EXCLUSIVE INTERVIEW
EXPO COVERAGE
Francrop Franchise Seminar An exclusive interview with one of the world’s foremost franchising executives with over 40 years of professional field and consulting experience, Donald Boroian, Chairman of Francorp Inc.
The Late last year global franchise development consultancy firm Francorp hosted an exclusive “Own Your Own Buisness” and “Franchise Your Own Business” seminar at Dubai’s Al Murooj Rotana Hotel. The seminar, which took place on December 8, was fronted by Donald Boroian, Chairman of Francorp Inc, and was aimed towards new franchisors, business owners, investors, and corporations to provide them with the latest information, trends, and strategies in franchising. Mr. Boroian is considered one of the world’s foremost franchising executives with over 40 years of professional field and consulting experience, yet despite his hectic schedule, he took time out to speak to The Franchise Magazine MENA and discuss the services his company offers and to share his thoughts on the market in Dubai.
What does Francorp offer that other franchise development firms do not? Because we’re global - we have offices in 27 countries and service 45 countries - we’re able to have a much broader perspective, a much better sample of what is really going on world-wide. We have such experience: 36 years we’ve been in business. There’s no one even close to that, or the number of people we have. But more importantly, I think it is the experience we have globally in all of these franchises that we have.
What is the most important piece of advice you can offer franchise holders currently in the market to sell a franchise? The most critical thing in selling franchises is the selection process to begin with, because no matter how good the training is, if you aren’t selective in the people you sell to, you’re casting your pearls to the swine. So number one is selection. It’s like we
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Donald Boroian, Chairman of Francorp Inc.
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We have offices in 27 countries and service 45 countries - we’re able to have a much broader perspective, a much better sample of what is really going on world-wide. We have such experience: 36 years we’ve been in business. There’s no one even close to that.
say ‘location, location, location. It’s selection, selection, selection’’. Select the right kinds of people, that’s very critical and so is training. There is a direct correlation between the success of a franchise and the quality, quantity and duration of the training. There has to be a training programme intense and long enough.
What is your overall impression of franchising in Dubai? I’m very impressed with the quality of contemporary and cutting edge businesses in Dubai. It’s more than just simply a matter of importing major
brands from other countries. There are brands being developed here. Which is sort of an extension of the ruling family of this whole visionary, the whole population thinks like this. I’ve never seen anything like this. We have the biggest problem in a lot of countries is the government, all the restraints and so on, here, there is an encouraging atmosphere for companies to develop and grow and money available and investors within the country. The tax environment is very favourable, it’s an amazing market. So as I get back in contact with our clients about coming into Dubai I have a much more enlightened view.
Are there any specific companies you can see expanding to Dubai? I think most of the major brands in the US would consider Dubai. The thing is we [Francorp] are the gatekeeper for most of the US companies that want to go into other countries. I can call the CEO of any company and get his ear and when I tell him about what I have seen in Dubai, there will be companies willing to come here that before did not really appreciate this market. I think in general we have viewed the Middle East as kind of an unstable economic and political area. That is certainly not the case. It’s very stable and economically very viable.
How does the franchising industry in the UAE compare with other markets? I think here is the classic feeding frenzy that we have discovered in Japan and in the other countries. It is almost like they have just discovered franchise opportunities and now they are scrambling to be the first one to get the major brands here. Right now it’s following pretty much the same pattern that we have everywhere, which is food. Food is a very strong sector in franchising
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