Setting Up Halal, Shariah Compliant Business In Singapore: FREE Seminars, Details Inside….

Wed, Dec 21, 2016

Miscellaneous

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, and then a specific %, recurring fee on the monthly SALES of the franchisee.

Regardless, the franchisee makes a profit or loss, franchisee has to pay franchisor money because the recurring fee is on the SALES amount before deduction of operating expenses.
That goes against the spirit of Islamic Finance. Profit and Loss Sharing.

For a shariah compliant franchise business model, the franchisor charges a one time fee, and then a specific %, recurring fee on the monthly PROFIT of the franchisee instead.
Other than the one time fee, franchisor never earns anything if the franchisee don’t make a profit.
So it is to the best interest that the franchisor really helps the franchisee makes a profit from the business.

We discussed many more details but the above is just the essence…
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Over the years, I have many people who asked, how to set up a business, the shariah compliant way in Singapore?

Is my marketing technique halal or haram?

What are the best practices to conduct business transactions in accordance to Quran and Sunnah of our beloved Prophet Muhammad (P.B.U.H)?

What are my roles as a Singaporean Muslim entrepreneur?

Many more business related questions… Usually I would refer to my esteemed friends. 🙂

Alhamdulillah… Today, I have good news to share with you.

SIM Malay Cultural & Muslim Society in conjunction with Takaful.sg would like to present to you a FREE seminar series,  *”Pillars of Entrepreneurship”* on this Saturday, 24th December 2016.

This event is FREE but only reserved for the 150 places. RSVP at mcms@mymail.sim.edu.sg.
Walk-ins are welcome too.

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See you around. Insya’Allah… 🙂

p.s. By the way, if you wish to discover a simple & halal way to create a positive monthly cashflow and calculate your net worth for FREE, then please click here…

 

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This post was written by:

- who has written 418 posts on The Official Helmi Hakim Website.

A certified financial consultant, Helmi Hakim has won praise for his patience, perseverance and practicality when solving his clients' financial concerns. For more information on how you can manage your finances better, contact Helmi Hakim at 96520134.

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