The franchise consultancy was contacted to discuss the possibility of introducing the island’s business community to the concept of franchising, and the successful undertaking of this task has already seen several franchise companies begin trading in Malta.
The IFC has previously completed a number of complicated franchise assignments due to the nature of its business, but the Malta project required coordination on a different scale. It evolved into a national educational programme, involving working alongside Maltese government bodies, local businesses, banks, lawyers, accountants and EU representatives.
IFC senior consultant Farrah Rose commented: “It has been a massive project and with so many bodies to deal with we really had to stay focused on a meaningful outcome.
“However, I’m delighted to say we achieved it and in addition to raising the awareness and understanding of franchising throughout the Maltese business community, we have already had some practical success.
“A number of Maltese companies are now operating internationally using a franchise model and some well-known franchise brands have signed master franchise agreements to operate within Malta.
“It has been a unique experience for me and it is a great advert for franchising. Here was a country that had no franchising activity at all and within two years franchising is making a contribution to its business activities and economy.”
With Malta’s location seen as a convenient starting point for expansion into the growing north African economies, the project is expected to provide a major boost for Maltese businesses looking to reach international markets as well as for those brands aiming to provide franchise opportunities in the wider surrounding region.