A session titled “Franchise – Opportunities and Challenges,” organized by the Ajman Chamber in collaboration with the subcommittee of the Emirates Franchise Association in Ajman, highlighted the necessity of enhancing training programs and specialized meetings. The goal is to increase awareness among owners of small and medium enterprises regarding franchise mechanisms and how to leverage them, thereby supporting the growth of their businesses and improving the competitive environment in the Ajman emirate.
Held at the Ajman Youth Center, the session aimed to raise awareness about the concept of franchising, its role as a growth and expansion tool for businesses, investment development, and the major challenges associated with it, along with strategies to overcome them. Notable attendees included Maher Tarish Al-Ali, a member of the Ajman Chamber’s Board of Directors and Vice President of the Emirates Franchise Association, as well as Jamila Kajour Al-Naimi, the Director of Member Relations and Support at the Ajman Chamber, members of the subcommittee of the Emirates Franchise Association in Ajman, and a group of entrepreneurs.
Accelerated Growth
Maher Tarish emphasized the importance of educating and raising awareness in the franchise sector to enable business owners to capitalize on franchise opportunities and navigate related challenges. He praised the Emirates Franchise Association for its ongoing efforts to bolster this vital sector and its collaboration with various entities to support local brands and expand them both regionally and internationally, especially since the sector is experiencing rapid growth, reflecting the effectiveness of franchising as a tool to bolster the national economy and enhance business opportunities in the country.
Expansion Opportunities
Jassim Al-Bastaki, a franchise expert and session presenter, explained the concept of franchising, emphasizing its significance as a powerful tool for expansion and growth in both local and global markets. He discussed the numerous projects and well-known brands this dynamic sector offers, as well as proven business models that minimize market entry risks. Furthermore, franchising provides opportunities for local brands to expand, enhancing their presence in regional and global markets, which helps disseminate Emirati culture and its authentic values through uniquely national products and services.
Operational Standards
He also addressed challenges that investors may face in the franchise sector, including adherence to operational standards and related fees, the importance of conducting feasibility studies before entering any franchise agreement, and having a sound legal and administrative understanding of the business. Al-Bastaki showcased several successful experiences in the UAE and the region, highlighting how franchising contributes to economic diversification, creates new job opportunities, facilitates the transfer of knowledge and skills, and fosters the development of the business environment.