Today I’m going to be reviewing a social business, and today’s social business for review is ScojoVision. This will help you understand what makes good business ideas work.
Now ScojoVision actually was called the Scojo Foundation before, and it stemmed from Scojo Eyewear which is based in the USA.
Transforming a Conventional Business into a Social Business
Scojo Eyewear sells sunglasses and glasses to people in the USA. But what’s fascinating is that they transformed their conventional business into a social business in that they wanted to help people’s eyesight around the world, especially in developing countries.
So they set up the Scojo Foundation, now known as ScojoVision, and they created microenterprises, especially known as ‘microfranchises.’
ScojoVision and Microfranchising
Microfranchising is where a franchisor creates a business system – a successful one – and then helps people in developing countries use that business model for little capital and then start creating money and profit with that. So they’re using their entrepreneurial initiative but for a small amount, and with a business system that works.
Now, ScojoVision used that business system of microfranchising in South Asia, and I think now also in Latin America. With that, they helped poorer women to go out, and as franchisees they would test people in their community with their eyesight. They would give these tests, and whenever they found that people needed glasses, they’d be there ready to provide glasses. And the women themselves, would get a large percentage of that profit.
So with that great innovation of microfranchises by ScojoVision, it’s a great idea!
What do You Think About ScojoVision’s Microfranchise Model?
And I would suggest that to you: To really think about it, think about the kinds of good business ideas you can do and maybe you could share with me some ideas about microfranchises that you know.
Note: Please excuse the poor sound quality of the video. As I was living and working in Bangladesh at the time of this video, it was the rainy monsoon season. Therefore, the sounds in the background were the fierce winds and pouring rain. Thank you for your understanding.