I just came back from Indonesia for holidays.
And had a good chat with a fellow Singaporean entrepreneur who recently set up his food business there. We had a good chat on shariah compliant franchise business model.
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Many of you might have known me, as the financial consultant that helps Muslim families plan their finance in a shariah compliant way in Singapore.
So. This time round, when I heard about shariah compliant franchise business model, I got very excited.
I began to ask questions.
“What is the difference between normal, conventional franchise business model and shariah compliant franchise business model?
What are the advantages and disadvantages of shariah compliant franchise business model?
How do you avoid riba, maysir and gharar in shariah compliant franchise business model?”
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I began to understand that under normal, conventional franchise business model, the franchisor charges a one time fee, ......