Inc.: How To Build a Business That Is a Force for Good

Millennials and Gen Z are getting louder about what they want in a business. Whether it’s where they work, a favorite shop or just an organization that’s often in the news, there has been a huge push toward meaningful business. Franchise professionals have noted an emphasis on “mission-focused” concepts among young investors, and more established brands and leaders are catching up.

Last week, the founder of Patagonia, Yvon Chouinard, transferred ownership of the company to a trust and nonprofit organization to guarantee profits are used to combat climate change and protect undeveloped land worldwide. 

“The unusual move comes at a moment of growing scrutiny for billionaires and corporations, whose rhetoric about making the world a better place is often overshadowed by their contributions to the very problems they claim to want to solve,” David Gelles wrote for The New York Times.

This move has brought up many conversations about what it means to do good and whether a company’s willingness to do good is inherently separate from or contradictory to its ability to succeed financially.

As the pool of entrepreneurs and investors interested in franchising shifts more toward millennials and Gen Z rather than older generations, this balance of business success and follow-through on good actions will become more and more important — if not critical — to franchisors’ continued growth as they work to appeal to shifting audiences.

Read the full article at inc.com.