Pepsico Foundation has partnered with Kgodiso Development Fund and theFoodBev Manufacturing SETA to develop the Pepsico Mzanzi Business Accelerator. This is a great opportunity for new entrepreneurs to enter and successfully run a successful vending machine business. This programme is targeted to youth between 18 and 35 years of age and to black women.
Objectives of the Pepsico Business Accelerator
The Pepsico Business Accelerator will select 50 entrepreneurs that will be taken through a programme that includes mentorship and training in various aspects of running a food service business, specifically the vending business. The objective of the accelerator is to improve access to finance and to accelerate growth for black entrepreneurs. The programme will include aspects such as financial management,the location strategy of vending machines, product mix and financial management.
The funding that the Pepsico Business Accelerator will provide to the 50 entrepreneurs include grant funding as wella s business loans at preferential rates. Individuals will receive more than funding from this initiative. The Pepsico Foundations aims to equip entrepreneurs with business and financial skills that will be useful to individuals in the future.
Eligibility
To be eligible, entrepreneurs must fulfil the following:
- Between the ages 18 and 35 who currenty earn at least R10,000 a month
- Based in Gauteng, Kwa-Zulu Natal and Western Cape provinces
In addition, entrepreneurs will be required to complete a form that requires:
- An upload of 6 month banking statements;
- Access to a vehicle to restock the vending machines (yes or no answer on the form);
- A minimum of R12000 in down payment towards the opportunity. This venture would be ideal to someone who is currently employed, has access to cash and would like to start a new venture;
- Motivation for running a vending machine business as well as for receiving funding (grant or debt); and
- Election on areas in which the vending machines will be put – Johannesburg, Pretoria, Cape Town or Durban.
Is vending machine viable?
A vending machine operation is a kind of business that complements an existing business or an existing income. Operating vending machines can be profitable due to the following factors:
- Low startup cost
- Low maintenance
- A wide range of items that can be dispensed, including snacks, drinks, cigarettes.
- Mobility and relative ease of relocation
Closing Date
The closing date for submission is 23 April 2024 and the application form can be found here.
Further Information
One of our objectives is to empower small businesses and startups by curating funding opportunities that we come across. Refer to this page for other opportunities.
While formal company registration is not always a prerequisite for accessing funding, it is crucial for formalised entities to maintain compliance. Lack of proper governance will completely hinder any prospects of funding. For guides and articles on governance, please refer to this section of our site.
