Generally when asked the
question, how much money would you like to raise
at this event? most hosts realize that they havent
given it enough thought. Having a realistic goal of how
much money you would like to raise is the key starting point.
It should determine the price of your entrance fee and the
limit of your expenses.
how much money you would like to make from this event.
a statement of your proposed Revenue and Expenses.
Obviously the key to your Bottom Line is to maximize your revenue and minimize your expenses.
As fundamental as this concept is, most organizations disregard
it when running one of these events.
Revenue for a fund-raiser
will typically take the form of one, some, or all of the
Delegate the task of ticket sales to more than one person.
It is far easier for 20 people to each sell 10 tickets than
it is for 1 person to sell 200 tickets. Hold each of these
20 people responsible for the sale of their allotment of
Bottom Line: This is usually
your primary source of revenue and the financial success
of your event depends on meeting your goal of tickets sold.
Find at least one table sponsor for each casino table being
used and the sponsored amount should generally be at least
$100. Encourage your sponsors to provide gag
gifts that promote their business to be distributed at their
table. For example - a blackjack table sponsored by a dentist
could give away a free toothbrush (with the sponsors
name imprinted) for each blackjack that is dealt. Or, the
dealer could be dressed in the sponsor uniform. Make your
sponsors feel as though they are getting value for their
donation and not only are they more likely to attend the
event, getting a similar sponsorship the next year will
be much easier.
Bottom Line: Table sponsorship
should cover at least the entire rental cost of the casino
equipment and staff.
This will vary depending on the upscaleness
of your event. Ticket prices and what people are getting
for their money will generally determine whether guests
drinks are included in the ticket price or if they need
to pay for them. Typically, the more expensive the entrance
fees the less likely you are to charge additional for drinks.
On drink inclusive events a limited bar (beer,
wine, soda) is suggested to curb costs. On other events
entrance fee usually includes two drinks tickets
which are typically redeemed at a rate of one ticket for
a soft drink and two tickets for wine or beer. Additional
drinks require the purchase of more drink tickets.
Bottom Line: Drinks can vary
between being a good source of revenue to being a very large
expense. Manage your bar wisely.
This follows a similar format to your drinks.
Bottom Line: Dont leave
people feeling short changed because of poor
quality or insufficient food. However, dont spend
all your money on providing a spectacular meal because that
is not the focus of this type of evening.
These are often incorporated into a casino evening and I
offer the following advantage/disadvantage thoughts on the
inclusion of a silent auction.
Opportunity to raise more money
Requires additional sponsors to donate auction items
Interrupts flow of casino evening and takes people away
Much more organization and coordinating involved
Guest often feel hit-up two or three times in
Bottom Line: Silent auctions
are often the backbone of revenues generated at fundraising
parties. However, they do require a lot of time and effort
to coordinate successfully. Delegate at least one person
whose sole responsibility is to manage the silent auction
of the event.
Live auctions can generate a tremendous amount of revenue
for the event, if done correctly. There are several key
ingredients to a successful live auction.
Maintain a captive audience - shut down all other activity
during this time
Shorter is better - your live auction should run no more
than 30-40 minutes
Less is more - have only a few; generally less than 10 -
high ticket items for auction
Use a dynamic auctioneer
Bottom Line: Keep the live
auction short and it can be very, very sweet.
As part of their entrance fee guests
are usually given an initial stake of script
or funny money. If they lose this initial stake they should
have the option of acquiring more money for a token donation.
This is an additional source of revenue though generally
not to the extent that hosts expect it to be. Primarily
because guest, for the most part, gamble conservatively.
You want to give your guests a sense of having received
value for their entrance ticket so be sure to include enough
script money in their package. I suggest a minimum amount
of $100 to $150 in script. Anything less and guest might
feel a little short changed. Much more than
this and you greatly reduce the likelihood of many people
purchasing more script. Regarding the purchase of additional
script: Make the additional donation an amount
that is a round number and covered by a single bill ($5,
$10, $20, $50 etc.).
Keep the donation to an amount that encourages
people to get more script rather than setting it too high
and not having anyone buy in again.
Again, the fundamental rule regarding
expenses is to keep them to a minimum without compromising