Monday's Wall Street Journal had an interesting article about charities getting into the franchise business to raise some extra money. Profits on the Side told of some pretty amazing gains and some pretty big losses.
"Social franchising" is what they call it at Harvard Business School. Interesting is what I call it.
Good nonprofits need to be run like a good business. Different rules. Different motives. But you still owe it to everyone involved to run it efficiently and effectively.
To be competitive, you often need to think out of the box. Before you do that, remember to tend to the basics. That starts with your board.
If you're serious about opening a franchise for your nonprofit, do you have someone on your board who already has franchise experience? More than just the smell of French fries on their clothes?
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