This research article presents sustainable model system based framework derived from the scholarly investigation into the existent research literature on social entrepreneurship. The social entrepreneurship is emerging as a viable alternative to the traditional institutional setups for making a sustainable impact and reach towards the underserved needs of the low-income population living in the developing economies. The existing research on social entrepreneurship lacks focus on creating an integrated framework thereby posing a limitation to the entry, growth and penetration of the social entrepreneurship based market setup. The sustainable model system comprises a combination of the constraining conditions and key choices. The constraining conditions include the environmental and firm-specific constraints like need addressed, mission type and socio-economic objectives. The relative impact and significance of the key choices vary for different social enterprises depending upon the applicable constraining conditions.