Last updated on December 14, 2015
Whether you are starting a new venture or have an established business, money matters. Your business’ financial status will determine the type of space you can rent, equipment you can afford to buy, how many employees you can hire and so on.
But you don’t have to rely solely on income from customers to generate revenue and new clients.
Fundraising can be an integral part of your business plan, helping to bridge the gap between your profits and extra business expenses. If a particular fundraiser goes extremely well, you can even make it an annual event; something that the community looks forward to attending each year.
What can you do to raise money for your business? Here are some ideas to get you started. This is certainly not a complete list, but it will get you started on your brainstorming. Look over these examples below and then fine-tune your idea. Good luck!
Food
Everyone needs to eat! Why not create an event where people can enjoy a meal? They pay for the food while donating money at the same time.
For example, you could easily offer a pancake breakfast or a chili dinner. Any meal of the day will work. The concept is to plan a meal that is inexpensive, and charge per person. Also, politely inform guests that any extra donations are greatly appreciated. Sometimes people will donate much more than the cost of the meal.
Host an Event
Your event could be a fun, family-centered activity or an elegant evening affair. There are multiple angles and ideas that would work. You can turn it into a grand event or a simple get together.
Some enjoyable event ideas include:
- Cooking contest invite some local celebrities for more appeal
- Talent show
- Dance party
- Carnival
- Cocktail party
- Spa night
- Holiday party
- Sports tournament- golf is a popular one
Swag
People love free or inexpensive gifts. Print some t-shirts, sports balls, pens, sticky notes; you name it. Anything that is fun or useful to a potential client. You can offer swag for a fee at your place of business, at an event, or through direct marketing. You can also offer swag in the form of a free prize from an event game or as a bonus gift for attending your event.
If you offer items for free, make sure you are charging enough at your event to cover the cost of the swag while also raising funds.
Sponsors
Many businesses are more than willing to donate their products and services to a fundraiser; this helps them increase customer awareness of their company as well. It’s a win-win. Raffle drawings, gift baskets, or silent auctions can be a great source of fundraising income.
Competitions
Doing an online search for business competitions can also yield results. However, most of these competitions are for small businesses that are in the planning stages or are just getting off the ground.
There are also companies out there, such as KickStarter, that offer funding for new businesses if you apply.
No matter what you plan for your fundraiser in Lehi, don’t forget to market it! Let your customers know well in advance what you’re planning and remind them several times. Use social media, mail, flyers; etc to advertise your fundraising event and you will be sure to have a great turnout.
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