Mr. Khalil Al Qahiri, a Bahraini entrepreneur, call on his counterparts to entre Saudi market through “Franchise”, regretting that Bahraini business owners are clueless of adapting their projects in accordance to the franchise requirements which depriving national economy of great incomes.
Franchise is an arrangement where one party (the franchise) grants another party (the franchisee) the right to use its trademark as well as certain business systems and processes, to produce and market a good or service according to certain specifications. The franchisee usually pays one-time franchise fee plus percentage sales revenue as ongoing help in promoting and upgrading of the products, Al Qahiri declared.
Al Qahiri, recently established private company in KSA “Al Asil”, explained “through my direct interact with the Saudi market, I found that inventors in KSA have a greater tendency to franchise and operate immediately in Saudi Arabia, rather than branding there business from scratch. I can assure that there are no liquidity issues for Saudi investors once they are convinced with the brand’s worthiness”
He pointed out that the proportion of the contribution of “franchise” in the Bahraini GDP is very low, which means that there are great opportunities for expansion in this area, especially in the field of restaurants, education, electronic applications, small and medium industries and others.
He pointed out that the lack of adapting “franchise” in the Bahraini GDP, meaning that there are great opportunities for expansion in this field, mainly in restaurants, education, electronic applications, small and medium industries and others.
“Every business pioneer should ensure that his project meets Franchise requirements, in terms of operations management, marketing, contracts, etc., there are great success stories in the Kuwait and UAE, for example, for entrepreneurs who started with just one goal: renting their brand,” Al Qahiri said
“Franchise is important in establishing entrepreneurship and encouraging young Bahrainis to establish their own projects, as well as encouraging the culture of free business and entrepreneurs to adopt the concepts of research, innovation and creativity in the quality of projects they wish to establish.”
“It is essential that bodies concerned in entrepreneurship and SMEs to develop a roadmap enables Bahrain to export trademarks rather than just import them.” Al Qahiri concluded