One of the 5 ways teams can raise funds is to request that each of the team’s participants pay for the privileged of being on the team. There are two reasons why teams should charge a participation fee. The first, is to ensure that each student understands that this an expensive activity and that everyone needs to pay their fair share. The second is to ensure that people are more likely to follow through on the commitment. Once someone pays for something, they are less inclined to stop showing up because, people don’t want to lose out on something they paid for.
To set your participation fee we recommend doing the following.
- Create a budget for the year
- Decide what percentage of the budget you want participants to be responsible for
- Determine expected team size
Since not everyone at will have the ability to pay the participation rate in full, we recommend teams create an opportunity for students to either raise the funds through another means on behalf of the team or to have a way for students to apply to have their participation fee reduced. This will ensure every student who want to participate, can.