Bidvest Bank Sorbet Entrepreneurs Offer Franchise to Women

Source: Supplied. Hannah Sadiki, CEO, Bidvest Bank.

However, barriers to entry into the entrepreneurial market remain, particularly for women from traditionally disadvantaged groups, for two reasons: first, their ability to access start-up capital is often very limited; second, many lack the business and financial skills necessary to start and run a successful business.

This is where the unique Bidvest Bank Sorbet-preneur program steps in to help fill the gap.

Established in 2022, Bidvest Bank Sorbet-preneur is an empowerment programme that provides Sorbet ‘citizens’ (all Sorbet employees) who have worked in a store for at least two years the opportunity to set up their own franchise: Sorbet Salon, Nail Salon, Hair Salon, Sorbet Man and Candi & Co.

Linda Sinclair, CEO of Sorbet Group, said: “The aim of the programme is to promote development by providing career and life skills opportunities and training to enable interested individuals, particularly women, to enter and thrive in the beauty and hairdressing industry.”

“We have many talented Sorbet ‘citizens’ and we are delighted to welcome even more as franchise partners at the end of this year’s selection process.”

Empowering Entrepreneurship Journey

Hannah Sadiki, CEO of Bidvest Bank, added: “We are delighted to be pioneering the Bidvest Bank Sorbet-preneur programme for the second year in a row. It provides entrepreneurs with a unique opportunity to start their own business.

“As a bank that invests in SMEs, we know that true empowerment lies not only in providing access to capital, but also in supporting entrepreneurs in their entrepreneurial journey and helping them build successful and sustainable businesses.”

Last year’s winners Sharon Dikgale (Johannesburg), Zimkita Yeki (Cape Town), Sibongile Dlamini (Durban) and Palesa Kaokou (Sun City, North West) have all gone on to own their own Sorbet salons. Since winning the award in 2023, each winner has successfully transitioned to become a franchise partner in their respective location.

Now, a new group of people are seizing the opportunity to do the same.

The call for entries attracted applications from across the Sorbet franchise network and a shortlist of 13 entrants has been announced.

Similar in concept to the reality TV show Dragons’ Den, Bidvest Bank Sorbet-preneur offers aspiring business owners the opportunity to pitch their business plan to a discerning panel of judges and the chance to be one of the few to win their own Sorbet franchise.

“Few people who begin their careers in a beauty salon imagine that they might have the opportunity to own a franchise,” Sinclair said.

“At Sorbet, our vision is not only to provide customers with the ultimate beauty and hair experience, but also to uplift individuals, families and communities. Together with our partners, we are making a real difference to those who would not otherwise have the opportunity to become a Sorbet franchisee.”

Excellent applicant quality

Sadiki said of this year’s entrants: “The quality of applicants this year far exceeded our expectations and we have decided to increase the number of finalists from 10 to 13.

“To deliver on our commitment, Bidvest Bank will assign a personal banker to each winner and connect them with a credit team to help them manage their business finances.”

The Bidvest Bank Sorbet-preneur program is a one-of-a-kind program that provides entrepreneurs who are passionate about running their own salon the opportunity to become business owners.

Solbet citizens are eligible if they are 25 years of age or older, have a high school diploma or similar, are South African citizens with a valid identity document, and reside in the country. All “citizens” who meet these requirements can apply, but black, coloured and Indian women will be given priority in line with national empowerment guidelines.

All applications for this year’s program were thoroughly reviewed following a rigorous selection process that considered each individual’s commitment, exceptional service standards and industry knowledge.

Everything is ready and the finalists are preparing to give their speeches on Thursday, July 18, 2024 and Friday, July 19, 2024. All 13 finalists will receive coaching to help them put together their speeches and be guided throughout the preparation process.

Each entrant will make a pitch to a judging panel, which will include representatives from Sorbet, Bidvest Bank, Clicks Group and independent franchise partners, who will also serve as guest judges.

Candidates are judged on their understanding of the industry and franchise process, their business and financial acumen, their leadership skills, their ability to confidently interact with others, and their understanding of marketing needs to drive growth and sustainability for Sorbet franchises.

The winner will ultimately embody Sorbet’s values ​​of integrity, exceptional service, and empowerment as they embark on a new chapter in their lives, taking responsibility for making a positive impact in their communities.

Each winner will receive 50% of the capital investment required to open their own store in the form of a grant from Bidvest Bank. This will enable them to enter into a franchise agreement with Sorbet, as Sorbet waives the winner’s initial franchise fee.

The remaining 50% will be a business loan, repayable over five years under the franchise agreement. This money can be used to set up and equip individual stores.

In addition, the winner will benefit from a rigorous 12-month mentoring program supported by all sponsors and provided by African Pursuit.

Commenting on this powerful partnership, both Sinclair and Sadiki said: “We are extremely proud to be able to provide this unique empowerment opportunity to such a deserving group of individuals.”

The winners will be announced in August.