Out-Winning With a Raffle Fundraiser
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â€œImpact a Lifeâ€ Scholarship contributor: Estela Esmerelda Brown
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Non-profit organizations all over the United States struggle to fund themselves due to increasing budget cuts caused by todayâ€™s struggling economy. Fortunately, non-profit organizations are out-winning the financial struggles by finding fun and effective ways to raise funds. A method of effective fundraising that has risen to popularity is holding a raffle. Non-profit organizations ask for item donations to raffle and raise revenue by selling raffle tickets. For many organizations, this has proven effective in raising funds.
Organizations holding raffle fundraisers can maximize the sales of their raffle tickets by selling them at a low price that is easily affordable by the buyers. Selling raffle tickets at one dollar per ticket seems most effective in maximizing sales. Most people have at least one dollar bill with them at any given time and are willing to easily give that amount. This raffle price gives the buyer the security of a low risk investment since if they do not win the raffle, then they do not lose anything more than a dollar. But in the off chance of winning, the ticket buyer gains a lot more than the initial amount invested. People are also more likely to buy more tickets for one dollar than even buying a single ticket for a higher price. Regardless of the outcome of the raffle, most people are able to spare at least one dollar to help out an organization they find to be raising funds for a worthy cause. This low pricing method guarantees that each seller from the organization is able to sell at the least one raffle ticket.
Most importantly than the price of the raffle tickets is the prize being raffled. Even though people are usually willing to buy raffle tickets to help out a non-profit organization, tickets are more likely to be sold if there is a worthwhile prize for the buyersâ€™ investment. Small electronic appliances such as juicers and quality Bluetooth speakers can be donated by companies and stores to be used as raffle prizes. These prizes stimulate ticket sales since it is a good prize that if won would be almost free comparing the price of the prize with the money spent on purchasing raffle tickets.
Another essential component to an effective raffle is ensuring volunteers offer raffle tickets and make sales. Part of achieving sales is maintaining sellers motivated to sell raffle tickets to ensure maximum effort. In order to maintain volunteers motivated, small prices for the top raffle ticket sellers can be awarded as incentives to sell tickets. These small prices could be gift cards to restaurants or stores. Many businesses will help non-profit organizations when asked for donations. These gift cards used as incentives for sellers could be obtained as donations from businesses.
Fundraising can be very burdensome and may even seem impossible to many non-profit organizations but through the proper fundraising efforts and planning, raising funds can be achieved. Holding raffles is one of the most effective ways of easily fundraising for non-profit organizations when well planned. Hopefully more organizations use raffle tickets to benefit their cause.