How to Raise Sponsorship Money

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Raising sponsorship money can be a difficult process.
Raising sponsorship money can be a difficult process. (Image: stack of cash image by jimcox40 from Fotolia.com)

If you don't know where to start, raising sponsorship money for an event or a sport’s team can seem daunting. There are a few ways to raise money to support your cause or help you put on your event. The easiest way is receiving donations. When asking for donations, keep in mind that a business can use their donation to you as a tax write-off, so don’t feel guilty when you ask.

Create a letter on intent to present to businesses when you ask for money. The letter of intent should explain who you are, what you are doing and why you need to be sponsored. Your letter should look and read professionally. A logo at the top of your letter will add a nice touch.

Visit local businesses and ask for donations. When visiting the businesses, bring your letter of intent and look presentable. Try wearing an item that corresponds with the reason your need the donations. For example, if you are looking to raise money for a school's band, wear a shirt with the name of the school band on it.

Visit chain stores (e.g., Target, Starbucks, etc.) and inquire about donations and sponsorships. Some of the larger companies may refer you to their corporate offices, while other chain stores' management makes those decisions.

Hold fundraisers to help with raising money. Car washes and selling edible items are great ways to raise money.

Set up a website where people can leave donations. Promote the website on social networking sties like Facebook and Twitter.

Contact your city's newspaper. Ask a reporter to write a piece about your sponsorship needs in the "Local" section of the paper.

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