Pegas (Romania) Launches Franchise System to Expand in Country and Abroad
20 Jul 2018 - Atelierele Pegas, a local company that has managed to revive a popular Romanian bicycle brand – Pegas, has launched a franchise system aiming to expand its retail network.
The initial investment in a Pegas bike store will be between EUR 5,000 and EUR 25,000, depending on the store size and features, according to Atelierele Pegas founder Andrei Botescu.
The company currently has seven own stores, in Bucharest, Timisoara, Ramnicu Valcea, Suceava and Constanta, but also sells bikes through a network of 300 partner-stores. It plans to open dozens of stores in franchise this year both in the country and abroad. It will also open four own stores in Bucharest, Cluj-Napoca and Iasi.
The company relaunched the brand six years ago and has reached a production of 25,000 bikes per year. This year, the company also plans to start its investment in a local bike factory that would allow it to produce all its bikes in Romania.