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This section of TWICE, "The PR Wire," contains original press releases that reflect the views of the industry organizations issuing them. Releases are not reviewed or edited by TWICE editorial staff. Suppliers, The PR Wire is "A Virtual Press Conference." For access, email your name and email address to thewire@twice.com


New Platform, FitForLaunch, to Provide Guaranteed Delivery for Crowdfunding Pre-Orders

6/15/2017 02:30:00 PM

FULTON, Md., June 15, 2017 -- FitForLaunch announces the launch of its new platform for crowdfunding pre-orders. FitForLaunch is unique in that it offers consumers peace of mind with a delivery guarantee, so that they can pre-order the coolest tech without the risk. Should a business fail to deliver within 12 months, FitForLaunch will either refund their purchase or secure an equal or better replacement.

Every company that joins FitForLaunch undergoes a thorough vetting in 5 key areas: Market feasibility, technical feasibility, production feasibility, financial feasibility and creator feasibility. Each key area is evaluated by a team of subject matter experts; only companies that are viable in all key areas are permitted to join the platform and considered fit for launch. 

FitForLaunch debuts at 9am on June 15th, with four companies (M3D, Snapmaker, Knops, and Enomad) that have already had successful crowdfunding campaigns representing a total of 7.8 million USD raised for product development. FitForLaunch expects to add a dozen additional vetted companies every month and aims to help them increase pre-order revenues by addressing new markets. 

FitForLaunch companies also benefit by having access to strategic advice in areas of marketing, manufacturing, employment, and even taxes.  Helping companies learn how to keep their costs down and have sound strategies maximizes their chance of success.  FitForLaunch's experience allows us to help companies avoid pitfalls and save hundreds of thousands, if not millions.  A short conversation with an expert can have a huge impact and is an additional value for companies joining the platform.

FitForLaunch encourages companies with new products to take pre-orders using a crowdfunding-type mechanism as opposed to setting up their own ecommerce site until they are in stock.  Leveraging a platform like FitForLaunch also helps protect them from fraud, chargebacks and merchant processor holdback reserves.  Many creators do not realize that credit card processors have the potential to devastate a startup by denying them access to the funds they've raised.  New companies also may lack the resources for setting up their own ecommerce site and maintaining it along with screening purchases against fraud and dealing with chargebacks.  

FitForLaunch was born out of witnessing failures that were predictable due to our fundamental understanding of the crowdfunding space and experience with manufacturing operations.  We saw trust in the crowdfunding space falling and wanted to do something about it.  We developed a proprietary system for predicting success - our own underwriting process for gaging risk.  We then surveyed buyers and found an underserved market of purchasers that would pre-order projects only if given a guarantee, even with a significant additional fee.  FitForLaunch was then setup as a way to effectively communicate and support our own vetting and guarantee process. 

To learn more about FitForLaunch, please visit http://secure-web.cisco.com/1sYJPWx04igiY4ixkHcVPIY6Pvyn8TTxctGnRNovrqCJ3ZrJa_NXzTEWw0snRnZVKQStafsDuTOC1gjIuSNYYdbEstiKnNaz4mA0dvcUuRLD32kRVxLJ0ffacQTmSAw5Yajt5zhTj7aYFxp1J6Nmm46SB4_7nVydpAaeJcU1ln-WXMFNhjxVZn3KcI9o3yL7IEhI4ywlzKm-CQx8OgtHLS5xftmkRbR6UoQOnAt3uicAIvhvjgG-rfi4N0-xgXhLvcFyIDbeEJ7GFTODZkm8eWg/http%3A%2F%2Ffitforlaunch.com

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