American companies are interested to invest in franchise businesses in Armenia and are ready to introduce interesting and beneficial projects to the Armenian businessmen, U.S. Charge d'Affaires Clark Price said during a forum dedicated to the growing of Armenian-US commercial ties.
"I know there are many successes waiting to be born today," U.S. Charge d'Affaires Clark Price said during the event's opening. "It is my hope that we, at the U.S. Embassy, can set the stage for success by connecting Armenian businessmen and women to American corporations. Then we can step back and let you do what you know best, build your businesses." Clark Price also informed that two U.S. corporations, Papa John's Pizza and Tutti-Frutti Frozen Yogurts, sent representatives to Yerevan to speak to conference participants about the possibility of investing in franchises in Armenia.
Director of Ameria Management Advisory Services Tigran Jrbashyan in his turn noted that the business climate in Armenia is favorable for development of franchising in all directions, including implementation of technologies, business-models, brands, services etc.
"I believe that franchise is the least risky format of business for foreign companies to enter the Armenian market and understand its peculiarities, and for local investors - to employ fully-fledged and successful business technologies," said Director of Ameria Management Advisory Services Tigran Jrbashyan. He also noted that franchisers prefer markets in which intellectual property is highly protected.
According to Jrbashyan, there are a lot of franchise companies in Armenia mainly in the fields of service, trade, hotel and restaurant businesses, partly in manufacturing industry and pharmacy. Besides, a lot of representatives of foreign companies are potential future franchisees. Jrbashyan emphasized that franchise deals are increasing worldwide due to the current economic situation and Armenia is not exclusion.
Inessa Amirbekyan, head of international relations and trade finance division, noted that there are no projects in Armenian banking system related to franchising yet, but the bank represented by her, is ready to offer certain mechanisms more profitable for a business of such model, than traditional crediting. Among such mechanisms she mentioned trade finance.
Forum is organized by the US Embassy to Armenia, the U.S. Commercial Service in Moscow and Ameria Management Advisory Services. Approximately 50 business representatives and entrepreneurs attended the conference