Sep 10 2011 |
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Franchise UAE to attract major brands
DUBAI -- The second edition of Franchise UAE will be a key platform for Indian and international franchise brands looking to make forays into Middle East without risk and significant capital investment, according to its organiser.The two-day event, scheduled on October 1 and 2, is set to provide fresh insights into the Middle East's $30 billion franchising market.
It is organised by Franchise Middle East and supported by Dubai SME -- an agency of Dubai's Department of Economic Development -- Ruwad Establishment, Middle East Franchising, the Dubai Chamber of Commerce and Industry, the Indian Franchise Association and the Commercial Office of the UAE Embassy, New Delhi.
"The... response to the first edition of Franchise UAE reflected the interest in franchising in the Gulf. It will be a perfect meeting place for UAE Franchise brands to meet partners for business expansion," Franchise Middle East managing director Gaurav Marya said.
According to Marya, the first edition of Franchise UAE generated business deals valued at over $10 million, of which one-third came from Emirati investors.
The event was visited by over 700 investors, especially women entrepreneurs, who engaged in one-on-one meetings with representatives from 50 brands covering diverse business segments, he added.
The Middle East franchising market, currently growing at 27 per cent annually, presents unparallelled opportunities for growth because of the presence of a large number of high net worth individuals and multi-ethnic populations with high disposable incomes, according to a statement by the organiser. Franchise UAE 2011 is a platform for new entrepreneurs, budding enterprises and established small and medium enterprises eyeing new areas for business alliances and strategic associations in Middle East.
Apart from the trade show, the Entrepreneurship Summit, organised as part of the event, will focus on creating regional collaboration networking and entrepreneurship development between India and the Middle East for selecting new and growing business opportunities, a statement said.
In the Middle East, the franchise market has been largely dominated by American brands with a lion's share of over 70 per cent.
However, as per the current scenario, the franchise business is diversifying and there is a huge scope for big and small franchising buyers and sellers in the region.
© Khaleej Times 2011
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