Clearwater's payroll officer and one of the organisers of the event, Danielle Fenn said the event will be held at the Colac Gun Club from midday - 4pm.
"Mum initially had the idea for the raffle itself, so we kind of took that and ran with it. We approached a lot of the people we work with and the businesses around town and we've received a lot of donations so far.
"We're holding the raffle with 6 major prizes and approximately 25 other prizes. We'll be doing a barbeque and we've got a bar there as well. The raffle's at 3pm, all the proceeds will go to the McGrath Foundation.
"We went to the Pink Up Colac launch on the Saturday the 5th and we sold 300 tickets sold on that day alone. We've got tins being sold around various businesses in Colac, so I'm estimating we will have sold around 1,000 tickets by Saturday.
"We've never really done anything like this before. We've been established here in Colac for nearly 35 years and I think it was just time that we were able to give back to the community and what better way then to support Pink Up Colac and the McGrath Foundation. It'll be something now that we hope to do every year, we've really enjoyed the process and working with everyone."