Under the title ‘How to be a successful franchisor’, the Small & Medium Enterprises Center (Tijarah 101) at the Sharjah Chamber of Commerce & Industry, SCCI, organized a virtual workshop to get entrepreneurs acquainted with the best practices in the franchising industry.
The event was held in cooperation with the Dubai Entrepreneurship Academy and was sponsored by the National SME Program.
Moderated by the Emirati entrepreneur Jassim Al Bastaki, the workshop was attended by Tijarah 101 members and those interested in establishing their own businesses. The discussion touched on four key areas, through which the entrepreneur can run a successful franchise. This includes; turning the franchising concept into an option for a business, understanding the roles and responsibilities of franchising partners, boosting negotiation skills, and understanding the operational aspects of the franchise to ensure business success.
“The SCCI attaches special importance to entrepreneurs, by developing their skills and introducing them to the latest concepts of the franchise and its mechanisms,” said His Excellency Mohammed Ahmed Amin Al Awadi, Director General of SCCI, “The workshop has introduced realistic tips for entrepreneurs on how to build a successful startup, especially in light of the significant development seen by the UAE in the franchise industry.”
Mona Omran Ali, Director of Tijarah 101 Center, said: “The workshop was a perfect opportunity for entrepreneurs to help understand how they can start a successful franchise for their businesses and what are the key components and elements of a strong franchise system.”
In turn, Jassim Al Bastaki gave a detailed explanation of the strategic structure of the franchise, including legal documents, strategic plan, operating manual, and marketing plan. He also shed light on evaluation mechanisms before starting the franchising, so that the entrepreneur can determine whether he can penetrate this industry or not.
The workshop also dealt with how to create a franchise operations manual, considering the location, financial management, human resources, maintenance, advertising, insurance, merchandise marketing mechanisms, training, and customer service.