Funding cuts and rising prices have impacted schools right across the country. The situation will get worse as further energy price rises are on the horizon. So, to weather the storm, how can schools start generating some much-needed extra income?
According to School Cuts.Org, 4 in 5 schools in England were still in crisis in 2020 after years of Government cuts. So, it’s no surprise that schools are looking externally to generate extra cash.
Our guide help schools to start generating additional revenue. These simple tips can provide the cash injection that education providers are looking for.
Hold charity events
Aside from generating additional revenue, fundraising events are also a great way to involve and educate the community. Gaining the support of local businesses and parents is crucial to schools, especially as school changes directly affect most of their children.
Charity events don’t need to be elaborate - simple things like coffee mornings, bake sales or dunk the headteacher can all unite communities and generate additional funding. After all, almost everyone can be tempted by a delicious slice of cake!
Hire out unused spaces
Make use of the largest asset your school has: your space. Classrooms, sports halls and football pitches could be hired out when not in use. Our Lettings module allows hirers to book and pay for the spaces they need with minimal effort.
The management, monitoring and reporting of the booking process can be simplified by using our Lettings software. Over 73% of the schools surveyed are letting their facilities and this figure will only increase.
Apply for grants
Although funds are scarce, there are some available grants depending on what region the school sits within.
There are some useful sites worth checking - hwww.grantsonline.org.uk/news/schools-and-colleges
The nature of the grant can vary, and funding is sometimes available to empower specific projects or initiatives. There is some key guidance available for schools when applying for funding applications, available here. www.schoolleaders.thekeysupport.com/fundraising-applying-for-grants
Many school buildings were constructed in the late 1900’s and can be costly to run. Schools can significantly reduce costs by looking at their energy source and consumption. Solar panels generate c£5,000 for a school each year with surplus energy being sold back to the national grid.
Work with local businesses
Local businesses are always seeking opportunities to make a difference in their communities, it is good PR for them and the school benefits. Be it a pen company that can supply some old stock, to sports equipment providers - the best methodology is to perform some community outreach.
A good place to start is use your school’s website and social media platforms - let your community know you are open to partnerships. It will encourage local businesses to reach out. Better still, simply pick up the phone and ask for donations, you never know, it could bring some fantastic results!
Approaching local businesses and sector-specific organisations to sponsor events like school plays, sports days and open days can help to generate some extra income from your school. Create appealing sponsorship packages that benefit both parties and really drive home the reach and benefits it can have for them. A lot of businesses will be more than happy to contribute to their local school.
If you have space, an on-site cafe can help to provide a reliable income stream for schools generating income from pupils, staff and visitors. Do you have parents who like to congregate in the school grounds at pick-up and drop-off? Why not offer them a nice place to sit and buy a coffee? It doesn’t need to be fancy; some coffee and cake should tempt them.
If your school is in a central position or near a main road, advertisement space should be considered. Putting up billboards and banners on fences can reach a lot of people and ad space isn’t cheap! You would need to cover the print costs but by creating a competitive advertising package this can be a really effective way to generate extra income.
Work smarter not harder
Reducing staff is one of the hardest decisions a school can make, especially when all staff are already spread thin. Instead of reducing staff numbers, schools can use technology to relieve staff of the admin burden. The automation that Tucasi modules provide, reduces the time taken for everyday tasks, therefore, increasing efficiency.
These are just some ideas on how your school can make some extra income. We have seen some of our school customers generate over £60K in six months.
If you are looking for a simple way to rent out your school facilities, transportation, rooms, and sports courts have a look at our Lettings module, which has been designed to make the process as easy as possible, managing the complete lettings process for you.