Raydan Cuisines and Restaurants Company has signed, on Sunday, a franchise agreement with Nayef Hasan A. Al Qahtani Est. for five years as franchise agent for the its brand in Tabuk, the firm said in a bourse statement.
The contract, which is 6 percent of total sales in addition to the opening fee of $30,000 per branch, will have a positive financial impact on Raydan’s financials for Q2 2020, the statement added.
Nayef Al Qahtani Est. is one of the Saudi institutions working in several commercial activities, including retailing of food and caterings.
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