Social franchising is a buzz phrase at the moment, although it has nothing to do with social media. What is it and why might it be important for charities? Lucy Gower attended a Knowledge Peers Charity Leaders event on the issue, which was chaired by Michael Norton, Director at the Centre for Innovation in Voluntary Action. She summarises the event in tweets from participants and commentators.
In conclusion, social franchising works on the same basic business model as corporate franchising, but rather than being driven by profits, social franchising is driven by a social goal, for example providing employment for the long term unemployed or tackling climate change. However a social franchise still has to make profits to survive and grow and meet its social aims.
5,306 total views, 1 views today