NAME OF ORGANISATION: SoFab Sports CIC
YEAR FOUNDED: 2012
ABOUT: Sofab Sports is a Community Interest Company which creates employment opportunities for young adults with physical and learning disabilities.
INVESTMENT PURPOSE: The two investments enabled Sofab Sports to increase their online stock sales, acquire inventory management software, expand their warehouse space and hire more employees.
INVESTMENT AMOUNT: £100,000, £180,000
Date of investment: October 2019 & February 2021
Source of Investment: Resonance South West SITR Fund
Impact: Work & Employment; Health, Wellbeing & Social Care
ABOUT: Sofab Sports is a Community Interest Company in the form of a warehouse and online sports shop which creates employment opportunities for young adults with physical and learning disabilities. These roles enable young adults to gain confidence, self-esteem and experience in the workplace facilitating progression into mainstream employment opportunities and acquiring vocational qualifications. Sofab Sports has also previously provided pre-employment training, with the specific aim of preparing young people for apprenticeships and other forms of employment.
As well as providing employment opportunities, Sofab Sports has launched several disability projects including a disability golf project which enabled more than 25 participants to access golf, and a deaf football project which encouraged 15 players to join in just the first week.
PURPOSE OF INVESTMENT: The first investment (£100,000) enabled Sofab Sports to increase their online stock sales facilitating the support of employee wages and warehouse space. The investment also assisted them in acquiring inventory management software in order to help with keeping track of stock.
The second investment (£180,000) enabled Sofab Sports to expand their warehouse space and hire more employees to work for the company. This meant an increase in their range of equipment and sportswear lines, serving to generate more capital, and provision of employment opportunities, serving to help more young adults with physical and mental disabilities find training and employment.
Chris Rawlins, Sofab Co-Founder and CEO: “This investment will take our already sustainable business to a new level with an increased turnover within the top 10% of social enterprises nationally. More importantly, the profit generated will create jobs for those furthest from employment and having a deep and lasting impact for generations to come.”
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
Disclaimer: This website does not contain, constitute, nor does it form part of, an offer to sell or purchase or a solicitation of an offer to sell or purchase, any securities, investments or financial instruments referred to herein or to enter into any other transaction described herein. Resonance is not providing, and will not provide, any investment advice or recommendation (personal or otherwise) to you in relation to any securities, investments or financial instruments or transactions described herein. Whilst all reasonable care has been taken to ensure the accuracy of the information contained in this website, neither Resonance nor its officers accept any liability for its contents or for any errors or omissions.