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. The major limitation of depending upon school fees alone as the source of income is that the school cannot change school fees structure without consultation with all the stakeholders which will take a very long time. To support new programs school have fundraising activities. The following are some of the fundraising ideas that schools can use to raise a high amount of money.
The first method is school investing in a relatively small retail business venture. Such as opening a school canteen to sell snacks to both students and other people nearby the school. 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. Many businesses are willing to play a part in the growth and development of schools within their area location. Such as offering financial support to building of a school library and acquisition of new edition school books. 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.
Fund for new school programs can also be raised by starting selling tickets to a game which participants stand to win big prizes. 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. 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. The use of several methods makes the school stand a better chance of raising the targeted amounts of funds. We have people who will contribute due to the school perseverance in its methods of raising funds; fundraising has never been easier, with the current technology people from all over could contribute.