Determinants of success of restaurant crowdfunding |
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| Institution: | 1. École Supérieure du Commerce Extérieur, ESCE International Business School, 10 rue Sextius Michel, 75015 Paris, France;2. University of Liechtenstein, Fuerst-Franz-Josef-Strasse, 9490 Vaduz, Liechtenstein;3. LITEM, Univ Evry, IMT-BS, Université Paris-Saclay, 91025, Evry, France;1. Department of Entrepreneurship, Hankamer School of Business, Baylor University, United States;2. Department of Management, Virginia Commonwealth University, United States;3. Belk College of Business, University of North Carolina at Charlotte, United States |
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| Abstract: | This study explores the determinants of restaurant crowdfunding success, inspired by success determinants found in independent restaurant literature. The results indicate that community orientation, images that show elements of the restaurant concept, and frequent communication with funders are key drivers for success. We conclude that restaurant entrepreneurs who show that their project benefits the community where they operate, provide constant updates that maintain project interest, and are responsive to funders’ comments are more likely to succeed in reward-based crowdfunding. |
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| Keywords: | Crowdfunding success Restaurants Entrepreneurship Community orientation Kickstarter |
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