Sometimes it can be
a little difficult and overwhelming to find a potential fundraising prospect.
Here are just a few things to consider when you're thinking about working with
businesses to raise funds for your organization.
Higher or Lower?
So which company is
the better choice? The company that offers 50% of the total funds raised or the
one that offers 30%. Without thinking about it, a lot of people would say take
the 50% cut. The truth is that the higher percentage doesn't always necessarily
make you the most money. Remember, the percentage should only play a part in
your decision making process. NEVER choose a fundraiser based solely on the
amount you think you will make.
You're going to want
to really look at the pros and cons before choosing. You definitely want to
find a product that is inexpensive and can be diverse. Is it gender friendly
and can it be used for more than one purpose? Gift cards are a great example!
You also want people to feel comfortable and not feel like they're being forced
into buying something just because it's their child, grandchild, or friend's
child. They'll be more likely to participate each time if you keep that in
mind. Don't be afraid to receive small percentages for participating in events
like dinner night with places like McDonald's, Boston Market, etc... After all,
it's a good way for you to meet and socialize with parents and other school
officials. Best of all, some money is better than no money!
If the reward does not seem like it could outweigh
the time, work, and resources you and/or others might have, then that
particular fundraiser may not be the best fit for you.
Well
Known vs. Small Businesses
There's absolutely
nothing wrong with working with the more well-known businesses. Both are
actually great choices! I, personally liked going places where people knew my
name, preferences, I could reach someone in case of issues/questions, and where
my organization didn't have to wait long to receive the funds we earned.
Sometimes I just like that 'homey' feeling. Besides, those AUTOMATED systems
are an absolute PAIN! I definitely don't like being a number, if you know what
I mean.
I always say support
your local community. Chances are the local smaller guys will work with you
more because they can/want to help. They care about their community especially
if that's where they live.
Don't
be Scared of Contracts
Like your
organization, your potential prospect is a place of business. They want to
protect themselves just like you do. I think contracts are great! It's
extremely important to clearly lay out what is expected of all parties involved
before the start of any business venture. This doesn't mean that you should be
reading and signing something that was designed to confuse you. If it does, ask
questions! NEVER sign anything you don't
understand. 'There's no such thing as a stupid question'!
*Tip: Don't get
caught off guard! Before you agree to anything, always find out if there are
any upfront fees or other fees to participate in your potential fundraiser.
Working with Multiple Companies
The goal is to
maximize your fundraising potential, right? There's no rule that says you can't
work with more than one company for the year. If a company's contract requires
that you only work with them for the year, you might want to reconsider working
with them. They can't guarantee your yearly potential. Don't sell your
organization short. If you feel like working with more than one company is just
too overwhelming, schedule your fundraisers at different times (One in the
FALL, the other in the SPRING). Let your board be the one that sets the bar for
raising the most money for your future boards! Within reason, NEVER limit
yourself or your organization.
Convenience of a Helping Hand
Sometimes working
with a particular fundraiser or company can make you feel stressed because of
the workload. Look for a company that's willing to get their hands a little
dirty. Putting in a little work never hurt anyone. If there's a lot of
paperwork, money to count, items to sort at the end of the fundraiser, etc.,
see if they'd be willing to help out a bit. Asking a question or two never hurt
anyone. This is definitely where working with the smaller business can be
beneficial.
Plenty of Notice
You want to give
plenty of notice to all parties involved (You, the company, kids or elected
fundraisers, and your potential consumers). We all know that scheduling
sometimes doesn't go as smoothly as you had hoped. This would be a good time to
have Plan's A, B, and C. Decide on a few dates that you think you would like to
have your fundraisers. Generally, it's a good idea to at the very least give
your potential prospect three weeks to prepare all materials needed to help
provide you with a successful fundraiser. If applicable, a week before the
fundraiser begins, you should send a letter to your potential consumers. For
example, if your organization is a school, send a parent letter home with the
kids (elected fundraisers) so that their parents (potential consumers) are well
aware that your organization will be having a fundraiser. That will give them
ample time to spread the word to friends, family, and neighbors.
*Tip: The duration
of your fundraiser shouldn't be too short or too long.
Payment
Don't worry, you'll
get it. It's ok to be worried about receiving your funds from the company
especially if you're working with them for the first time. Chances are they're
a little worried about your commitment especially if you didn't have to pay any
upfront fees. This is one of the reasons why I believe that having a contract
is a necessity. Think of it like your
hiring a contractor. In your mind, you're hoping that he does an outstanding
job. In his mind, he's hoping that you will stay committed to agreeing to pay
him in full when he finishes his job.
Receiving your
portion of the funds raised should be received by check. Remember contracts and checks are the way to go. ALWAYS
create a paper trail. Make sure that you know how much your check should be
prior to you actually receiving your check. Also, Make sure that it is very
clear that you know how & approximately when you should be receiving your
funds.
Good
luck!
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