What Distinguishes a Social Entrepreneurship Business from other Retail Businesses?
Are you familiar with TOMS? In the early 2000’s when Blake, the founder, was visiting Argentina he discovered many children were not in school, simply because they did not own a pair of shoes. He decided to do something about this.
He returned to the states and started a for-profit business called TOMS. The deal was whenever someone bought a pair of shoes the business donated a pair of shoes to these children so that they could now receive an education. How cool is that?!
He took something we all do — buy shoes — and turned it into a way to support a need at the same time. This is called a Social Entrepreneur business – taking a social need and, using a for-profit business, work hard to help resolve the crisis.
The late actor Paul Newman started his business, Newman’s Own Salad Dressing to support his favourite charities. So it is neat to know that buying this food is not only great on my salad, by buying it I am helping someone else.
Mannatech: A Social Entrepreneur Company
Mannatech, almost since its beginnings, has always given back – always used its profits for others. When it was discovered that malnutrition was the number one cause of death each year for 5 million children under the age of 5 years, the Company set about and decided to resolve this crisis by using the profits from the sales of our products*. They called the project M5M™ — Mission 5 Million — looking for 5 million customers to link with 5 million children.
With the sales of our products these children will receive nutrition (PhytoBlend) which is added to their food. To date (2016 December) we are regularly reaching over 100,000 children in orphanages and feeding programs around the world.
Social Entrepreneurship combines the cash flow and technology of a for-profit company with the heart, passion, and mission of a not-for-profit entity to create sustainable approaches to the world’s biggest problems.
Proceeds from all sales go to provide nutrition for these children in orphanages and school feeding programs around the world.
*because each product has a different cost depending on the currency, each product is given a Point Volume (PV) . For every 100 PV sold a child receives nourishment added to their food. (In US dollars it is roughly 1 child per 100 US $ spent)