Surveying potential investors for the level of interest and investment you are likely to attract is a vital input to financial modelling. The results of an investor survey can not be interpreted as a pledge to invest in the project, however the information can still be useful and is worth gathering.
Composing a survey
Before you launch into your survey, it's a good idea to describe your project and clearly state the current financial status of the project including risks and opportunities. It's also important to state the reason for conducting the survey, and let people know how long it will take them to complete the survey.
A good survey will consist of both questions with pre-defined answer options and open questions. Questions with pre-defined answer options are much easier to analyse when it comes time to collate your results. They are also quicker to fill in for respondents. An example of this type of question would be "How much would you be willing to invest in this project?" with five or ten investment levels as answer options.
An open question is one where a respondent can share their ideas and thoughts freely. These answers are valuable for getting feedback on ideas you may not have thought about when constructing the survey. However, answers to such questions are more difficult to collate and analyse. An example of an open question is "What is your main motivation for investing in a renewable energy project in your town?".
Conducting a survey
Internet surveys can be built quickly and easily using online tools. Surveys of this type generally generate a link which can be emailed to community members and they allow for efficient collection and analysis of results.
Of course, many members of your community may not have access to the internet and it's a good idea to supplement any online survey with a paper version, featuring the same questions. Paper surveys can be handed out and collected at community events or street stalls, as part of your other community engagement activities.
A survey example
Below is the survey Hepburn Wind used to gauge investor interest in Australia's first community wind farm. Feel free to use this as a pro-forma template for your own project.
About This Survey
There is no question that Australia will become more and more reliant on renewable energy sources. And while most of the activity surrounding renewable energy is being undertaken by large organisations, there is an exception.
The Hepburn Community Wind Park (Hepburn Wind) is the first community owned wind farm to be developed in Australia. Co-operative ownership of wind farms has been a common feature of European energy production for decades. Hepburn Wind provides an outstanding opportunity to take part in the booming renewable energy industry and invest in a sustainable future for Australia.
As part of our capital raising plan we are conducting this survey to determine the level of interest in Hepburn Wind. Your participation in this survey is not a commitment from you, it is simply to help us gauge potential interest.
Thank you for your help.
1. Attitude to renewable energy
Which statement best reflects your attitude to renewable energy, such as wind or solar power?
- I am passionate about renewable energy, and believe it is vital for our future.
- I think we need an alternative to our current reliance on coal, so renewable energy deserves more focus.
- I don't know much about renewable energy, but I think it will be important in the future.
- I am indifferent to renewable energy and don't think it should be encouraged.
2. Investment interest
Would you be interested in investing in Hepburn Wind?
- Yes — because I believe communities need renewable energy.
- Yes — if I believed it was a solid investment and I had funds available.
- No — I’d like to but I won’t have any funds available over the next 6 – 12 months.
- No — I don’t think this would be a good use of my funds.
3. Investment level
What level of investment would you consider?
- $1,000
- $2,000
- $5,000
- $10,000
- $20,000
- $50,000
- $100,000
- $250,000+
4. Returns
What is the minimum return that you would require to make this level of investment?
- Less than 7%
- 7% – 9%
- 10% – 12%
- 12% – 15%
- More than 15%
5. Investment entity
Through which type of entity would you likely invest?
- Personal
- Self-Managed Superannuation Fund
- Business
- Company
- Trust
6. What is your age?
- less than 20
- 20 - 30
- 30 – 39
- 40 – 49
- 50 – 59
- 60+
8. Demographics and details
To enable us to gauge local interest, we require that you provide your post code. All other fields are optional.
- Name
- Address
- Town/Suburb
- State
- Postcode
9. What is your email address?
To improve the quality of data collected, we require that you provide your email address. We may contact you when more information is available, unless you opt out below.
10. Permissions
Your email address will not be passed onto any third party. If you do not wish to receive any information about Hepburn Wind, please click the box below.
Please don’t contact me X
11. Comments
If you would like to leave a comment, please do so below. All comments will be read, but we may not be able to provide individual responses to all comments.
Thank you for participating in our survey. If you did not opt out, we will contact you when more information is available.
More information
This template is the actual survey that was undertaken for Hepburn Wind early in 2008.
Build free online surveys at survey monkey.
Built free online surveys at zoomerang.