Crowd funding is defined as financing a business venture using small amounts of money from a large number of people Photo by Thinkstock

Crowd funding is defined as financing a business venture using small amounts of money from a large number of people. Photo by Thinkstock.

Crowd Funding: A Devilish and Angelic Option for Raising Money in the Fitness Industry

If not done right, crowd funding can be a lot of work with little to no payoff. Done correctly, it can reap financial rewards.

Kevin Barringer, founder of Los Angeles-based Body Boxing Bootcamp, wanted to build a brick-and-mortar storefront for his 17-year-old personal training business, which he conducts in Los Angeles-area parks. So he turned to Indiegogo, a crowd-funding site. In January, The Wall Street Journal reported that more than 200,000 campaigns had been launched on Indiegogo.

Barringer says he liked Indiegogo because entrepreneurs can keep the funds raised even if they do not hit their goal.

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