Clubs, Societies, and Projects may receive sponsorship from external organisations to help support their activities or events.
We recommend following the steps below:
|Identification||Identify what benefits you can offer in exchange for their sponsorship.|
|Selection||Start by looking at who has sponsored your group in the past and who sponsors similar groups. Then make a list of the most likely sponsors.|
|Proposition||Next, you need to formulate a proposal – this should include what activity you are asking for sponsorship for, what you intend to do with the sponsorship money and what benefits you are offering the sponsor in return. Please be very precise in the wording of the proposal to avoid any misunderstandings.|
|Negotiation||While you might get a straight yes or no from some of the companies you approach, others may wish to negotiate the terms. Be prepared for this and have some ideas on how you could make the proposal more attractive or if you would be prepared to accept a lower sponsorship amount.|
|Payment||Once you have reached an agreement with your sponsor, you will need to draw up a contract – get in touch with the Deputy President (Finance & Services) for assistance. Once the contract has been signed by both parties you should raise a Sales Invoice to the sponsor. Ideally, you should get a purchase order number from the sponsor to quote on the invoice to ensure quick payment. Be prepared to chase the sponsor for the money.|
Remember - you are not allowed to commit to any agreement that extends beyond the end of the current financial year (i.e. beyond 31 July.)
For more detailed guidance on sponsorships, please see the relevant Sponsorship training section.