It was on October 21, 2020, that we launched our presale directly on our website. It was a great success from the first minutes of the launch and the entire Tero team would like to thank you for your support and commitment. This presale also raised some questions about the difference between this presale and the crowdfunding campaign that took place in 2019 on Kickstarter.
Why has the price of the Tero device increased? When will I receive my Tero device? Why promote a presale?
I will answer all these questions by differentiating the two concepts, in addition to explaining their respective objectives.
The 2019 Kickstarter crowdfunding
On October 15, 2019, Elizabeth and Valérie started their crowdfunding campaign on Kickstarter. The goal? Obtain the necessary funds to realize their project of sustainable design and production of the Tero device.
The device presented and the information given on the platform corresponded to a proof of concept. We had a functional prototype of the Tero device, but still required a lot of testing and improvement in order to meet high criteria of reliability, safety and durability. What remained was for us to industrialize the product.
When an entrepreneur presents his or her project on a crowdfunding platform like Kickstarter, they must achieve the monetary goal they have set within a specific timeframe. Therefore, there are risks involved, particularly related to possible delays and challenges to be met along the way. The price was set, to the best of the entrepreneurs’ knowledge, based on the very first prototype and hypothetical production costs. It should also be advantageous to thank the very first contributors who believed in the project. This explains the lower prices enjoyed by Kickstarter contributors.
We have had incredible success with our Kickstarter campaign and we are very proud of it. The support received is greatly appreciated and we would like to thank all our contributors once again. After reaching our goal, the next step was to go through the whole process of developing innovative technology. We’re talking about developing the technology, finding suppliers, sourcing parts and materials, performing numerous tests, obtaining certain certifications and more. It is a long adventure, full of challenges, but one that motivates us a little more every day and we have taken all these steps one by one successfully since November 2019.
The benefits of Kickstarter contributors:
- Exclusive and detailed information each month directly on the platform;
- A lower price;
- Contributors are among the first ones to receive their Tero device.
Delivery of pre-ordered devices during the Kickstarter campaign is scheduled for summer 2021.
The 2020 presale
Just one year after the end of our Kickstarter crowdfunding campaign, we had completed many steps in our development schedule: a period of key tests with six user testers, the final choice of our Quebec manufacturing partners, the implementation final adjustments to prepare for production, etc. So we made the decision to provide a presale on October 21, 2020, to meet the growing public demand for the Tero device, but above all to prepare the production in a responsible manner. This presale is very similar to a regular sale; what sets the two apart is primarily the fact that presale is the sale of an item before it is officially available to the general public. Several well-known companies, such as Tesla or Apple, have often opted for this business model in order to market their new products.
With this presale taking place a year after our Kickstarter campaign, we had the time and resources to establish the true price of a Tero device. This explains the price increase to $595 + taxes ($545 + taxes in presale currently). This price is a big difference from that of the Kickstarter campaign, but reflects the real costs of producing a Tero device using sustainable materials, while performing assembly in Quebec. By producing the Tero device locally, we want to offer a product that meets all of our high-quality standards.
Advantages of presale buyers:
- Obtain a monthly follow-up of the production and delivery schedule of the device;
- Benefit from a favourable price ($50 discount) and free delivery;
- Buyers are subject to the same return and refund policy as the sale.
The devices ordered during the 2020 presale are scheduled to be shipped as of autumn 2021.
We very much hope that these explanations have enlightened you on the difference between the Kickstarter crowdfunding campaign and the 2020 presale and on our willingness to consider our buyers with a great deal of respect and fairness.
At Tero, our goal is always to inspire people to act for the environment by designing the best solutions for recycling organic waste. We are working very hard to deliver a device that will meet your needs as quickly as possible.
Thank you for following us in this great adventure!
By: Claudia Larose