Bogdan Georgescu, who owns 30% of Colliers International, Romania's largest real estate consultancy in terms of turnover, intends to develop La Zamfir chain of Romanian restaurants, which is poised to generate turnover worth 2m euros this year.
"For 2008, we plan to double our turnover to 4m euros and expect to register an increase by up to 30% in outlets already present on the market, whilst further units will be added next year," Bogdan Georgescu, who also owns 50% in the La Zamfir restaurants, told ZF.
According to the restaurants' manager, the profit margin stands at 15% because "at present, rent is very high and there are also wage costs, whilst the business takes 2-3 years to become established in shopping malls".
At present, there are 4 La Zamfir outlets: two in Bucharest, in Plaza Romania and Unirea Shopping Center, one in Cluj and one in Pitesti. The first was opened 3 years ago. "In 2008, we want to open another 2 restaurants in Bucharest, one in Cluj and one in Constanta, and reach 20 units by 2009," stated Georgescu.
Investments in a La Zamfir restaurant range between 75,000 and 100,000 euros, whilst the area of an outlet can reach 100 square metres.
For now, the company, which has around 70 employees, operates only in commercial locations, but wants to expand to street locations in the future, as the La Zamfir brand becomes better known.
Bogdan Georgescu manages La Zamfir restaurants together with a friend, whilst each partner owns a 50% share in the restaurant network. They also jointly own the Lebanese restaurant in Plaza Romania, Bucharest. "I spend very little time with the restaurants, maybe just two hours a month. I'm only in charge of strategy," explained Georgescu.
On the market of Romanian restaurants, La Zamfir competes with renowned restaurants such as Caru' cu Bere and La Mama.
La Zamfir
Is poised to generate turnover worth 2m euros this year
Turnover is set to rise to 4m euros next year, and is expected to register an increase of up to 30% as further units are added
At present, there are 4 La Zamfir outlets, two in Bucharest, in Plaza Romania and Unirea Shopping Center, one in Cluj and one in Pitesti
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