Franchising has been growing by more than 20% annually for five years in a row, according to a survey by Franchising.bg, a consultancy.
The consultancy surveyed a total of 144 franchisers and 385 franchisees in Bulgaria between February and June 2012 to compile its third annual report on the development of franchising business, the practice of using another firm’s successful business model, in Bulgaria.
The report says that Bulgarian franchisers usually start offering franchising on average 5 years and 8 months after their founding.
48% of the Bulgarian franchisees return their investment in one year, 31% – in 2 years, and 21% – in three or more years.
“The major reasons for the fast development of franchising in Bulgaria are the established business model, the offering of a strong brand, and the development of good practices,” Franchising.bg states in its report.