YOUNG entrepreneur Peter Khoury wants to challenge the business world to take social investment seriously. He teamed up with business partner Phillip Youakim to open a chain of food and retail outlets that sees 40 per cent of profits go to charity, 30 per cent put into a project fund 30 per cent being declared as profit for the owner.
The first of the ventures, Fala-Fill, opened in Harris Park in March.
Mr Khoury, who also owns National Financial Advisors in North Parramatta, said he believed there was a divide in what charities needed and what charity directors were capable of providing.
"If charities had recurring revenue, they could focus more on their core activities as opposed to balancing raising funds with charitable works.
"Focusing on business allows the proprietor to do what the charities can't — take risk, retain profits for investment and distribute consistent flows of funding as opposed to one-off contributions."
Mr Youakim said their goal was not to get rich, it was to make the idea sustainable and to replicate the business model.
"We intend to inspire the world's business leaders and budding entrepreneurs that you can be a successful entrepreneur and a thoughtful philanthropist at the same time," he said.
"The outcome of this project will demonstrate that when your intention is to support the community, you give the community the opportunity to support you back, and the community will not let you down."
Mr Khoury and Mr Youakim will take a 15 per cent profit each from the charitable business.