The U.S. Embassy in Yerevan and the U.S. Commercial Service in Moscow, in partnership with Ameria Management Advisory Services, organized a one-day business conference focused on franchise business opportunities on September 22 in Yerevan.
The event helped strengthen the growing commercial ties between the United States and Armenia by introducing American franchise businesses that are new to the Armenian market and already successful elsewhere in the region. The goal was to highlight these opportunities to Armenian businessmen and women who are looking to open their own businesses.
“I know there are many successes waiting to be born today,” U.S. Chargé 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.”
“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.
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. This event provided participants with rare and valuable early access to well-known brands eager to enter the Armenian market. Approximately 50 business representatives and entrepreneurs attended the conference.
“It is my hope that many business relationships will start today, and that in time, those relationships will grow to successful, profitable partnerships,” said Mr. Price. “We are more than happy to set the stage for economic growth through events such as today’s franchise day. But we all know, the success of your efforts will be in your hands.”
Along with presentations from each of the American franchise concepts, participants had a chance to hear from well-known Armenian organizations on topics such as business, legal, and financing considerations.
The event was organized in part to strengthen and enrich the bilateral commercial relationship between Armenia and the United States by boosting commercial ties between the two. The event also focused on the importance of Intellectual Property Rights in the further development of franchise businesses in Armenia.