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Fundraising tips from ELC Kyle Rinderle

February 27, 2013

Fundraising – the ability to make/raise money is a skill every business student should know before he/she graduates.

The fundraiser I have always seen as the most appealing is raffles.  The pure potential of raffles should be enough to make a chapter willing to give it a try.  Ask yourself how many students attend your university.  Now imagine your revenue if each of these students gave you a dollar for a chance to win an item.  Some of the failures I have seen among chapters doing raffles are the following:
1) Not putting significant thought into the item that is being raffled
2) Holding the raffle for too short period of time.

Raffle an item that students want to win.  A $20 gift card to the local coffee shop is appealing but not always worth pulling out a wallet – a handful of gift cards (to all local restaurants), on the other hand, is worth winning any day of the week.  Often times local businesses or the bookstore are willing to donate items.  See if you can gather a donated iPad, Kindle, iPod, or PS3.  Other items all students never have enough of, are university gear.  Compile a University Pride basket that includes items such as t-shirts, sweatshirt, banner, thermos, etc.  Better yet, compile 3 baskets – a small, medium, and large to increase the chance to win and give the chapter more displays.  Students are more likely to participate if they can see what they might win.

Don’t think a raffle only lasts for one month.  Have the raffle span the entire term.  Set up a schedule so that week one you are in the student union.  Week two set up in the business building.  Week three set up in the Science College.  Week four schedule a table in the recreation center.  Gain exposure to every student.  Use events (recruiting, professional, social) to promote the raffle.  Do not settle for selling one ticket to each student.  Expand your potential by selling one ticket for a dollar and five dollars for an arm’s length (their arm? your arm? make it fun!).

At the very least, set up a Fundraising Committee and give them fundraising goals.  Make the goals challenging but reasonable, and hold the Committee accountable.  Incentivize the chapter into participating in fundraisers with the prospect of decreasing dues.

– Kyle Rinderle

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