Do I pay more because you give to charity?
No. You sacrifice nothing. Elite has the best products in the world, the best service in the area, and the lowest prices anywhere on premium appliances, guaranteed.
Virtually all premium appliances are price-protected: There is a minimum price set by the manufacturer that no one can sell below.
Many stores list higher prices to increase profit and to allow some wiggle room for customers who will not buy unless they feel they are getting a discount. Others mark the price up only to mark it down again to create the illusion of a sale.
We skip all those games and simply sell at the lowest price allowed. You cannot find a better price anywhere.
How do you stay in business?
The minimum prices set by the manufacturers have a margin built in. This margin allows us to cover our expenses, provide our employees with living wages and great benefits, and still have some profit left over. In traditional companies, that profit would go to the owners. At Elite, that profit goes straight to local charities instead.
This business model is an experiment in charitable capitalism, largely untested. However, one company – Newman’s Own – has been doing this with food products since 1982.
How do I know this isn’t a scam?
It would be easy to claim to do good but not follow through, so we have several controls in place to prevent abuse or fraud.
Starting in 2019, our financial records will be audited by an independent third party, and our charity partners will have access to these audits to confirm that they are receiving all that they should and to verify compliance with all our stated rules.
For example: The owners cannot take any profit distributions, and their salaries are limited to a multiple of that of the lowest-paid employee. At present, the owners are the lowest-paid employees, but if this changes, it will be done so transparently and publicly.
As we learn and grow, we will fine-tune these controls to ensure this business model’s legitimacy and success.