How the limo ride can increase your profits
It’s been proven that a great way to make school fundraisers more profitable is to incorporate additional incentives that motivate students to sell more items.
For example, who doesn’t enjoy riding in a limousine? Elementary school students are no exception. To be seen in a limo by their peers and community alike is exciting, let alone getting to take in the entire experience. As a result, many students will compete for this special incentive by selling more than they ordinarily would. Limo rides are a great way to add another promotional element of excitement to your sale.
However, if not done correctly, limos can end up eating into your fundraiser budget. Here are some things you need to think about if you plan to incorporate a limo fundraising incentive into your next school sale.
Limo Budget Considerations
Limo rides must make financial sense. The most important thing is being able to increase your profit by maximizing a return on your limo investment. Because limos can be costly, the last thing you want is to lose money.
Many schools that add a limo to their fundraiser usually rent it for 2 hours, and to really make it exciting, lunch is usually included as well. The cost of renting a limo can range from $60 to 100 per hour or more. Since most limos hold 8-10 people, you are looking at around $25.00 per seller on the high end. If you include lunch, you can plan on adding in an additional $2.00-$3.00, or more, per seller depending on where you take them. Make sure to do your homework and check around for the best value ahead of time. You may be able to get bulk pricing at some eating establishments.
How Students Qualify
Your goal is to increase your profit above your limo costs. To do that, you'll need to make sure your students sell enough items to qualify. Here are two ways that you can do it:
1. Top 8-10 sellers:
- The advantage is you're guaranteed to fill the limo and take full advantage of your investment. Students must compete for a seat in the limo.
- The disadvantage is you've not set a minimum number of items that must be sold to qualify. Thus, it's possible to have students who sold less earn the limo ride.
2. Everyone who sells ‘x’ items:
- The advantage is students must reach a higher sales level.
- The disadvantage is you won't know if you'll fill your limo. Or, you may have too many sellers that will require shuttling or renting additional limos.
Establishing Your Limo Fundraiser Goal
To determine what item number to use, assume that you'll make about $5.00 profit per brochure item sold. Multiply that number by your limo item goal to determine your profit per seller. Then subtract out your expenses to get your net profit. Your limo item goal should be based on a net profit you think you can live with.
Regardless of which method you choose, the goal is to maximize the net profit for your school fundraiser as much as possible. To achieve maximum results, schools must actively promote their limo fundraising incentive every day during their sale. Some groups even decide to have the limo at the kickoff to create anticipation.