Thursdays Lingerie and Swimwear is going for gold in the African crowd funding space. After having financed the start up through traditional means of boot strapping, obtaining loans from family and friends, and even venture capital on the reality investment show Shark Tank South Africa, Thursdays CEO, Shona Macdonald has set her sights on a largely underutilized form of finance in the African Landscape, crowdfunding.
Crowdfunding is a form of finance where the bulk of the funds are raised from the public, rather than from an individual source like an investor or the bank. This can be in the form of donations, in exchange for a reward or equity. Thursdays will be raising capital through a reward-based campaign on the Thundafund platform.
The current records are held by Sugarbird Gin, R1 086 703 and Kevin Richardson’s Land for Lions, R1 937 618. Thursdays is setting their stretch goal at R2 000 000 to set the new record in Africa. “It can be really tough to finance a start up in Africa. Crowd funding is a really viable source of funding, and has helped accelerate so many ideas in the USA and Europe, but in Africa it is still relatively unknown. I want to leverage this platform to not only raise capital so that we can continue to produce beautiful, structured lingerie and swimwear locally, but also to show other entrepreneurs what a useful tool crowd funding can be. I am hoping that by setting such a big stretch goal that the campaign generates enough attention to inspire other entrepreneurs to utilize crowd funding to access the necessary funds to grow or start their businesses. It is also my hope that the community will come on board in mass and help us to reach our goal, and in doing so experience first hand how truly rewarding this platform can be”, says Shona.
Crowd funding is a win-win source of finance, and risk free for the investor. The entrepreneur sets a monetary goal, and only if this the goal is met does the backer part with his or her money. On the Thundafund platform, you can set 2 goals, a tipping point, which is the minimum amount of money that you need to achieve your goals, and your dream goal, which will help you grow even further. Thursdays is setting more representative tipping point and dream goals, but proactively targeting a third stretch goal to set the record. As a backer, you will be able to choose from a selection of rewards that fit your budget. These will range in price from R75 to R100 000, allowing anyone who supports boobs to play the role of investor.
Thursdays is known for being a progressive business, designing their lingerie and swimwear to support women C-cup and up, a market segment that has notoriously been left out by the industry. Their imagery portrays diversity in beauty and allows the consumer to relate to the models their pictures, mirroring her own beauty. However, this business has a much bigger impact than just helping women feel confident with their curves. Thursday’s lingerie is manufactured in Mitchell’s Plain by a group of women who have been up-skilled to make bras, a dying skill in South Africa. Due to the dramatic increase in Chinese imports over the last 25 years, the lingerie manufacturing industry is at risk of local extinction. It is no surprise that this enterprising start up was nominated as one of South Africa’s Top 5 Most Exciting Start Ups of 2018 by Heavy Chef.
Support boobs and keep up to date with the campaign and help a female entrepreneur set a record in the African crowd funding space. Sign up for their newsletter and keep following Heavy Chef, as we will be posting updates on their progress.
Visit www.thundafund.com to see similar projects and back other aspiring entrepreneurs, or post a campaign of your own.