The state of Georgia was early in the intrastate investment crowdfunding space. The Invest Georgia Exemption (IGE) allows Georgia investors to back companies raising up to $1 million. No accredited investor status necessary. Bohemian Guitars was the very first company to raise capital on SparkMarket the first crowdfunding platform to set up shop in the State. Bohemian successfully raised $131,400 in equity on a goal of $100,000. This was following the successful rewards based campaign the company launched on Kickstarter earlier in 2013 (backers have received their guitars).
In a note to supporters Bohemian shared their struggles and triumphs and reported they intend on commencing manufacturing in Atlanta – as opposed to offshoring production.
“We’ve also learned a tremendous amount about the music instrument manufacturing and distribution industry which for decades has been controlled by a few large companies that have dictated prices and monopolized supply chains and distribution channels. We are sick and tired of this! It’s time that musicians get to have a say. We are currently setting up our own manufacturing operation in Atlanta, where we will own the majority of the supply chain, cutting out the middle men, allowing us to get you amazing guitars that you design at even better prices while still bringing you new innovative products.”
The path to originating their own manufacturing has not been an easy journey. Apparently the founders had to deal with “expensive lessons learning the growing pains of the business”. The pair acknowledged the complexities of running a manufacturing company while building a brand.
The better news is that “everyone at Bohemian Guitar is working tirelessly to ensure a Christmas delivery”.
No one ever said running a small business is easy. Crowdfunding and platforms like SparkMarket continue to help small companies raise capital and grow.
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