This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

For These Businesses, Profit Isn't Sole Goal

CHICAGO ( MainStreet) -- At this time of year, you hear a lot about giving back. Whether you're dropping some quarters into a Salvation Army collection kettle or making a donation to Toys for Tots, the holiday season inspires us to think about the less fortunate and what we can do to help.

But some small businesses give back year-round. For them, philanthropy is at the core of their mission, not a seasonal add-on. This growing movement, known as social entrepreneurship, combines the desire to make meaningful change in the world with the drive to earn profits to fund that change.
Philanthropy is at the core of the mission for entrepreneurs such as Blake Mycoskie, founder of the shoe retailer Toms, and not just a seasonal add-on.

The shoe company Toms is perhaps the best-known example of this trend. Founder Blake Mycoskie started the company so he could fund a charitable endeavor: For every pair of shoes bought, a new pair is given to children in need around in the world. More than 600,000 pairs have been donated since Toms was founded in 2006.

Other independent businesses around the country have also made charitable giving part of their DNA, albeit on a smaller scale. Cathy Deano and Renee Maloney, New Orleans-area mothers who met when they volunteered in the same kindergarten classroom, partnered up for a for a variety of local fundraisers before deciding to start a business. They knew their art entertainment franchise, Painting with a Twist, would include an element of charitable giving.

The business's concept is a combination of art class and cocktail party: Sign up for a two-hour session, have a glass or two of wine and by the end of the class you've painted your own version of an original artwork under the direction of an experienced artist. Deano and Maloney opened their first location in 2007 and saw the idea quickly take off. "It's a fun, creative business," Deano says, something that was especially welcome in the region in the wake of Hurricane Katrina. "People would come in tired and stressed and leave feeling better."

Since they began franchising in 2009, Painting with a Twist has grown to almost 60 locations across the country. As part of the franchise agreement, franchisees agree to host one "Painting with a Purpose" event each month, with the proceeds going to a local charity. From January through October of this year, $76,000 was donated. "Some franchisees have told us that's one of the main reasons they came to us," Maloney says.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 0.00%
FB $117.43 0.00%
GOOG $692.36 0.00%
TSLA $232.32 0.00%
YHOO $36.01 0.00%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs