Canada’a Coffee Time Enters Bulgarian Market Through Franchising

Balkans.com Business News:

Toronto-based Coffee Time a popular coffee-shop chain, has entered the Bulgarian market after signing a franchising accord with Greek-owned Welcome Holdings AD, which is based in Bulgaria and recently joined the Sofia bourse (www.bse-dofia.bg).
coffeetime

Welcome Holdings AD has begun negotiations with the Canadian firm to open the first cafe under the Coffee Time brand in the country’s second largest city of Varna on the Black Sea.

Beyond acting as the exclusive representative of Coffee Time in Bulgaria, Welcome Holding also plans to develop its own brand of coffee shops.

In order to secure funding for the projects, the firm plans to increase its share capital from 50,000 leva (25,968 euros) to 3,050,000 leva (1.58 million euros) by the end of 2009.

Leave a Comment

Your email address will not be published. Required fields are marked *