Awaken Café, the much-loved downtown Oakland coffee shop, sold Café Creator cards. Oakland residents, excited to support the opening of a socially responsible, locally owned café in their community, purchased cards that entitled them to products from the café valued at more than the purchase price of the card. For example, a $1,000 card would entitle the holder to $1,200 worth of purchases once the café opened. The cards were fully refundable upon demand. This enabled the café to raise sufficient funds to open. They are now using this strategy again to fund an expansion. In addition to raising capital, they have loyal customers invested in their success. As a next door neighbor to the café, Katovich Law Group is definitely a fan!
How did Awaken Café raise start up funds from its community?
About Cutting Edge CounselSpecializing in both traditional and new economy law (benefit corporation, cottage food, sharing economy, crowdfunding, etc.), Cutting Edge Counsel offers a full menu of legal services to organizations of the new economy. Contact us at info [at] cuttingedgecounsel.com.
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