Our goal with this series is to prepare you to run a professional campaign to give you the best chance of meeting or surpassing your fundraising goals. HOW? You might ask – Easy. We have broken it down into 8 categories and will … Continue reading
Many factors go into properly pricing raffle tickets. Here are a few things to think about before pricing your raffle tickets:
1.What is the value of the prize?
2. What price range are your potential donors willing to donate?
3.Will the ticket price allow you to reach your goal?
Let’s look at an example: The ABC School wants to raise $50,000. The ABC School has 500 families and anticipates selling ticket packages to 1,500 different donors. A simple math equation will tell you if everyone of the 1,500 donors buys only 1 ticket, you will need to charge $33 a ticket ($50,000/1,500=$33). Depending on the prize you may feel $33 is too steep for your donors. So lets take a look as a simple resolution; volume packages.
It is always beneficial to offer volume packages. Most donors when viewing a fundraising page with 5 different raffle packages tend to purchase the second or middle package. If the ABC School were to charge $20 for 1 ticket, 3 for $50, 6 for $80, 10 for $100 20 for $150 they can still easily reach their goal because many donors will elect to increase their donation above the bottom option.
Raffles are a way of raising money by selling tickets for a chance to win a prize. These tickets are then drawn at random to choose the winner.
Raffle’s date back to the beginning of human civilization. Even before tickets could be printed and way before you could hold an electronic drawing, The Old Testament states that Moses used a lottery to award land West of the Jordan to his people. Since then ancient Babylonians, Egyptians, Greeks, and Romans all ran some sort of raffles for themselves and their people.
The idea of using raffles to raise funds caught on strong after these pioneers first introduced raffles to their cultures. In today’s world, Raffle Ready has created an easy way to run raffles, while generating maximum profits.
Raffles usually require a lot of man power to process all of the donor/ticket data, however. For non-profit organizations, raffles are often the most effective fundraising method because everyone likes the chance to win a prize, while helping a good cause. However; many nonprofits struggle with a lack of time and resources needed to manage a raffle, that is why nonprofits across the country are turning to Raffle software programs to automate their raffle fundraiser. Next time your organization is considering running a raffle, calculate your complete raffle costs and call Raffle Ready to see how they can help.
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