FRC Group is a social enterprise that works to improve the lives of people in poverty and unemployment. It comprises three integrated social businesses, throughout which training opportunities are created for the long-term unemployed and other disadvantaged groups.
Impetus support package
Investment period: November 2009 - 2010 (Phase 1* investment)
Phase 1* funding: £50,000
About FRC Group
FRC Group was set up in 1988 in Liverpool with the mission
of running businesses to both create profits and provide
opportunities to improve the lives of people in poverty and
unemployment. It comprises three integrated social businesses: FRC
- a furnishing service for social landlords and the shared living
market (care homes, hostels etc); Bulky Bob's - a collection, reuse
and recycling service for domestic bulky household waste, and
Revive - a store that sells 'pre-loved' furniture and appliances to
low income households.
Throughout the three social businesses within FRC Group, 12-month training opportunities and shorter term placements are created for the long-term unemployed and other disadvantaged groups so they can gain relevant skills, qualifications and work experience to enable them to start a new career. In addition to their social impact, Bulky Bob's and Revive generate substantial environmental benefits by reducing the amount of waste sent to landfill.
Background to the investment
The impetus for our involvement is that FRC Group is achieving
clear results in our area of focus, helping break the cycle of
poverty through improving skills and employability. It has
successfully grown sales and has started to expand its operation
from its Liverpool base. It has ambitious growth plans and
approached Impetus as an engaged funder, which can support its
scale-up plan.
FRC's model has proven results in engaging and progressing the long-term unemployed back into work. In 2008/09, 71 per cent of those who completed the 12-months training went into employment or further training. In addition, FRC Group was ranked in the top 50 in the Financial Times' Best Work Places index 2007, and was the only social enterprise listed.
Impetus is partnering with FRC Group initially for 14 months
with a view to making a longer-term investment at the end of the
planning process. The objective of the partnership is to support
the development of FRC and Bulky Bob's processes and business
models to enable them to treble the number of training
opportunities for economically disadvantaged people.
Read more about FRC Group.
* Phase 1 is an initial investment period to develop the plan
for growth. It is usually followed by further investment over a
longer period.
Impetus is the best investor of funds in the not-for-profit sector, by a mile. Of that, there is absolutely no question.
Chris Mathias
Founder of Arbor Ventures and Impetus donor