Schools constantly need money for various activities. This is especially true for non-profit schools. Profit based private schools and government run schools sometimes need money for various reasons. Beyond this, schools might want to raise money for causes that do not involve them e.g. disaster relief, war relief, education for all etc. In these cases, donation based crowdfunding can be of great use. But there are other ways of raising money. School fundraising is one of them.
Donation based crowdfunding can be pretty tiring for your donors especially if you have already just done a round. This is why it is good to have other crowdfunding tricks up to you. While you can use equity crowdfunding to pool in investment, you can use catalog fundraising to pool in money for other causes. However, do remember that India crowdfunding does not include equity crowdfunding as SEBI has put it on hold.
School fundraising through selecting catalogs involves going to a website to order something you can sell. The order is places in bulk and the website makes a marginal profit on the product. Once you have the product, your sellers go out and sell this product to people. The difference between what you paid and what you got makes for your profit. This is what you would be donating. This is very similar to rewards based crowdfunding, but in rewards based crowdfunding the reward is not the focus. Here, people pay for the product.
Depending on what you like, there is a wide range of products that you can select from and a wide range of websites from where you can get those products. This is why it is important to know exactly what you are looking for in your catalog. Hopefully, this post will help you figure it out.
- Fundraisers in India involve a pitch where you explain your project. In this kind of crowdfunding, the website explains the policy and system to you and tries to attract you. You are the buyer. You do not need to write a pitch. You just need to figure out which place gives you a better deal.
- You have to figure out which place works the best for you. Some places do not take any shipping charges. Others allow you a certain discount. In many cases, you can pay the money after you have sold the stocks. There are different catalogs that everyone provides. However, if your catalog does not provide you any benefits, there is no point in taking it.
- Figure out your sellers. Your goods will be sold by a team of sellers. Make sure you form that team first. Your team will likely consist of students. You should keep their age group and income level in mind when ordering for things to sell. For example, if your sellers are all under ten children, it makes sense to ask them to sell things that they are interested in, e.g. chocolates. If your sellers are low income students, make sure that you order cheaper goods to sell. Pencils, erasers etc. are all cheap goods that can be sold by low income students to their friends.
- Your students will only be invested in things that they can identify with. Keep this in mind when choosing your catalog.
- Safety is the watchword when you are asking students to sell things. The colors should be harmless; nothing sharp should be handed to students etc. If you get a package for safe for children material, you should consider that.
There are various other things to keep in mind while choosing a catalog. This is only a non-exhaustible, brief outline.