Are you about writing a fundraising business plan? If YES, here is a sample SWOT analysis for a fundraising company to help you form a competitive strategy.
Fundraising Business Plan – Economic Analysis
In all industries, organizations are often seen as profit or nonprofit, which means that while one part makes all the profit, the other part is always short of cash and it is therefore necessary that those that make profit seek to act responsibly by donating to organizations that are nonprofit in nature. This is where fundraisers turn to when looking to raise money for their clients.
Due to the fact that organizations are always looking to raise more donations, it is projected by the Bureau of Labor Statistics (BLS) that the employment of fundraisers is expected to grow by 9 percent between the periods of 2014 to 2024, which is at an average faster than the average of other industries.
The economy is one of the major factors that has an impact – either positively or negatively – on a fundraising business. This is because the recession which was experienced in the united states between 2007 and 2008, saw individuals and corporations hesitant to donate or increase their donations till about 2009, thereby causing a huge blow to the industry. However, as the economy improved, so have donations.
Another factor to note when it comes to getting organizations or individuals to contribute is the fact that most want to feel a personal connection to the organization they are contributing to. Most people donating usually do so because either they or a loved one has been personally affected by the problem.
A Sample Fundraising Business Plan SWOT Analysis
As with any other business, we are driven to ensure that we attain excellence when it comes to starting and running a standard fundraising business that is profit oriented. For this purpose, we hired the services of the finest business consultant here in Fargo – North Dakota with the right experience to look through our business concept and help us determine if we are likely to thrive in this business.
In looking critically at our business concept, the business consultant was able to take stock of our strengths, weaknesses, opportunities and threats so as to determine if it was necessary for us to go into the business or not here in Fargo – North Dakota and what we were likely to face if we indeed go ahead in starting the business. Below therefore if the result of the SWOT analysis that was conducted on behalf of Zo Gill Fundraiser business;
There are several strengths that we posses as a business that ensures that we are ahead of the pack and this includes the fact that we are offering our clients – existing and potential – a wide range of services that will meet their various needs.
Another factor lies in the fact that we hired the right staff who are not only experienced enough but who also thoroughly understand the industry and our core values and are willing and committed to ensure that we attain our desired goals and objectives.
Finally, our last advantage is the fact that our Chief Executive Officer, Ms. Zoe McGill has over 15 years of experience raising funds in the profit and nonprofit sector as well as in several niches. She currently serves as a board member in several non-profit fundraising businesses as well and will ensure that we attain our desired goals and objectives as a business.
We do not have enough hands at the organization to carry out all our intended services and so even though we need additional staff, we cannot get more for now due to funding. We also have less time with which to accomplish the goals of our clients; we are however confident that we would work through our weaknesses in order to achieve our goals and that of our clients.
Various opportunities are available to us as the fact that we will build relationships and networks with donors for the future purpose of our own business. We have the opportunity to get many potential prospects – through education and communication – that are still not aware of what we do as a company.
The threats that we are likely to face at Zo Gill Fundraiser are that we are likely to face tremendous completion from other fundraising businesses such as ours. Also, the uncertain economy which places a huge pall on likely fundraising sources as individuals will be unwilling to part with large donations will affect how we run our business and the kind of clients we will attend to.
However, every businesses faces threats every now and then and we have laid down strategies to ensure that these threats have no effect on our business.