Starting a new business is an absolute adrenalin ride. You get to turn your dreams into a reality and build your own creation from the ground up — and it can be so much fun.
But when you kick-start a new business idea, funding takes precedence. Overheads are expected to keep rising in 2024, and there are lots of stats out there about the struggles startup companies face.
Apart from startup funding opportunities, business fundraisers can throw you a huge lifeline and make the difference that keeps you afloat.
Fundraising events get your brand in front of a new audience, can bring in new business, and offer a vital cash boost.
Read on to find out why fundraising for business is important, how to approach a fundraising event, and receive five fundraising event ideas to create amazing experiences your customers will never forget.
Table of contents
Why are events a great option when fundraising for business?
How to raise money for a business: 5 fundraising event ideas
How to do fundraising for business with events (step by step)
Business fundraising 101: 3 considerations for planning events
Why are events a great option when fundraising for business?
Around 76% of startups use personal funding to support their business. But as a startup business owner, you need a lot of capital — and personal funding can only get you so far.
That’s part of the reason less than 50% of new businesses make it past their first five years.
Fortunately, events are a brilliant (and fun) way to attract investment in your new business. You get great brand exposure without having to pitch to big-time capital investors, get stuck in a business incubator, or rely too much on crowdfunding sites.
If you’re looking for people to invest in your company or charity, it’s worth noting that 50% of the general population (those with an annual household income less than $200,000) donates, and 44% of donors attend nonprofit fundraising events.
Translation: If you want to get people to put money into your business, an event is a great way to do it. Now, let’s talk about how to create amazing event experiences that’ll inject your startup with some much-needed cash.
How to raise money for a business: 5 fundraising event ideas
The first step in setting up your fundraiser is to decide what type of event you’d like to organize. Think about your target audience and what sort of experience you could create to engage with them.
Not sure? Here are five fun ideas for business fundraising efforts that you can adapt to your audience and will help to raise money for your business.
1. Product launch
When you’ve got a new product to announce to the world, a product launch event is a strong way to do it. The right product can excite the audience and create word of mouth, generating media interest and increasing sales.
Product launch events are often associated with tech-oriented companies, with images springing to mind of Steve Jobs and Bill Gates announcing their newest innovations to a cheering audience.
For fundraising purposes, a product launch can generate pre-sales, as the FOMO (fear of missing out) prompts customers to sign up or make deposits to be the first to have it. They can also be attractive to sponsors since other companies love to bask in the glow of success.
Want to see a product launch done the right way? Check out Your Skins Desire and their upcoming YSD Product Launch Event.
Introducing the world to their new range of skincare products for 2024, this organizer’s product launch will include drinks, hors d’oeuvres, a live DJ, and product demonstrations to create an immersive experience for guests.
💡Pro tip: Your product launch should include strong visuals showcasing your innovation so that your audience can see and appreciate what your product does. Inspiring music and dramatic lighting can also set the mood. Just make sure it doesn’t shift focus from your cool, new product or service.
2. Grand opening (or reopening)
A grand opening is an ever-popular choice for new or remodeled stores.
They’re ideal for drawing the eye of the local community, with passers-by able to see balloons, banners, lights, and other attention-grabbers as they drive past and stop to shop.
Grand openings often bring in customers to see what all the excitement is about. Make sure your event includes sufficient decorations to attract eyes, and consider including either live or recorded music.
For lessons in best practice, take a look at Progressive Athletics and their recent Grand Reopening & SMART Workout! event.
With games, refreshments, prizes, and free guided workout sessions, this is the perfect way to introduce (or re-introduce) customers to your service offerings and what makes your business stand out.
💡Pro tip: Want to generate some extra money? Ask other businesses or members of your community to donate prizes for a raffle. That’s what Fred Astaire Dance Studios did for their recent grand re-opening. You could also see if neighboring businesses might partner on promotions, as all storefronts benefit when customers are drawn in.
3. One-off experiences
In a world of digital experiences and sometimes ephemeral realities, one-time pop-up dining and drinking experiences give guests the opportunity to connect and share an experience in person.
They’re all the rage in the culinary world, often featuring exclusive, one-time menus and invitations distributed to your closest followers and customers. Creating a community around food and drink is a timeless tradition; a one-off experience creates an event that may never be replicated.
Need inspiration? Take a look at the Reid Landry Garrant Foundation’s upcoming National Margarita Day Pop-Up Fundraiser. It’s exactly what it sounds like — and we’re totally here for it.
With a taco bar, margaritas from a cash bar, live music, dancing, and a raffle, they’re pulling out all the stops to create a unique pop-up that’ll raise money for their foundation.
💡Pro tip: Feel free to put a premium on pricing, as people often will pay more for exclusivity. For chefs, caterers, mixologists, and others looking to fund a new restaurant or bar, a pop-up event can attract investors.
4. Pop-up shops and stalls
Like pop-up dining experiences, pop-up shops and stalls are fun events that can introduce your wares to a wider public while creating a sense of exclusivity and excitement.
They can be extensions of an already-existing store or a one-time experience that builds interest through this unconventional path. They also drive sales by introducing your products to new customers in different neighborhoods. They can even attract investors looking for hot new products or concepts.
If you want to see how this is done on a large scale, take a look at event organizer Tall Size. This two-day event creates a unique shopping experience for a niche (and often underserved) audience.
Not only have they created two separate shopping times for different audiences, but their pop-up event includes on-site experts who measure guests and help them find the perfect clothes.
💡Pro tip: Want to maximize footfall while you’re fundraising for a business? Make sure you’re setting up in a well-traveled neighborhood that’s distinct from your usual haunts. It’s also important you choose a high-traffic area with a lot of footfall. This will open your event up to new customers and give people the chance to stumble on your event.
5. Workshops
Another great way to raise money for your business is to offer a workshop that showcases your company’s expertise.
Providing a seminar or workshop not only positions your business as an authority on your subject matter but also highlights your business as one that reaches out to the public.
Workshops can also open new revenue streams, with income generated by registration fees and ticket sales in addition to your primary business. They serve as effective marketing devices, making your business’s name known in the event field.
That’s exactly what Boston Pasta Party is doing for their upcoming Pasta Making Class — except instead of raising additional capital to fund their own business ideas, the class is raising money for the Big Sister Association of Greater Boston.
💡Pro tip: Want to create a more immersive and totally unique workshop fundraiser? Partner with other like-minded organizations or businesses in the area and combine your skillsets or services. For example, a new winery could partner with a local art studio to create a “sip and paint” fundraiser.
Ready to organize your fundraiser?
How to do fundraising for business with events (step by step)
Now that we’ve looked at some of the different types of events you can use to raise money for your business, it’s time to figure out how you’re going to set out to accomplish your fundraising goals.
What are the steps needed to make your event successful? We’ve put together some business fundraiser ideas that will help your event exceed all expectations.
Step 1. Budget for your event
One of the first things you’ll want to do is to determine a budget. Figure out what’s essential for your event and how much it will cost. You may need to rent a venue and pay for food and drink, electricity and heating, sound equipment, and more.
With a well-organized budget, you can also target and track sponsorships better. If you’re offering donated or discounted food service, for example, your food expenditures may decrease — giving you more money to spare for your fundraising money pot.
💡Pro tip: New to budgeting? Make sure you use an event budget template. With a template, you can quickly see what’s budgeted and paid for and what’s not.
It can also help you determine where you can spend more for improved quality versus where you should conserve funds and find better savings. This can affect the type of food that’s served, the size and location of your venue, and the level of marketing and promotion you can afford.
Step 2. Choose a suitable date and time
When fundraising for business with an event, you’ve got to make sure you schedule it for a date and time that’ll maximize your foot traffic. Be sure to consider whether another event is occurring on the same day. You might prefer to avoid conflicts with a local football game, a cultural festival, or a major holiday.
Also, give some thought to the time of day you schedule your event.
For example, scheduling concerts on a Friday or a Saturday night would make sense because more people can stay up late for the big show. Meanwhile, a morning timeslot might be more appropriate if you want to score a big turnout at a charity fun run.
💡Pro tip: Not sure what date or time is best for organizing your event? Ask your guests! Set up a survey and then email it to previous customers. This gives your potential event attendees the opportunity to tell you what day and time they’re most likely to attend an event that’s fundraising for your business.
Step 3. Work out your audience
The audience for your fundraiser may not match the demographic of your more typical customers, clients, or investors. You’ll want to consider who the audience for your event is and how best to ensure they know about your event.
Fundraisers often attract people who may be looking for a business to support. Fundraising for business nonprofits, meanwhile, might draw people who prefer to contribute to businesses and causes that align with their values.
Weigh the type of event you’re organizing with its goals, and then strategize on how to reach them when you begin your marketing campaign.
💡Pro tip: Start your market research by looking at the fundraisers your competitors are holding. You could also join community spaces on social media platforms like Facebook to get a feel for gaps in the market or chat directly with potential customers.
Step 4. Create an event plan
Like a business plan, an event plan is essential to the smooth operation of your business fundraiser.
Make sure everything starts at the appointed time to reassure potential donors and funders that your business is well-run and organized.
Once you’ve set a start time for your event, you’ll need to allow time for parking and entry, so be sure to include that in your planning. Set times for any speakers, auctions, or awards, and then share the schedule with registered guests by email.
💡Pro tip: Never created an event plan when fundraising for a business? Try using a free event plan template. A template is a great way to streamline your planning because it breaks down your event planning into steps. With these helpful prompts, you won’t miss a beat!
Step 5. Decide how you’ll market your event
Proper marketing is essential to get the word out about your event. That means it’s important to factor marketing into your budget so you can be sure advertising and promotional materials are available. But that doesn’t mean you necessarily need to spend a lot of money.
For example, Eventbrite’s wide range of event marketing tools shares your event’s key details across a range of social media, offers automated marketing, and provides other features that help limit your spending when fundraising for business.
Eventbrite also empowers you with advanced features like A/B testing and AI-powered content to help you generate powerful marketing posts. You can then test them with different audiences to decide which content is more likely to generate ticket sales.
💡Pro tip: Although digital event marketing is a great way to reach huge volumes of people, don’t forget about analog marketing materials. You should also place flyers, banners, or other promotional materials in partner storefronts, community centers, or other well-trafficked areas. Just remember: Effective marketing ensures your fundraiser attracts those most likely to respond to your business.
Business fundraising 101: 3 considerations for planning events
OK: So, we’ve covered fun event ideas and some pro tips when fundraising for business. But that’s only part of the puzzle. To make sure your business fundraiser really pops, we want you to think hard about these three critical factors:
1. How could an event raise money for your business?
The details of your event will depend on the business and the goals of your event. Think carefully about the event format you’d like to pursue and how that type of event is going to attract business and raise funds.
For example, a grand opening can draw attention to a new local business, get the attention of passers-by, and establish your brand name. Likewise, setting up a battle of the bands event at your music venue would give your community a taste of what your business is all about and raise cash through ticket sales.
2. What’s your fundraising goal?
Why are you hosting a fundraising event? What do you hope to accomplish? Organize your event around a central goal. A restaurant, for example, might benefit from a fundraiser to upgrade its kitchen or remodel its dining room.
Alternatively, a music venue might decide on a fundraiser to afford an extended license — a goal where even just hundreds of dollars can make a powerful impact on the business and its community.
Your objective can determine your best marketing audience and even what kind of fundraiser you plan to host. You might also decide to include a raffle, a silent auction, or other activities that can supplement your fundraising event and better meet your goals.
3. Who might be interested in sponsoring your event?
Partnering with a complementary business or organization can defray event expenses and open up new marketing and promotional opportunities, potentially allowing access to your partners’ customer base.
How do you entice companies to sponsor your event?
Remember that everyone wants to be part of a successful event. So if you’re fundraising for business by hosting a product launch, a local pizza shop might donate food, or a local liquor store might donate wine and beer if they love your product and want to be associated.
For a charity fundraiser, consider asking local businesses to donate gift cards and other items for an auction. In exchange for that donation, you can agree to display their company logo in your window or put a stack of their business cards at the cash register.
After all, companies often value an association with a charity, which creates good feelings in its customer base.
Get your business fundraising going
Everybody knows that starting a business isn’t cheap — which is one reason that a lot of business ideas don’t ultimately pan out. But don’t despair. By fundraising for business through events, you can earn extra money to keep your business going and connect with new angel investors.
The key is to understand and engage with your target market to create unique experiences that boost your brand. That’s where Eventbrite comes in.
By partnering with an all-in-one events platform like Eventbrite, you can create custom event pages, sell multiple ticket classes, take advantage of advanced marketing features, and more to raise money for your business.
