Lisbon, Aug. 8, 2024 (Lusa) - Credit intermediary MaxFinance plans to increase its network of physical shops in Portugal from the current 150 to 200 by March 2025 and to increase its number of franchisees to 420 by the end of the first half of that year.
In comments to Lusa, MaxFinance Portugal co-founder Beatriz Rubio emphasised that "this growth represents an increase of fifty physical shops and a significant increase in the number of franchisees, thus consolidating the company's presence in the market," while emphasising that "this expansion plan is adjustable and may vary depending on the dynamics of the market and the opportunities that arise."
Since the beginning of this year, MaxFinance has seen 15.4% growth in its network of shops specialising in credit intermediation and has strengthened the capillarity of its network, which operates under a franchising model, with the opening of 20 new shops, spread across the municipalities of Lisbon (eight), Braga (four), Porto (two), Leiria (two), Aveiro (one), Madeira (one), Setúbal (one) and Santarém (one), totalling more than 150 physical shops nationwide.
Founded in 2008, MaxFinance was one of the first organisations to be certified by the Bank of Portugal as a tied credit intermediary and is currently a partner of 12 banks and financial institutions in the country.
With a total of 370 franchisees and a team of 1,100 people, MaxFinance claims to have "the largest national credit intermediation network, certified training and a range of services in the financial area" - including home loans, personal loans, car loans, renting and leasing solutions, business financing and insurance.
According to Rubio, since the beginning of 2024 investment in the expansion of the broker's network "has been focused mainly on strengthening the internal structure and optimising strategies for attracting new franchisees.
"The investment made is based on a detailed analysis of a business plan that takes into account the region, location and physical space of the new shops," she explained.
Asked about the investment made in expanding the network since the beginning of the year, Rubio said that "the costs associated with expansion depend on various factors, including the location of the new shops and the structure required.
"In terms of specific acquisition values, these can vary depending on where the candidates come from and the negotiations that take place," she said.
Faced with the current economic climate, MaxFinance claims to have adopted "a more qualitative than quantitative approach", focussing on "the stability and sustainability of growth.
"The stabilisation of unemployment and the lower mobility of the population directly influence the recruitment process, requiring greater dedication to inspecting and attracting qualified entrepreneurs," said Rubio, adding: "We are committed to supporting both candidates who wish to join our network and entrepreneurs looking to diversify their businesses, offering complete and personalised support that facilitates the development of successful economic activities.
"We continue to believe in proximity, which allows for face-to-face and personalised support," she went on. "We increasingly feel that the Portuguese, when looking for credit, turn to MaxFinance's services because it's a free service that offers them the best solutions for their investments."
In Rubio's opinion, "the growth in the average value of loans granted confirms that the market continues to show signs of confidence, particularly in the property sector."
PD/ARO // ARO.
Lusa
