-The agreement signed by Sfinks with the Cairo-based company GRG is an agreement for territorial exclusivity in Egypt and Saudi Arabia. The first stage assumes the creation of several SPHINX restaurants. The launch of each of them is to be preceded by Sfinks' consent and a franchise agreement. This will also be a period of adapting the know-how and principles of operation of SPHINX restaurants to local regulations and conditions. Then, if Sfinks positively evaluates the cooperation, 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 company from Poland. 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 present.
– The master franchise agreement we have just signed creates a framework for the development of our group abroad, which we announced, among others, in the strategy for 2024-2029. The development of the SPHINX brand in the Middle East and especially in Egypt is an exciting undertaking, but also a challenge. The first stage of cooperation with our partner from Egypt has the formula of a kind of pilot, which may open a very interesting chapter in the history of our group. Almost 30 years ago, SPHINX, with its Middle Eastern cuisine little known to Poles, quickly gained popularity, although it was a very exotic idea at the time. Now we will enter with our offer the markets from which we draw our oriental flavors. We are convinced that with the know-how of Sfinks and the knowledge of local conditions by our Cairo partner, the development of the SPHINX brand in Egypt is also a project with great potential – says Sylwester Cacek, President of the Management Board of Sfinks Polska.
