Within recent years it has been reported that Dubai is quickly becoming a global hub for commerce and as a result, many companies are opening a franchise there. If you are thinking of expanding operations to the Middle East, Dubai would be a logical choice. It is one of the most geopolitically stable environments in the region and the government welcomes new business, especially from foreign entities. Buying a franchise and renting startup office space in Dubai can lead to a fruitful investment, but first it is suggested that you learn more about their laws, operating procedures and practical ways to run a franchise.
Franchise Workshop Sponsored by the Dubai Chamber
Recently, the Dubai Chamber of Commerce and Industry held a conference to address many of the issues facing businesses when opening franchises there. The meeting was entitled Practical and Legal Aspects of Franchising Workshop and was jointly organised by the Chamber and Al Tamimi & Company, a Dubai legal firm. In the workshop they addressed issues such as how to understand franchise contracts and ways to avoid problematic clauses, referred to as ‘pitfalls.’
Law Firm Gives Presentation and Advice
The workshop, jointly sponsored by the Chamber and the Al Tamimi law firm, had keynote speakers from the firm. Those presenting specific topics were:
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* Marcus Wallman, a partner in the firm
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* Omar Obeidat, a partner in the firm
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* Willem Steenkamp, Senior Associate
These speakers discussed common franchising agreements and highlighted typical clauses that often create problems down the road if not totally understood. They specifically discussed the key elements of most agreements and gave practical advice for starting up a franchise not only in Dubai, but in the Middle East in general.
Those in Attendance
Alongside members of the Chamber and the Al Tamimi law firm, the workshop was attended by representatives from the private sector. Investors, legal professionals and lawyers, business owners, general managers, corporate counsel, and representatives from the private sector were also in attendance. With such a diverse audience, the topics covered took on a broad focus but were detailed enough to present practical franchising advice to those seeking to buy into one, as well as for those seeking to offer franchise agreements in Dubai.
Informative Overview by the Chamber
According to the Director of the Legal Services Department of the Chamber, Ms Jehad Kazim, franchising is strong and getting stronger in the UAE. In fact, she further stated that franchising is the dominant business model in the country and it was the hope of the Chamber that this workshop would provide essential advice to businesses planning to enter into a franchise contract in Dubai, or within any area of the UAE.
Ms Kazim believes that this workshop should help the ‘continuity’ of start-up franchises and that this increase in trade would contribute to the overall economic growth and financial stability in Dubai. Regular ongoing workshops are offered by the Dubai Chamber of Commerce and Industry to help fledgling businesses succeed whilst boosting the local economy.
