Crowdfunding feasts: An emerging model for the evolution of the food industry

Abstract
The food and beverage business is also challenged in its financing of innovation, especially due to the
high costs of operation and low profit margins. Traditionally, independent chefs and entrepreneurs in
the food business may not be able to finance their business through conventional methods of financing,
such as loans and venture capital. This is where crowdfunding provides an opportunity to finance
independent chefs and entrepreneurs in the food business. The main aim of this research paper is to
identify and highlight the possibilities of crowdfunding feasts to finance independent chefs and
entrepreneurs in the food business and create a viable business model to finance and engage
consumers. In this paper, the benefits and disadvantages of crowdfunding feasts to independent chefs
and entrepreneurs in the food business are analysed considering the changing food business
environment. A comparison is also provided of the benefits of cooking vessels in improving nutritional
value and the benefits of crowdfunding feasts in improving financial and culinary value.