One of the thriving businesses in Dubai that have been spiking up every year in the restaurant business. During the past few years, the company has set a new ground for itself that has been attracting millions of foreign investors to come forward and invest. Ranging from a minimal investment to a higher side, an investor has got all possible flexibility to consider. According to research by Euromonitor International, there will be a count of more than 19,000 food outlets in Dubai by the end of 2019.
This widens the opportunity level for the individuals who are passionate about food and want to set up their business in the UAE. Are you one among them? Yes? Then, this guide will help you to understand the essentials to transform your dream into reality. Keep reading!
1.Acquire the Required Business License
The first and foremost task is to obtain the required business licenses that will allow you to perform the business operations legally. In Dubai, every business needs to hold a special license depending upon the business activities carried out. When it comes to the restaurant business, you need to obtain the Restaurant License from the Food and Safety Department. Additionally, you need to get a Trade License from the Department of Economic Development and Department of Tourism and Commerce Marketing.
While proceeding for this, you need to make sure that you have got all the required essentials that need to present in front of the Government Authorities. It might cost you AED 10,000 to 12,000 to obtain the same. Once you receive it, you are free to cook your signature dishes and start your business in the UAE.
2.Strategic Zone and Location
Now, imagine that you have set up a restaurant, but then there is no visitor. Sounds odd, right? Well, this can be the scenario if you don’t consider a proper location. When it is about the restaurant business, it is all about people. You need to select a strategic position to grab the right audience and flourish your business.
Another consideration that you need to look at is regarding the dedicated zones that Dubai provides. Multiple zones like Mainland, Free Zones and Offshore wherein each one of them offers various facilities. You need to identify the relevant zone for your business and choose one wisely.
3.Do the Research
Once you have initiated the business operations, you need to understand the market, the competitors and the target audience. Each competitor available in the market will be having a unique marketing strategy, and knowing such insights turns out to be fruitful for your business.
At the end of it, you will be able to come up with unique ideas in multiple grounds like marketing or branding, servicing your customers, the exterior and interior structure of your restaurant etc. Implementing unique insights will help you to grab more customers, and once you can position your brand in their mind, your business is bound to grow.
Also, you need to identify the suppliers with whom you will be dealing in terms of acquiring the raw materials from your business. Having a clear idea at the initial stage will help you to avoid unnecessary chaos while performing the operations.
4.Outline a Business Plan
After implementing the research process, make sure you draft an outline. It is essential that you consider all the crucial points while preparing one. Some of the areas that turn out to be a mandate are:
- Set your goals according to a specific duration
- Set a deadline to achieve the business break-even
- Best-utilization of the revenue generated at each point to accelerate your business
- Create an emergency fund that will help you to survive in the extreme case
- Build strategies to protect your business and brand
Once you follow the essentials mentioned above, you will be in a better position to run your business smoothly. By now, you must have got an idea that starting a restaurant business in Dubai turns out to be a tedious job, but that shouldn’t stop you from implementing it.
Moreover, the forthcoming Expo 2020, which is projected to attract 25 million visitors, is expected to pave multiple growth opportunities for the restaurant business. So, you can see that once you are done with the initial stage, you have a high ground of opportunities where you can set your foot.
Now, to carry out the set-up process in a hassle-free way, it is recommended to take the help of business consultants who will be your guide and will help you to carry out the incorporation activities. Commitbiz Consultants stands as one of the best business consultants who are dedicated to providing customized solutions to the esteemed clients. Our business experts are well-versed with the legal formalities and can help you to carry out the activities in a hassle-free way. If you hold any query or doubt, do contact us today-we’d be glad to assist.