Enterprise Ireland is open for business with franchising companies

With 267 million euros available to help businesses expand overseas- could Enterprise Ireland hold the key to driving revenue back into the Irish economy?

The Irish Republic's government agency Enterprise Ireland has in its current strategy, Transforming Irish Industry 2008-2010, a new focus on the services sector. Enterprise Ireland was formed in 1998 and has 32 offices nationwide. As a government agency Enterprise Ireland is funded by the tax payers and its own investments, with the key aim of helping Irish businesses expand internationally driving money back into the economy.

As part of its new services strategy, Enterprise Ireland is keen to explore franchising as a means for international expansion. Des Doyle from Enterprise Ireland explains: 'Enterprise Ireland is looking for Ireland-based businesses determined to expand overseas but for whatever reason are unable to - whether that is due to financial constraints or they lack the ability to adapt their business or the product to a new market.'

With 267 million euros available to help business owners expand, Enterprise Ireland is open for business. 'The only requirements we have are that the businesses are based in Ireland, have a proven track record and are keen to replicate their success abroad,' explains Des. 'This is why we are keen to investigate businesses looking to franchise their business abroad, or existing franchise businesses looking to expand overseas. Franchising is based on the replication of a tried and tested business model, with a proven track record. So ultimately, if we invest our time and money helping the company franchise, or an existing franchise expand and locate master franchisees or franchisees abroad, we know that our investment is relatively safe. Our hope would be that the business will succeed internationally and this will in turn have value within the Irish economy.

'We offer a variety of services from financial assistance to management training, assistance with research and develop of new products or existing products for the international market to gain the edge over competitors within the market place. We have mentoring systems in place that can help with international recruitment and marketing training. We are also able to help develop the business model so that it can be adapted and replicated successfully abroad.'