So how do social businesses create double and triple bottom line profit? Cross-Compensation – One group of customers pay for the service. Profits out of this combined group are used to subsidize the service for another, underserved group. Fee for Service – Beneficiaries pay directly for the good or services provided by the public business. Employment and skills training – The core purpose is to provide living wages, skills development, and job training to the beneficiaries: the employees. Market Intermediary – The sociable enterprise acts as an intermediary, or distributor, for an extended market.
The beneficiaries will be the suppliers of the merchandise and/or service that are being distributed to a global market. Market Connector – The public enterprise facilitates trade associations between beneficiaries and new markets. Independent Support – The interpersonal enterprise delivers a product or service for an exterior market that is independent from the beneficiary and social impact generated. Funds are used to support social programs to the beneficiary. Cooperative – A for income or nonprofit business that is owned by its users who also use its services, providing any type of goods or services virtually. 22 Awesome Social Enterprise Ideas!
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1. Social Supermarket – Builds a grocery store that sells food to low-income communities at a discounted price. Discounted food is donated (or purchased very cheaply) from food suppliers and other supermarkets, who cannot sell the meals themselves for a number of reasons such as nearing expiry schedules, dented cans, and product mislabeling. 2. Used Textbooks for Social Change – Partner with pupil organizations/clubs to gather used textbooks by the end of every semester.
Students contribute their used books. Some textbooks are re-sold to students at the university/university of their collection source; a few of the textbooks are donated to students in need at underserved universities in the developing world. The profits are divided between the learning pupil groupings/clubs, program administration costs, and any remaining funds are used to support social programs in developing areas.
3. Online Socially Conscious Marketplace – Help underserved artisans sell their products to the world by building a platform that means it is easy for them. Artisans can either straight manage their online store, or the system can act simply as an inventory service that links the artisans face-to-face with purchasers. Income is established by either charging list fees to the artisan straight, via a commission rate on goods sold, or built-in as the reduced fee to the buyer.
Profit generated may be used to fund interpersonal services that directly impact the artisan communities. 4. Sustainable Water – Build small drinking water purification stations in areas in developing countries using off-the-shelf products. Initial funds to develop it will come from traditional charitable methods, or through debts/equity financing; the areas can be partial owners (or full owners, if using cooperative business model).
Ongoing costs to keep and staff-water station result from sale of purified water to its beneficiaries, but at break-even levels near, costing almost nothing for the beneficiaries. 5. Micro-Lending – Produces a platform for individuals and organizations to provide money directly to entrepreneurs who otherwise not get funding, such as those in the developing world. Charge a little fee to cover the operational costs.