A large Housing Association (and registered charity) in Edinburgh has a CIC subsidiary to act as a placemaking vehicle for their local community. Having almost had to close due to lack of income, they wanted to establish a new commercial venture to generate sustainable profits that could be reinvested into the community.
Appointed as their strategic advisors, we generated over 100 different headline ideas, by looking at what other similar organisations do across the UK, what commercial ventures are successful in the US (which haven’t yet entered the UK market), considering the needs of the local market, and looking at the strengths of the organisation and opportunities this presented. We then undertook a series of narrowing exercises with them until the final stage, at which a full business case was developed for the top two ideas. A clear winning proposition emerged.
The Trustees were delighted and approved our recommendation – Edinburgh’s first imaginative play centre for children. The whole board and executive team are very excited about this opportunity, which provides proven sustainable income, and is an excellent match with the Association’s company values and community purpose.