UKMSA is working with Diageo and Valuing Impact to help develop a tool which Sheds can use to demonstrate their Shed’s unique Social Return on Investment.
Social Return on Investment (SRoI) is a way of measuring impact and quantifying value that takes into account the outcomes of the activity to show value in financial, social, and environmental terms.
This type of evaluation can help someone show value in monetary terms; for example, if you put £1 into something and you get £5 back in social value.
The value of Sheds
We know that Sheds add value to peoples’ lives in a number of ways. Sheds help reuse and recycle items, they provide social interactions and friendship, they work collaboratively with other members of the community to improve their environment and preserve heritage, and so much more.
Some Sheds have embarked on individual projects to demonstrate their own Social Return on Investment. Westhill Men’s Shed in Scotland did their own research and determined that for every £1 invested in their Shed, they demonstrated a value of between £6.50 and £13.70.
This information can be incredibly useful for Sheds when applying for funding, demonstrating impact, or reporting to funders, supporters or the the wider community. It can also help to show your members the exact difference they are making to people and your local community.
How to get involved
In order to develop this tool, Valuing Impact need to hear directly from Shed Leaders and Shed Members. This will help show the different ways Sheds have an impact and will take into account any personal experiences you wish to share that are related to your time at your Shed.
Shed Members are asked to complete the Your Time at Your Shed survey, where you will be asked a number of questions about your experiences attending your Shed and the impact being at your Shed has had on you.
Shed Leaders are asked to complete the Shed Leader survey, where you will be asked to share some information about your Shed.