Real estate company Foros said it has signed up two franchisees, in Plovdiv and in Stara Zagora. The company is also in talks to set up Foros franchises in another 25 local town, including Blagoevgrad, Silistra, Vidin, Gabrovo, Haskovo, Kavarna, Sandanski, Elena and Sliven. The first of the signed contracts are for a period of five years.

The Foros franchise project was officially announced in April this year, but has been in the works since December 2007, programme director Milena Mihailova said. The programme targets urban areas where Foros has a market presence.

Currently, Foros does business in Sofia, Varna, Rousse, Plovdiv, Veliko Turnovo, Bourgas, Dobrich, Balchik, and the resorts of Slunchev Bryag (Sunny Beach) and Bansko. If the franchise program does well, Foros intends to take it international, seizing opportunities in neighboring Macedonia, Romania and Serbia.

Foros is the fifth company with a franchise program in Bulgaria. Address is the other Bulgarian real estate company with a similar program while the others are foreign outfits - Re/Max, ERA Real Estate and Century 21.