Can a business do well and do good at the same time? That's the challenge for Starbucks as the world's largest coffeehouse company tries to do just that at one of its stores in Seattle.
On Friday at the Starbucks at the corner of 23rd and Jackson, Starbucks and YWCA officials unveiled a plaque that reads, Welcome to your Starbucks.
The your refers to the fact that this particular store has now been designated a community store by Starbucks. That means 15 cents from each transaction Is invested back into the community.
It's the only Starbucks store of its kind in Seattle and one of only five of the almost 21,000 Starbucks worldwide.
At the end of the day, in order for Starbucks to support organizations, we have to be in business, said Blair Taylor.
And it is a successful business. Its net profit last year was more than a billion dollars.
The local YWCA will benefit from Starbucks' generosity. It hopes to get roughly $100,000 a year for a girls leadership program and for a program helping young parents.
Patricia Hayden of the YWCA says it's all about the local community.
The fact that they can point to their own community store and feel that they are a part of that and if they can contribute to the wellness and success of that store is priceless, she said.
Part of the rebranding of the store includes renovations which should be done by late September.