What Is Scrip And How Can You Fundraise With It?
In general, the term “scrip” refers to “substitute money”. With the right partner, a scrip fundraiser can be a very good fundraising tool!
Scrip – What Is It?
Scrip is substitute money that is given in the form of a certificate or card that can be redeemed like cash with participating retailers and service providers. Depending on the partnering company, scrip can be purchased and used for a variety of everyday purchases from gas to electronics, home services, and groceries. For group fundraisers, groceries are often the targeted products, in part because of their wide appeal.
How A Scrip Fundraiser Works
Fundraising groups buy scrip certificates in bulk at a discounted rate either directly from the retailer or through a fundraising company (in most cases, from a fundraising company). The group buys the scrip at a set value, and then sells the scrip at an increased rate to their supporters; the sale rate may be below the average price of the redeemable product or service so that the supporter enjoys a discount, or the scrip may be sold at the same price and the benefit is fundraiser support only. Supporters who buy the scrip then use it like cash to pay for the designated purchase. Scrip can be purchased for general sales of any item at one retailer, or it can be designated only for particular products and services.
How Can I Get A Scrip Fundraiser Started?
If you have a willing local retailer, you might negotiate a scrip arrangement with them; since the details of scrip fundraisers can get complex, it is more common (and much easier) to partner with a fundraising company that offers scrip fundraisers. These companies negotiate with major manufacturers and retailers for deep discounts so that their programs are as beneficial as possible to supporters. The one thing that you will need access to is cash, because your group will have to buy the scrip before it can be resold. When you work with a fundraising company, most of the work is done for you and all you will have to do is choose your products and services, then buy and resell the scrip.
What Are The Benefits Of A Scrip Fundraiser?
Scrip fundraisers are beneficial because they are generally well-received as long as you have chosen your products wisely. Supporters welcome scrip fundraisers (particularly if they enjoy a discount on purchases) because they can both support your group’s fundraising efforts and buy products and services they need anyway, and they don’t have to spend extra money to do so. Scrip programs are potentially very profitable, too-your profits are only limited by your sales abilities.
Retailers and manufacturers benefit as well because they move their product while gaining good PR, supporting community programs, and expanding their customer base. In the end, a well-managed scrip fundraiser can be a big win all around.
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