So you’ve started your club and are getting members. You know what would really help? Money. With money you can create awesome events, host cool social gatherings, get necessary materials and supplies, create custom apparel, travel, hire a guest speaker, whatever you want.
Now how to pay for it all…. There are many ways to get money and to pay for your club’s needs. Some good ones are getting sponsors, fund raising through something like a bake sale, charging your members a fee, and loans and grants from the associated student body.
Getting sponsors is a good way to go. A good example of this involves my club, the League of Vikings. As a League of Legends club we have taken steps to get support from the League of Legends creator Riot Games. As a result of being associated with them they supply us with gaming gear, league of legends swag, tournament/event support, etc. If you can cultivate a relationship between your club and say a local business you might be able to get something good. Of course this isn’t really free. The best way to form a relationship like this is to be able to give something back in return for their support. You can offer advertising space, product placement, or something else that they value and makes it worth their while to help your organization out. If there are no obvious organizations/companies to ask then I might suggest cold calling/emailing some local businesses or something. For example, if I were to be hosting a large viewing party with at least a 100+ people I might be able to contact Intel or Razor for some gaming gear or Monster for some energy drinks in return for advertising at the event. You never know.
Bake sales are another decent way to go, though I wouldn’t expect too much out of this. Walking in campus you’ve probably seen some of these in progress. As an AS organization you can reserve tables in vendor’s row at no cost, or reserve a table in Red Square or the VU 6th floor lobby. Just be sure to have your treasurer request a “change fund” from the AS Finance Office. You will receive a cash box and start-up cash from the Finance Office. After your fundraiser, you will then return everything and then deposit money into your club account. This is a good and kind of fun way to earn some cash. Depending on what you do you can expect to raise anywhere from a few hundred dollars to something in the lower double digits.
Membership fees are reliable way to make money but I would recommend against that as fees like these serve to drive away prospective members. Additionally these fees are generally pretty small so the amount of money you generally collect isn’t a huge sum. Some clubs I know have been able to make a lot out of this and use this amount to host events they would charge admission to and enlarge their funds more.
Lastly there is the AS to consider. If you event benefits students and your can convince the AS council that it would be worth it to fund you it is possible to get funding anywhere from a few dollars to a few thousand. A little known fact about the AS fund is that annually every student pays ~$75 dollars in tuition that goes to the AS fund so there is quite an amount of money the council has to give out. Generally as long as there is value for students and you can demonstrate the need/service provided you can get the money from them. Be warned though, this method can take a few weeks between the paperwork your treasurer will be filling out and meetings you will be needing to attend.
Hopefully you now have some idea as to how to get some money for your club. Fundraising is a fun and popular activity for many clubs, so get out there, have fun and raise some money.
How to get money for my club
How to get money for my club.
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Getting money for the club can be stressful, but frankly speaking, the easiest way is to take a loan. I have read at Fit My Money that it is better to get funds from the leading company for any start-up. Thus, it would be the most effortless way for opening your club as all these events and activities require some investment. That’s a great idea of yours, good luck!
I fully support you. Thanks for sharing your thoughts
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