It turns out to be way fascinating when you think of starting a restaurant or cafeteria business. Maximum restaurant owners hold an assumption that by delivering the best dishes, they can increase the business revenue and generate profits. However, in reality, that’s not the only parameter that makes your business grow. This article presents the other domains that are important and are meant to be considered while starting a business in Dubai. By the end of this article, you will get clarity on how to implement these factors to accelerate your business. Keep reading.
1.Make Sure you Hold Required Capital
The first and foremost thing that you should hold in your hand is the minimum capital that you need to start your business with. Until and unless you have it, you can’t give a physical existence to your business ideas. Holding the required capital will satisfy your business needs in a hassle-free way, and helps you to carry out the fix and variable expenses to ensure smooth operations.
2.Be Updated Regarding the Rules and Regulations
Before you initiate the process of incorporating a restaurant business in Dubai, you need to make sure that you are well-versed with the set rules and regulations of the Government prevailing in the country. In Dubai, the business owners need to hold essential licenses for specific businesses to carry out the operational activities. Being ignorant regarding the process might turn out to be troublesome for your business.
3.Choose a Strategic Location
Well, most of the business owners fail to give importance to the location parameter. The location turns out to be one of the vital elements that guarantee your business success. If you end up opening a restaurant where you don’t have your target audience, you will end up making a loss. On the other way, starting a business where your target audience is located will help you to make enormous profits.
On the other front, it also depends on the capital that you hold. Dubai provides the business owners with several options like Mainland, Free Zone and Offshore, which you can choose accordingly to start your business accordingly. Each of the zones has got their the several benefits that they provide to the business owners and makes it hassle-free to establish their business ground.
4.Draft a Business Plan
Starting of a business without a proper plan turns out to be a half-way journey. To implement business activities without any hindrance, you should be clear regarding the goals that need to be met. So, it turns out to be utmost vital that you are clear regarding the business plan that needs to be carried out accordingly, to proceed with the business task.
5.Get Your Documents Handy
Well, it is essential to note that to start any business in any corner of the world, you need to submit respective documents to get approval. Make sure that you have all the essentials ready with you to initiate the process at a faster pace. Some of the documents include:
- Copy of Passport and Visa
- Application Fee
- Two Passport-sized Photos etc.
6.Obtain Food and Trading License
According to the stated rules and regulations in Dubai, every particular job in the region needs to hold a specific license that will allow the organization to carry out the activities in a legal way. Complying with legitimate actions will help your business to earn higher goodwill, which will be beneficial for your business.
In the case of the restaurant business, you need to obtain two types of licenses namely, Trade License and Food license, which will be issued by the respective Government authorities like Department of Economic Development (DED) and Food Safety Department in Dubai. In any case, if you plan to start a food truck business, then a food truck license needs to be obtained.
7.Attractive Interior Decoration
One of the significant attention-grabbing parameters in terms of the restaurant business is interior design. If you consider yourself as a customer, you will never visit a restaurant that seems to be untidy. A well-furnished and best-decorated restaurant will grab your attention at first sight. You need to make sure that the ambience of your restaurant is designed in such a way that it invites the audience itself.
8.Maintain Business Books
Once you start operating the business activities, you need to keep a proper track regarding the activities carried out, the expenses that you are occurring every time. These business books will help you to know the complete business scenario and will give a clear picture of the financial stability of the business.
9.Implement the Business Services
Filling up the books of accounts is not the only task that needs to be completed to carry out the business functions. The recorded transactions are to be analyzed accordingly to understand the in-depth details of the business expense, cash flow etc. Selecting a professional accountant turns out to be the perfect option as they are well-versed with the accounting services, and can help you to generate error-free accounting records.
10.Hire the Right People
In the business world, employees are regarded as the biggest asset of an organization. In terms of a restaurant business, every employee that you hire, be it the cook, or waiter, cashier etc. You need to make sure that the right person is placed at the right job to accelerate your business. If the interest of the employee mismatches with the job they need to perform, it would degrade the performance, and would ultimately hamper the business growth. To fetch in the best results, it is recommended to take the help of HR experts, to implement the HR tools and solutions while hiring the right candidate for your business.
11.Get an Annual Audit Done
To build on new business strategies, at first, you need to make sure that the internal processes carried out in the organization are streamlined. To start with, you need to implement the audit practices to figure out if any illegal practice is prevailing in the organization. The moment an auditor prepares an auditor, the findings needs to be implemented accordingly.
The aforementioned parameters are to be considered accordingly to cover all the possible aspects to start a restaurant business in Dubai. Once you include all the required parameters, your business can establish its mark in this competitive market, and ultimately, it becomes difficult for the competitors to copy at any point. Commitbiz Consultants is here to help you to give a kick-start to your restaurant business. We stand as one of the best business consultants in the UAE as our business experts do provide tailored solutions suiting your business needs. To have a word with our experts, do contact us today-we’d be glad to assist.