The SME consultancy brand will open in Bulgaria in the coming years.
Business Doctors, a U.K.-based SME consultancy franchisor with over 40 locations operating in the U.K., has announced the signing of its first Eastern European master franchisee in Bulgaria.
Bulgaria represents the 10th overseas territory for Business Doctors, and it has been sold to Veselin Genev, who has a background in agricultural machinery and imports. Genev’s plans are to sell four to five Business Doctors locations within Bulgaria over the next three years.
“Over the last 30 years, Veselin has built and grown a substantial and well respected agricultural sector business in Bulgaria. His decades of experience, impressive language skills, and truly international outlook make him a very strong partner as we take our first steps into Eastern Europe,” said Rod Davies, co-founder of Business Doctors.
“Bulgaria is uniquely placed in Europe, bordering five other countries, including Greece, Turkey and Serbia. As brand awareness grows in Bulgaria, it will become our gateway into Eastern and Southern Europe.”
Genev, who holds an MSc in international economics, launched major Bulgarian agricultural machinery importer Opticom Ltd in 1991, soon after the fall of communism.
Having grown the business into a €20m revenue company, he is now looking to take a step back from the company he founded and lead the growth of the Business Doctors brand in Bulgaria.
“When I discovered Business Doctors, I found a company with similar beliefs and sense of purpose to my own. I believe Bulgaria is an excellent market for their unique brand of small business support,” said Genev.
“Figures from 2018 show that the country has over 343,000 SMEs, making up 99.8 per cent of all companies. Whilst the current landscape is tough for small businesses, many are in a place where they are eager to embrace change along the path to growth.
“There is no one else offering structured, hands-on support to these companies and we will be in a very strong position. I am very much looking forward to launching Business Doctors’ first East European franchise and bringing affordable SME support to Bulgaria.”
As well as its U.K. presence, Business Doctors has opened locations throughout India, the Republic of Ireland, Namibia, Botswana, Dubai, Belgium, Cyprus, and Malta.