Are you going to write a fundraising business plan? here is a sample SWOT analysis for a fundraising company to help you shape a competitive strategy.
Economic analysis of the fundraising business plan
Across industries, organizations are often seen as either for-profit or non-profit, which means that while one party is making all the profits, the other party is always running out of money, and therefore it is necessary that those who make a profit commit to acting responsibly by donating to the organization. which are non-profit in nature. This is where fundraisers turn to when they want to raise money for their clients.
With organizations still looking to raise more donations, the Bureau of Labor Statistics (BLS) predicts that employment is expected to grow 9% from 2014 to 2024, faster than the average for others. Industries.
The economy is one of the main factors influencing – positively or negatively – fundraising. Indeed, the recession that occurred in the United States between 2007 and 2008 left individuals and businesses hesitant to give or increase their donations until around 2009, which dealt a heavy blow to the industry. . However, as the economy improves, donations also increase.
Another factor to consider when it comes to attracting organizations or individuals is the fact that most of them want to feel a personal connection with the organization they are contributing to. Most donors usually donate because the issue is either with them or with a loved one.
Example of a SWOT analysis of a fundraising business plan
As with any business, we are guided to achieve excellence when it comes to starting and running a standard profit driven fundraising business. To this end, we have hired the best business consultants here in Fargo, North Dakota with the knowledge and experience to review our business concept and help us determine if we can be successful in this business.
By critically evaluating our business concept, the business consultant was able to assess our strengths, weaknesses, opportunities and threats to determine whether or not we should go into business here in Fargo North Dakota and what we could be. faced. if we really start our own business. Therefore, below, if the result of the SWOT analysis carried out on behalf of the company Zo Gill Fundraiser,
- Strengths
As a company, we have several strengths to ensure we are ahead of the pack, and that includes the fact that we offer our clients – a wide range of existing and potential services that will meet their different needs.
Another factor is that we have hired the right people who are not only experienced enough but also have a good understanding of the industry and our core values and who are ready and committed to ensuring that the desired goals are achieved. . and objectives.
Finally, our final asset is the fact that our CEO, Ms. Zoe McGill, has over 15 years of fundraising experience in the profitable and not-for-profit sector, as well as in multiple niches. She is currently also a member of the board of directors of several non-profit fundraising organizations and will ensure that we achieve our desired goals and objectives as a business.
- Weak sides
We do not have enough hands in the organization to provide all the services that we have planned, and therefore, although we need additional staff, we cannot yet get more because of the funding. We also have less time to achieve our clients’ goals; However, we are confident that we will overcome our weaknesses in order to achieve our goals and those of our clients.
There are various opportunities available to us as we build relationships and networks with donors for the future needs of our business. We have the opportunity to acquire many potential prospects through education and communication who are not yet aware of what we are doing as a business.
The threats we are likely to face at Zo Gill Fundraiser are that we are likely to face huge success from other fundraising companies like ours. In addition, the uncertain economy, which places enormous constraints on likely sources of fundraising as individuals are reluctant to part with large donations, will affect the way we do business and the customers we serve.
However, every business faces threats from time to time, and we have developed strategies to ensure that these threats do not affect our business.
