Building a strategic partnership with a for-profit can give your nonprofit better access to people, resources, and services you need. Many forward-thinking businesses are seeking long-lasting, mission-based, and socially conscious partnerships with nonprofits. If you’re looking to advance your mission without huge funding efforts, for-profit partnerships are the way to go.
This is the most basic way that for-profits can be beneficial to nonprofits. Businesses may reach out to staff members, volunteers, beneficiaries or even board members, offering their services or product to them for free, as a prize or as a premium.
The marriage of nonprofit and for-profit business creates a symbiotic relationship that will support your cause and their business at the same time. By building collective impact efforts where businesses and nonprofits effectively collaborate can unlock benefits for both parties and create lasting social impact. Connect with thought leaders in the community which can grow and develops your mission locally as well.
For-profits often have the resources available to not only benefit your overall organization but often your individual employees as well. By introducing your staff to for-profit methodology they can have enriching growth opportunities professionally. The collaboration between the teams will be invaluable.
For-profits can introduce their customers to your nonprofits. For-profits already have a loyal customer base that will be more receptive to a new nonprofit if they are partnered with a credible company. The for-profits can also donate part of their annual profits to a nonprofit or charity. Donating a portion of their profits to a charity is an amazing gesture. You can agree to mention their business in your websites and newsletters, press releases, direct mailings, and other publicity and vice versa.