Ruwad motivates entrepreneurs to embark on franchise projects

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Sharjah 24: The Sharjah Foundation to Support Pioneer Entrepreneurs (Ruwad) of the Sharjah Economic Development Department (SEDD) organized a virtual training program titled: How to Become a Successful Franchisor? With the participation of 20 male and female entrepreneurs.
Trainer and businessman Jassim Al Bastaki presented the 3-day program.

In this context, His Excellency Hamad Ali Abdullah Al Mahmoud, Director of Ruwad, said that the UAE is an ideal destination for franchising with many international companies. Yet this type of business still needs more awareness among entrepreneurs who wish to enter the world of entrepreneurship and establish their small and medium businesses. In addition to the owners of existing projects and who wish to develop their activities, services and products in a more professional manner.

His Excellency added that the number of Ruwad member projects that operate on the franchise system is 43 projects, including 36 projects for entrepreneurs, 6 projects for women entrepreneurs and 1 joint project.

His Excellency pointed out that today’s entrepreneurs have a greater need to develop their knowledge of the concept of franchising as a business option.

The training program included five main axes represented in the definition of the concept of franchise, its importance and its advantages, the strategic structure of the franchise, the legal aspect that regulates it and the types of contracts attached to it. Besides the nature of the relationship between the two parties to the relationship in the franchise agreements, namely the licensor and the concessionaire, and the success factors of each party.

Jassim Al Bastaki said that the program aims to promote and realize growth and investment opportunities for innovative ideas and solutions owned by program participants by helping them understand the content of franchising, how they managed to achieve their goals and to achieve their projects in the world through local roots.

Al Bastaki underlined the need for those wishing to enter franchising to understand what are the roles and responsibilities of commercial franchise purchasing and the forms of this franchise, and to develop their negotiation skills, as well as their familiarity with operational aspects. franchise operations.

The trainer explained to the participants that strategic planning is an important pillar to enable the entrepreneur to successfully practice this type of business. This included correct site and supply chain selection, determining the costs of obtaining the franchise, marketing their project, other legal aspects and areas of technical and logistical support.


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