Recreational sports clubs must obtain funds to support their activities. They do this in various ways, including traditional fundraising. Many sports teams form partnerships with organizations that supply money, equipment or services in return for promoting their products. This is known as sponsorship and is a great way to finance your team. Finding sponsorship is challenging and time consuming, but rewarding when you manage to land a deal.
Compile a Potential Sponsor List
Come up with a list of businesses and organizations to target for sponsorship. Think about the target audience of your team and the demographics of the potential sponsor. It's a good fit when the products and services offered by the business share the same audience as your team. Determine which companies or organizations will benefit from partnering with your team. Come up with as many potential sponsors as possible since you'll likely receive many nos before you finally close a deal.
Create Sponsorship Packages
When a business or organization sponsors your team, it expects something in return. Put together sponsorship packages that show what you're offering. Create different levels of sponsorship, like bronze, silver, gold and diamond. For example, you might price a diamond package at $10,000, which may include a large sponsor banner at your events, company logo on your team's apparel and an advertising spot on your team's club house. Find out the price ranges for sponsorship deals for similar teams so you can price your package competitively.
Write Proposal Letters
Craft proposal letters to each potential sponsor. Do your research and get background information about your potential sponsor's brand image, products, services and business objectives. Use this information to tailor your letter and explain why partnering with your team will help the sponsor meet its goals. Provide background information about your team, league event schedule and any other considerations. Address your letter to the person at the business who possesses the decision making power.
Meet and Finalize
Be ready to set up a meeting with any potential sponsors that respond to your proposal letters. You'll make a bigger impact meeting face-to-face. Be prepared to present the best reasons why the potential sponsor will benefit from partnering with your team. Have sponsorship contracts ready to close the deal. Contracts help prevent future misunderstandings, so consult a lawyer if you need to.