By: Omar Al-Haza'a - Founder & CEO, Franchise Arabia
1. You must understand the local context - Be ready to adapt to the local culture. You must be willing to tailor your offerings to meet local preferences & expectations.
2. You must understand the local laws - Seek proper counsel & advice and be sure to fully understand all legal aspects that govern your franchise agreement before it becomes legally binding .
3. You must understand the market geography - Most states in MENA share a common culture & history, yet there are also many differences in terms of cultural characteristics & approach to business. Lebanon is not Saudi nor Algeria. Take the time to understand the difference.
4. You must focus on quality not quantity - Gather relevant information to assess the quality of your candidates. When selecting a franchisee, do it like your future depends on it. Don’t be fooled by the Rolex & red Ferrari. Choose wisely!
5. You must know your competitors - Don’t Ignore the competition. Understanding your competitors can provide insights into how to implement your expansion plan. Ignoring that can be a fatal mistake.