Well my fundraiser worked!

Dexterjc · November 02, 2011, 05:27:52 PM

So I just finished my first bee season with my two hives and I have fallen in love with bees. I wanted to start one more hive next year but did not want to spend anymore money on the equipment. This year I ended up with 13 pints of honey from one hive and I didn't take any from the other. To pay for this I got everyone interested at work by bringing in a jar of my honey to sample. Then I sold 10 shares of my 2012 honey harvest (next summers) from one hive to my co-workers. 5 shares came with a jar of this years honey at $30 a share, and the other 5 shares I sold at $20 a share with no honey upfront. I guaranteed at least one pint of honey for the 2012 harvest to all 10 shares even if my harvest is a flop next season ( meaning I would buy someone else's local honey). Now I am up $290 towards a new hive, and worst case scenario I pay $70-90 (at $7-9 a jar here for local honey) to buy each of them a jar next august. And if all goes well they come out with several jars of honey.

Larry Bees · November 02, 2011, 05:40:40 PM

I can't believe that you found 10 people to do this. Must be a lot of gamblers out there where you live. Larry

Kathyp · November 02, 2011, 05:59:01 PM

Corvallis. the radiation from the nuke reactor scrambles their brains :evil:

it was a clever idea. just be ready to pay up. i have had one good year for every two or three bad. get yourself on a swarm catching list!

Dexterjc · November 02, 2011, 06:57:38 PM

I know it's a little crazy, but it worked.

AliciaH · November 02, 2011, 08:49:40 PM

So...a 1/10 share means they get 1/10 of your honey crop...from one hive? Who gets to pick the hive? This year you got 13 pints from one hive, so 1/10 would = 1.3 pints. And they really bought in on this? For $20 a share?

Wow, that is pretty creative. AND quite the sales pitch. I honestly wish you the best of luck with that; creativity should be rewarded. Let us know how it works out.

Dexterjc · November 02, 2011, 09:41:43 PM

Yes they get a 1/10 share from one hive (if all three do well than I may pitch in honey from more than one hive because I am a nice guy :) ......i am close friends with most of those who bought in. The people who bought the $30 option got one jar now, and at least one more jar next harvest (hopefully more). I wasn't getting any takers on the $20 option as there was no honey up front. But one of the doctors I work with (I work at a hospital) wanted in on the action and I told him that there was nothing left now, but I did have 5 $20 dollar options left. He decided to buy all 5 $20 shares. Its risky, as he may only end up with 5 jars of honey for $100, but hopefully that will not happen.
Both of my hives did well this year....so well that they both swarmed at least 2, maybe even 3 times. When the nectar flow came on they could not keep up with drawing out the foundation as the bees packed in the nectar. So I am in a prime spot for the blackberry / clover nectar flow, I just need to give them some time to draw out more of the super foundation before the flow comes on next year. Well, at least this is the conclusion I have gotten from the local beeks I have talked to. Of course this is all just wishful thinking.

JackM · November 03, 2011, 10:46:00 AM

Quite the gamble there, El Nino and all. Good luck, bigger Cahones than I.

rgy · November 03, 2011, 12:23:10 PM

that is a great Idea!! I wish I would have thought of it, my sister would have bought a lot of shares instead of me giving her honey! My second yr hive produced over 8 gallons so it would have been a good deal for the shareholders and I would have the wooded ware.

Don't tell the wall street protesters, they would be picketing your apiary wanting free shares!

Michael Bush · November 03, 2011, 01:30:16 PM

So if they don't make any honey and you have to feed 10 pounds of sugar, do they each pitch in and buy a pound of sugar?

rdy-b · November 03, 2011, 02:59:19 PM

YALL remember this guy--- :lol:
http://www.kickstarter.com/projects/306100130/the-bees-of-crockett/posts

VolunteerK9 · November 03, 2011, 03:26:27 PM

With only two hives your taking quite a gamble that both will successfully make it through their first winter and then another that you will get a surplus crop. To each their own. Good luck

Dexterjc · November 03, 2011, 03:26:39 PM

Hey my fundraiser is not practically criminal like that one ^^^. These people knew up front that this was kinda risky. But there is still a reasonable chance they will come out ahead.

VolunteerK9 · November 03, 2011, 03:30:36 PM

Quote from: rdy-b on November 03, 2011, 02:59:19 PM
YALL remember this guy--- :lol:
http://www.kickstarter.com/projects/306100130/the-bees-of-crockett/posts

Yeah I remembered that someone else had done this before. My job has made me incredibly sensitive to liability issues (more than necessary I'm sure) and with over 20k worth of donations, that spells a Class C Felony in my state if fraud was an issue.

Dexterjc · November 03, 2011, 03:37:39 PM

So far so good.....Even if its at total flop and both hives die and i have to re-package them, and the 3rd new hive doesn't produce anything, all i am out is 10 jars of honey i buy out of my pocket. That means I still have at least $175 from their investment to go towards new wooden-ware, equipment and packages. There are bound to be problems, but regardless, they get their honey. These are all close friends from work, so I will likely gift them honey down the road if next year is a flop. I am not here to cheat them, and 3 hives are better odds than 2.

VolunteerK9 · November 03, 2011, 03:44:42 PM

Quote from: Dexterjc on November 03, 2011, 03:37:39 PM
I am not here to cheat them, and 3 hives are better odds than 2.

Im sorry if you thought I was implying you were-I promise that wasnt my intent at all.

Dexterjc · November 03, 2011, 03:49:16 PM

Quote from: VolunteerK9 on November 03, 2011, 03:44:42 PM
Quote from: Dexterjc on November 03, 2011, 03:37:39 PM
I am not here to cheat them, and 3 hives are better odds than 2.

Im sorry if you thought I was implying you were-I promise that wasnt my intent at all.

Not at all, I was just stating that I have no intentions of robbing them of their money, I will do everything in my power to make their investment worth while.
No worries VolunteerK9.

rgy · November 03, 2011, 05:00:56 PM

wow a lot more "glass half empty" responses than I would have thought. Again I think it was a great idea to expand your apiary and with basically NO risk to the investors. At WORST they are out 20 bucks! (less than 3 packs of smokes or one case of beeror 3 visits to fast food) with a pint of local honey to boot!!! and no stings!!! At Best they could get close to a gallon of honey, learn about bees, maybe become a beek, BEE HAPPY that they help a friend.

If you were not a beek, would you not have gotten into this agreement with a friend/co-worker who was trying it out???

maybe this country's strength in entrepreneurship is gone!!!

AliciaH · November 04, 2011, 01:14:55 AM

Quote from: rgy on November 03, 2011, 05:00:56 PM
maybe this country's strength in entrepreneurship is gone!!!

No, not so much. But if they are only guaranteed 1 pint of honey, then worst case for the investors is $20/pint. That's a bit rich for my taste, so no, I wouldn't invest in that.

Having said that, I've spent A LOT of money in the past four years setting up my apiary. It's not that I'm all that frugal, but it's my money I'm playing with. I hate the idea of playing with someone elses'.

Is it a great idea? You bet! My conservatism gets in the way of a lot of things and I wish I could be more inventive the way Dexter is. I applaud his willingness to try new things! If it were me, though, I'd probably have tweaked it so that if the investors got only one pint of honey in 2012, that they'd get a 2nd pint in 2013. I sell a pint for $10 now, so in the end, they'd be getting their money's worth. The gamble would only be how long they had to wait, AND, the fact that they might even get more on that first year's return.

You're an inventive guy, Dexter, I truly wish you good things!

Dexterjc · November 05, 2011, 02:57:12 AM

Thanks Aliciah. I have every intention of getting them there moneys worth. I just promised them at least one pint. But I will make it a good deal for them one way or another. For instance my wife and I have been experimenting with solid lotion bars, so maybe I get them a free bar to try out to get some more feedback before I start making a bunch. I have been having so much fun with this.

P.S. Thank you everyone for all of the good wishes.

redhat · November 05, 2011, 08:52:43 PM

Dexterjc u sound like a future millionaire.