Tahir Shah is the founder of a chain of restaurants “Moti Roti” famous in Dubai, succeeded in increasing his company’s profits by 300%, so how did he do it?
Get familiar with the Best Advice Tahir Shah has given to the owners of small businesses and new projects in Dubai.
When you start to establish a start-up company, most entrepreneurs turn to guidebooks and advice routine, but the construction company on the ground needs to be much more than that. It takes real practice and tips from people who have already succeeded in the formation of their company, and profiting them on the ground, after a great effort and perseverance.
To start with…
If you are interested in creating your own business in the food sector in Dubai, then you have to follow some of the following steps:
First, you must realize that it’s not easy, but possible:
To start your own business, you must provide enough capital money to cover the construction project costs, that amount may range between 500 to 800 thousand dirhams, a sufficient amount guarantees you the right to ownership of a small restaurant in good area to begin with, providing basic kitchen equipment’s for the restaurant, in addition to some chairs, tables, and other basics decorations. You should have “a contingency sum”, as you cannot guarantee that everything would happen as planned. Surely you will meet some of the obstacles that will require additional expenses.
Second: Test your product before it is put on the market:
Before you start your project officially and expand it, you have to be confident in the quality of your product, that is, you have to try it and find out the consumers view before putting your name in the local market. What to do? You can take the advantage of the opportunity being in Dubai, famous for embracing a lot of festivals and social events and an alarming number of people in different cultures and languages … and tastes too! Do not miss these gatherings. Go there and gather the views of people in your product, and begin to develop trust so that product is worth that displays the name of your project.
Third: Work Permit:
Regarding the work permit, you have two ways: either get it through the free zone, which is the fastest way, but the most expensive, or that you get the licensing business directly through the Department of Economic Development (DED) in Dubai, which is what you need to be a partner in the new project with the UAE national and it must have a partner share more than 50% of the total project.
In order to get any of the licenses, which may require six months to be completed, and nearly 40 thousand dirhams to its cost, you must:
i) – Submit a formal request that has all the details of cost, budget, and the name you chose for him to protect the right of
ownership of the business name, and address of the project, as well as personal information about you. We all know that the paperwork takes a lot of time and effort, and requires a lot of patience, too.
ii) – Open a bank account on behalf of your workplace, which will take about five days, if you already have a work permit.
Fourth: Choose your project intelligently:
Must understand very well about the nature of Dubai, and its inhabitants, it is the home to a lot of different traditions and cultures. Most Dubai residents prefer trendy places, such as in the major commercial centers that are live, and prefer the simple look and routine. If you want to create a fast-food restaurant, you should choose crowded places and perpetual motion, such as custom dining places in shopping malls, universities, parks, and others. It greets at least 200 visitors a day.
Fifth: The construction and implementation:
It is the most expensive and serious stage of all, from the above. The area is relatively acceptable for the new project in the range of 200 to 400 square feet, with an estimated construction cost of 700-800 thousand dirhams.
Be sure to visit the site before hiring a contractor, but also, accompany the contractor to the project site before the agreement as they already know and have experienced the obstacles before, which you might also experience in the construction of your project even if it did not pay attention to its existence previously, and they can prejudge whether the nature of the place fits your project or not. Seek the help of experts in this field.
The next step is the design of the project, which is presented to Dubai Municipality in order to show you all the amendments required in order to get a building consent. Once you get the approval, let the contractor begin his work and lay the foundations of your project, finish and put it in 3 months, so that it then becomes liable to pay rent to the landowner.
Tip: If you do not have sufficient funding at this stage which was adopted, find a partner that gives you a place to make your product, such as retailers, while the owners of the place gets a portion of the profits, to expand and be able to get your place.