A business on the segment of franchise consulting and brokerage services starts from a 100,000-euro investment and generates turnovers of beyond 250,000 euros, with a 25% profit margin.
Eugen Driga, manager of Imo Franchise Consulting, started his business at 40, being a pioneer in his field. "I tackled the franchise market before a franchise market or legislation even existed in Romania. The idea came to me when I read 'Entrepreneurial Myth', a bestseller by Michael Gerber, a consultant," he says.
Initially, in 1996, IMO created the first franchise-type business of Romania, Agentia Imobiliara Perfecta, with over 120 agencies countrywide. "I launched this business as a franchiser, being a partner in the real estate firm I set up. Having an unexpected success, I started studying the global agency phenomenon, expanding my activity into consulting and brokerage services related to Romanian and international franchises," Driga recounts.
IMO lured the first customers after publishing some articles in the economic press, by participating in workshops and obviously through mass-media advertising and after the development of the Internet, this tool has been extensively used.
The firm's services have been differentiated depending on distinct types of customers, most of whom are Romanian firms wanting to franchise their business.
The major expenses of a provider of consulting and brokerage services are mainly related to salaries and/or fees paid to the firm's outside specialists. Against last year, the firm's turnover rose by 25% in the first half of 2007.
IMO Franchising Group is headquartered in Bucharest, with Driga specifying he does not plan to open other subsidiaries.
Should he start all over again, Driga says he would invest in the same business as he likes the franchise domain and the market is witnessing ongoing growth. @N
