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For Profit Fundraising - Tips and Ideas From ABC Fundraising®
If you are interested in for profit fundraising, read this article.
Usually, we mostly hear about non profit fundraising. Charities, causes, groups that need our help and money because they can't get it anywhere else. For profit fundraising gets less attention is but is equally important. Businesses, particularly small businesses and start-ups can certainly use infusions of cash that for profit fundraising can deliver. The exceptional thing about for profit fundraising that often differentiates it is that the donors in for profit fundraising often expect a later return on their investment.
With non profit fundraising or school fundraising, donors donate to help you or your cause. They usually receive something in exchange for their donation, a product like candles or cookie dough, coupons, dinner or a tax write-off. With for profit fundraising, the donor will give an amount of money and often they will get a stake in the start-up company or the promise of potential money in the future. For profit fundraising can be exciting for both those raising the money and those donating because of the profit potential for both.
Some tips to consider with for profit fundraising. Unlike the student selling cookie dough, when you approach your potential donors for money, you must be prepared. Have a business plan ready. Have answers to any and all possible questions about where the money they donate will go. Know how much money you need and why. Know what your exit strategies are. Be confident in what your plan with the business is and how you intend to make that happen. Know what you want their role to be. For profit fundraising definitely requires planning and organizational skills.
Stay motivated and don't be discouraged if you are turned down. You will likely be turned down a lot when you start for profit fundraising. Don't let that discourage you - keep at it. Take suggestions, advice and criticism from your failed potential opportunities and use that to make your next pitch better. When for profit fundraising, you have to keep going until you find someone who shares your vision or your passion. Work on ways to communicate your passion and vision and your for profit fundraising meetings will improve.
In your for profit fundraising, make sure to follow up with your contacts and network to get more potential donors who might be a good fit to support your business or organization.
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fundraiser we've ever done! With 40 kids fundraising we raised
over $3,200 in under 2 weeks! Thanks ABC Fundraising! You guys have the best school fundraising ideas!"
Tim Lenderman -
Hollywood High School Football