Becoming an Entrepreneur
Opening a Charitable & Nonprofit Fundraising Business
Opening a charitable and nonprofit fundraising business is your ticket to owning a good, stable business but it's important to plan out the business in detail before you start. Here is a friendly, comprehensive guide that demystifies what it takes to be successful.
Thinking about opening a charitable and nonprofit fundraising business? We tell you what you need to know to get started.
Tips for Writing a Charitable & Nonprofit Fundraising Company Business Plan
Many new charitable and nonprofit fundraising business owners feel unprepared for the challenge of writing a business plan.
Fortunately, you don't have to tackle your charitable and nonprofit fundraising company's business plan by yourself. These days, there are tons of great resources and solutions available to support the business plan writing process.
For more information, take a look at our Business Plan Help section.
Don't Overlook Competitors
Well in advance of opening a charitable and nonprofit fundraising business in your area, it's a good idea to see how strong the competition is. Use the link below to get a list of local competitors near you. After clicking on the link, type in your city, state and zip code to get a list of charitable and nonprofit fundraising businesses near you.
Is the local market large enough to support another charitable and nonprofit fundraising business? If not, you had better be sure that you are doing things much better than the competition.
Talk to People Who Are Already in the Business
If you want to open a charitable and nonprofit fundraising business the next step is to learn from folks who are already in business. If you think your local competitors will give you advice, you're being overoptimistic. What's in it for them?
Thankfully, an owner of a a charitable and nonprofit fundraising business in a different city will be much more likely to talk with you, as long as they don't view you as a competitive threat. In fact, they are often very willing to share startup advice with you. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
Where would you find an owner of a charitable and nonprofit fundraising business on the other side of the country to talk to?
Simple. Let your fingers do the walking by using the link below.
Pros & Cons of Buying a Charitable & Nonprofit Fundraising Business
An acquisition can be a great way to enter charitable and nonprofit fundraising business ownership. But it's important to evaluate the benefits and drawbacks of buying a business before you decide on either an acquisition or startup approach.
BENEFITS: Acquired charitable and nonprofit fundraising businesses should be profitable right out of the gate; they should also be capable of demonstrating a loyal customer base, brand identity and operational efficiencies.
DRAWBACKS: However, purchased companies can also come with pre-existing challenges and/or liabilities. Ultimately, it may be more difficult to tailor a purchased business to your ownership style.
Don't Forget About Franchising As an Option
The probabilities on your avoiding failure in business go up significantly when you franchise rather than going it alone.
Before starting a charitable and nonprofit fundraising business, a smart move is to investigate whether franchise opportunities in your space might be the right move for you.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
Entrepreneur Interviews
These interviews should be of interest to you.
- Interview with Peas for Prosperity Founder, Christy Annis
- Interview with Desiree Vargas, Founder of GiveForward.org
- Interview with Jaclyn Foutz, Founder of Human Tribe Project
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