Partnerships
How does it work? In basic terms, passive income is a way of having other people working for you, making money, 24 hours a day, doing things they already do, without any cost to you. Or, as I like to call it, ‘free money’! In the last issue, we looked at how
your school has a valuable database of potential clients. And many companies are keen to provide sponsorship in exchange for promotional opportunities. Well, those parents can also be
used as a workforce to make money for you! They don’t have to change their lifestyle or do anything different, other than a few extra clicks of their mouse, quoting a code over the phone or trying a new menu item.
External examples There are literally hundreds of passive income schemes you can explore, but you have to decide what is right for you.
schemes. These provide a simple initiative whereby charities, schools, sports clubs, community groups, and other good causes can raise money whenever their supporters shop online. Over 2,700 retailers are involved in the scheme, including Amazon, eBay, Thomas Cook, M&S, Aviva, Tesco and many other retailers your parents sites donate a percentage of the money spent to your cause, at no extra cost to you or your supporters. Simply register your school with
Give As You Live or Easyfundraising and promote the scheme to families and staff. Encourage your supporters to download the ‘donation reminder’ bar and you’ll never miss out on your free money again! They simply head straight to the website they want, activate the donation bar, and continue with their purchase. Once the payment is received, the retailer will give your cause a percentage. These are collated and paid to your school every quarter. Last year we raised over £600
just by parents having to make a few extra clicks! I used this basic premise to look
for other companies that either offer a similar deal or would be willing to set something up. Birmingham City Football Club
has a ticket incentive scheme that we promote to our community and, every quarter, we receive a cheque. Lavender Hall Autos, a local
garage, offer £5 off a service to give parents an incentive to go there. Parents let them know that they are from Balsall Common Primary to claim the discount, at which point the company also donates £5 to the school. A few years ago, we ran a
‘For Sale’ sign competition with John Shepherd Estate Agents. Not only did this prove popular with villagers, with eye-catching designs, but every time a vendor chose to use one of the children’s boards we received £250. We have similar passive income
schemes running with local pubs and restaurants, double glazing companies, travel agents, and
‘In total, our passive income streams generate approximately £5,000 a year. Once up and running, these take between 30 minutes and two hours a month to maintain.’
PASSIVE INCOME 40 SPRING 2017 FundEd
Think there’s no such thing as free money? Think again! Director of Funding and Publicity, Howard Rose, explains how to get the money trickling in with minimal effort
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