The First Franchising Tour Kicks off in Al Khobar with the Participation of Supporting and Enabling Entities in the Commercial Sector
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The first franchising tour organized by the Small and Medium Enterprises General Authority "Monsha’at" kicked off today in Al Khobar for two days, attended by the Governor of the Authority, Sami bin Ibrahim Al-Husseini. The franchising tours, held in partnership with the Ministry of Commerce, the National Transformation Program, the Social Development Bank, the Small and Medium Enterprises Bank, and several supporting and enabling entities in this sector, aim to introduce services and programs in the field of franchising in alignment with the objectives of Saudi Vision 2030. The introductory tour included a dialogue session with the participation of Badr Al-Razeeza, Chairman of Asharqiah Chamber, and Faris Al-Abduljabar, Executive Director of Enterprise Financing at the Social Development Bank. They discussed the role of government and enabling entities in supporting entrepreneurs and small and medium enterprises in the franchising sector. Monsha’at will provide 10 specialized workshops, contributed by several enabling entities, including the Saudi Business Center and the Small and Medium Enterprises Bank. Additionally, the event will feature success stories and advisory sessions to introduce franchising, aimed at stimulating expansion and investment through the franchising business model, along with hosting 40 granting brands to showcase their investment opportunities across the Kingdom. On the first day, the program discussed holding a workshop titled "Legal Aspects of Franchising," covering topics such as certified mediation in franchising, marketing your brand, and building operational manuals for the brand. The second day of the tour will include workshops titled "Acquiring Franchise Rights and Evaluating Investment Opportunities," "Expansion Strategy in Franchising" "The Journey to Obtaining a Franchise," and "The Role of Supply Chains in Franchising." It is noted that seven enabling entities from the public and private sectors will participate in the introductory tour, providing their services to entrepreneurs and participants, in addition to consultants specializing in brand development, franchising expansion, brand identity building, and franchise operation and planning.
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