The World Franchise Council, an association of 47 member states and hosted by the Emirates Association for Franchise Development, 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.
Recent statistics published by the WFC showed that of 22 members taking part, the average annual contribution to their respective economies sat at 2.7%, making over $1.75 trillion for these members collectively, with the USA creating the most for its economy at over $650 billion. It was reported at the summit that franchising continues to grow around the world, especially among member nations of the WFC.
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.
Hatem Zaki, Secretary General 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.
“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 release the benefits of the industry, contributing to a tried and tested model.”
The meetings received updated reports on risks and implications of joint employer liability, using digital marketing and social to attract, communicate and to new members, best practice in regards to governance structures within each association.
His Excellency Mohamed H. Al Muhairi, 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.