The company BANGS shoes not only look cool, but they do cool things. Sure, we all know the business model: you buy a pair, they give a pair, yada yada yada. But BANGS is different. The company was started by young entrepreneur, Hannah Davis. She is in her mid-twenties and is an adventurer like you and me. After a trip to China, she decided she wanted to create a business model that helped others start their own businesses. Thus, BANGS was born. BANGS means ‘help’ in Mandarin. The company uses 20% of their net profits to provide micro loans to entrepreneurs all over the world. They work through the non-profit Kiva to find entrepreneurs that need help. When the loan comes back to BANGS, they give it to another entrepreneur: it never comes back to them. So it's really a gift, not a loan.
What is even cooler is that 99% of the loans that are given out are repaid. This means that they are helping start successful businesses all over the world (including the US). Their business model follows the "teach a man to fish" mantra. BANGS says, “Helping someone start their business allows them to be in control of their own development.” Each month, they feature an entrepreneur that their money has helped. This week, it is a few young people from Ithaca, New York. They started a business called FarmBox, which is a small business that does research, development and marketing for a sustainable food industry.They are starting a business that is promoting the sustainability and security of the national food supply, and are dedicated to fish, vegetables, social equity and technology. They are working towards a more sustainable future for their community.
Also, the shoes are cool. They're comfortable and fashionable. They're similar to your typical Chuck Taylors, but different too. They have two lines of shoes: the Classic and the Adventure. Personally, I like the Adventure line, but the Classic are nice too. What is also cool about BANGS is that they are opting to involve college students from all over the country to be their team of marketers. They use social media to reach a broader audience of potential buyers and give discounts to the students that help them out.
Here is a video of Hannah Davis giving a TED talk last year about BANGS. Trust me, you'll like it
BANGS is a perfect model of a young person doing what they love and also benefiting others while doing it. Join the movement.
