Middle Eastern country Iraq has a population of 39,630,354 people who mostly live in such big cities as Baghdad (7.66 mln), Basra (2.15 mln), Hillah (1.73 mln), and Najaf (1.39 mln). Iraq's economy has improved for the last years, apparently due to the increase in oil prices. The oil sector is dominant in the economy of the country. Manufacturing, transportation, agriculture, and communication are also significant business areas in Iraq.
Iraq provides a lot of franchise opportunities for different businesses as the market is not saturated and the competition is not high. However, some international companies mostly dealing with retail and F&B franchising have already penetrated the market. Among the other popular franchises available in the country are the ones dealing with education and IT services.
There are home-based franchises as well as famous European and US franchise brands successfully operating in the country. Entrepreneurs in Iraq are ready to grow their business by means of franchising. They would rather choose to follow a slow and steady business plan than guarantee 10 franchise units within 5 years.
One of the other peculiarities of doing franchise business in Iraq concerns training staff. It will probably take more time as a franchise business is quite new for Iraqis.
Franchise fee varies from $10,000 for a small online business in the country to $20,000 and higher.
There are high investment business opportunities, as well as cheap franchises in Iraq presented for review, the choice is yours.
Currency: Iraqi dinar (IQD, ع.د)
Education Index (2015): 0.5
Official languages: Arabic Kurdish
Per capita GDP (PPP): $17,429
Population: 193.2 mln
Total GDP (PPP): $695 billion
Ease of Doing Business Ranking, Rank: 168
Human Development Index (HDI): 0.685