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Wed Oct 3, 2012

Food Spy: Cardinal Rule needs your help

This morning a plea for $50,000 from Cardinal Rule (5 Roncesvalles Ave. at Queen St. W.) came up on fundraising site indiegogo. It turns out their basement flooded and cost the restaurant its walk-in freezer. They will be closing for a week to have it replaced.

Those who help with the fundraising efforts (here’s how the money will be spent) will enjoy a variety of perks ranging from high fives to two free meals a month for an entire year. Co-owner Marta Kusel has said this Sunday’s brunch will be the last meal served until they re-open on the 16th.—Rebecca Fleming

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Alex

I think indiegogo and other similar sites are great ways to raise capital, but I always find it pretty suspicious when businesses essentially use it as a way to cover their ass.

It would be one thing if they were using it as a system to get a bunch of capital upfront, similar to a groupon with no discount. Then people who truly enjoy the resto could put their money up front and enjoy something later. Revenue loss is spread out, but you’re at the mercy of when folks want to redeem their meal, unless you want to manage that somehow.

$100 for a dinner & drink for one person seems ludicrous though (unless that’s what this place usually costs). The donor is supplying a lot of good will at that point to make up for the fact that the resto didn’t have proper insurance.

I’m interested to see just how effective this fundraiser is, if only to see how Capitalism and Altruism are going to interact here in Toronto.
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4:39 pm on October 3, 2012

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