MoveYourMountain

How Much Does it Cost to Start a Crowdfunding Campaign? #AskaMentorMonday

crowdfunding questions

 

#AskaMentorMonday is about answering your crowdfunding and online fundraising questions. You can email a mentor at mentors@moveyourmountain.org, or check out our Frequently Asked Questions and Help Center. Ask anytime and we’ll discuss the most frequently asked questions every Monday.

How Much Does it Cost to Start an Online Fundraising Campaign?

That’s a GREAT question!

What if I told you NOTHING?!  It’s totally FREE to set up a crowdfunding campaign. The only thing it will cost you is about 5 minutes to upload a picture and type in your story.

Once your start receiving donations, EVERY single crowdfunding platform will charge you SOME type of fee (if they say they’re free, they’re NOT. Someone, probably your donors, are paying it).

Small fees are deducted from incoming donations to the campaign. 

Move Your Mountain deducts 2% per donation (a super low fee).

Our credit card processor WePay, deducts 2.9% + 30¢ per donation.

A Total Low Fee of 4.9% + .30 per donation. 

To see how we compare to other platforms, check out Comparing Crowdfunding Platforms post.

You can tell from the infograph below, that Move Your Mountain is one of the best crowdfunding platforms to use based on fees alone.

 

 

Total Fees aren’t all that you need to look at when comparing which crowdfunding platform that you should choose, but you should be aware of what those fees are.

Now…aside from the fees, you actually have A LOT of work to do to make sure your crowdfunding campaign is successful.

Your time is valuable, and should be calculated in the total estimate of overall costs incurred.

You will have to constantly update your campaign, upload pictures, and share it with friends and family via email and social media outlets.

Running an online fundraising campaign is work. Are you ready for it??

Now…aside from your updating and sharing, you will also need other services to help you reach your fundraising goal.

You will NOT have to hire an outside consultant to help advise you how to reach your fundraising goal, because we offer that service FREE at Move Your Mountain. You WILL have to pay for that service if you choose another platform.

Other costs to consider besides the fees themselves:

  • Will I need a crowdfunding consultant to reach my goal?
  • Will I need a PR person to get me in the news?
  • Will I need a graphic designer to make fliers for me to distribute?
  • Will I have to pay additional for a database of donors upon the completion of my campaign?
  • Will I have to hire a mentor to teach me how to raise money?
  • Will I have to hire an editor to write a press release for me?
  • Will I have to hire someone to give me feedback on my campaign?

If you choose the WRONG crowdfunding platform, all of these questions will be a YES, and your total costs just went THROUGH THE ROOF!

All of the above services are FREE at Move Your Mountain.

We love helping people raise money and inspire giving!

Choose the crowdfunding platform with competitively low fees and an abundance of free services.

Come on…it’s time to Move Your Mountain!

If you can't find your answer, and still need help: Contact Us