How to Raise Funds Fast with a Successful Raffle
Why a Raffle Can Be a Great Fundraising Tool
A raffle can be a great fundraising tool because it is relatively quick (although not immediate), profitable, low-cost, manageable, and has long-term benefits beyond the fundraising goal. No matter the size of your organization, you can benefit from a raffle fundraiser because you can control the size and scope of the event.
Compared to other fundraising methods like gala events or golf outings, the costs for organizing a raffle are low. You can manage the raffle’s net result to meet your fundraising goals by adjusting the number of tickets sold, the cost of the prizes, and your marketing and administrative costs. The best situation is to have the prize donated, or the cost of the prize underwritten by sponsors. If the costs of the prize are covered in one of these two ways, then your net proceeds for the raffle will be higher.
As you plan your fundraising raffle, the very first thing to check is the raffle laws that apply where you live. If raffles are prohibited, then you’ll save yourself a lot of time by finding that out first before you spend a lot of time planning, then having to cancel your plans!
Next, consider if you can obtain an attractive raffle prize. Not just a ho-hum, average prize, but something really great that people will WANT to buy tickets for. Travel packages, a car, a flat screen TV, are all great prizes. Even something modest like a big gift basket can be a great prize. Just make sure that it is something with broad appeal. Gift baskets with lots of gift cards donated by area restaurants, sweets, and coffee or wine can be great prizes. Just be creative and think of something that everyone would want to buy a ticket for!
So, you have a great prize. Now set the price of the ticket at a level that is appropriate for the prize, but not so high that people don’t want to buy a ticket.
Think about what are you trying to achieve with your raffle fundraiser. Exactly how much money are you trying to raise? Your fundraising goal is the net proceeds from total ticket sales minus your expenses. Therefore, if you can get the prizes donated or at a low cost, the higher your profits will be!
Finally, you need to have a motivated sales force. Don’t rely on advertising or other means to sell tickets. The most successful raffles have a core group of volunteers who are willing to sell tickets one-on-one, to friends, family or at a sales booth.
If you have a great prize, found at a great price, a good ticket price and a motivated sales force then you may be on your way to a highly successful raffle!
Article courtesy of: Raffle Secrets
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