Detroit's
The Parade Company is about more than the annual, historic Thanksgiving Day Parade down Woodward Avenue in downtown each year.
The Near East Side nonprofit has gone from handling the parade 32 years ago to an accidental spinner offer of businesses. Its budget still relies on donations and sponsorships to pay its 13-member staff, but now uses the expertise of its employees to generate more revenue.
It has sprouted a handful of organic mini businesses, such as float building and event management. The extra cash from these businesses has allowed the firm to expand its staff (it just added another person) and its budget.
"Overall, The Parade Company is a very stable organization and our finances have been stable in the last three years," says Joan LeMahieu, president of The Parade Company. "We've been doing a little better each year."
Those small steps are just how the company plans to grow. LeMahieu sees her firm's mini businesses slowly but steadily growing from referrals for the foreseeable future.
Source: Joan LeMahieu, president of The Parade Company
Writer: Jon Zemke
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