BinHendi Enterprises expects to sign at least 10 franchises for its home-grown Japengo Cafe chain of restaurants in neighbouring GCC countries by next year, its president said yesterday. Mohi-Din bin Hendi, the president of the Dubai-based retail group, which has a portfolio of more than 60 brands and 100 stores across the country, said the company would be signing up at least 10 franchises by the end of the year. "We'll start with our neighbouring countries, then we'll go out. The Far East is on our agenda and the US is on our agenda," Mr bin Hendi said. The group would keep its focus on the GCC region until western economies improved, he said.
BinHendi began the process in the middle of last year, making it one of the few UAE-based retailers to start franchising out its own brands. Usually, most local retail groups bring franchises of successful retail chains from the West, such as Starbucks and Hugo Boss, into the UAE. "Retail is something quite new in the region," said Laurent-Patrick Gally, a retail analyst with Shuaa Capital. "Although we have had shopping malls for several years, the concept of organised retail, and developing your own brand, is quite new."
BinHendi launched Japengo Cafe, which offers a mix of Chinese, Japanese, Lebanese and Italian foods, in the late 1990s. The chain has since grown to nine outlets in the UAE and one in India. Company executives decided to look into franchising the concept after receiving calls in recent years from investors, Mr bin Hendi said. Mr Gally said Japengo's menu, which features a blend of cultures, made it an easy sell in many markets. Franchising is an ideal way to expand business during tough economic times because of the reduced investment required by those taking on a franchise, and lower liability if sales sag, he added.
"You don't incur the full cost, and also don't incur the full risk," Mr Gally said. "In times when there is an economic slowdown, though food is doing OK, franchising gives them the opportunity to have their name out there." BinHendi also aims to franchise some of its other food concepts, including Cafe Havana and the Asian restaurant China Times, Mr bin Hendi said. In May, the company closed BinHendi Avenue, its two-storey wing of 26 retail stores in Deira City Centre. Mr bin Hendi said the group decided on the closure because its affluent customers had begun shopping in more upmarket malls.
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Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test Thursday-Monday at Colombo
- 3rd Test August 12-16 at Pallekele
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The Gandhi Murder
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Sustainable Development Goals
1. End poverty in all its forms everywhere
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The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
Hajj 2019
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
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The specs: 2019 Haval H6
Price, base: Dh69,900
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Seven-speed automatic
Power: 197hp @ 5,500rpm
Torque: 315Nm @ 2,000rpm
Fuel economy, combined: 7.0L / 100km
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The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
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Try out the test yourself
Q1 Suppose you had $100 in a savings account and the interest rate was 2 per cent per year. After five years, how much do you think you would have in the account if you left the money to grow?
a) More than $102
b) Exactly $102
c) Less than $102
d) Do not know
e) Refuse to answer
Q2 Imagine that the interest rate on your savings account was 1 per cent per year and inflation was 2 per cent per year. After one year, how much would you be able to buy with the money in this account?
a) More than today
b) Exactly the same as today
c) Less than today
d) Do not know
e) Refuse to answer
Q4 Do you think that the following statement is true or false? “Buying a single company stock usually provides a safer return than a stock mutual fund.”
a) True
b) False
d) Do not know
e) Refuse to answer
The “Big Three” financial literacy questions were created by Professors Annamaria Lusardi of the George Washington School of Business and Olivia Mitchell, of the Wharton School of the University of Pennsylvania.
Answers: Q1 More than $102 (compound interest). Q2 Less than today (inflation). Q3 False (diversification).
info-box
COMPANY PROFILE
Company name: Happy Tenant
Started: January 2019
Co-founders: Joe Moufarrej and Umar Rana
Based: Dubai
Sector: Technology, real-estate
Initial investment: Dh2.5 million
Investors: Self-funded
Total customers: 4,000
COMPANY%20PROFILE
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
AUSTRALIA SQUAD
Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle
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The%20specs
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SPECS
Mini John Cooper Works Clubman and Mini John Cooper Works Countryman
Engine: two-litre 4-cylinder turbo
Transmission: nine-speed automatic
Power: 306hp
Torque: 450Nm
Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500