Looking for a way of accumulating cash for your business venture or non-profit organization? One way to do that is with the help of a fundraiser.
If there is one disadvantage that for-profit and non-profit organizations have, it is the lack of capital.
No matter what industry you?re in or the purpose of your company, money makes the world go round. Without it, reaching your goals or supporting a cause is unlikely. When the budget is low and the needs are high, a creative way to raise funds is necessary.
This is where a fundraiser comes in. Whether done internally or with the help of the public, fundraising opportunities make it possible for businesses to stay afloat.
Why a Fundraiser?
When funds are tight, one of the first things people look to is a loan. Borrowing what you need now and paying it back over time seems like the best course of action. However, borrowing money essentially means that you?re in debt to another company until it has been paid in full.
Not to mention, businesses that don?t generate enough revenue, are new in nature, or don?t have a strong credit reputation are often turned down for loans and lines of credit, leaving them with very few resources to rely on to cover the cost of things the company budget won?t cover.
Benefits of a Fundraiser
Though you may be factoring the amount of time and effort it will take to raise the funds you need, there are a lot of perks to hosting a fundraiser within your small business. This includes:
Money (With No Strings Attached)?– Unlike borrowing the money from a bank or investor, which comes with repayment agreements and interest, fundraising doesn?t have any strings attached. It is the act of interested parties donating their own money to your cause or goal. It does not have to be repaid.
Team Building – You, your staff, members of the community, and other organizations will have to work together in order for the fundraiser to go off without a hitch. Whether you decide to start a?campaign on Kickstarter or you opt to sell candy in the office to your staff, it will require initial planning, setup, and management to flourish.
Marketing Potential – If you?re going to get donations, you?ll have to put the word out about your fundraiser giving you ample amount of time to gain more exposure for your company. As you advertise your fundraising campaign with your company name attached, this helps to spread the word about your business.
Choosing the Right Fundraiser
You can?t just disclose today that you?re raising funds and hope the cash starts rolling in. To get a good response, you need to choose your platform wisely. It will greatly depend upon your budget, the amount of effort you want to put into it, the interest of your audience and, of course, your goals. Some examples that are being used today include:
Brick Fundraisers – One of the best ways to thank patrons for contributing to your cause or goal is to acknowledge them. Having their name engraved on a plate, stone, or brick, is one way of doing this. Let?s say you?re trying to build a park, you could have a customized wall with engraved plates for everyone who donated to the cause. This would entice more people to donate and serve as a permanent reminder of your gratitude.
Merchandise Fundraisers – People are willing to donate to a cause or goal when they know they?re getting something out of the deal. They don?t mind paying more than the asking price for beauty products or gourmet foods if they are giving to a good cause and receiving great products in return.
Crowdfunding – A digital way to raise funds, crowdfunding has become increasingly popular for small businesses. By creating a profile, you can ask a number of people to help you reach a monetary amount for anything from startup funds and operating expenses to expansions and new product launches.
When you have a cause or goal that you?re passionate about, but can?t achieve on the budget your small business has, it?s time to think outside of the box. Fundraising provides you with a plethora of platforms to reach thousands, if not millions of people who would be willing to give you a helping hand ?with no strings attached.