Just Falafel plans major global expansion
Dubai, January 9, 2012
Just Falafel, a leading vegetarian fast food brand, which has a franchised operation with more than 300 paid-up agreements across the GCC and Levant, is planning a major international expansion for 2012.
It has grown from two storefronts in Abu Dhabi in 2007 to a franchised operation with more than 300 paid-up agreements in place across the GCC and Levant, and dynamic international expansion planned for 2012, a statement said.
Just Falafel in 2012 will have more than 25 operational outlets across the UAE selling handcrafted falafels, including prime locations in Mall of the Emirates, Dubai Mall, and Deira City Centre, it added.
“Just Falafel took the idea of a humble, regionally popular food, developed a number of international flavor varieties appealing to different palates, and is turning it into a global phenomenon through quality, value and service,” said Fadi Malas, CEO of Just Falafel.
“Potential franchise partners have recognized the success of the Just Falafel formula, and we’re currently seeing strong demand from the UK, India, and Canada – all of these markets are key growth destinations between 2012 – 2015.”
“By investing in our human capital, we’ve recorded our first-ever profitable year and Just Falafel’s objective is phenomenal growth over the next two calendar years so that we have the option of a public listing,” he added.
The company has recorded profits of more than Dh7 million ($1.9 million) for 2011 from a turnover of Dh2.6 million ($707,800) in 2010.
Malas’ team has secured additional paid franchises in Saudi Arabia, Qatar, Oman, India, UK, Lebanon, Jordan, and Kuwait.
The company plans to roll out a share option scheme which will see up to 20 per cent of the company’s shares being included in employment and franchise packages.
Franchisees will also receive a significant share allocation as part of their role in fulfilling Just Falafel’s human capital development plans.
“The UAE is our largest market at present, and our outlets in Enoc stations as well as at all major shopping mall food courts and in key residential areas will fuel Just Falafel’s growth here. Saudi Arabia, where we forecast around 100 outlets in the next three years, is a critical destination for us,” Malas said.
“New offices in London and expansion into India are also on the cards – we are receiving calls and emails daily from potential partners in both of those markets and others,” he concluded. – TradeArabia News Service