November 15, 2013World Franchise Associates (WFA) and the Middle East & North Africa Franchise Association (MENAFA) have wrapped up their World Franchise Convention in Dubai where they connected dozens of franchise brands looking to expand internationally with hundreds of qualified franchise partners. The conference was attended by His Highness Prince Bandar bin Saud bin Kahled bin Muhammad Al-Saud of Saudi Arabia and Secretary General of the Federation of GCC Chambers His Excellency Abdul Rahim Hassan Naqi. The World Franchise Convention yielded an estimated $12 million worth of franchising deals and big brand buzz in these Middle Eastern markets.
Founded by Paul Cairnie in 1998 and headquartered in London and Chicago, WFA enables franchisors to enter new international markets by assisting them in identifying qualified candidates wishing to invest in a franchise system as an area developer, master franchisee, or multi-unit or multi-country franchisee. WFA regularly hosts one or two day events in different countries, bringing together American franchisors seeking partners and qualified candidates seeking investment opportunities. At the events, franchisors have the opportunity to meet face-to-face with prospective franchise partners and participate in panels and presentations on the future of their company’s international development.
“The convention was a great success, with positive feedback from franchisors and delegates alike,” said Martin Hancock, North American COO of WFA. “We were delighted that His Highness was able to attend and meet the various franchisors and businessmen at the conference.”
Clients for WFA consist of companies in most franchising sectors, and include brands such as Conde Nast, Earl of Sandwich, Joe’s Crab Shack and Smoothie King.
According to recent reports, the global franchise industry will be worth $5 trillion by 2020 and 50 percent of the top 200 franchised brands’ units will be overseas within a decade. The struggling economy in the United States coupled with increasingly saturated markets has caused brands to look elsewhere for revenue and growth opportunities.
“There is very high demand for U.S. brands in the UAE and the rest of the Middle East overall,” said Hancock, “We are very happy we were able to bring together so many of them with potential franchisees.”
WFA has six events planned for 2014, including four in partnership with the MENAFA. For more information, visit www.worldfranchiseassociates.com.