Hold a raffle. Contact local businesses and request donations that you can raffle off. If possible try for a single big-ticket item -- like a car or vacation -- but several gift certificates or smaller giveaways can still be great options. Sell tickets at school and have cheerleaders sell tickets to friends and family as well. Set a date for the drawing and sell as many tickets as possible until then.
Hold a mini-camp for aspiring cheerleaders. Many schools hold a week long training camp for young, hopeful cheerleaders -- think ages eight to 12 -- during the summer. Parents are happy to pay for a summer of fun for their girls but it can also raise quite a bit of money for a squad. Be sure to include a special performance for parents at the end of the camp.
Host a car wash. This is a tried and true fundraising tradition. Be sure to have several cheerleaders waving posters at entrances to the school parking lot to attract customers. You might consider having cheerleaders ask friends and family to make pledges for each car washed. This could help cheerleaders raise even more money for their squad as they are making money twice for each car washed.
Hold a date night auction. While this is a popular trick of television cheerleading squads of all ages, a date night auction is best left to a college cheerleading squad. Have cheerleaders plan a perfect date and auction it off, with them as the date. The money raised should be split among all team members cheerleading costs. This can help alleviate hurt feelings or other issues. Advertise the auction well and utilize campus advertising to help get the word out.
Contact local businesses about fundraising opportunities. Some businesses offer discount cards for fundraising groups to sell to friends and family. Others may allow you sell actual products and receive a percentage of the sales. These types of fundraisers can be a good continuing option throughout the year while mixing in bigger fundraising events.