Starting a Business in Bulgaria – A Journey of Taste
In the dynamic world of culinary arts, there are few stories as shaped by determination and passion as that of Hristo Mirchev, founder and CEO of HM Chocolates in Sofia. Born in Bulgaria and raised in the US, Hristo moved back and forth between both countries – ultimately finding the perfect stage for his dream back in his homeland: building his own chocolate business. This blog article tells the story of his entrepreneurial journey in Bulgaria.
From Political Theory to Sweet Dreams
The Unusual Career of a Bulgarian Entrepreneur
Hristo’s path was anything but straightforward. After completing high school in the US, he started studying political science at the American University of Bulgaria (AUBG). But he soon realized that his true passion lay not in theory, but in the kitchen. Back in the US, he trained as a chef and gained valuable experience – including positions at the JW Marriott in Las Vegas and several Michelin-starred restaurants in Denmark.
From Hobby to Business: The Birth of HM Chocolates
How a Small Idea Became a Real Business in Bulgaria
Back in Bulgaria, Hristo worked in the kitchens of renowned celebrity chef Andre Tokev. But it was his passion for chocolate – and a shared hobby with his girlfriend – that laid the foundation for HM Chocolates. What started as home experiments quickly evolved into a business idea with real substance.
“It’s much harder than it seems […] everything related to the bureaucracy of the process […] it’s not that easy to build a company.”
Hristo Mirchev
The bureaucratic challenges were significant. Permits and municipal regulations required persistence – but Hristo didn’t let that discourage him.
Successful Business Formation in Bulgaria: What Hristo Learned
From Idea to Execution – Practical Tips from First-Hand Experience
Hristo’s story is a great example of successful business formation in Bulgaria. Here are some key takeaways:
- Patience with Bureaucracy
Building a company in Bulgaria is doable – but sometimes complex. Success requires patience with administrative processes.
- Quality as a Unique Selling Point
Hristo’s uncompromising approach to quality clearly sets his products apart – a factor that’s essential in any industry.
- Think Big from Small Beginnings
What started as a hobby turned into a solid business model through hard work, strategic choices, and teamwork – including a café in Sofia.
Advantages and Challenges of Starting a Business in Bulgaria
Why Starting a Business in Bulgaria Can Pay Off – and What to Watch Out For
Advantages
- Low Cost of Living and Operating Costs
Affordable rent, wages, and living expenses give founders a real head start.
- Attractive Tax Structure
With a 10% corporate tax and 5% dividend tax, Bulgaria enables highly tax-efficient strategies.
- Creative Entrepreneurial Culture
According to Hristo, Bulgarians are naturally entrepreneurial. While not every idea is fully thought out, there’s an inspiring climate for founders.
Challenges
- Bureaucratic Hurdles
From local regulations to municipal approvals – getting fully operational can take time.
- Non-Transparent Market Practices
Practices like paying wages under the table make competition harder for honest entrepreneurs like Hristo.
- Differences in Customer Preferences
While younger Bulgarians are willing to pay for quality, older generations often prefer cheaper alternatives – a challenge for premium products.
A Look Ahead: Expanding with Flavor
Bulgaria as a Launchpad for Entrepreneurial Success
Hristo is already planning his next moves: B2B partnerships, event catering, and expanding the product line. Entering other European markets is also on the radar. But no matter how big HM Chocolates becomes, the recipe for success remains a mix of passion, quality, and vision.
Starting a Business in Bulgaria – More Than Just Tax Benefits
Hristo Mirchev’s story shows that starting a business in Bulgaria is not only possible – it’s worth it. Those willing to navigate bureaucracy, offer high-quality products or services, and position themselves wisely in the local market can go far. Hristo’s journey is more than a one-off success – it’s an inspiration for anyone ready to take a bold step forward with creativity and courage.
Check out our latest blog post: Want to know how other founders experienced their business formation in Bulgaria? 🇧🇬 Here you’ll find real success stories straight from the source:
https://startinbg.com/blog/unternehmer-in-bulgarien-erfolgsgeschichten/
