Home > Planning > Advice on Raising Event Funds

Advice on Raising Event Funds

By: Thomas Muller - Updated: 4 Apr 2012 | comments*Discuss
 
Cheaper Budget Event Benefactor Ticket

If you have event ambitions but not the patronage of a generous benefactor, then you must think about how you can raise the funds to pay for the occasion.

Drumming up Financial Support

You don’t need to have pots of your own cash to stage your own event, most non-profit events rely on charitable donations, sponsorship, ticket sales and good old fashioned prize draws to drum up financial support for their enterprises.

Sponsorship

If you have grand plans but a meagre budget then the first port of consideration is sponsorship. This is a partnership with a business or government department; you get the money or facilities for your event and they get to show everyone they’re do-gooders who contribute to community life.

When you’re looking for who best to target with your sponsorship hopes then it’s best to contact an organisation with similar motivations to yours or at least appeal to the same type of people.

When on the approach, opt for the personal touch – visit or telephone them rather than write an email or letter. This makes them feel less like one of many, and will make it harder for them to say no. Make sure you first have some good and creative ideas in your head of how you will promote their organisation at your event, and also don’t forget to wow them with your plans for the event itself. It won’t reflect well on them if their name is attached to a poorly-attended, mismanaged farce.

Businesses and organisations can also be encouraged to contribute by offering them advertisement space, such as in an event programme or decking the walls of the venue itself.

Ticket Sales

Another popular method of raising the money for the planning budget is to make it a paid ticket event. It is vital that you choose your price carefully so as not to scare off potential buyers but at the same time help cover your budget costs.

When choosing the ticket option it is important that you sell the tickets that your budgetary plans have assumed would be sold, otherwise you risk financial disaster.

For instance, if you’ve planned the budget of your event in anticipation of the money reaped from ticket sales, only to find that only a quarter of the tickets are sold, a worrying black hole will appear in your account income. A way to avoid this is to budget your event to selling a minimum number of tickets rather than a sell-out, and then get each of your organising team to commit to selling a minimum number of tickets.

Freebies and Discounts

If are an upright citizen with a righteous event to organise, and not a business out to make a handsome profit, then it is always worth foraging for any freebies and discounts that you can find. If you simply ask, a surprising number of local businesses will be willing to donate goods and services to your cause, particularly if you have charitable motivations – ever aware of the importance of maintaining a good reputation within the community.

Raising Funds on the Day

If your event can accommodate it, then a prize raffle, auction, tombolas are all great ways to raise funds. Local businesses will often donate the prizes, leaving the income from the ticket sales to go towards paying for the occasion.

Another popular way to pull in the cash on the day itself is to feature stalls set up by contributors from the local community, or by selling food and drink. If your event is not providing food and drink as part of the ticket price then it is wise to make it available somehow, and selling it to help raise funds is an excellent option.

Can it be done Cheaper?

If you are still ultimately struggling to match your ingoings with your outgoings then take another look at your plans and ask yourself whether there is a cheaper or more straightforward way of achieving your goals.

You might also like...
Share Your Story, Join the Discussion or Seek Advice..
Why not be the first to leave a comment for discussion, ask for advice or share your story...

If you'd like to ask a question one of our experts (workload permitting) or a helpful reader hopefully can help you... We also love comments and interesting stories

Title:
(never shown)
Firstname:
(never shown)
Surname:
(never shown)
Email:
(never shown)
Nickname:
(shown)
Comment:
Validate:
Enter word:
Topics
Further Reading...
Our Most Popular...
Add to my Yahoo!
Add to Google
Stumble this
Add to Twitter
Add To Facebook
RSS feed
You should seek independent professional advice before acting upon any information on the EventAndTicketExpert website. Please read our Disclaimer.