DCM Joseph Pennington and Commercial Counselor Stuart Schaag participates in FrAMchise Day 2012.
For the fourth time, Franchise Days Prague 2012 / FrAMchise Day 2012 took place in Prague between November 9 and 10. The two-day conference and trade show of franchise opportunities, subtitled “Franchising in Details and Connections”, was organized by the Czech Franchise Institute (CIFRA) with the Commercial Service of the U.S. Embassy in Prague.
Deputy Chief of Mission Joseph Pennington of the U.S. Embassy said that supporting similar events is a big part of what the embassy does: “We think that our companies have a great business model in franchising, which is a growing part of the economy here in the Czech Republic.” (for more see video with DCM Pennington).
The event aimed at quality, advanced and successful franchise concepts, mostly from the U.S., where low-risk “turnkey” entrepreneurship is the longest-lasting, largest and most developed. Half of the thirty licenses presented this year originated in the U.S. Czech franchise projects were presented as well, as they seek to reach standards similar to the U.S. The franchise market is developing mainly in three fields: sale of food with added value; health and beauty care; and a new development – procurement.
Commercial Counselor Stuart Schaag added that franchising was facing some new trends: “...to bring a new concept trying to target those different types of demographic changes. One of them we call the ‘millennials‘, which is a group of young people who have never lived without having internet or a cell phone. This is a group that has to be marketed in a very specific way.” (For more see video with Counselor Schaag)
Four new American franchise master-licenses for the Czech Republic, Slovakia, and other countries were introduced this year; they include: BrightStar® Care – care for seniors, kids and disabled; the Vitamin Shoppe – discount retail chain of food supplements and vitamins; Denny’s – restaurant; and Rita’s Italian Ice – low-fat ice cream.
In addition to presentations, the professional community discussed at FrAMchise Day the Czech legislation that does not recognize the term “franchising” and how the Czech lawmakers are trying to close this gap. Representatives of the strong national and international franchise brands from the Czech Republic, Slovakia, and the U.S. discussed the issue.
Framchise Day 2012 introduced four U.S. brands that are interested in entering the Czech market through a master license:
Are you interested in obtaining a master license for one of these brands or just getting more information? Contact Jana Ruckerova of the U.S. Commercial Service, U.S. Embassy in Prague, at: Jana.Ruckerova@trade.gov
For more information go to www.franchiseday.cz