Insights on the Greek franchise market: Interview with Dimitra Papidaki

There are over 500 companies that offer franchises in Greece

How did you get started as a franchise consultant?

Mr Panos Patronidis, the General Manager of Soeasyfranchise, started moving from generic Business Development Consultancy to Franchise Development Consultancy back in 1989, due to lack of know-how and expertise in the franchise sector. A few years later he established his own company, which has gradually evolved to “Soeasyfranchise”. For the past 24 years, our major goal has been to turn the method of franchising into major vehicle of business growth at national and international scale.

What sort of customers do you have? Who are your clients?
Our customers cover all different industry sectors:
Women’s Fashion: Pink Woman, Fullah Sugah. Mymoo, Raxevsky, Funky Budha, Forel, Rouge Paris
Women’s Accessories: Tsangarakis
Children’s Fashion: Marasil, Mandarino
Men’s Fashion: Man & Manetti
Food/Hospitality: Yoging Frozen Yogurt Bars, Mikel Coffee Company, King Dog, Plaisir, Bankie
Education: So Easy Foreign Language Centres, Winnet, Dyslexia Centres
Bicycles: Gatsoulis Bikes
Special Services: Ice Gallery (production of Ice Sculptures), Nanotek (nanotechnology car cleaning services)

What are the current trends on the franchising market in your country?
The past two years have shown impressive increase of 1) the Food & Beverage sector, 2) Fast Fashion, 3) Home Equipment.

How many companies in your country offer franchises?
Over 500 companies.

Which are the best Franchises by growth, branch and demand? What makes them different?
Start Yoging Frozen Yogurt Bars (2013 Most Promising Franchisor), Pink Woman, Max & Perry. They all share long-term vision and strategy, solid infrastructure, sound marketing strategy, strong store-merchandising, and they all invest heavily in Human Resources.

What's the average startup investment in money and time for a franchise?
On average €60-100.000 and 3-6 months of research and store set-up.

Which branches experience a lack of franchises?
The sector that has experienced the highest decline is mainly the housing and construction sector.

What is the profile of the people who choose to buy a franchise?
The profile of the average franchisee-investor is: a) unemployed due to the crisis in the European zone, and needs to enter a commercial activity that will secure for them certain occupation and monthly income, b) has approximately €50.000-€100.000 to invest, c) does not have extensive experience in business strategy/operations, d) may be dealing with another business and does not have the time or knowledge to set-up a new venture.

What should a franchisor know before coming to your country? Any specific requirements, legal restrictions, etc?
In Greece there does not exist legal framework that controls or regulates the franchise sector. As such, no particular legal or commercial restrictions are in place. For instance, in Greece it is not compulsory for a Franchisor to operate their own pilot stores.

Interviewee: Dimitra Papidaki, International Business Development Manager, Soeasyfranchise, Greece