Are you willing to write a fundraising business plan? If yes, here is a sample SWOT analysis for a fundraising company to help you form a competitive strategy.
Economic analysis of the fundraising business plan
Across all industries, organizations are often viewed as for-profit or not-for-profit, meaning that while one party makes all of the profits, the other party is always short of cash and therefore needs to be Those who profit seek to act responsibly by donating to organizations that are non-profit in nature. This is where fundraisers turn when looking to raise money for their clients.
Due to the fact that organizations are always looking to raise more donations, the Bureau of Labor Statistics (BLS) projects that employment fundraising is expected to grow by 9 percent between the periods of 2014 to 2024, which is on average faster than the average for other industries.
The economy is one of the main factors that impacts – positively or negatively – on a fundraising business. This is because the recession in the United States between 2007 and 2008 caused individuals and corporations to hesitate to donate or increase their donations until about 2009, causing a major blow to the industry. However, as the economy improved, so did the donations.
Another factor to consider when trying to get 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 who donate generally do so because they or a loved one have been personally affected by the problem.
An example of a SWOT analysis of a fundraising business plan
As with any business, we are motivated to ensure that we achieve excellence in starting and running a standard profit-driven fundraising business. For this purpose, we enlist the services of the best business consultant here in Fargo – North Dakota with the appropriate experience to analyze our business concept and help us determine whether we are likely to prosper in this business.
By critically analyzing our business concept, the business consultant was able to take stock of our strengths, weaknesses, opportunities, and threats to determine whether or not it was necessary for us to go into business here in Fargo – North Dakota and what we would likely face if we go ahead to start the business. Next, therefore, if the result of the SWOT analysis that was conducted on behalf of Zo Gill’s fundraising business;
There are several strengths that we possess as a company that claim to be at the forefront and this includes the fact that we are offering our clients, existing and potential, a wide range of services that will meet their diverse needs.
Another factor lies in the fact that we hire the right staff who not only have sufficient experience, but also have a deep understanding of the industry and our core values and are willing and committed to ensuring that we achieve our desired goals. and objectives.
Finally, our final advantage is the fact that our CEO, Ms. Zoe McGill has over 15 years of fundraising experience in the profit and non-profit sector, as well as in various niches. She currently serves as a member of the Join various non-profit companies to raise funds and will ensure that we achieve our desired goals and objectives as a company.
We do not have enough hands in the organization to carry out all of our planned services and therefore, although we need additional staff, we are unable to obtain more at this time due to funding. We also have less time to achieve our clients’ goals; However, we are confident that we would overcome our weaknesses to achieve our goals and those of our clients.
There are several opportunities available to us such 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 gain many potential prospects through education and communication who are not yet 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 a major completion from other fundraising businesses like ours. Additionally, the uncertain economy that puts a huge handicap on potential fundraising sources as people will not be willing to part ways with large donations will affect the way we run our business and the type of clients we will serve.
However, all companies face threats from time to time and we have strategies in place to ensure that these threats have no effect on our business.