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 system used to come up with some school fees each student should pay is very rigid hence lacks elasticity to cater for new school expenses. Therefore schools are considering having to fundraise to cater for their expenses budget deficit. Some of the methods school can use to raise extra funds are.
One of the simplest fundraising ideas is starting products selling program. 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. Hence increasing the number of people who become buyers of the school’s products. It is common for persons who have in business for a long time to offer to help to student in setting up a successful business venture and guide them on how to maximize profits which are valuable lessons to the students.
School fundraising also be done through the involvement of the nearby business community. 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 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. Schools should take advantage of the corporate social responsibility as many companies are seeking for activities to be involved in as part of fulfilling this responsibility.
Another idea that schools can use to raise revenues is creating a prize-winning competition. The idea is to create a relatively simple contest which all a persons need to do is buy a ticket and wait to find out if they will be announced as the winner. 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 success of the school fundraising is dependent upon the number of ideas used and the effectiveness of each idea. 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.