iFundWomen Review 2021: Crowdfunding Platform For Women Entrepreneurs
If you’re a businesswoman, the iFundWomen crowdfunding platform sounds like a great alternative to get money for your company. After all, unlike a business loan, it allows women-owned enterprises to raise funds without repaying it. Is iFundWomen, on the other hand, capable of assisting your female-led firm in launching a successful crowdfunding campaign?
We’ll help you in figuring it out in this review. But, first, we’ll go over everything you need to know about iFundWomen crowdfunding, including how campaigns work and what tools it offers to assist female entrepreneurs (like expert business coaching).
By the end, you should know whether iFundWomen provides the platform and guidance you require or whether your firm should pursue other funding opportunities.
iFundWomen is great for female-led businesses looking for funding. First and foremost, iFundWomen is a rewards crowdfunding platform that focuses on women-owned and led enterprises, but anyone can use it.
Of course, most iFundWomen investors want to support women-owned businesses, so bear that in mind while determining whether or not to use the platform. For women, this might mean getting access to backers who are seeking fundraisers similar to yours. Others, on the other hand, maybe overlooked because backers want to promote women-owned enterprises.
In either case, iFundWomen may help any business succeed. While iFundWomen exclusively offers incentives campaigns (typically more successful for product-based companies), we’ve witnessed successful campaigns for both product- and service-based enterprises (like life coaching and accountants).
On iFundWomen, organizations frequently have successful fundraisers, with backers opting for the “Just Because I Care” donation choice rather than a reward (making iFundWomen a good GoFundMe alternative).
Our iFundWomen Review Pros
- Model of funding that allows you to keep all of the money you raise.
- Detailed crowdfunding advice
- Extra services, such as private tutoring and professional videography, are available.
Our iFundWomen Review Cons
- There are no statistics on success rates.
- There aren’t any user reviews.
How does iFundWomen make money for its clients?
iFundWomen can help you with your fundraising efforts no matter what type of small business you have. All customers receive access to a course on the iFundWomen method, which the site says will significantly increase your crowdfunding success.
What is the precise amount?
According to iFundWomen, the strategy allows users to raise 27 times more money than traditional crowdfunding. (Later, I’ll go into greater detail about this.)
Additional support, such as personalized coaching and professional video services, can be purchased for a fee.
You might also qualify for iFundWomen’s Pay It Forward Grant.
IFundWomen uses platform fees to help fund some of the campaigns on the site. iFundWomen’s grant program, like other small business awards, provides beneficiaries with free money ranging from $2,500 to $100,000 in this case. (You must fill out an application.)
Simply put, iFundWomen provides significantly more support and direction for your crowdfunding endeavors than the ordinary fundraising site. iFundWomen could be an excellent fit for your business’s financial needs, even if it doesn’t have the name-brand familiarity of some other crowdfunding platforms.
Alternatives to iFundWomen
iFundWomen offers a variety of crowdfunding solutions. While other crowdfunding platforms provide a wide range of campaign kinds and financing options, iFundWomen keeps things simple.
As previously stated, iFundWomen is a rewards crowdfunding platform for women only. This indicates that your campaign will reward backers (like swag, social media acknowledgment, or some of your products).
However, a surprising amount of individuals on iFundWomen donate at the “Because I Care” level (a donation tier with no prizes), so you don’t have to offer physical rewards all of the time. (However, you’ll probably have greater luck if you do.)
Photo by RODNAE Productions from Pexels
iFundWomen is a crowdfunding platform for women.
- Keep what you’ve earned.
- 5%, 2.9 percent, plus $0.30
On 7/7/21, start collecting campaign data. Pricing was correct at the moment of publication, but it may change. It’s conceivable that some promotions aren’t available everywhere.
On all projects, iFundWomen (like GoFundMe) uses a keep-what-you-raise strategy, which allows you to keep whatever money your campaign earns even if you don’t accomplish your fundraising target. (All-or-nothing crowdfunding services, on the other hand, require you to reach your goal before you can keep any money.)
On the one extreme, you won’t have to worry about falling a few dollars short of your fundraising goal (or thousands of dollars).
Bear this in mind; there is a possibility that you may not meet your goal; you’ll still have to reward your backers with incentives. So if it could put your company in financial jeopardy, you’re better off using an all-or-nothing platform like Kickstarter.
How does iFundWomen make money?
iFundWomen, like most other crowdfunding services, doesn’t charge any fees until you start making money. You can establish and start your fundraising campaign for free. However, any funds you raise will be subject to a 5% platform fee from iFundWomen.
Payment processing costs will also be applied to your funds. Payments to iFundWomen are made through Stripe or Paypal, depending on your preference, both of which have very standard processing costs.
The iFundWomen crowdfunding platform
So, how do you set up and manage an iFundWomen campaign?
To begin, you must first create an account. After it is completed, you may start working on your campaign page. This is the page on which you’ll pitch your idea to potential backers, so it needs to be both informed and persuasive. While you are free to include and link to a number of assets, iFundWomen requires the following:
1. Image in the header
2. The name of the campaign
3. The tagline for the campaign
4. Pitch your idea (that can include text and images)
You’ll also need to create a campaign timeline. Your campaign should last 30 to 45 days, according to iFundWomen. Whatever choice you choose, you’ll be able to prolong your campaign while it’s running.
You’ll have to determine if you want to take payments through Stripe or PayPal at some point throughout the campaign setup. They both have similar payment processing fees, so it’s a matter of preference. In addition, you’ll need to link your payment processing account to your campaign in either case.
You’ll submit your campaign for approval once it’s ready to go. This takes about 24 hours (though iFundWomen invites you to send an email if you need a faster turnaround).
The majority of the time, iFundWomen approval checks whether or not your company is legitimate. Someone will, for example, ensure that you have a presence on the internet in other places (such as your own website or social network presence on Twitter, Facebook, and other platforms).
Your campaign will go live after it has been approved, and you can begin sending traffic to your iFundWomen page.
Remember, whatever you raise with iFundWomen is yours to keep. As a result, you won’t have to wait until the end of your campaign to get paid.
After the first commitment to your campaign, your iFundWomen funding will begin to come in 5 to 10 days later. After that, your funds will be transferred to your bank account via Stripe or Paypal, depending on which option you choose when creating your campaign.
With any luck, you’ll be able to reach your fundraising target. Even if your project isn’t fully financed, you’ll still receive the funds you’ve raised.
Coaching and the iFundWomen method
While iFundWomen allows you to keep whatever money you generate, it also wants to assist you in reaching your fundraising goal. iFundWomen offers training on the iFundWomen method to help with this.
As we previously noted, iFundWomen believes that its crowdfunding strategy can help you raise significantly more money. For example, people who apply the iFundWomen method, according to iFundWomen, raise 27 times more money than the industry average for crowdfunding. That’s a substantial amount of money.
So, what is this method, exactly? It’s all about honing your pitching, networking, and marketing skills, all while focusing on your crowdfunding campaign.
With its eight-lesson course, you may learn everything there is to know about the iFundWomen method. There are almost two hours of videos, PDF handouts, and other media in the course. You also get quizzes to help you test and retain what you’ve learned. That’s a lot more than other crowdsourcing sites provide. (Most sites only contain a guide and some frequently asked questions.)
We think eight classes in exchange for a significantly larger fundraise is a decent deal. If you find the training useful, keep in mind that you can always pay for more iFundWomen expert startup coaching. Monthly plans range from $9 to $199.
Customer feedback on iFundWomen
We usually prefer to tell you what users of crowdfunding sites have to say about the platform we’re examining at this stage in the review. Still, we haven’t been able to locate much in the way of iFundWomen consumer reviews.
Of course, this is disappointing, but it isn’t necessarily a bad omen. Inferior platforms usually receive at least a few unfavorable reviews. So, at the very least, iFundWomen isn’t encouraging anyone to do so.
Nonetheless, the absence of iFundWomen evaluations points to the site’s overall limited size. iFundWomen lacks the traffic and user base (and thus reviews) of a more well-known site such as Kickstarter. This could lead to fewer people seeing your campaign and fewer supporters.
In any case, we’ll keep an eye out for iFundWomen reviews and will update this review as soon as possible. (Of course, if you use iFundWomen, we’d love to hear about your experience.) iFundWomen, the takeaway, has a lot to offer female businesses (and other entrepreneurs too). iFundWomen can help your women-led business conduct a more successful crowdfunding campaign by providing superior crowdfunding materials as well as additional coaching and mentorship possibilities.
However, because iFundWomen isn’t as well-known as other sites, it has fewer ratings and potential donors.
We hope you enjoyed our ifundWomen review and stick around a while to find out more about all that Crowdfunding Bum has to offer. You will find ample reasons to choose us as your funding source. Fresh out of excuses? Click the link below.
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or see our frequently asked questions page
Bernardo Pereira instinctively knew that funding a Crowdfunding campaign shouldn’t be so difficult. This Crowdfunding Bum founder and sole owner is a visionary thinker who wanted to place the power of generosity in the hands of all those who choose to embrace it. Strategically, he developed the world’s first built-in backer mechanism within the platform to auto-fund campaigns. This website is a manifestation of his vision.