Firelight Camps; fan investment flames

to be on track to meet our fundraising goal of $1 million.”

An equity crowdfunding campaign is not something to take lightly. There is a huge amount of work that goes into the process, from the initial preparation in gathering all of the required information for the campaign, to the ongoing interactions with supporters. While equity crowdfunding is very time intensive, there are a number of positives to be found alongside the financial support.

“More than anything, we are grateful for, and humbled by, the outpouring of support we have received since our launch. Like any fundraising effort, there is considerable upfront work preparing to launch the campaign, and the time and effort to successfully conduct a crowdfunding campaign is comparable to, if not in excess of, a traditional accredited-only campaign,” says Bobby.

“That said, we have already seen a number of positive outcomes in addition to raising capital. By raising funds from a large number of investors, we now have a sizeable pool of engaged supporters that will become loyal customers and brand enthusiasts. It is also an asset to be able to reach out to this pool of investors for future fundraising needs, and we expect our internal expertise in crowdfunding to be useful for upcoming projects. Lastly, as a founder, it is uplifting and reaffirming to hear kind words of support and encouragement from so many of our past guests!”

Equity crowdfunding is a great way for a company to raise funding, but it comes with its share of difficulties, especially for glamping businesses.

“Much of the online equity crowdfunding world is focused on technology or software-focused businesses, so glamping businesses may find that they don’t squarely slot into many of the crowdfunding platforms. This just means that the established marketing path set for technology companies may not directly apply, and some extra creativity may be required for a successful campaign,” says Bobby.

Whilst a crowdfunding campaign is open, it is essential that interaction with both investors and potential investors remains active.

“Regarding interactions, it has been great to see some of our new investors reach out to me with ideas or connections, some of which have already proven to be fruitful. I also post periodic updates on our campaign page, and we also have email newsletters and social media posts that keep our guests and investors informed. We also offer exciting “perks” with different investment tiers, like discounts on stays and personal property tours, and I look forward to meeting many of our new investors personally next season in Ithaca!” says Bobby. Investors are ultimately investing in a campaign because they think that it will be successful, meaning that they will make a return on their investment. For produc- led businesses this return will most commonly be made from the profits in sales. For experience-led business such as those in the hospitality industry, things get a little bit more complicated.

“We expect to be a good target for acquisition by a larger hospitality firm, a real estate group, or a private equity company once we have multiple properties open and operating,” he adds. “We have already seen some of our competitors in the glamping industry go this route and generate substantial returns. Another strategy that could produce a substantial return for our investors would be the sale or refinancing of individual properties, rather than the whole company. In that scenario, our intention is that Firelight Camps would retain a long-term management contract on each property, even after a change in ownership. Lastly, at some future point we may begin distributing dividends to investors.”

When asked about what advice he’d give to others in the glamping industry who are looking into equity crowdfunding, Bobby explains that, “I think equity crowdfunding is a great opportunity for those in the glamping industry since glamping is inherently easy to understand, photogenic, and has a large devoted following. However, it is important to understand that a large amount of upfront preparation is necessary for a successful campaign, and I would recommend enlisting the help of a marketing agency who has dealt with crowdfunding for guidance in most instances. Lastly, engagement is key and the more touchpoints you have with your prospective investors, the better!”

If you’d like to find out more about Firelight, you can find their website at firelightcamps.com, if you’d like to invest in, or find out more about, their crowdfunding campaign, you’ll find it at wefunder.com/firelightcamps.