The World Franchise Council (WFC), an association of 47 member states, convened in Abu Dhabi to hold a week's worth of meetings to continue ensuring best ethical practice and promoting the ever-growing industry on a global scale, hosted by the Emirates Association for Franchise Development, (FAD).
Recent statistics published by the WFC showed that franchising contributes 2.7% to the world economy of members in the WFC. Contributing over $1.75 trillion per annum, the United States leads the way, with over $650 billion of revenue generated per year. These statistics were compiled in the World Franchise Council Survey on the Economic Impact of Franchising Worldwide, created to monitor the global franchise landscape. It was also reported that there are over 2,000,000 franchise businesses globally, creating 19,000,000 jobs.
The summit also coincided with the International Franchise Exhibition 2019, organised by Emirates Associates for Franchise Development (FAD), showcasing opportunities for prospective franchisees and potential master licensees to explore franchising opportunities.
Dr. Hatem Zaki, General Secretariat of the World Franchise Council, stated: "When the World Franchise Council meets up, the purpose is to ensure the global franchising landscape continues to thrive and we collaborate and share our expertise to benefit franchising all over the world.
Attendees at the World Franchise Council meeting in Abu Dhabi
"Ever since the World Franchise Council was formed, franchising has continued to thrive, particularly within member nations. Our job is to ensure the industry continues to grow ethically and that people realise the benefits of the industry, contributing to a tried and tested model."
The meetings included updated reports on risks and implications of joint employer liability, a focus on using digital marketing and social media to attract and communicate with new and existing members, and exploring best practice in regards to governance structures within each association.
His Excellency Mohamed H. Al Muhairi, Director General of Abu Dhabi Chamber of Commerce & Industry and Chairman of the Emirates Association for Franchise Development, who was hosting the summit, stated: "I am proud to help drive the industry forward, not only in the UAE, both also throughout the world.
"We have over 100 franchise systems now in my country and we predict that this will continue to increase rapidly, as it is doing in so many parts of the world."
For more information or a gallery of images, please contact Patrick Hulbert, at the British Franchise Association: patrickhulbert@thebfa.org
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About the World Franchise Council
The World Franchise Council is the governing body for the global franchising industry. It was founded in 1994 and has 47 members spanning the breadth of the world.
About the Emirates Association for Franchise Development (FAD)
Founded in 2015, FAD sits under the Chamber of Commerce & Industry and was created to help promote, sustain, educate and empower people in franchising in the UAE.
Attachment
- Franchising community at International Franchise Exhibition 2019 (https://ml-eu.globenewswire.com/Resource/Download/d0416271-81d4-41f1-b9a4-81cac271d402)
