Open a Franchise Business in Bulgaria
Open a Franchise Business in BulgariaUpdated on Sunday 17th December 2017
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Investors who want to enter the market can open a franchise business in Bulgaria and benefit from acquiring an already existing business model while running the business themselves. This manner of doing business is beneficial both for the party who acquires the licenses to use the brand name and for the company who sells as it is an opportunity for expansion.
Our team of lawyers in Bulgaria can provide you with all the needed assistance if you decide to buy a franchise in Bulgaria or expand your Bulgarian business by franchising.
The concept of franchising
Franchising is the business practice in which a franchisee (buyer) acquires the right to use a company name, brand and business model for a pre-determined period of time. The buyer may then, as per the franchise agreement, open one or more businesses in a country.
The franchisee pays the franchisor in order to be able to use the trademark and business model and he will also have to pay a percentage of the Bulgarian franchise’s business sales. In turn, the franchisor provides the needed business model, usage rights for the trademark and branch and, if needed, specific business assistance like training.
Our lawyers in Bulgaria can give you additional information on the liabilities of the parties and the type of agreement they enter into.
Buying a franchise in Bulgaria
Opening a franchise in Bulgaria can be a very advantageous option for many entrepreneurs, mainly because of the well-known and already established brand name. Common examples, and the ones that are popular on the Bulgaria market, include fast-food chains, clothes, sports or furniture stores and others.
Although there is no specific franchising law in Bulgaria, the Contract Law will govern the franchising agreement, the duties and responsibilities of the parties.
Franchising can be a very efficient manner of expanding a business. If you would like to know more about the relationship between the business owner and the local Bulgarian operator you can contact our law firm in Bulgaria.