If you’re putting together a charity 5K race, you’ve probably already created a fundraising plan. Fundraising is one of the most important aspects of race organization. It gives you a chance to raise awareness and gather the support of your community. So before you finish planning your fundraising event, take a look at our four “must-haves” for your 5K fundraiser budget.
5 Things to Include in Your 5K Fundraiser Budget
Make sure you’re covered—get insurance. Liability insurance is something that almost all newbies forget, but it’s one of the most important items to check off before race day. There are a whole host of reasons you might need 5K event insurance, and in most cases, your sponsor’s insurance won’t cover you. For larger races (and through our online registration), we can also refer race directors to race cancellation insurance and offer an option for participation insurance that reimburses entrants if they can’t participate for qualified reasons.
The most important souvenir: the race shirt. The “free” race shirts are frequently the race organizer’s single largest expense—very often even more than chip timing. For small charity races especially, the set-up fees and minimum orders of typical screen printing can be huge financial stress and is a leading reason why the price of 5K’s has doubled since the start of the 21st century.
That’s why SpectaSport recommends a supplier that uses a different process (“direct printing”) for shirts. Because this process doesn’t require a minimum order nor set-up fee, it opens the door for even the smallest race to offer a lower “no shirt” price to attract experienced runners that already have a thousand race t-shirts in their closet and really don’t want another one. The best part? If set up with SpectaSport’s guidance, a race can make slightly more profit on the discount entry with no shirt than on the full-price entry!
Don’t forget about location fees and security staff. Location fees are likely on your radar as your big expense. Security staff fees, however, are sometimes overlooked. In this day and age, you can never be too careful. You want to invest in the safety of your participants and the crowds who cheer them on.
Think about the amenities your location doesn’t cover. This all depends on where your race is located and the turn out you’re expecting. If your race is in town, you may not have to worry about things like porta-potties and easy access to food and water. If it’s further out, it may be a good idea to coordinate food trucks for the bystanders. Always budget water and snacks for your runners though, they’re working hard and they’ll need it!
Professional timing for a wonderful experience. Working with a professional timing company allows you to breathe easy when it comes to race day logistics. SpectaSport makes it our business to bring race organizers accurate and affordable race timing services. With our help, the big day can go off without a hitch!
Learn more about Race Timing Services at SpectaSport
SpectaSport has been timing races in the tri-state area for over a decade. Our vast experience makes us a valuable asset to your team, whether you’re planning a new or established event. The best way to contact us is through our online form or by calling (610) 306-0574. Secure your 5K race with SpectaSport today!