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How to decide whether your start-up should be non-profit or for-profit  in 4 easy steps. An oversimplification prepared by Ben Wirz, Director Business Consulting John S. & James L. Knight Foundation Contact: wirz@knightfoundation.org
1. Do you need your business to make money for you? A. If the point of the business is to make you money... … then, the  business should be  for-profit B. If the point of the business is to give away money or services... … then, the  business should be  non-profit C. If you want a business that generates income to change the world  and  make you some money… … then,  you need to ask yourself a few more questions… (see next page)
2. Can your business be a viable for-profit business? A. NO ,   then focus on your charitable purpose and become a  non-profit . B. YES ,  then  ask yourself a few more questions (see next page)… In other words, is there a reasonable chance that the business will be able to repay all of the capital invested within 5-7 years?* NOT SURE? Focus on the revenue model: Who is your customer? How large is your target market? Can you be competitive within that market? Do you have a viable financial plan? What realistic scenario(s) would lead to capital reimbursement? *(1) 5-7 years is a general guideline, the timeline can be longer, particularly for asset intensive businesses (2) Reasonable chance of repayment does not mean risk-free, it just means that assumptions do not defy logic.
3. Where will the capital to build your business come from? For- Profit Investors Only  (angels, venture capitalists, corporations, banks, etc),  then your business should be  for profit .  Early stage for-profit investors will want equity returns which non-profits are legally incapable of providing. Philanthropic Investors Only  (foundations, philanthropists, non-profits, universities, etc.),  then your business should be  non-profit .  Philanthropic entities find it easier to fund non-profits for legal reasons, and many programs are set up to be available only to non-profit organizations. Could be either or both?  Turn the page.
4. Do you need to be in control? If you’ve made it this far, you are starting a business that is potentially both profitable and mission-driven. How do you want to run that business? Non-profit  startups are  board-controlled  transparent entities where management is replaceable, but, mission is safeguarded. If this structure appeals to you, then you have your answer. For-profit  startups are typically  management-controlled  opaque entities. Mission priority depends on commitment of management. Importantly, most start-ups become  investor-controlled  after a few rounds of funding, which can affect mission priority. If this structure appeals to you, then you have your answer. ,[object Object],[object Object],[object Object],[object Object],[object Object]
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How to decide non profit vs. for profit

  • 1. How to decide whether your start-up should be non-profit or for-profit in 4 easy steps. An oversimplification prepared by Ben Wirz, Director Business Consulting John S. & James L. Knight Foundation Contact: wirz@knightfoundation.org
  • 2. 1. Do you need your business to make money for you? A. If the point of the business is to make you money... … then, the business should be for-profit B. If the point of the business is to give away money or services... … then, the business should be non-profit C. If you want a business that generates income to change the world and make you some money… … then, you need to ask yourself a few more questions… (see next page)
  • 3. 2. Can your business be a viable for-profit business? A. NO , then focus on your charitable purpose and become a non-profit . B. YES , then ask yourself a few more questions (see next page)… In other words, is there a reasonable chance that the business will be able to repay all of the capital invested within 5-7 years?* NOT SURE? Focus on the revenue model: Who is your customer? How large is your target market? Can you be competitive within that market? Do you have a viable financial plan? What realistic scenario(s) would lead to capital reimbursement? *(1) 5-7 years is a general guideline, the timeline can be longer, particularly for asset intensive businesses (2) Reasonable chance of repayment does not mean risk-free, it just means that assumptions do not defy logic.
  • 4. 3. Where will the capital to build your business come from? For- Profit Investors Only (angels, venture capitalists, corporations, banks, etc), then your business should be for profit . Early stage for-profit investors will want equity returns which non-profits are legally incapable of providing. Philanthropic Investors Only (foundations, philanthropists, non-profits, universities, etc.), then your business should be non-profit . Philanthropic entities find it easier to fund non-profits for legal reasons, and many programs are set up to be available only to non-profit organizations. Could be either or both? Turn the page.
  • 5.
  • 6.