Franchising Industry Expected to Expand in Middle East
Franchising WorldJuly 2008
Franchise professionals in charge of their brand’s expansion plans should not overlook the fertile marketplace of the Middle East.
Following a successful Franchising Middle East Trade show in Dubai, show organizers remained optimistic that their region will experience a surge of franchise system growth from a variety of outside countries.
More than 70 brands from 25 countries attended the expo, which was organized by International Expo Consults, and due to the large turnout of prospective investors and positive feedback from exhibitors, it is expected that many regional brands will soon be launched into international markets.
“The economy of the United Arab Emirates is growing, entrepreneurs are evolving, and the service industry is developing. This all points to a wealth of opportunities for franchising,” said International Franchise Association Pres. and CEO Matthew Shay, who attended the event.
According to Shay, the UAE’s franchise business is worth more than the equivalent of $300 million, and that figure is expected to grow in the near future.
Exhibitors at the recent show, such as Doha-based Global Franchising and Taiwan-based Formosa Fruits expressed confidence in new business opportunities in the region. While Global Franchising promoted its car and truck rental services, Formosa Fruits debuted a waffle oven and an ice-cream maker.
“Franchising is the single most productive system of distribution for a brand,” said International Expo Consults Pres. Abdul Rehman Falaknaz. “It connects the operation with different parts of the world and enables companies to go global in a cost-effective manner. The success of this week’s trade show is testament to the success of the franchise system and we look forward to seeing more regional brands become global names as a result of this week’s business.”
Franchising Middle East is one of the largest international franchise exhibitions in the Middle East and is supported by the IFA.