One of the more difficult aspects of organizing a successful charity golf tournament is creating a budget that allows for everything that is necessary…without taking away from profits that should go to charity. It may sound daunting, but it has been done by thousands of others and it can be done again…by you. Fortunately, we’ve thought of that and have provided you with a five simple tips that will keep your budget airtight!
Make a List
The first step is most likely the simplest: Make a list of everything you can think of that’s involved in creating a successful tournament. It’s ok, you can cheat. Pick the brains of others who may have had their own tournaments and definitely use the ideas we have in our Basic Guide to Organizing a Successful Golf Tournament on our web page. We’re glad to be of help!
There’s a lot of stuff that goes along with creating a successful event and the internet can be your best friend. If this is your first time, you may not have a clear idea of the costs involved, and spending a little time surfing the net can give you a more realistic picture of what your budget should look like. Don’t forget to include advertising costs; it costs money to make money, and this expense can actually end up raising the most money in the long run.
Once you’ve figured out about how much you want to spend, you can concentrate on ways to make money and lower your costs. Remember, your goal here is to provide aid to your favorite charity, not to just have a great time! Charge a registration fee to players, hold an auction, charge a nominal fee for food you may have received for free – there are plenty of ways to bring in money to help cover the costs. Do your research!
Instead of spending valuable resources to pay people helping out, use volunteers whenever possible. Offer free advertising in exchange for food, prizes, etc. When planning your budget, examine every potential cost and determine how you can either get it for free or even at a reduced price. Every penny counts!
Pad the Budget
Last minute surprises can be a disaster for your profits, but not if you planned ahead and added an “emergency cushion.” Caterers flake out, players back out at the last minute, auction items fall through and if you have a little extra saved away, it’s no big deal. If everything goes smoothly, that cushion can get added back into the overall profit – it’s a win-win situation.
Utilizing our tips and resources is the best way to ensure your tournament is a rousing success for years to come. We have the experience and we love to share! BestOutings.com can be your best friend and your biggest ally when it comes to creating an airtight budget – what are you waiting for? Click here for more information!