The school’s expenses sometimes exceed the money they receive from the education department of the government. This means that the amount paid by students for school fees is not sufficient to meet the need of the institution. Yet there is no room for adding fees paid by students by a substantial amount. Fundraising activities are becoming popular in many schools as a means of meeting the extra school expenses. 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. For example it is a popular idea to have school students selling cookies. The good thing about this method is that the person paying for the products get something in return for the amount of money they pay. Thereby school can get a huge market, unlike any other ordinary small retailer. Also, this idea is also beneficial to the students in learning business schools and also being trained by various business mentors who appreciate the school’s efforts to raise revenue.
Another way of raising funds is an[approaching companies to assist the school financial start the new programs. This are institutions that are will to assist the school raise funds to host an individual event. For example there are numerous academic contests that are sponsored by large enterprises in the state. The company benefits by creating a publicity about their goods and services through paying for the expenses of the school having a given event. One of the core values of many companies is social responsibility; thus schools should be aware that the business is also seeking a strategic partner to help them achieve their core values.
Selling of competition tickets where the buyer stands a chance to win the grand prize. Schools can raise funds by creating a game where participants are supposed to purchase a ticket with a code which at the end of the game one code is selected and the person with a matching codes win the highest prize. On top of standing a chance to win participants are also lured to buy more tickets by the thought that the money is being raised for the growth and development of a school.
The best way to raise school funds quickly is not to use just one best method of raising money but to use a combination of ideas. Therefore the school can receive money from a large group of people. also the ideas used may stimulate the goodwill of people to contribute even more than the expected amount.