But how does Streetbank make money?!One of the first things people ask about Streetbank is “how do you make money?” It’s an excellent question
There are two answers depending on the spirit behind the question.
1. Getting rich? Er...no.
Some people mean “how are you going to get rich?” and the answer is simple - we’re not. We’re a grassroots movement that encourages people to be generous. We’ve always felt it would be wrong to make a profit from people’s generosity and we’ve been working very hard to become a charity (something we hope to be able to announce in January!) At the moment, we’re a Community Interest Company which you can read about here.
2. Getting sustainable? Yes… exactly.
Other people mean “how are you going to make Streetbank sustainable?” and that is very good question - one that we have grappled with ever since Streetbank started.
Like any website, Streetbank has running costs. We’ve always hoped that we could cover these costs through voluntary donations. Wouldn’t it be great if Streetbank, a movement to encourage generosity, could be powered by all of us giving a little to sustain it?
Some people think that vision is mad. “People don’t pay for internet services” we’ve been told. And yet we have been encouraged and heartened by the fact that, every month, over 100 people have so far chosen to give a total of £1,000 entirely voluntarily. For that, we want to say a big thank YOU!
Making up the shortfall
Running a website of Streetbank’s complexity and scale is expensive. Just to keep Streetbank going we need close to £4,000 per month, which is unfortunately almost £3000 more than we’re currently receiving in donations.
We are hugely grateful to you for your donations, don’t think we’re not and please do keep giving so generously! However, we need to find a way to make up the shortfall.
We think the best way is to allow people to pay for classifieds. There is a neat logic to this. Streetbank is a site that allows you to offer things and skills to your neighbours for free. However, if you want to charge for them, you have to pay to post.
What do you think? How you would feel about Streetbank if there were a small number of paid for posts. We’d really value your thoughts!