Israel has become a popular location for both families and businesses. Over the years, Israel’s economy has grown tremendously and has established itself as a competitor in the franchise industry. This article will discuss three reasons why you should develop your MBE brand in Israel.
First of all, the business sector in Israel is mainly made up of small to midsize enterprises. In 2017, the OECD Library reported that 99.5% of Israel’s businesses were SME’s, employing 100 employees or less. This makes Israel a prime choice for opening your very own MBE franchise. Having the business sector be predominantly SME’s provides you with a copious number of potential clients to provide your services to.
Along with Israel having many SMEs, Israel also has a widely used e-commerce market, having a revenue of over $5 billion in 2020. Ranking 34th in the world in the market, Israel contributed much to the overall worldwide growth of e-commerce in the past year. It is predicted that with the rise in e-commerce, there will continue to emerge new submarkets within the industry, further projecting its growth. Due to the Covid-19 pandemic, the e-commerce industry has grown significantly in the past year due to consumers ordering online remotely.
Lastly, Israel is one of the most commonly known countries for having expatriates. Because of this, countries that commonly host expats tend to have much diversity amongst their population. Israel is a popular place for expats because its economic power and wealth create many business opportunities. Having a business in a diverse country is very beneficial because it provides different cultural perspectives and interests. With that being said, Israel is a great place to develop your MBE franchise because of the wide variety of cultures in the country that not only boost business but drive innovation.
There are many reasons why you should start your franchise in Israel. The first reason being that Israel is currently and continuously increasing the number of SMEs. Having access to a wide range of SMEs around the country, your franchise will have hundreds of prospective customers that will be loyal to your MBE store. Additionally, the e-commerce market in Israel is on the rise and will continue to grow globally over the next few years. With the boom in e-commerce, your MBE franchise has the opportunity to provide services to its customers both in-person and remotely at home, expanding your network even further. Lastly, the substantial number of expatriates living in Israel will provide your store with customers from different backgrounds and cultures.
This will give your business many different perspectives and interests, which will help you grow your business and brand over time. Now, it is up to you to decide if you’re ready to join the MBE family and grow your business, starting in Israel.