Why does a producer list on PrimeStox?
This is a natural question. Our producers are paying above-market rates for funding. Are they distressed? No they are not. On the contrary in many cases PrimeStox producers do not need the money. What they are seeing is an opportunity to create a community of investors who can fund their production and become fans and brand ambassadors. That's what they're paying for and one of the reasons why the rate is high - they want your attention!
Why do investors fund offers?
PrimeStox brings together people who love fine food and investors who want a great return. Both types can find much to like in PrimeStox. Here they can connect with the best producers, participate in the business of food, and earn exquisitely as well.
What is "Symphony in Food"?
How it Works
"Symphony in Food" is a special resonance. You can hear it when a producer is able to connect with their customer and engages them enough to fund their production. Or when an investor becomes a customer and increases sales. This multiplier effect is what PrimeStox is all about. Producers build a community and investors get profits, rewards and connections. Symphony in Food is reciprocity at its best.
In what way do I "Own the Product"?
At PrimeStox you hold title to the product you funded from the moment your money is transferred. This gives you additional security. In all cases it is yours. In the unlikely event the producer can't sell it, you hold the claim until it does. You can even ask the producer to send it to you if you want - at no extra cost.
Can I get the product instead of repayment?
Yes this is an option for UK deliveries. If you would like to receive your product in the mail instead of payment you can request this by emailing PrimeStox on firstname.lastname@example.org. The timing of delivery may not be immediate in some cases because the producer may require time to complete the manufacturing. A suitable date can arranged directly by email.
Are these offers purchase-order-backed?
In some cases a producer may bring an offer to PrimeStox to pay for a purchase order they have received from a retailer. In these cases the offer is even more secure since there is a known buyer for the product who has committed to pay as long as the certain quality and quantity specifications are met. If a purchase order exists it is noted in the description text on the offer page.
What costs will my funding pay for?
Your funding pays for short term production costs such as raw materials, packaging, transport and labour.
What do producers get for their interest cost?
PrimeStox rates are a little higher than what a producer would typically pay for short term funding for production. However with PrimeStox interest producers also get to build a community, directly reward their investors and create potential customers. This "interest" comes with an important marketing benefit!
Can the money be repaid so quickly?
Yes it can. The short-term production costs which PrimeStox pays for are usually covered by sales. Healthy companies should not have a difficulty paying back these costs from receipts from sales.
What about larger amounts?
Every offer on PrimeStox has a Prime category. This is for investors seeking to earn a little more. Prime yields are even higher than the profits advertised on the offer pages. To see the Prime yields an minimum amounts them you must become a registered member. Some producers also offer an exciting suite of rewards to their Prime investors. These are announced after the offers fill.
What about default?
While we expect that the level of defaults on PrimeStox will remain low it is possible that a default can occur. In cases where a product has to be manufactured the producer may experience production issues affecting the quantity or quality they can produce. Alternatively they may have difficulty selling their product in the market. In such cases delays may occur to your payment. However in all cases you continue to hold title to the product until you're repaid in full with profit. If during this time period you wish to receive the product which you paid for, you can request its delivery to any UK address at no additional cost.
How does PrimeStox choose its producers?
Transfers & Payments
PrimeStox chooses only the best food producers who have superb quality and track records. We seek out producers with the potential to become world-class brands, selling in established outlets with young, forward-looking and dynamic leadership teams.
Does PrimeStox take deposits?
No we do not. You cannot credit an account at PrimeStox. When you fund an offer our card processor stores your details and payment is taken once the offer offer target is reached. You are charged automatically and the funds are passed to our producers.
What happens when an offer lapses?
When an offer lapses on PrimeStox because it did not fill in time then the pledges from each investor expire and no one is charged. The offer is removed from the site.
When am I charged?
You are charged only when the target is reached for an offer. If the target is not reached the offer lapses.
How am I repaid?
When you're repaid by your producer you will be notified by email and your Dashboard pages will show an amount available for withdrawal. To withdraw you are required to enter your bank details with a withdrawal request. These can also be emailed to email@example.com. PrimeStox will respond within 3 business days requesting confirmation of the details provided. When confirmation is received a bank transfer is executed to the account provided on the same day.