McDonald's struggles in Greece, but will open new stores

Image Courtesy of McDonald's

Greece is one of the few countries where American global food franchise McDonald's, struggles to capture a respectable share of the market, having only 25 stores throughout the country and a few closures along the way, such as in Athens and the city of Patra to name a few.

Part of the failure of McDonald's in countries like Greece, is local competition that copied the efficiency and convenience but customised the menu to local tastes and expectations.

Despite the struggle, the franchise licensee in Greece, Premier Capital Hellas, announced the creation of 11 new stores offering 440 new job positions in the next three years, in a project budgeted at more than 21 million euros.

"Our constant investments in network and new job positions is proof of our commitment and our confidence in the potential of the Greek market," said Victor Tedesco, CEO of Premier Capital plc, Developmental Licensee of McDonald's in Greece.

According to Tedesco, Premier Capital Hellas has invested more than 19 million euros to open new restaurants, renovate existing restaurants and upgrade infrastructure and technology throughout its network since 2011 in Greece.

In Greece, the main competitor for McDonald's has been Goody's which has thrived and opened stores internationally, after replicating the McDonald's model, yet aware and accommodating to local culinary tastes and habits.

According to the company’s website, “Goody’s possesses 1st place in the branded food market in Greece, in terms of visits and consumption, and is the first most recognisable brand in the market.”

Goody’s Burger House operates in countries outside Greece, such as Australia, Albania, FYROM, and Kosovo, with 6 new stores planned for Russia, Cyprus, Armenia, Malta and Saudi Arabia.

*Image Courtesy of McDonald's