In the past few decades, the UAE has developed a lot due to its growing economy. This is the best place for foreign investors because the UAE government offers multiple business opportunities to them. In recent days we have seen that the restaurant business is increasing over time in UAE, which seems much beneficial. Before starting a restaurant business in UAE you need to consider so many things, such as location, required finance, registration, and so on. It requires proper planning and paperwork.
Here we are sharing some important tips for starting a restaurant in UAE.
UAE is located on the Arabian Sea, which has almost 7 states. There are living more than 200 nationalities; that’s why it is important to find the right location for a restaurant. You need to pick those areas, where you are trying to give services. Another important factor that you may consider is free zone areas; you can start your restaurant business there and may enjoy plenty of benefits such as exemption from corporate and personal income tax etc.
Costs you should consider before starting a restaurant in UAE.
Before starting a restaurant business for Filipino food delivery in Abu Dhabi, you need to consider many things about cost such as:
- License fee
- Monthly rent
- Registration fee
- Staff training charges
- Capital costs
- Sponsor fees
- Accounting software
- Opening stock
- Insurance expenses
- Working capital
- Pieces of equipment
- Fire fighting certificates
There are more elements that we avoided such as lease value, still, the average cost of starting a restaurant takes almost from AED 500,000 to AED 1.25mn, and it depends on the size of the business.
- Do proper researches for opening a restaurant, if you have any area in your mind, make sure there is the target audience you are trying to get?
- Prepare a proper business plan with financial forecasts.
- Try to find an accountant of a specialized restaurant; he may help in financial forecasting.
- Make a proper marketing plan; even go for online advertising which can help to increase your monthly sale.
- Do not choose a real estate broker, because many brokers offer just 2 or 3 months grace period on the rent of the premises and also delays in getting permissions.
- Don’t put high prices on the menu you are offering.
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