Budgeting for your Family Reunion
In order to have a successful reunion you need to create a budget, collect money early, and use funds efficiently.
In the early stages of planning, before making any final decisions, you need to come up with a preliminary budget
that will be adjusted as time goes on and decisions are made. Your budget will vary depending on the type,
location, food, decorations, accommodations and activities for your family reunion.
Before reserving locations and booking entertainment it is essential to estimate costs and revenues. You will need
to:
- Estimate your turnout
- Experiment with different ticket prices
- Estimate expenses (rentals, decor, awards, food, entertainment)
Your budget should be finalized 6-9 months prior to your reunion.
Once you have an idea of how much your reunion is going to cost, you then need to ask yourself how will you obtain
the money to pay for it. This can be done by selling tickets to your reunion. To make sure you do not get into
trouble, you need to secure funds in advance. You want to encourage your relatives to RSVP and pay early so you
have an idea of how much money you will have to spend. You want to make sure that all of your family can afford
to attend and participate in the various activities of the reunion. Making everyone aware of the details in
advance will allow them to save up and search for the cheapest travel and accommodation fares.
Establishing Ticket Price
Selling tickets is a way to fund your reunion. When you set the ticket price, you need to consider the type of reunion you are having and the number of family members that will be attending. The ticket price for a picnic will be significant less than if you are having a party where you need to hire a caterer, DJ, photographer, etc. Your ticket price should be established based on your expenses and how many tickets you expect to sell. You can mention that they will receive 100% refund if they cannot attend, therefore there is no reason not to purchase their tickets right away.
Selling tickets can be made so easy using MyEvent.com as it allows for:
- Easier money collection
Being able to purchase reunion tickets online with a credit card, directly from your reunion website, is much more convenient for your relatives and a lot less work for you. This reduces the stress of collecting and chasing relatives for payment. - Easy ticket set up
All you need to do is enter a title, description and price for your tickets. - Increase reunion attendance
By making the purchasing process simple and easy for your relatives, more of them will be willing to buy and attend. - Refund policy
As long as funds are still in the account, full refunds can be issued. - Toll Free Help
MyEvent.com has toll free customer support and online chat, 5 Days a Week.
- Safe and secure transactions
MyEvent.com follows strictest industry standards to ensure safety and security for all clients including certifications from PCI, TrustE, and the Better Business Bureau. - Track transactions and payments in real-time
Monitor all ticket sales as soon as they come in. - Best Rates
Offers very affordable transaction and processing fees. - Choose how you want to get paid
You choose frequency and desired method of payment (direct deposit, check or wire transfer)
You need to establish strict deadlines when your family members needs to register and purchase their tickets by to assure that you have the money you need to cover your initial expenses. You want to encourage people to make payments quickly and you should therefore offer them incentives to do so. You can offer early bird specials and quantity discounts.
TIP: Have an early bird special for those that register and pay early.
On your website, invitations, and reminders, you should reiterate the fact that not only will early payments be helpful and appreciated, but also how simple and convenient it is to purchase online using your credit card from the website. Make sure to keep track of all the money that has been collected and from whom. This is easy because of the reports available to you in your dashboard.
Fundraising
Your family should be there to help and support you in good times and bad whether it be to send a niece or nephew to college, help a sick family member with their bills, or if there is a family who cannot afford to attend your reunion. MyEvent.com allows you to easily collect donations online directly from your family reunion website. Your family reunion website can include a donations page with persuasive messages in order to gain support and contributions from relatives. A graphic thermometer can be integrated onto your donation page to demonstrate how close you are to achieving your specific goal. Donors names, contributions, and words of encouragement can appear on the family reunion website for everyone to see.
Raising Additional Funds
You may sometimes underestimate your expenses or the number of relatives that will be attending. If you do not want to increase the registration fee or tickets prices, then there are some other ways to raise funds for your reunion. Certain relatives who are well off may be willing to make donations to help others in need. Your family members can also raise money by holding smaller fundraisers like bake sales or car washes with details announced on the website.
Raffles & Draws
Raffles are a simple and easy way to raise more money seeing as costs are minimal, and the revenue reflects the number of tickets sold. Raffles are great for any type of reunion and any number of guests. Raffle tickets can be purchased at your reunion, online through your website, or you can include the option of purchasing raffle tickets with your reunion tickets. Raffle prizes can be featured on the website which will notify your relatives about the raffle and what they can possibly win. The best way to get great prizes without spending a lot of money is to ask your relatives if they have something of value to contribute. For example, if you have a dentist in the family you can have a free teeth whitening kit as a prize. You want to make sure that the prizes will be enjoyed by all family members. The prizes can also reflect the type of reunion you are having. For example, if you are going on a camping weekend, you can raffle off sleeping bags or other camping essentials. The goal is to make a profit, therefore you need to sell or charge enough to cover the costs of raffled goods. Holding a draw, for example a 50/50 draw, requires no effort and no planning. All you need is a roll of tickets. The winner receives half the proceeds and the reunion takes the other half. It is a fun and popular way to obtain additional funds.
Family Mementos
Your family reunion will be an event that you will always remember and is the perfect time to explore and share your family’s history. The best way to capture and cherish the memories is by having keepsakes from your reunion. You can raise money by selling souvenirs related to your reunion and your family’s traditions. They will serve as a reminder about your heritage and the good times that were shared with your relatives. Some examples of family mementos that can be featured and purchased online directly from your reunion website include:
- Group Photo
A reunion will be the only time where many generations will be all together, therefore it is the perfect place to take a group shot. Be sure to include names, date, location and activities on the photo. - A Family Recipe Book
You can have each family submit their favorite recipes, include family delicacies such as grandma’s famous apple pie, and have a “how to make” sections of the best recipes for culture specific meals. You can also have awards in your book, such as best/ worst cook, or best family desert. The price charged for the book should cover the printing costs. (You can also include a recipe page on your reunion website to share with your other family members.) - Family History Book
You can use a genealogy software program to create a family tree and you can have each family scan and submit photos of their grandparents, parents, spouses, children, grandchildren, etc. - Family Reunion Items and Apparel
You can have an artistic family member create a design for reunion apparel (t-shirt, hat, and/or sweatshirt,) pens, coffee mugs or picture frames. It should include the date and location of the reunion. Using a MyEvent.com website allows you to customize your RSVP form to include questions such as do you want to purchase apparel, how many and what size. The price should cover any printing costs.
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