BBWoof Becomes a Benefit Corporation
BBWoof Hyattsville Inc., a subsidiary of pet specialty retailer Big Bad Woof’s franchise company, became one of Maryland’s first “benefit corporations” in October.
Maryland became the first state in the nation to allow companies to incorporate as benefit corporations under a new law that went into effect Oct. 1. Benefit corporations are for-profit entities that must create a material positive impact on society and the environment and publicly report their social and environmental performance, according to the state measure establishing benefit corporations.
Pennye Jones-Napier, who founded Big Bag Woof with Julie Paez in 2005, said it’s always been part of the company’s mission to focus on the triple bottom line—people, planet and profit.
“To me it was like they finally had created a legal structure in which our mission and our business model can fit comfortably and be recognized,” she said.
Under BBWoof of Hyattsville Inc., Napier and Paez plan to open a corporately owned store in the arts district of Hyattsville, Md. The new store, which is slated to open in the spring of 2011, will serve as the prototype for the company’s franchise locations. BBWoof recently launched the franchise program and is currently vetting applicants for franchise locations in the Mid-Atlantic. <HOME>
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