How EFSI benefits SMEs in Europe - KfW Bankengruppe case study: VIOLAS’ Gewürze & Delikatessen (Germany), Spices business

It was on their way back from vacation that Caroline Weinert and her husband literally stumbled onto VIOLAS’ gourmet food store in Hamburg, Germany. Caroline immediately fell in love with its concept, the wide range of products available and the attractive design: “I had been looking to take over a food business for years – I am such a passionate cook! When I discovered the concept of VIOLAS’, it immediately appealed to me. I asked right away if I could speak with the person in charge of this gourmet food store to discuss whether or not it would be possible to open a franchise in Cologne.”

Almost unbelievable, but true: one week later, Caroline and her husband found themselves again in Hamburg, negotiating the terms for the opening of a new franchise in Cologne where the couple lives. Their franchise store would bring the total amount of VIOLAS’ gourmet food stores to 14.

Caroline, who had previously worked as a trained banking professional, had put her career on hold for several years to take care of her two daughters. However, as her children grew and became more independent, Caroline sensed it was time to start working again. She made the decision to start her own business. Opening a franchise was therefore ideal, and also meant less economic risk. Thanks to an EU-guaranteed loan provided through the German KfW Banking Group and backed by EIF, Caroline was able to obtain a loan in order to set up the franchise business. Her loan was made possible by the Investment Plan for Europe, which aims to generate new investments through the support of small and medium-sized enterprises.

Today, Caroline finds herself working with a seven member team. She remains amazed by the number of clients, the majority female, who visit her gourmet food store and tell her how much they adore VIOLAS’ 13 other German stores: “Every day I meet customers who know VIOLAS from Hamburg and thank me for having opened a franchise here in Cologne.”

Company: VIOLAS’ Gewürze & Delikatessen (Germany)

Type of business: Food; Spices business

EIF financing: COSME LGF, EFSI

For further information about EIF intermediaries in Germany, please refer to: http://www.eif.org/what_we_do/where/de