A social enterprise is an organization whose business model includes making a social impact alongside profits. While less profitable than keeping all the profits for yourself, these types of businesses can be easier to get off the ground due to the goodwill that is associated with it. However it is imperative that you stick to the promises you made when you started out your business – or at least be sure that you are able to afford the percentage of profits or type of donation that you pledge to make.
Here is an example
Lets say you decide that you want to start your own business but you are also passionate about the cause of the rhino. So you decide to donate 10% of profits to the “Save the Rhino Foundation”. So in your marketing materials you can say that some of the profits will go to rhino conservation. So other people that also care about the plight of the rhino are likely to buy from you as they will be getting a product and supporting a cause they believe in. Preciousy.com is a website doing this with some of the profits going to elephant causes.
Preciousy.com
Preciousy.com
What to sell?
It is advised to really sell something that ties in with your cause like t-shirts with photos of rhinos, or rhino plush toys, pendants, place mats, duvet covers etc. all incorporating a rhino in some way.
Keep your promises
If you say you are going to donate 10% of profits then donate 10% of profits because if you are found to be lying that will likely be the end of your business.
