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Sharjah on September 20
His Excellency Hamad Ali Abdullah Al Mahmoud, Director of the Sharjah Foundation for Supporting Entrepreneurial Projects “Ruwad”, confirmed that the UAE is considered an ideal destination for commercial franchising rights for many international companies with a strong brand, noting that “Ruwad” has made significant strides in the field of attracting and incubating projects. Successful Emirati small and medium enterprises and including them in the group of quality projects affiliated with the Foundation’s membership, and also working to provide means of integrated support for the branding of these projects, developing them and preparing them to move to the possibility of providing and granting commercial franchise rights to other companies.
This came during an evening recently organized by the Sharjah Foundation for Supporting Entrepreneurial Projects “Ruwad”, affiliated with the Sharjah Economic Development Department, in cooperation with the “Imtiaz” Company, which specializes in commercial franchising, entitled “Building a Future with Franchise Systems,” in the presence of 27 male and female entrepreneurs interested in entering the experience. Commercial franchising rights by exploring the opportunities that the entrepreneurship sector holds and presented by expert consultant Issam Lootah, CEO of Imtiaz Company.
He pointed out that the number of projects joining the membership, holding or granting commercial franchise rights, rose to 4 projects, 3 of which were in the city of Sharjah and one project in Khor Fakkan.
During the evening, Advisor Lootah spoke about the importance of enhancing and realizing investment opportunities for the innovative ideas and solutions possessed by the participants in the program by helping them understand the content of commercial franchise rights and how they will succeed in achieving their goals and bringing their projects and commercial experiences to the international level through local roots, in addition to the optimal strategies for benefiting from them. One of the advantages offered by this business model is the development of entrepreneurs’ projects in various sectors.
Lootah stressed the need for those wishing to enter the commercial franchising experience to understand what the roles and responsibilities of purchasing in commercial franchising rights are and the forms of this franchise, and to develop their negotiation skills regarding commercial franchising, as well as familiarity with the operational aspects of franchising operations to ensure the success of the business and achieve its desired goals.
