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Success of Family Business

In that period heavy economic and political crisis was reigning in the country and it was very risky to undertake any business, but close relatives founded Baia food products store for earning their living.

Twenty years ago Gia Arsenidze, Zurab Arsenidze and Elguja Gelashvili started daily supply of their first store. They used to choose assortment and care for consumer’s content. In two years Baia store was followed by several new stores of the same format.

The successful business raised interest of other businessmen too and quantity of founders increased, as well as the quantity of stores.

In that period owners of the Baia network of stores acquired Zgapari restaurant by auction.  The founders thought food products store business was comparatively more perspective compared to restaurant business and they jointly decided to call the network of stores as Zgapari. All further expansion activities were carried out under the same name.

Our respondent Gia Arsenidze, one of the founders of network of supermarkets, noted that the main secret of success consists in full understanding, respect between founders and responsibility for business. “We take all small or important decisions jointly. Fortunately, we reach agreement in simple way on all issues and we have joint visions and values”, Gia Arsenidze said.

They have also taken a joint decision to make all spaces for new facilities their own property. “Commerce is not our only objective. By acquisition of real estate, we grow investments and this guarantees additional stability for us and our consumers”.

Two years ago the founders visited Terabank for acquisition of additional space and adding several new supermarkets to the network.

«We had applied to many commercial banks, but their conditions were worsening in the course of time and we could not maintain stability in doing business. Two years ago we visited Terabank and we found best conditions in this bank. We covered all credits of other banks thanks to Terabank  and took a loan for acquisition of two additional facilities», he said.

Zgapari network of supermarkets has been a client of Terabank for two years and it actively uses services of SME personal banker and newly established business hub.