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From McDonald's to Subway and Nando's to New York Fries, there is no dearth of famous franchises in the UAE. And the proliferation of franchised businesses also proves that there is no dearth of businessmen investing in such.
The draw of becoming a franchisee is undeniable, and it continues to be a popular method for people looking to get into business. The reasons why this business method finds more takers are many: big franchisers have brand recognition and an established consumer market, and franchisers offer holistic support to franchisees including the selection of site, training of staff, marketing and advertising, among other advantages.
A pertinent point to note before finalizing a franchiser-franchisee relationship is to get the legal experts involved. Not only will this make all aspects of the relationship clear, including the role each partner will play, but it will also insure both parties against unpleasant surprises or future disputes. Another important step is registering the contract with the appropriate government entity.
As with all things good, there are a few drawbacks when entering into this kind of relationship. The most obvious is the ''interference'' factor. Franchisees do not have complete autonomy to make business decisions. Additionally, some franchisers will demand larger fees than the franchisee would be happy to part with.
• Register your contract with the right authority
• Franchising is a popular way of going into business
• Becoming a franchisee offers many advantages
Learn how to grow your brand by Franchising
Source: Bushra Hameduddin, Special to Classifieds
The writer is a freelancer