Midas Furniture teams-up with Francorp to develop its franchise

PRLog (Press Release) – Oct 15, 2007 – Midas Furniture has signed an agreement with the American company Francorp through its Middle East regional office in Dubai. According to the agreement, Francorp will design a special program to develop a franchise system for Midas, who plans to expand regionally and globally through franchising, or what is known as brand sale and franchising rights.

Through this ambitious program, Midas Furniture plans to develop and prepare itself for regional and global expansion and open new branches to compete with multinational companies specialized in the furniture industry. This step is taken after Midas’s successful 15-year experience in the Kuwaiti market, where it has secured a considerable market share, acquired customer satisfaction for its quality products and services. The company is known in Kuwait by offering affordable, high-quality furniture and accessories which appeal to all tastes making it one of Kuwait’s largest home and office furniture retailers.

The agreement was signed between Khaldoon Al Khammach, President of Midas, and Imad Charafeddine, Regional Business Development Manager at Francorp Middle East.

“Our massive success in Kuwait and Jordan represents a platform for us to move forward,” said Khaldoon. “We are planning to cross borders towards regional markets as a preliminary step to expand to international markets. We intend to position ourselves over the coming years as a leading brand in the region.”

“We, at Francorp, are very delighted to see franchises expand in the region,” commented Imad Charafeddine., Regional Business Development Manager at Francorp Middle East. “Franchising is becoming a necessity for many local businesses aiming at achieving more business successes. It is observed that the awareness of the importance of franchising is increasing day by day. Successful local businesses started to realize its great benefits and the positive impact it has on their business development. Franchise is one of the most effective options which takes ambitious companies to new destinations and accelerate their expansion within the global markets, especially from emerging markets such as the Middle East.”

“We are also pleased to add Midas Furniture to our premier client list and to offer them our consultancy for their expansion program. This is also due to their remarkable success as industry leaders in the Kuwaiti market, and now it is the opportunity to duplicate their local success at both regional and global levels. It is our commitment now to use our long experience to offer a comprehensive franchising program to Midas Furniture,” added Imad Charafeddine.

“We have teamed-up with the US-based Francorp, the leader in franchise development and consultation, because of their vast experience that goes back to 30 years and their track record in the sale of franchise rights and development programs along with their experience in this region,” concluded Khaldoon.

Francorp opened their office in Dubai and started their regional operation by offering professional commercial services throughout the Middle East and North Africa. With their extensive experience, outstanding achievements and high quality services, Francorp became one of the largest leading international companies in franchise development and consultancy.