Poland’s gastronomic company Sfinks Polska has signed a master franchise agreement for the development of the SPHINX restaurant chain in Egypt and Saudi Arabia. The agreement is signed for 10 years and covers two stages of cooperation. In the first phase, Sfinks’ Egyptian partner is meant to open its own restaurants under the SPHINX brand, and in the second a provision is made for granting sub-franchises to third parties.
The agreement just signed by Sfinks with the Cairo-based company GRG is an agreement for territorial exclusivity in Egypt and Saudi Arabia. In the first stage, the establisment of several SPHINX restaurants is planned. The launch of each one must be preceded by consent from Sfinks and a franchise agreement. This will also be a period of adjusting know-how and operating principles of SPHINX restaurants to local regulations and conditions. Then, if Sfinks evaluates the partnership positively, the Egyptian master franchisee will have the right to grant sub-franchises to other entities. The number of restaurants for this stage has not been determined, but each new location will also require the consent of the Polish company. The remuneration due to Sfinks under the agreement will depend on the number of foreign restaurants and their results. However, these numbers cannot be estimated at current stage.
– The master franchise agreement we just signed provides a framework for the development of our group abroad, which we announced, among others, in the strategy for 2024-2029. Expanding the SPHINX brand in the Middle East, and particularly in Egypt, is an exciting initiative, but also a challenge. The first stage of cooperation with our partner from Egypt is in a way a pilot, which may open a very interesting chapter in the history of our group. Nearly 30 years ago, with the then exotic Middle Eastern cuisine, SPHINX quickly became popular in Poland. Now, we will enter with our offer the markets from which we draw our oriental flavors. We are convinced that with Sfinks’ know-how and our Cairo partner’s understanding of local conditions, the development of the SPHINX brand in Egypt is also a project with great potential – comments Sylwester Cacek, CEO of Sfinks Polska.
Source: https://ceo.com.pl/sfinks-ma-masterfranczyzobiorce-w-egipcie-91708
