The Soul of Entrepreneurship: How Giving Back Adds Value
For franchises, philanthropy not only serves a greater good, but can also help build standing in the eye of the consumer, says Steve Greenbaum, founder and CEO of printing chain PostNet.
Painting with a Twist, for instance, has a giveback program built in at the corporate level. Titled Painting with a Purpose, the company’s 144 franchise locations, host monthly fundraising events in which all proceeds are donated to local non-profits.
Other franchises operate charitable initiatives that are subject to customization. For instance, at Jacksonville, FL-headquartered French Fry Heaven, each storefront must contribute one percent of total revenue to a charity -- in the form of time or food, explains CEO Scott Nelowet -- though it is strictly up to each franchisee how these donations are proffered.
Learn more about how these businesses balance doing good with doing business in this short video.