So I wanted to come up with a new idea for fundraising that would be quick, impossibly easy, and yield high results. I stumbled upon a popular fundraising method known as a 50/50 raffle. It is simply a raffle, and the winner receives half of the money earned. So if we sell 200 tickets for a dollar, then the winner gets $100, and we get $100. The restaurant fundraisers hope to get $30 - $50. If we sold 120 tickets at a one dollar we'd already exceed the amount of money we make through the restaurants and there are no rules we have to follow except our own.
I like the 50/50 raffle because it is easy, versatile, and can easily be repeated. There is low risk for the people who are involved, because they are only giving up $1, which will make selling tickets super easy.
I also did the Small Project Management questions to give more specifics on how it will work.
50/50 Raffle
Identify the "what".
1. What is the project supposed to achieve?
- The point of the 50/50 raffle is to raise money quickly and without much effort.
2. Who is the customer?
- The customer could be anyone potentially, but I would like to focus it on college students and those who support the film program at UNCW
3. What are the deliverables of the project?
- The deliverable is cash, which we will have on hand.
Identify the "how".
4. What is the budget?
- This is the best part! All we have to buy is tickets, maximum $10.
5. How long will it take?
- It depends on where/how we decide to hold it. If we do it as part of a campus event, like a baseball or basketball game it only takes the time of the game (1-2 hours). If we decide to do a 3-day campaign for example, it would take the length of 3 days, plus a few more hours spent on campaigning.
6. What specific skills are needed?
- Excitement!
- Marketing
- Planning
7. What special resources are needed?
- Permissions from event holders and campus.
8. Who is working the project? What is each person's job?
- I will be doing most of it, likely with a partener. If we decide to do a campaign it might involve the class, but only on a small scale. They might spend 1 - 2 hours on it, probably less.
9. What is the schedule?
- Get approval to set up a booth at an event or on campus
- Buy tickets
- Work with PR on marketing strategy
- Market!
- Day of event:
+ Set up
+ Sell Tickets and Promote
+ Draw Winning number and Announce Winner
+ Award Prize
+ Tear Down
Other considerations.
10. What are the risks? (Small vs. large impact, likely vs. unlikely)
- The only risks are small, and that is that no one participates. If that happens we still don’t lose any money, because the tickets can be recycled for another date.
11. How will you communicate with your team?
- I will communicate through class meetings and text/facebook
12. How will you determine if the project is successful?
- The project is successful if we make money! I would like to set the goal at $50, but I’m sure we can make more than that.
Excellent Audra!
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