How to finance a board game: 4 sources, comparative method

Financing is often the first barrier perceived by game creators. Yet, it is never the most difficult obstacle: it is the provability of the market that poses the real challenge. With a concept validated in playtests and an identified target, financing follows naturally.

Here are the 4 main sources with their typical sizes, constraints and feedback on the best combinations by creative profile.

Note: most successful projects combine 2 or 3 sources (e.g. self-financing + crowdfunding, or loan + crowdfunding). Few are 100% single source funding.

Source 1 : Crowdfunding (Kickstarter, Ulule, Gamefound)

Crowdfunding has become the preferred route for board play since 2015. Kickstarter dominates in volumes (5+ billions raised all sectors), Ulule for the French market, GameFound is specialized game.

Benefits : finances production before production (cass-flow positive), validates the market in real terms, builds the community of players, exposes the project to several thousand prospects.

Drawbacks : intensive preparation 3-6 months upstream (visual, video, copywriting), 30 days of very demanding campaign, 5-8% platform fee, 3-5% payment fee, complex post-campaign logistics management.

Typical amounts : variables depending on the audience for a first game, can reach very high amounts for mature projects with pre-existing audience.

Council Target 70% of the financial targets covered off-platform (on your site, networks, email list) before launching the campaign. A campaign that does not take off in the first 48 hours rarely succeeds.

Source 2 : Bank loan (with or without BPI guarantee)

Bank loans are still relevant for creators established or worn by an entrepreneurial structure. Mutual bank, traditional bank or online bank (Qonto, Shine) according to the profile.

Benefits : no dilution of capital, total creative control, predictable timing, deductible interest for companies (SASU/SARL).

Drawbacks : guarantees often requested (personal security, intellectual property pledge), limited amounts without priority for a first file, interest 3-7% depending on the economic situation.

BPI Guarantee France : can cover 50-70% of the loan, significantly lowers the personal guarantee requirements. File to be built 2-3 months upstream.

Typical amounts : variables according to the file. More accessible for creators with stable or structural paid employment (SASU with initial contribution).

Source 3 : Self-financing (savings + employee income)

Self-financing remains the most common route for independent creators. Personal savings + employee income in parallel that cover project expenses.

Benefits : no debt, no dilution, total creative control, free rhythm.

Drawbacks : limits the scale of the project (lower accessible amounts), increases the time (progressive financing), possible cash flow.

Typical amounts : amounts controlled over 12-24 months. Adapted for the first games or games at controlled production cost.

Council : Maintaining a 6-12 month security pool of personal expenses before diving into a major creative project. This security radically changes the quality of strategic decisions.

Source 4 : Business angels or subsidies

Business angels investors are rare in pure board game (market deemed too niche). More present on multi-game publishing projects or physical-digital hybrid game platforms.

Grants : possible for educational projects (Ministry of Education, private foundations), CSR (environmental awareness, inclusion), cultural (DRAC, CNL for games with strong narrative dimension). (more about our corporate CSR game)

Creative competitions : several annual competitions with significant monetary prices and support. Not a main source of financing but a useful complement + visibility.

Benefits : potentially large amounts, support by experienced investors, validation of the project by credible third parties.

Drawbacks : dilution of capital for business angels, long and demanding selection processes for subsidies, strict contractual constraints.