The Ajman Chamber of Commerce is enhancing awareness of franchising mechanisms and how to benefit from them, striving to support small and medium-sized enterprises through workshops and educational sessions. The chamber organized a session titled “Franchising – Opportunities and Challenges” to deepen understanding of this vital concept as a means for growth and prosperity in the business world. The session aims to highlight franchising mechanisms and how proper preparation can open new horizons for entrepreneurs in the Emirate of Ajman.
Raising Awareness Among Entrepreneurs
The session, held in collaboration with the subcommittee of the Emirates Franchise Association in Ajman, emphasized the importance of intensifying training programs to raise awareness of franchising mechanisms and how to leverage them. This was discussed during the event at the Ajman Youth Center, where attendees were introduced to the concept of franchising and its role as a tool for growth and expansion. Among those present were Maher Tarish Al Ali, a member of the Ajman Chamber Board, and Jamila Kajour Al Nuaimi, Director of Member Relations and Support, along with a group of entrepreneurs.
Accelerated Growth in the Sector
Maher Tarish highlighted the importance of education in the franchising field to empower entrepreneurs to take advantage of available franchising opportunities. He praised the vital role played by the Emirates Franchise Association in promoting this sector, emphasizing the need for collaboration with various entities to support and expand local brands at both regional and international levels. This accelerated growth contributes to enhancing the national economy and creating business opportunities within the country.
Expansion Opportunities and Challenges
During the session, Jassim Al Bustaki, a franchising expert, explained the importance of franchising as an effective tool for expansion and growth. He also reviewed the opportunities offered by this sector, including well-known projects and brands, which help investors reduce market entry risks. Al Bustaki further explained how franchising enables the expansion of local projects and brands, thereby promoting Emirati culture through innovative products that carry national identity.
Operational Standards and Successful Experiences
The expert addressed the challenges that investors may face in the franchising field, such as compliance with operational standards and associated financial fees. He emphasized the importance of conducting legal and administrative feasibility studies for projects before entering into franchise agreements. He also showcased successful experiences in the UAE and their role in supporting economic diversification, providing new job opportunities, and contributing to knowledge and expertise transfer, thereby enhancing the business environment.