Four Tips On How To Determine The Price Of Your Raffle Tickets

Many non-profit organizations often hold raffles in order to help raise funds for their cause.  A raffle allows people the opportunity to help a worthy cause and at the same providing them with the opportunity to win a prize that may sometimes be too expensive for them to own.   The selling of as many raffle tickets as possible is vital and all money collected tends to be given 100% to the chosen charity.   This is because a lot of the prizes being offered during the raffle have been donated.

When it comes to running a raffle it requires a great deal of planning beforehand.  First, of course, you need to decide where the raffle will take place along with when.  The next thing you, of course, need to figure out is how much each of the raffle tickets will cost for people to purchase.

Through proper planning, you can set raffle ticket prices that people will feel are fair and so will help you to sell more.  In turn, this means that you will end up making more profit for your organization.

So how do you determine what price people should pay for your raffle tickets? 

When it comes to deciding the price of raffle tickets there are certain factors that need to be considered first.

1. Have To Establish A Profit Goal

This is very important in helping you to determine just how much people will pay for each of the raffle tickets you’ve had printed.   You want to work out just how much income you would like the raffle to generate for the organization that you’ve arranged it for.

2. What Kinds Of Prizes You Are Giving Away

This will depend on who locally is willing to donate prizes to your event.  Ideally, you need to have prizes for your raffle that local people would be interested in having.  Many people turn to local businesses such as butchers, bakers, florists etc. for providing suitable prizes for their raffles.

3. Work Out What Your Expenses Will Be

You will need to take into consideration how much it is going to cost for the raffle tickets to be printed.  The price of raffle ticket printing can vary quite a bit, as it is dependent on the kind of tickets you get.  You could of course just buy books of pre printed raffle tickets, but choosing to have personalised raffle tickets for your event will make it feel even more special.

Another thing to consider is how much you need to spend on advertising the event.  Luckily, if you have a Facebook page you can actually post about the upcoming event on yours.  This won’t cost you anything to do.   But if you want to reach a much wider audience, of course, advertising it in the local paper is a good idea and put flyers up around the area is essential.  You may find that you can get the raffle ticket printing services to also produce posters for you and provide you with them at a special price.

4. What Price Did You Charge Previously?

It is important that you set the right price for your raffle tickets as it could have a big impact on just how many you sell, and how much profit you make from the raffle.   Most people now tend to offer their raffle tickets at £2 each or say 5 for £8.  But this isn’t always the best option it is a good idea to spend a little time investigating what other options there are in order to help you gain more profit.

There are certain factors to consider that are going to influence how much you sell your raffle tickets for, including:

• The price you set for any previous raffles you organised
• How many tickets are being offered for sale
• The kinds of prizes on offer and their values
• The cost of getting tickets printed by good raffle ticket printers
• What connection those buying your tickets have with your organization

We hope that the information about how to price your raffle tickets for your next event proves useful.  If you would like to find out more about the kinds of raffle ticket printing services that are available then please do not hesitate to give us here at Remmer Print a call on 01642 671651.  Alternatively, you can send us an email at john@remmerprint.co.uk.