REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

Reply
 
Thread Tools
Old 09-05-2015, 12:49 AM   #1
I don't get it
 
Join Date: Mar 2013
Location: Vancouver
Posts: 406
Thanked 666 Times in 174 Posts
Remember Cafe 1029?

Remember the Cafe 1029 thread?

http://www.revscene.net/forums/70254...estaurant.html

The Vancouver Sun wrote up an article about its business model. It's supposed to be a brick and mortar kickstarter-like investment club.

?Crowdfunding café? comes to Richmond

A Chinese twist on the North American crowdfunding phenomenon has landed in the Lower Mainland, and organizers hope it will revolutionize the way start-ups attract investment.

The “Chinese crowdfunding” model, or “zhongchou” in Mandarin, replaces a website like Kickstarter with a bricks-and-mortar establishment to gather funding for entrepreneurial projects. In Richmond, Cafe 1029, spearheaded by North American Crowdfunding CEO Jason Liu and others, opened in March.

Zhang Jiawei, one of the 100 initial investor-owners of Cafe 1029 and a visiting professor at SFU’s Beedie School of Business, studied the crowdfunding when first came to Beijing in 2013. Zhang said a small group of business acquaintances, each putting up about $10,000 to buy a coffee shop, used the establishment as a “entrepreneurial incubator” where each investor could bring in ideas to present to the group and solicit funding.

While the café still operates like any other, depending on food and beverage sales to make money, the key is to create a place that entrepreneurs and investors frequent, thereby attracting more coffee-shop business.

“The traditional Western crowdfunding model like Kickstarter is hitting a bottleneck in China, because the Internet is an abstract platform, whereas face-to-face relationships — especially in business — are crucial in Chinese culture,” Zhang said. “In China, if you try to solicit $1 of investment over the Internet, it is easy to do. But $1,000 would likely raise eyebrows and not be nearly as successful.”

The crowdfunding café idea originated with Beijing University alumni Yang Yong. Yang and a group of about 140 investors launched 1898 Cafe near the university campus. (1898 was the year the school was founded.)

A wave of similar shops popped up across China over the next two years. But while 1898 Cafe and others have succeeded, the concept is sometimes dismissed by the traditional investment community as a gimmick. Some of the first crowdfunding cafes (in the southern Chinese cities of Hangzhou and Wuhan, for example) have closed after losing money.

Zhang, who wrote a book on the Chinese crowdfunding model published earlier this year, said that the failed businesses put the café’s operational profits first, instead of focusing on the core idea of platform-building.

He noted 1898 Cafe’s investors first established what the cost would be to run a café without a single customer for three years, then divided that up between the small investor group as the initial buy-in fee. Members were not guaranteed any return on their investment.

Since the coffee shop still depends on sales for its revenue, the goal is to increase the number of patrons coming in to discuss start-ups and business deals. As the café’s brand improves, so does the operational revenue, Zhang said, but the process takes time.

“The failure comes when you pursue the operation of the café as your chief focus,” Zhang said, noting Cafe 1029 hires people to run the café and uses the facility as a meeting place for entrepreneurs and investors. “When the café doesn’t make money in its first year, investors pull out and it fails.

“The main purpose of a café like this — and it can be a restaurant or any other establishment — is it needs to be a crowdfunding platform, first and foremost. If the café breaks even or makes a little bit of profit, great. But the focus is face-to-face interaction. You can’t put money first, because after a critical mass is reached with people and ideas, the money will come.”

Zhang anticipates that Cafe 1029 will initially be popular among local Chinese, and it may take time to be recognized by the English-speaking community since the model is heavily based on trust and openness between members. Currently, most members are Chinese-Canadians who speak Mandarin.
Advertisement
Mikoyan is online now   Reply With Quote
This post FAILED by:
Old 09-05-2015, 12:52 AM   #2
RS has made me the bitter person i am today!
 
meme405's Avatar
 
Join Date: Feb 2013
Location: Vancouver
Posts: 4,625
Thanked 7,179 Times in 2,177 Posts
In an age where most brick and mortar businesses are being completely decimated by their online counterparts, these clowns want to take a business model which is thriving online and turn it into a brick and mortar business.

It's completely ass backwards, and ridiculous. Why even begin under the pre-tense of a coffee shop?
__________________

Barney Fucking Purple FX35
Brianna - 2008 FX35 - Build Thread
meme405 is offline   Reply With Quote
This post thanked by:
This post FAILED by:
Old 09-05-2015, 01:18 AM   #3
I *heart* Revscene.net very Muchie
 
mickz's Avatar
 
Join Date: Jan 2005
Posts: 3,807
Thanked 367 Times in 207 Posts
I'm still waiting to hear about this cafe's developments to drive innovation in the local and international markets by consolidating their resources.
__________________
My RS Feedback (34-0-0)
mickz is offline   Reply With Quote
This post thanked by:
Old 09-05-2015, 01:21 AM   #4
Need to Seek Professional Help
 
Join Date: Jan 2004
Location: .
Posts: 1,020
Thanked 1,029 Times in 254 Posts
The article is so poorly written. It's not crowdfunding at all, it's just a standard angel-investment group ala dragon's den.
__________________

2007 Ducati SportClassic SE #72/100
1979 Honda CB 750 Café-Fighter
2008 Yamaha R6 (Track)
bananana is offline   Reply With Quote
This post thanked by:
Old 09-05-2015, 08:09 AM   #5
What hasn't Killed me, has made me more tolerant of RS!
 
Join Date: Aug 2012
Location: Vancouver
Posts: 181
Thanked 109 Times in 44 Posts
Quote:
Originally Posted by Mikoyan View Post
“The traditional Western crowdfunding model like Kickstarter is hitting a bottleneck in China, because the Internet is an abstract platform, whereas face-to-face relationships — especially in business — are crucial in Chinese culture,” Zhang said.
AKA You can't slip a bribe into the other guy's pocket over the Internet.
JaPoola is offline   Reply With Quote
This post thanked by:
Old 09-05-2015, 03:03 PM   #6
Need to Seek Professional Help
 
Join Date: Jan 2004
Location: .
Posts: 1,020
Thanked 1,029 Times in 254 Posts
You guys are all letting your blind hatred of rich Chinese get in the way of logic.

This is an amazing thing for Vancouver and Vancouver-based entrepreneurs and startups. I have no affiliation but I do know they have closed multiple 7-figure seed rounds with some local companies. If anyone out there is having difficulties securing funding for their startup or need capital for business expansion go and try it out. The coffee shop is really just a place to meet and pitch ideas.
__________________

2007 Ducati SportClassic SE #72/100
1979 Honda CB 750 Café-Fighter
2008 Yamaha R6 (Track)
bananana is offline   Reply With Quote
Old 09-05-2015, 03:20 PM   #7
I *heart* Revscene.net very Muchie
 
mickz's Avatar
 
Join Date: Jan 2005
Posts: 3,807
Thanked 367 Times in 207 Posts
So you mean there's hope for Kung Shoes after all?
__________________
My RS Feedback (34-0-0)
mickz is offline   Reply With Quote
Old 09-05-2015, 05:23 PM   #8
RS has made me the bitter person i am today!
 
Join Date: Feb 2011
Location: Richmond
Posts: 4,992
Thanked 7,941 Times in 2,061 Posts
I park outside of it 5 days a week and never once seen people there (since it's opened). What kind of fucking business place is that. I hate it
__________________
http://i.imgur.com/4PRtABe.gif
320icar is offline   Reply With Quote
Old 09-05-2015, 07:22 PM   #9
WOAH...shut the music off...
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 7,799
Thanked 4,706 Times in 1,888 Posts
Quote:
Originally Posted by 320icar View Post
I park outside of it 5 days a week and never once seen people there (since it's opened). What kind of fucking business place is that. I hate it
the kinds that are a front
__________________
Feedback
http://www.revscene.net/forums/showthread.php?t=611711

Quote:
Greenstoner
1 rat shit ruins the whole congee
Quote:
[04-06, 11:34]radiomanI'm doing happy hour with bj#3 today
[07-04, 10:27]radiomani need just the tip
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat

GLOW is offline   Reply With Quote
This post thanked by:
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 11:39 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net