Raydan Cuisines inks franchise agreement

26/08/2019 Argaam

Raydan Cuisines and Restaurants Co. has inked a five-year franchise agreement with Abdel Hafez Ahmed Co. to act as an agent for Raydan in three locations in the Southern Province, the Nomu-listed firm said in a bourse statement. 

 

The agreement will reflect positively on the company’s earnings for 2020, and will represent 4 percent of gross revenue, plus inauguration fees of SAR 112,500 ($30,000) per branch.

 

Abdel Hafez Ahmed Co. was incepted in 2000 with a multi-purpose business portfolio.  

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