Crowdfunding a ski resort: Red Mountain sticks it to the Man!

As huge corporations continue to snap up North American ski resorts, Red Mountain want you to help them stick it to the Man!

Two weeks after ski industry leviathans Vail Resorts and Whistler Blackcomb announced a new ‘strategic partnership,’ Canadian indie ski resort Red Mountain in Rossland, British Columbia brings a new investment strategy to the table: equity crowdfunding.

CEO and entrepreneur Howard Katkov, who bought the resort 12 years ago, hopes to raise $10 million through the campaign which kicked off yesterday on StartEngine.com. He is selling shares of the resort in six tiers ranging from $1000 to $25000, with a variety of perks up for grabs including season passes, custom skis, and overnight stays in mountain huts.

Hey Gord, I can't remember which pillow's mine so I'll send 'em all EH!

Hey Gord, I can’t remember which pillow’s mine so I’ll send ’em all EH!

Red is one of Canada’s most revered ski resorts. Located in BC’s West Kootenays on the ‘Powder Highway,’ it’s famed for its abundant snowfall, full-on terrain and small town rustic character. It’s always been about community at Red: it’s Western Canada’s oldest ski resort, and began life as a community-owned entity at a time when the rugged Scandinavian miners working in the area still carved their own skis from solid wood!

Following Vail’s billion dollar Whistler takeover, 40 North American ski resorts are now owned by just 3 big corporations – 75% of them acquired in the last 14 years. Red Mountain hope to buck this trend, and they want your help! In their own words:

“Through the power of the internet and the magic of equity crowdfunding, RED Mountain would like to reboot the community-owned SkiClub model—before it’s too late.

RED is an endangered species in the resort world. We have the snowfall, vertical drop and world-class terrain to go boot-to-boot with the Big Guys, but have consciously maintained our mom ’n’ pop/weird uncle feel for over 100 years.

We’ve never been owned by a chain, or a bank, or big corporate who think pay days always trump powder days. We want to preserve this ­erce, independent spirit in the face of MegaResorts that might have started out targeting skiers’ hearts but now only have their wallets in the crosshairs…”

“Fight the Man. Own the Mountain.” Become an owner of RED Mountain Resort

VISIT THE CAMPAIGN: bit.ly/2bz19ez SEE WHAT’S IN IT FOR YOU: https://youtu.be/Zk6Ux6Ymk2A SEE THE HISTORY OF RED: https://youtu.be/pCh5QznjGsg RED Mountain is an Endangered Species within the ski resort world. We have the snowfall, vertical drop, world-class terrain and 4-season fun to go boot-to-boot with the BigGuys, but have consciously maintained our mom ‘n’ pop/weird uncle feel for over 100 years.

Currently the unusual crowdfunding project is still in the ‘test the waters’ phase: you can register your interest now, but you won’t have to open your wallet unless they move on to the next stage (with nearly $1.5m of the $10m goal reserved on the first day, hopes are high). The aim is to raise money keep the resort independent and stable by selling it to the ski and snowboard community:

“We sincerely hope you’ll join us to “Fight the Man. Own the Mountain.” We’ve been at this for 12 years and could use your help at this juncture to stay fierce, independent, proud, and a little bit odd. 

This campaign to raise money is to keep us stable moving forward, supported by those who love this sport and this way of life the most. To keep us out of harm’s way down the road when many other independent resorts have gone the way of the T-Rex in order to make ends meet. It’s about building and growing this community and this love for the sport. Think about it. Whether you’re in for dimes or dollars we’ll make it worth your while.”

What price would you put on a powder slash?

What price would you put on a powder slash?

What do you get for your money?

The project is designed to be accessible to the whole ski and snowboard community, with a number of levels of investment starting from $1000. Investors will receive a number of perks depending on level, including ski passes and custom skis:

Tier 1 – $1000

  • Access to new clubhouse (all tiers)
  • Support towards new local annual academic Scholarship Fund for higher education (all tiers)
  • 5 transferable adult lift tickets (valid for 5 years)

Tier 2 – $3500

  • Limited edition pair of custom skis
  • 10 transferable adult lift tickets

Tier 3 – $5000

  • 1 adult season pass (must be used within a 5 year period)
  • Pair of custom skis
  • 10 transferable adult lift tickets

Tier 4 – $7500

  • 1 family season pass or 2 adult season passes
  • Pair of custom skis
  • 10 transferable adult lift tickets

Tier 5 – $10,000

  • Access to 6 mountain huts for overnight stays
  • 1 family season pass or 2 adult season passes
  • 2 pairs of custom skis
  • 10 transferable adult lift tickets

Tier 6 – $25,000

  • One 5-year-long family season pass or two 7-year-long adult season passes
  • Access to 6 mountain huts for overnight stays
  • 2 pairs of custom skis
  • 10 transferable adult lift tickets

You can learn more about the project or register your interest on Red Mountain’s crowdfunding page.

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