Many schools nowadays are struggling to raise funds internally or get sufficient funds allocated by the government. This is because the government is reluctant to allocate more money to support new school programs. The major limitation of depending upon school fees alone as the source of income is that the school cannot change school fees structure without consultation with all the stakeholders which will take a very long time. Fundraising activities are becoming popular in many schools as a means of meeting the extra school expenses. The following are some of the fundraising ideas that schools can use to raise a high amount of money.
The first method is school investing in a relatively small retail business venture. For example it is a popular idea to have school students selling cookies. Many people are open to this fundraising idea as they see the value for their money immediately. Hence increasing the number of people who become buyers of the school’s products. Also the students participating in the exercise acquire essential business skills and get to interact with various business gurus who volunteers to help the school establish a successful business activity as a means of raising funds.
The schools can also seek corporate sponsorship as a means of raising funds. Many businesses are willing to play a part in the growth and development of schools within their area location. For instance, companies may offer to buy the school games uniforms and kits. This idea may offer the company an opportunity to grow their marketing plans leading to more sales. One of the core values of many companies is social responsibility; thus schools should be aware that the business is also seeking a strategic partner to help them achieve their core values.
Another idea that schools can use to raise revenues is creating a prize-winning competition. The idea is to create a relatively simple contest which all a persons need to do is buy a ticket and wait to find out if they will be announced as the winner. The advantage of this method is that people even if they do not win they do not feel like they lost money as they the money is being used in a school program that is beneficial to the students.
The success of the school fundraising is dependent upon the number of ideas used and the effectiveness of each idea. Therefore the school can receive money from a large group of people. Having a creative fundraising idea can help even exceed the targeted amount.