Have you considered expanding into the Middle East and North Africa region?
If you have, then you must have an inkling that this is an area that has plenty going for it in its favour.
Of course, an abundant of wealthy potential customers is one of those things, but that's not all. After all, there is a reason why franchise sales in this area are estimated to be around $30bn and that number is even thought to be growing!
Here's just a few short reasons why MENA is the ideal location for franchises
1. As previously mentioned, many of the countries within this area have a large number of wealthy individuals. This has proven to be worthwhile for many retailers who are selling luxury items.
2. When those not from the Middle East think of the area, one of the first things that comes to mind is The Gulf. This is an area that has its own economic union that consists of Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Bahrain and Oman. Economic regions can represent serious opportunities, especially when they have a combined GDP of over a trillion dollars!
3. A population of around 300 million people that's growing can only be a good thing for a business, right?
4. It is also known to be investor friendly, with a pool of wealthy Individuals and upwardly mobile consumer market
5. A common language throughout most of this area can save on localisation costs, etc.
6. Over the past number of years, it is also an area that has a high demand for international goods. In fact, 80 percent of all GCC goods are generated from international brands.
7. There are industries, not previously associated with this area that are on the riese. For instance, fast food and tourism industries have grown throughout the GCC in recent years.
Find out more about the MENA region and what's on offer in our A-Z listings.