Looking On The Bright Side of Promotions
The school’s expenses sometimes exceed the money they receive from the education department of the government. Also, the amount received from the school’s parents may not also be enough to cover all costs that the school plans to incur in a given period. Yet there is no room for adding fees paid by students by a substantial amount. To support new programs school have fundraising activities. Some of the methods school can use to raise extra funds are.
Schools can raise funds by making products or buying them and reselling at a margin. Such as opening a school canteen to sell snacks to both students and other people nearby the school. What makes this the good idea is that the person giving money gets a short-term reward for their investment. Hence increasing the number of people who become buyers of the school’s products. Also the students participating in the exercise acquire essential business skills and get to interact with various business gurus who volunteers to help the school establish a successful business activity as a means of raising funds.
The schools can also seek corporate sponsorship as a means of raising funds. Companies understand the importance of innovation, therefore, are willing to sponsor new school programs. Such as offering financial support to building of a school library and acquisition of new edition school books. The best thing about this idea is that both parties benefits, the school gets financial assistance, and the business create a good public image and reputation. Also, the school by accepting the financial help of a company is helping them achieve their core value of corporate social responsibility.
Selling of competition tickets where the buyer stands a chance to win the grand prize. The objective is to sell as many tickets as possible by making the winning very lucrative to the target market. Everyone likes to win, and therefore the school will find a large group of people who will not give money to the school directly but are willing to participate in the competition.
The success of the school fundraising is dependent upon the number of ideas used and the effectiveness of each idea. Hence school will increase the success rate of a fundraising by using a combination of various ideas. also the ideas used may stimulate the goodwill of people to contribute even more than the expected amount.