Income

Created by Josh Miskin, Modified on Wed, 20 Aug at 11:37 AM by Carlen Lelis

As Societies are self-funded, is crucial to understand what possible expenses your Society will need to complete, and therefore, understand how much money your Society needs. There are different ways to generate some income:

1. Membership fees

Membership fees are the main way in which Societies generate their income. As all students who’d like to get involved with your activities must purchase your Society’s membership, memberships create a steady flow of income and keeps members invested in the Society’s success. Some tips for you:

Make a plan of what possible expenses you need to account for (Instructor fees, memberships, refreshments, etc.)
Discounts during Freshers’ Week can help you bring in students that might be interested in your activities.
Show members how their contributions help the Society thrive and deliver the activities that you do.

2. Ticket sales at your Events

Charging an entry fee for your Events can help you pay for larger projects or compensate for resources you may have used. We can help you set up a Native page for your event where students will be able to purchase tickets.

3. Fundraising

While we immediately think of bake sales, fundraising can be so much more than just cupcakes. Think of:

Auction Night: Members donate pieces of art, clothing, etc, for others to bid on.
Challenge Events: 24-Hour gaming marathons, running challenges, etc.

4. Merchandise

While creating merchandise, might imply a large expense at first, merch will allows your members to have a keepsake from their time in your Society. Some merch ideas are:

T-shirts, hoodies, and tote bags with catchy slogans or your logo.
Stickers, mugs, or custom notebooks.
Limited-edition items for exclusive events to keep the excitement alive.

Get in touch with us if you’d like to discuss different ideas for your merch!

5. Sponsorship

Sponsorships are a great way to make your Society noticeable while generating some extra funds for fun large-scale events.

A great way to search for sponsorship is through LinkedIn, as well as getting in touch with similar Societies from other Universities.

If you have a Sponsorship in mind, please let us know and we’ll be more than happy to discuss this!