Friday, Jan 18, 2008
Abu Dhabi: Foodco Holding's new franchise, Sense Gourmet, launched a new chain of American restaurants in Abu Dhabi on Thursday. Senior executives of Foodco said franchise businesses in the UAE have tremendous potential. .
The new chain of outlets for Figaro's Pizza, an American brand, will comprise 35 branches throughout the UAE, to be established over five years. "This year, we plan to open five outlets in the UAE. The one in Abu Dhabi will be followed by a second outlet in Sharjah next month," said Ahmad Al Dhahery, Sense's chairman.
A third outlet will be opened in Dubai in March, and the fourth and fifth outlets will be opened during the second half of this year.
The master franchise agreement signed with Sense takes the Figaro's name for the first time beyond North America where there are 120 outlets in the US and Canada.
Sense plans to roll out the brand at a later stage to Kuwait, Saudi Arabia, Qatar, Oman, Bahrain, Egypt, and Lebanon.
Opportunities
"There are very attractive opportunities for the franchise business in Abu Dhabi, to cater to the needs of an ever increasing population," Al Dhahery explained.
The new project has a paid up capital of Dh33 million, with Foodco having a 50 per cent share, while the other fifty per cent is covered by private shareholders, among them some Foodco shareholders as well.
"The UAE is a very fertile environment for franchises, as there is an obvious absence of many brands here, and we consider Abu Dhabi to be one of the most promising places for such business in the future," Ali Al Qellawi, Sense's managing director and board member said.
Gulf News 2008. All rights reserved.
