an array of kitchenware, tote bags, gift wrap, and other home-based products.
Customers can choose from Everyday Totes, Reusable Grocery Store Bags, and Lunch & Insulated Totes.
Customers do not have to have an account with Boon Supply to make a purchase.
Instead, they can check out as a guest or use an associated express payment method like Amazon Pay.
If a customer creates an account, they can track the order history in the future.
Things to Consider
Because you can set up a Mixed Bag Designs campaign in a matter of minutes, it’s a useful option for anyone who needs to raise money.
Small business owners can obviously use it as a tool to fund their business.
But, let’s say you’re a freelancer looking to earn a technical writing certificate.
Setting up a Mixed Bag Design campaign could provide you with the money to do so, with little work required on your end.
Boon Supply says that in some cases, it works with charitable organizations as part of a national partnership strategy.
In other cases, Boon serves as a platform “for groups to profile their work, build community, and raise essential funds.”
No matter where you are in your professional endeavors, Mixed Bag Designs is an option worth considering.
Below, you’ll find other points of emphasis to consider when fundraising.
Set a Reasonable Goal
Boon Supply recommends that you set a reasonable goal for your project, considering both the size of the community that you’re working in and its shopping habits.
You should set a goal by considering what an average sale might be — for instance, two tote bags and a set of kitchen utensils — and then multiply this by the number of people you anticipate placing an order.
If you meet your target, you can adjust it quickly.
Boon also recommends using an effective call to action.
Instead of having an ambiguous fundraiser, you should link your goal to a specific need.
You should also include a story about why you need the money and what will happen once you reach your goal.
This will allow you to better connect with your intended customer base.
Boon Supply does not pay you until your fundraiser is complete.
You’ll receive a Deluxe eCheck in your email after your fundraiser is over, typically within five to seven business days.
You’ll review the information in this check, process it, and print a paper check.
You can deposit this paper check as you would any other check.
Use Mixed Bag in Conjunction With Other Fundraising Methods
While we like how easy it is to set up a Mixed Bag Design campaign, we wish there was a way for you to personalize your products.
Setting up one of these campaigns allows you to provide customized gifts to your supporters.
But, there are limited downsides to setting up a Mixed Bag Designs campaign.
When used in conjunction with other fundraising opportunities, it’s a win-win.
Remember that you don’t have to always have to rely on fundraising to raise money.
You could also look for ways to create passive income.
This too is a useful option to help raise money without you having to do much work.
Once you get started, passive income allows you to make money while you sleep.
While fundraising holds more credibility and is an excellent way to start building a customer base and a brand, passive income could give you the money you need to get started or to push yourself over the edge toward your next goal.
Start Fundraising Today
As a new business owner, having too much capital is never a bad thing.
Having cash on hand gives you the flexibility to expand your business as you please.
Knowing this, it’s probably in your best interest to set up a fundraising campaign with Boon Supply and Mixed Bag Designs.
The companies do not charge you anything to get started, and you’ll receive 40% of any sales that occur as a part of your fundraiser.
When used alongside other crowdfunding campaigns, a Mixed Bag Design fundraiser provides you with a safe place to raise capital without having to give up ownership of your company.
Get started today and provide yourself with the financial freedom that your company needs to excel.