BeztForex was founded in 2012 by Ex International Banker, Herman Bezuidenhout, following a 33-year career within the FirstRand Banking Group. He now has 40 years’ experience as an international banker within leading South African financial institutions and as an entrepreneur, encompassing marketing, sales, operations and general management, at senior management and executive levels.
Our vison is to build a long-term sustainable business and we are aspiring to be the First choice Foreign Exchange and International Banking intermediary company in South Africa.
We are very proud of the fact that we are the first Foreign Exchange and International Banking Franchise of its kind and accredited by the Franchise Association of South Africa.
BeztForex has been operating since March 2012 and is currently the largest FX intermediary company in Sasfin Bank. The success of BeztForex can be attributed to the following key elements:
• Client-centric approach – we are obsessed with client service!
• Sasfin Bank alliance
• Mercantile Bank alliance (recently)
• Unique FX trading, payment and risk management online portal
• Unique business model focussing on the acquisition on new clients
The BeztForex team has combined global trade, foreign exchange and international banking skills of more than 100 years. You will be joining a team of highly experienced international bankers.
We equip our Franchisees to be successful by providing them with a proven business system. We constantly develop our business system to ensure our growth as well as the growth of our Franchisees.
Benefits of owning a BeztForex franchise:
• Fully regulated Financial Services Business, with its focus on providing foreign exchange services to importers, exporters and investors.
• Import/export industry in South Africa accounts for more than 60% of South Africa’s GDP.
• Aligned to a recognised and respected national and international brand.
• A proven, secure, low cost and profitable business model.
• No need for staff, stock, premises or operational structures.
• The only franchise of its kind in South Africa.
• Strong and clearly differentiated product offering.
• Strong operational and training support team.
We are passionate about the training and development of people. Intense, on-the-job training will be provided in the beginning, but all franchisees will have ongoing access to our support structures. We are obsessed with getting new franchisees up and running, but due to the nature of the business, we will provide specialist support on an ongoing basis. We believe that we will only be successful if our franchisees are successful.
BeztForex is a banking franchise with its core focus on the provision of Foreign Exchange products and services to importers and exporters from all market segments. The target market includes small, medium and large clients as well as high net worth individuals.
Due to the unique business model of BeztForex where most back, middle and front office functions are outsourced to our banking partners, the main component of the franchise is the focus on new client acquisition as well as maintaining relationships with existing clients.
Naturally, foreign exchange and global trade skills and experience will be a major advantage; however, it is not essential as the Franchisor will provide intensive on-the-job training for prospective franchisees that otherwise meet the qualifying criteria to be a BeztForex franchisee.
Skills, knowledge, attributes, qualifications and characteristics required are as follows:
• Leadership and Managerial skills
• General Banking Skills (will be an advantage)
• Foreign Exchange and International Banking Skills (will be an advantage)
• Obsession with client service
• Business acumen
• Sales skills
• Entrepreneurial mindset
• Positive attitude
• Existing registration with the Financial Sector Conduct Authority as a FX representative (FSB) (will be an advantage)
• Matric and an approved FSCA qualification. (Qualifying franchisees will have 2 years to pass the FSCA regulatory exams and a further 4 years to gain an approved FSCA qualification). Many degrees, diplomas and other certificates qualify as approved qualifications. Qualifying franchisees that are not currently registered with the FSCA, will be registered under the licence and supervision of the franchisor. It follows that all franchisees must be “fit and proper” from an FSCA perspective.
The FSCA’s “Fit and proper “requirement means that franchisees must at all times comply with:
• Honesty and Integrity requirements that are applicable to all FSPs, key individuals, representatives and compliance officers
• Competency requirements that consist of experience and qualification requirements that are applicable to all FSPs, key individuals and representatives
• Operational ability requirements that are applicable to all FSPs, key individuals and representatives
• Franchisee must be solvent and maintain clean financial positions
1st Franchise Opened
No. of Outlets
Average set-up cost
Initial franchise fee
Initial Working Capital
Minimum owners contribution
Management services fee
Initial agreement term
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