Six strategies for nonprofits looking to generate earned revenue and scale their social impact through consulting. Article originally published in the Stanford Social Innovation Review in collaboration with Ventures. Written by Catalyst Kitchens Director Renee Martin, Jen Hughes, Director of Programs at Ventures, and Will von Geldern, Director of Advocacy and Communications at Ventures.
Social enterprises' financial structures are not very clear cut: it is important to know where the business ends and the training program begins to inform your strategy and your funders. Find the true cost of the training program to identify opportunities for fundraising and business growth.
Foodservice has razor thin margins; add a training program and those margins become even thinner. We talk about the importance of understanding true costs and allocating training expenses to accurately calculate profits.
It goes without saying that financial sustainability is critical to the success of social enterprise job training programs. Since our model is a complex hybrid between private enterprise and public nonprofit funding, it is important to know where one ends and the other begins. What steps can you take to ensure your food service business and job training program are sustainable and thriving?