Funds raised on the GottaGrooveBot crowd funding/pre-order platform are FREE OF FEES [*with one exception below] up to the total of your GGR vinyl pressing invoice. So, you can make more money on your vinyl project verses using ther crowd funding platforms.
EXAMPLE: 300 black 12” with full color single pocket jackets, with a successful crowdfunding campaign total of $2500 raised. (We’ll exclude freight and any other pressing-related costs for this illustration)
Using another crowd funding platform with 8% in combined processing fees:
You raise $2500.
You have to come up with the full deposit to get the pressing started – either out of pocket before the campaign funds, or you have to wait until the campaign is over to get the order rolling, causing delays in your release.
You get $2300 after 8% in combined fees.
Record pressing cost = $1795.
You net $505 from your crowdfunding campaign.
Using the GrooveBot:
You raise $2500.
GGR will start working on your order when the campaign reaches $500 raised (in a “keep what you raise” campaign; requires a $500 matching deposit which is refundable when the campaign reaches its goal)
Record pressing cost = $1795.
$1795 of raised funds are applied to pressing cost without a processing fee.
$705 of raised funds are assessed a low 5% processing fee.
You net $669 from your crowdfunding campaign.
*(This illustration assumes that all payments you receive in your campaign are at least $10 each. On payments of less than $10, a $0.50 per transaction fee is assessed by our credit card processing company).
