A good rule of thumb is to have at least 3 grand prizes with a retail cost of over $300 for each prize.
The more expensive and elaborate the prize is, the more attractive it is for a person to buy lots of tickets to win it.
Here are a few ideas for grand prizes:
- Golf Package: Golf Clubs (a good brand), golf bag, golf stand, golf balls
- 40" LCD TV or bigger
- Gaming System (Nintendo Wii; PS3) with games and accessories
- BBQ with accessories
- SLR Camera and accessories
- $200 or more gift certificate for WestJet/Air Canada with travel accessories/luggage
- Front load washer and dryer
- Leather Recliner Chair
- Pool Table (you can get one at Walmart for about $250)
- Laptop - Macbooks are especially attractive
- A fireplace
- Patio furniture
- A one year gym membership
- Play structure for kids
- Drum set
- His & Her Bikes
- A Coach purse
TIP: Sometimes you have to spend a little to profit. Expect to spend about $800 - $3000 on grand prizes if you don't have anyone donating them. The return on this, depending on what the prize is, can be quite profitable. But it will also depend on how much you price the tickets. Refer to the Pricing Section on this site.
Check for sales at the end of summer or go down to the States for Black Friday. You want to get the best deal you can find. 'Clearance' will be your best friend.
TIP: If something needs assembling, do it before you display it. For example, if it's a BBQ or a patio swing set, put it together and on full display instead of keeping it in the box, it shows better. Just remember, when you go to a store, you usually gravitate towards what is displayed rather than a box.