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Extra Credit

Entrepreneur, April, 2000 by Gwen Moran

Want to boost your sales? Go back to school.

School-based fundraising programs could add a whole new force to your sales team.

"There's money to be made in fund raising," says Carol Exley, owner of Colorado Gold Promotions Inc., a promotions firm in Lakewood, Colorado, that works with schools and nonprofit organizations to structure product-based fund-raising programs. "But you have to be smart about it."

Exley evaluates the fund-raising needs and capabilities of her clients and assists them in designing programs that will ensure the success of their fund-raising efforts. To do this, she draws on Colorado Gold Promotions' local resources as well as its national suppliers.

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* Examine your product. In Exley's experience, some of the most successful products are affordable consumables, such as candies, cookie dough and, more recently, frozen foods; flowers; customizable products, such as apparel; and home-decorating items.

* Count costs. Most school groups expect to make 40 to 50 percent of the cost of the item during the fund-raiser. The manufacturers must absorb related costs, including shipping and order-form printing. Do some quick math to see if your profit margins will support those numbers.

* Decide on prepaid or postpaid. Your fundraiser can require payment either with the order or upon delivery. Exley generally structures prepaid school promotions, especially when perishables are involved, to avoid problems with collection after the product has been delivered.

* Get the timing right. According to Exley, the ideal length of a school fund-raiser is two to three weeks, including at least two weekends. Longer events may result in procrastination; shorter events don't always give enough time to produce results.

Business Services Industry

Extra Credit

Entrepreneur, April, 2000 by Gwen Moran

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