How to Get a Sponsorship From Companies to Fund Your Business

Every small business needs cash on hand. But not every business owner wants to take out a loan.

There are alternative solutions to growing your business without going into debt. It’s simple. You have to learn how to get a sponsorship from companies.

Corporate sponsorship is a beneficial agreement between small businesses and corporations. Corporations invest money in small businesses for key benefits like marketing and increased sales.

How does your business become a part of this kind of relationship? Here are a few ways on how to get a sponsorship from companies to fund your business.

How to Get a Sponsorship From Companies: Put Your Sponsor First

Never go into a business relationship focused on what the other business can do for you. Put what you can do for the relationship first. That’s how you land a corporate sponsor.

Sponsors put up a lot of free money. Be upfront about what they’re getting in exchange for their investment. Put together a business plan that focuses on the benefits to the sponsor.

Communicate with the sponsor your understanding of their company’s vision and marketing goals.

Define Your Audience

Corporations like expansion. It’s how they make money–by growing their customer base.

Do your due-diligence. Take a look at the present customer base. Then research ways to expand the audience. Find out who has a need for your target sponsor’s product. Analyze the types of products and services they spend money on.

Refine your search by targeting groups through statistical data.

  • Age – What age groups spend the most on certain products and services?
  • Gender – If your sponsor markets to men, factor women into the audience
  • Income Level – How much and how frequent do they buy
  • Geographical Location – How will geotargeting benefit both brands

Establish a plan for both your and the corp to benefit from the audience. Learn more.

Create a Winning Sponsor Proposal

How you introduce your business to the sponsor plays a huge role in how you get a sponsorship from companies.

The sponsorship proposal is the business plan. It’s the document that outlines why you need this sponsor and your plans for the capital you receive. It also details the benefits of the agreement. How does the partnership add value to the sponsor’s current marketing goals?

Reach out to your intended sponsor first. Establish a rapport with someone in their marketing department. Then write up a proposal that focuses on the basics.

Keep it simple. Your proposal should include an offer letter and a document disclosing all supporting data. State the objectives, present your offer, then close by engaging the sponsor. Encourage them to reach out with questions.

Send your proposal via overnight mail (signature required) and email. Follow up within a few days to answer any and all questions.

Get a Corporate Sponsorship

How to get a sponsorship from companies depends on your ability to build relationships with corporations. Billions of dollars lay wait for small businesses to secure funding to grow their businesses.

Research available sponsors. Reach out then wow them with a proposal that will help your business get the money it needs.

Review our business finance resources for more ways to get capital for your small business.