Crowd Funding FAQ’s

Have questions? Maybe we have your answer right here:

What is Crowd Funding?
What is Equity Crowd Funding?
What is Rewards Based Crowd Funding?
Why did La Culture du Vin choose a Rewards Based Crowd Funding model?
Why did Karen Burns Photography build its own crowd funding platform for La Culture du Vin?
Why are some of the rewards goal oriented while others are ready to ship immediately?
Why are some of the rewards as expensive as they are priced?
Why are some of your items made in Czech Republic or Italy instead of France?
Is La Culture du Vin only interested in selling items from Europe?
How are transactions handled? When will I be charged?
What if I change my mind, can I cancel my donation?
What if my Reward arrives damaged?
Can I return my Reward for a refund?
Why is my purchase billed by Karen Burns Photography?
How Can I Contact You?

What is Crowd Funding?
Crowd funding is the latest vehicle being used by entrepreneurs to raise capital for new business start ups in exchange for equity or a reward.

 

What is Equity Crowd Funding?
Equity crowd funding is an exchange of stock, units, or other form of ownership transfer exchanged for a capital investment. Equity crowd funding campaigns are subject to State and Federal securities laws which remain currently undefined by the Federal Government leaving risk in the equation for both parties. The Entrepreneur is stating a value which is often hard to quantify in exchange for capital from accredited and non accredited investors. The stock only has value if an exit strategy is clearly defined and executed otherwise investors are buying phantom stock with the expectation of liquidity in the future. People investing in equity campaigns should view the transaction as a loan to a friend that you may never see a return on to avoid disappointment should the venture fail to produce the promised results.

 

What is Rewards Based Crowd Funding?
Rewards based crowd funding is a non-equity model for entrepreneurs to raise capital without the legal restrictions of equity campaigns because no ownership is promised or transferred. Instead the entrepreneur usually offers a product or prototype in exchange for donations of capital to fund the campaign. Capital is promised far ahead of delivery to fund the production of the reward or campaign once a goal is met. Typically the donation is not captured until the goal is met or the reward is ready to be produced or shipped. Once the goal is met the future date of delivery is promised. If goals are not met the rewards do not ship and the donation is either not collected or returned to the funder in full.

 

Why did La Culture du Vin choose a Rewards Based Crowd Funding model?
The creators of La Culture du Vin are seasoned entrepreneurs experienced in raising capital through Private Placement Memorandums and understand the risks undertaken by the entrepreneur and the investor in these types of equity campaigns. Research shows that start up television productions have a higher risk of failing to produce profits than most other business ventures because the costs of production are so high. The added expense of overseas production makes the model even more challenging for profits to be recognized that could be shared among a group of investors. Because the creators appreciate every person who contributes to making this production a reality they do not want to create a situation where they could disappoint someone who believes in this project enough to help fund it. This is why they have used their experience in sourcing and creating unique products people will appreciate in exchange for a donation to help fund the production. It is a fair and legal exchange of product for currency with no opportunity for disappointment. Donate to fund the production of La Culture du Vin and receive a unique product or experience you likely cannot find anywhere else. It is a win – win – win crowd funding campaign!

 

Why did Karen Burns Photography build its own crowd funding platform for La Culture du Vin?
La Culture du Vin originally ran a campaign on Kickstarter in May of 2014 for 30 days to raise $10,000. This took place at the exact same time they were coordinating two weeks of filming in France from June 3rd to June 16th. It was impossible to market a successful campaign and plan the trip for the production in the 30 days set for the campaign. Nearly 20% of the goal was met before the deadline and it was apparent that Kickstarter brought nothing to the campaign other than additional expenses and disappointment to funders who pledged donations hoping to get the reward they donated to receive. The campaign ended with the goal un-met, rewards un-shipped, and donations un-collected leaving everyone un-fulfilled. Upon reflection of the campaign it was realized that Kickstarter was not providing anything special or of value to the funders or the production. The team at Karen Burns Photography already had PCI Compliant merchant accounts, were skilled in building e-commerce solutions and ultimately would be responsible for making the campaign a success. These circumstances left little value in returning to an outsourced crowd funding platform for a solution.

 

Why are some of the rewards goal oriented while others are ready to ship immediately?
Some items are in stock, other items we want to stock. Because some items are imported or manufactured there are start up costs to begin production and offering them for sale with immediate delivery. With the start up costs of the production of La Culture du Vin the risk of anticipating demand is too great a pull on resources to purchase ahead of orders. However, most minimum order agreements we have in place are very reasonable allowing only a few purchases necessary for us to begin stocking them on a regular basis.

 

Why are some of the rewards as expensive as they are priced?
The creators of the production have a deep love and respect for old world production methods. The Walmartization of the universe has had a devastating effect on hand made quality craftsmanship. The Chinese have been a very adept culture at copying the look of things and using practices, child labor, and other methods to compete on a world stage that is unsustainable for cultures that care about craftsmanship. Some people feel happy with purchasing plastic products that look like crystal for $2. One of the goals of La Culture du Vin is to become a market place that supports and finds markets for hand crafted items of exceptional quality. Our crystal stemware is an example of such a product. For instance, each stem is attached and formed by the hand of craftsman sitting on the edge of the furnace platform. Molten glass is delivered straight from the furnace to him by an apprentice to be added onto the blown bowl of the cup, and then shaped into a stem and base by hand. Commercial crystal such as Reidel is machine manufactured mass production which is how it can be sold for $29.00 a stem. After this the glass is cooled and sent to the cutting room where the patterns are hand traced onto the crystal and then cut into existence by delicate hands on wooden wheels spinning creativity to life as they have for over 300 years. There is no comparison to hand formed hand cut crystal – when you see it you realize the detail and quality is beyond compare.

 

Why are some of your items made in Czech Republic or Italy instead of France?
La Culture du Vin is a culmination of the talents and experience of Troy & Karen Burns. In 1999 they launched Bohemian Imports which went from online only to ADAC, The Merchandise Mart, and High Point Furniture Market before the recession of 2007 brought business to a stand still. The business has survived and those relationships from the past remain active to this day continuing to find business and stay relevant in markets world wide. We believe there is more opportunity for these incredible products here in the US. Currently we have only been able to start new relationships with two firms inside France and hope to be adding more as production continues on La Culture du Vin.

 

Is La Culture du Vin only interested in selling items from Europe?
No, the situation is more that this is where we have built the best relationships for the items we have found to market. We are interested in beneficial relationships with anyone who manufactures items of great quality by hand or through the use of crafted production techniques regardless of where they are located. We are particularly interested in US production but currently have no relationships with such companies located within the USA. One example is the t-shirts. While the shirts themselves are probably made in Bangladesh which we have no control over, they are printed here in the USA in Georgia.

 

How are transactions handled? When will I be charged?
We have protected the entire website with the latest SSL encryption technology and do not store any complete records online anywhere preventing hackers any ability to gain access to any usable client information. This type of system has proven safer than shopping with Target and Home Depot. Orders are collected through e-commerce transactions and either fulfilled immediately or held until goals are met. Once a goal is met the client is contacted immediately to make them aware their item is funded and going into production. Only at this time will a transaction be charged. Rewards will be delivered in accordance with the production schedules necessary to produce and ship the items to the US for domestic delivery.

 

What if I change my mind, can I cancel my donation?
We understand situations change and life can bring surprises. If you should need to change your donation contact us immediately. In most circumstances it will not be a problem. The only time it will be a problem is if your need to change happens after we have agreed to put the item into production on your behalf or completed shipment. Once we contact you and let you know your item is going into production your donation will be processed and will become non-refundable. The reason for this is we have to enter into production contracts with our manufacturers that we cannot break. We will pay them, they will manufacture and ship, we will receive the goods and in turn fulfill our agreement with you. Until we are locked in with the factories for production or we have shipped the product we have the flexibility for change. Once we all agree that the product is to be purchased we are unable to break these agreements as materials have been sourced based upon your acceptance of the terms. This is the most flexible policy you will find in any crowd funding campaign.

 

What if my Reward arrives damaged?
All items of significant value that could recognize damage are fully insured from origin to destination. If anything arrives broken claims will be filed, items damaged will be replaced as individual parts to complete the whole, or in its entirety if parts cannot repair the damage. If replacement is not possible for some unforeseen reason the insurance on the item will refund 100% of your donation. For insurance purposes all claims must be reported within 24 hours of delivery. Please check your shipment carefully so we can hold the carrier responsible for any damage found due to transit.

 

Can I return my Reward for a refund?
Unfortunately the answer is no. We are counting on the funds you donate to fund our production. If you change your mind before we ship the product or agree to place it into production we are happy to cancel the transaction. Once an item is shipped we have incurred costs that would create a loss for us which goes against the purpose of the campaign whose goal is to raise funds versus create a liability. Please choose your rewards carefully. Everything is being marketed exactly as it is manufactured in the country of origin listed. If you like the way it looks on our website you will be even more pleased to see it before your eyes in exchange for your donation.

 

Why is my purchase billed by Karen Burns Photography?
La Culture du Vin is a production of KarenImages the brand built by Karen Burns Photography to market its portfolio of fine art images and film making projects. The parent company is Atlanta Printing Consultants, Inc. doing business as Karen Burns Photography.

 

How Can I Contact You?
You can reach us via email at KBPhoto@KarenImages.com or by phone at 404.436.8406. You will receive the personal attention and assistance you expect directly from Karen Burns Photography.