Franchise Networks on the Rise in Greece

Franchise networks in the Greek market are experiencing rapid growth, with an upward trend evident both in the first quarter of 2024 and throughout 2023. This sustained momentum highlights the increasing popularity and success of the franchise model in the country, signaling a robust and dynamic expansion in the sector.

More specifically, there has been a 3.2% increase in franchise locations, with the total number of sales points (including corporate, franchise, shop-in-a-shop, and corner) rising to 22,689 in 2023, up from 21,983 in 2022, according to the research sample for the “Franchise Panorama 2024.”

Significant changes and diversifications are observed in the profile of prospective franchisees for 2024 compared to previous years, with a notable qualitative and quantitative increase in potential investors.

After an extended period of crises and insecurity, franchising emerges unscathed, offering stability to new franchisees, entrepreneurs, and those seeking business growth and professional recovery opportunities. Flexibility, foresight, and readiness for change will be essential factors in the evolving world of franchising.

Thus, using the franchise model as a vehicle, international brands are penetrating smaller markets throughout Greece. The primary candidates for franchise assignments are individual merchants who already operate stores and currently face difficulties accessing well-known brands. This challenge arises from the brand’s recent decision to drastically limit its network of partners through whom its products are sold.

A notable example is the initiatives of the Fourlis Group in Greece in the sports goods sector, which include entering the franchise business. This move underscores the growing appeal and strategic importance of franchising in expanding market reach and enhancing brand presence.

Source: tovima.com