Doha: Fitco Holding company has launched “Own Your Project” initiative for entrepreneurs and small investors, with guaranteed profitability through the launch of a series of specialised shops that sell detergents and its various tools.
The initiative is for entrepreneurs and small investors who want to enter the business sector either in the areas of small and medium enterprises. The initiative is based on providing all kinds of goods to shop owners who fulfill the requirements.
These requirements include commercial register, rent a shop up to 50 m 2 and above, the shop should equipped with shelves, air conditioning, and painting, at least one worker and one PC. Participants have to send their applications to ([email protected]), and will be contacted immediately with the required conditions.
Commenting on this initiative, Dr. Khalid Mohammed Al Buainain, Chairman of the Board of Directors of Fitco Holding Company, said that this initiative comes within the framework of responding to the directives of the leadership on the necessity of economic diversification and encouraging the local investment.
Also to support the entrepreneurs and encouraging Qatari youth who have hobbies and investment initiatives, he said. Al Buainain said that Fitco Holding company will provide all the participants in the initiative who meet the conditions, all the required goods, as well as provide them with some facilities such as providing design for the shelves,, bags and accounting program.
The obligations of those who are accepted in the initiative will be specified in the contract, and the most prominent of these obligations is to carry out a monthly inventory of the goods in the shops so that the participant in the initiative gets a guaranteed profit within 30percent of the value of the sold goods.
“The most important advantage of this initiative is that the participant doesn’t need a large amount of money to start this project. In spite of this, the expected return on capital will exceed 50 percent during the first year and will continue to increase during the subsequent years,” Al Buainain emphasized.
Regarding the motives for launching this investment initiative, Dr. Al Buainain said that the consumer and investment culture after the coronavirus pandemic differs compared to before, as hygiene tools, sterilizers, gloves and facemask have become part of daily life, which means that they have become basic materials in our daily consumer requirements.
Therefore we wanted to engage the Qatari youth in this promising investment sector and open new opportunities for high-income pioneers and small investors, and we hope that this initiative provides them with new and promising opportunities. The production capacity of the Fitco Detergent Factory is currently 30 tons per day, with the possibility of raising it to 60 tonnes according to market demands.
