The Small and Medium Enterprises General Authority “Monsha’at” revealed the Franchise Door at the Biban 24 forum, held under the theme A Global Destination for Opportunities from November 5 to 9 at Riyadh Front Exhibition and Conference Center, with the participation of more than 70 franchisor brands and 12 consulting and legal firms. The Door contributes to strengthening expansion opportunities for local and global franchisor brands by supporting the franchise ecosystem and connecting it with the relevant entities, which strengthens the culture of working with this economic model and raises the skills of franchisors and practitioners in the field.
The Door aims to introduce the concept of franchising and the services offered by the Franchise Center, showcase the investment opportunities available across various sectors at the local and global levels, and connect them with the relevant entities as a model for expansion and investment. The Door targets entrepreneurs aspiring to obtain a franchise, investors looking for investment opportunities in this field, and enterprises seeking to expand through the franchise business model, as well as practitioners and relevant entities.
The Door provides guidance opportunities for entrepreneurs and SME owners, making it an important stop in strengthening entrepreneurship, and opens the way for visitors to sit down with franchisor brands. It also strengthens the spread of brands and raises the level of competence among franchisees, franchisors, and practitioners.
The Door also allows its visitors to benefit from the services of the entities in the franchise ecosystem, and enables them to attend workshops and awareness seminars that offer opportunities to benefit from local and international expertise, and to meet experts in the field through consultation sessions.
For its part, the Franchise Center at Monsha’at contributes to supporting the national economy by spreading the culture of franchising and providing enabling services that help strengthen the adoption of the franchise business model and increase the success rate of brand expansion, strengthening the development of the business environment and contributing to achieving the objectives of Saudi Vision 2030.
The Biban 24 forum comes in response to the aspirations of SMEs and entrepreneurs by strengthening the growth and competitiveness of their projects and stimulating the establishment of new companies, strengthening sustainable economic development in the Kingdom.