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Thursday, June 20, 2024

Entrepreneur Mohammed Alnuaimi:The Double-Edged Sword of Franchising

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 Franchise, or what is inferred as the Franchise system, has become a mainstay in commercial systems globally after its enormous consequences on the level of the gross production of countries, and its provision of many jobs vacancies.

 From here, Emirati entrepreneur Mohammed Alnuaimi pointed out that the commercial franchise is a double-edged sword, as it reflects thoroughly on the individual benefiting from the franchise as it goes beyond the intention of ​​establishing a current project under the shadow of a primary and successful brand that handles marketing and advertising and provides administrative and operational requirements, but on the other hand, the beneficiary has to encounter challenges as well.

 In this context, Alnuaimi said that these challenges are firstly exemplified in the difficulty of modifying or adding to the product, the difficulty of adapting the product in the contemporary area, in addition to the odd behaviour of the customer from one place to another and his desire to enjoy the exact quality of the product, in addition to the necessity of supplying raw materials and high franchise fees.

 Mohammed stressed that supporting this system is very crucial to spread prominent brands around the world on one hand, and provide job opportunities and prosperity for minor and mediocre enterprises in developing countries striving for development on other hand.

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