Info about Prizes
Prizes - What to Give Away at a Raffle
Raffle prizes are a great draw to get people to spend money at any fund raising event or fair. The effect is multiplied when the proceeds from the raffle are to be given away to charity. Here are some tips on what to give away as raffle prizes and also how to advertise for your raffle.
The majority of people who are planning to do a raffle will probably be doing so as a part of a fundraiser event. These contests are a great way to raise money because you can set them up as part of the entrance fee to the event. When creating a flyer or advertisement for your event you can make the cost of admission be a ticket to enter the sweepstakes that you are having as a part of your fund raising event. Guests can pay the admissions fee and be automatically entered to win a number of prizes. Each guest should have an equal opportunity to win the prizes however the best way to make more money for your fundraiser is to sell tickets so that the person holding the most tickets will have the greatest change of winning the prizes. Then it will become a competition among guests to buy more tickets and as a side effect you will make more money.
The prizes that you select for the sweepstakes should be appropriate for your event. If your event is something small like a school fundraiser or just something among friends, you can opt for cheaper prizes like a game console or mp3 player or other items that only cost a few hundred dollars or less. However if you are doing a larger event such as one that would involve the entire community or a regional event you should opt for the most expensive prizes that you can reasonably afford. At large events like these people are only going to spend a lot of money to enter the contest if the reward is high. Therefore you might want to consider giving away a car, boat or vacation.
You can even give away money if you want, however in terms of cost and profits it will probably be much cheaper for you to just buy prizes to give away. Another way to increase the revenues is to give away multiples. If you set up the raffle so that there are 1st, 2nd and 3rd prizes, participants may be more inclined to enter because they will feel that they have a greater chance of winning.
Raising money from a raffle does not have to be difficult when you know the right prizes to give away. Take some time to plan your raffle right. Do some research and find out what the latest products are that people are really interest in winning or buying and then give away those items as a part of your raffle. That way you will be guaranteed to make money instead of just hoping and assuming people will pay to enter your raffle.