Franchising in Middle East -High Growth Sector
The franchise industry in the MENA region is now worth around $14bn and is growing at a rate of about 27% per year according to International Expo Consults. The firm is organizing the Franchising Middle East event in Dubai from March 7-9. The IEC said the retail sector is now the fourth biggest contributor to the UAE's GDP. via ameinfo.com
"Currently, franchising companies and their franchisees account for $1 trillion in annual U.S. retail sales in 320,000 franchised small businesses in 75 industries. Markets outside U.S. borders represent new avenues of opportunity for franchisors with visions of expansion. While in the U.S., Canada and part of Western Europe franchising has reached domestic market saturation, emerging markets remain relatively untapped." www.franchisingme.com
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posted by bizzwhizz at 11:05 AM
2 Comments:
well...afiqhassan...here is something informative about franchising in uae
Franchising in the UAE
There is no special legislation for franchising in the UAE. General contract and commercial law apply to franchise agreements. UAE law mandates that only UAE citizens or corporations wholly owned by UAE citizens or those with a UAE partner or sponsor are allowed to conduct operations. Businesses located in the multiple free zones are exempt.
Having a desire to catalyse the development and growth of the small and medium size business sector in the UAE, the government is very keen to promote franchising. Under the guidance of His Highness General Sheikh Mohammed bin Rashid Al Maktoum, Crown Price of Dubai and UAE Miister of Defense, the Mohammed Bin Rashid Establishment For Young Business Leaders was opened to provide business training to entrepreneurs. Soon after in February 2004 the government launched the UAE Franchise Association. Since then the Dubai Islamic Bank (DIB) developed a program to assist young UAE nationals finance the purchase of franchises. Continuing its efforts in January 2005 the Mohammed Bin Rashid Establishment For Young Business Leaders introduced a program to assist young female UAE entrepreneurs develop new businesses.
As with other types of business operations in the UAE, the selection of the local partner or sponsor is critical. Each market is different and requires qualified local partners to exploit its opportunities.
forgot to mention the website
http://www.franchise.com/en/us/template/buyer,ResearchCenter.vm/display/2512
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