Considering crowdfunding to raise money for new sports equipment? We explain how crowdfunding for sports equipment works in this guide.
Community sports club owners and volunteers often find it challenging to pay for new and safe equipment, especially for children’s sport where participation fees are much lower. Funding for community sports from Sport England is highly competitive, meaning your club may need to come up with alternative and innovative ways to raise money. You may want to consider how online crowdfunding could help your club get the new equipment it needs.
What is Crowdfunding?
Crowdfunding is when someone or some company or charity asks for money from the general public and investors, i.e., “the crowd”. For example, you may need to pay a medical bill and ask for donations from the public using crowdfunding, or you may have a great idea and need investors to put money into your startup to make your invention possible. In return, the funders may receive shares just like they would if they invested in JD Sports Fashion on FTSE 100, prototypes of designs or simply receive public acknowledgements.
You can use this activity to raise money for just about anything, and you can even use it to raise funds for sports equipment. This will be useful if you run a sports club or community centre and need money to buy new sports equipment for classes and events.
How to Crowdfund for Sports Equipment
To crowdfund for sports equipment in the past, the club or centre would simply put on a fundraising event. But the modern method of crowdfunding is completed online, using purpose-made platforms. The club will need to make a page on the platform detailing how much they need, why they need it and how it will be spent.
Note that some platforms will not release any funds to you unless you reach your funding goal; this is to prevent abusing the system to raise more than is needed. Your page will need to be convincing and truthful. You may want the help of a marketer or copywriter to improve your chances of attracting funders.
What Crowdfunding Platforms Should You Use?
There is now an online crowdfunding platform exclusively used by sports teams and clubs to raise money to make things easier. It goes by the name of Pledge Sports and is a great resource to find entities who specifically want to help fund you. If you’re an aspiring athlete, there may even be funders willing to help you get the things you need to make it big. Not only that, some of the past projects that have been successful include sporting documentaries and films.
The bigger hitter crowdfunding platforms are Kickstarter and Indiegogo. Both could reap results for sporting causes, but they are not specific to sports crowdfunding and the competition to stand out will be a lot fiercer. On the other hand, there are many more funders active on these platforms, so you shouldn’t neglect these options.