FAQ – Frequently Asked Questions
Crowdfunding Campaign Link – Live Now: CLICK HERE
1. Where are you located?
Audio Bar will open in or near Costa Mesa, CA in Orange County. Once we complete the fundraising process, we will be able to work on securing a location. We have at least two locations we are interested in that can work well for our concept and traffic.
2. What is the money for?
Every dollar raised from this crowdfunding campaign will go toward opening costs including build permits, licenses, deposit on the lease, the bar tap system, etc. These are listed on the campaign page. After this campaign, we will open up meetings with investors and already have a number interested. More have reached out to us since hearing about our campaign and concept.
3. What happens if you don’t raise the crowdfunding goal of $80,000?
We appreciate all your contributions so much. Even if we don’t reach our stated goal here, we will still be able to keep all the funds raised toward our opening costs. So every dollar counts. After this campaign, we will open up meetings with investors and already have a number interested.
4. How else will you be raising funds to open?
Crowdfunding is Phase 1, Investors: Phase 2, and if needed, Business Loans: Phase 3
5. When will you open?
Opening schedule depends significantly on how quickly our funding can be secured, locking down the ideal lease, and then the application process for the liquor license. Once liquor license is approved, we can truly start building Audio Bar.
6. What kind of food will be served at Audio Bar?
The original plan was to serve casual Italian bites under the name Audio Bar and Ristorante. Since the launch of this campaign, we have received mixed opinions about limiting our menu to only Italian, so we are planning to really consider your feedback and open the menu up to include casual American choices too.
7. How much does Indiegogo Take out of the money raised?
Indiegogo takes a 5% fee on all contributions and donations in addition to the 3% credit/debit card transaction fee, so 8% of all contributions will be withheld. We consider this a cost of doing business, similar to the expense of producing the perks and shipping them to you.
8. Why did you guys set the goal at $80,000?
$80,000 covers the opening costs (described on our campaign page.) and is a substantial amount out of the total we need to open Audio Bar. We felt if we set the goal lower, the public would not take our campaign seriously. For example, if our goal was set at only $40,000, that would be such a small fraction of the total costs involved in opening this caliber of a bar, it would not make sense to target such low amount. We understand that raising $30K out of a $40,000 goal rather than a $80,000 goal looks like the campaign is more successful, but again, $80,000 is more realistic of a goal. This campaign is only Phase one out of potentially three phases of funding. After this campaign, we will be meeting with investors.
9. When I ordered the $99 Featured Perk, it didn’t ask me for my shipping address. Where do I give this for my shipping?
Thank you for ordering our most popular perk! Once the campaign ends, we will email you asking you for your shipping address. Or you can be proactive and email us with your order number and address to email@example.com
10. When is the last day to contribute?
The final day to contribute is Wednesday, June 20. Please plan to contribute before then, otherwise it will be too late. We so appreciate your support and wanting to help us get this Audio Bar project open.
11. I don’t know you guys, why should I contribute?
There’s a number of reasons why you can feel great about contributing to our business including:
if you truly love EDM and Hip Hop, you’ll get the gratification of helping launch a home for music lovers just like you. And who knows, interested investors are seeing Audio Bar as a profitable franchise opportunity. Audio Bar can come to your city soon.
Being part of something fresh: get the inside scoop of how this project starts with an idea to actually becoming built and then opening. We will update you with emails, video updates through the process, and live social media sessions so you are there with us every step of the way.
Take home any of our cool perks we are offering including a mug that gets you discount on beer every time you come in, swag bag with branded goodies and fashion, or tickets to our grand opening.
Know you did a good deed by helping a couple passionate entrepreneurs achieve their dream, and by helping future guests to Audio Bar have the time of their lives.
If you live near Orange County, you’ll help create your new hangout spot for years to come!
12. Will Vincent move back to Orange County to operate the business?
Vincent is excited to move back to his home of Orange County full-time to commit to seeing Audio Bar a success.
13. Why should I contribute today instead of later?
By contributing today, you won’t forget later. And the higher our campaign contributions rise, the more exposure Indiegogo will direct to it from their site which will help us achieve our goal that much more effectively. Thank you for your participation and contribution!
14. How do I contact you?
15. Why are you guys doing a crowdfunding campaign? We haven’t seen other bars do that.”
The biggest reason is we wanted to give all of you a chance to be involved in our opening process. We are all about community and if we can create a community of music lovers before we open, it can become a platform for so many opportunities of connection, passion, creation, and mutual support. This community can very well be greater than the limits of our four walls.
Every dollar raised goes toward our opening costs, and the more contributions we get, the less we have to give out as equity to investors or pay in interest for loans. This way, we can focus more on bringing you the best experience possible when you come in.
The campaign’s marketing reach has sparked interest in more potential investors.
We are able to test the market and see if there is interest and demand for our concept.
We are able to build excitement prior to opening.
Thank you for the support so far. Please Contribute, donate, or re-share our campaign.
Crowdfunding Campaign Link – Live Now: CLICK HERE