Dubai offers businesses a great environment to thrive in, with opportunities for all types of entrepreneurs and companies, no matter how big or small. In fact, it’s considered as the financial hub of the United Arab Emirates, and a huge number of multinational organisations have maintained their presence in the city, including Aramex, Microsoft and more.
Also, Dubai is home to 1/3 of all Middle Eastern and North African investors, as well as 19 venture capitalists, the highest in the region. With the city’s abundance of resources, stellar tax regime, as well as its stable and healthy business climate, there’s a good chance that when you start your venture in Dubai, you will gain the traction and support you are targeting.
If you’ve been thinking of starting your own business in this city, but you’re still unsure which type of business to invest in, don’t worry. The following business opportunities in Dubai may just lead you to what you’re looking for.
Food and beverage
If you have a passion for food and crafting beverages, or you’ve been dreaming of owning the next biggest restaurant chain, then tapping into Dubai’s very inclusive F&B industry might be perfect for you.
This venture requires a little investment on your part, so if you are a conservative type of investor and don’t want to spend a huge initial capital, consider small business opportunities such as setting up a food truck, market stall or a cafeteria before branching out to a restaurant, a bar or a coffee shop.
Studies show that around 1/3 of residents in Dubai eat out on average at least 2-3 times a week, while 17% eat out or order takeaway every day. Furthermore, food and beverage sales are expected to have an average of compound growth rate of 6% until 2023.
The main drivers of growth in Dubai’s F&B industry are improving health awareness amongst consumers, the ease of access that online food platforms provide, as well as the increasingly diverse options available in the market.
Beauty and wellness
Another business opportunity that requires a not-so-hefty amount of investment are beauty salons and spas. This industry has many layers—from nail services, hair styling, waxing, massages and many others. The beauty and wellness industry is a niche market in most of the world and Dubai is no exception.
Data shows that the average salon in the city has an average profit margin of 8.2%, which is above the general business average of 7.7%.
In this type of business, you have to focus on expertise of your staff, the quality of service and the level of comfort you provide to your customers. For instance, establishing a beauty salon which provides cosmetologist services would require a highly qualified doctor with the appropriate professional education and experience.
Online business opportunities
The pandemic has forced a lot of businesses to go the digital route. While the global health crisis has limited face-to-face interactions, it has not hampered online opportunities in Dubai, specifically in retail.
Webpreneurs are on the rise, and there’s a vast arena for you to tap in Dubai’s online business market.
E-commerce, web development and internet marketing are amongst the most popular sectors for investments in Dubai as of now, a proof that the city continues to provide limitless opportunities for business owners. If you need inspiration, take a look at these online businesses that took off in Dubai: Careem, Namshi and Souq, which is now owned by global e-commerce giant, Amazon.
In addition, putting your business online will help you attract a bigger market, which could translate to higher revenues for your company. In fact, you can sell anything online right now — from your pre-loved clothes and furniture, to food, properties and workspaces. If you opt for this type of venture, it’s highly beneficial to incorporate social media marketing into your business to reach more potential customers, and to adapt to the rapid digitisation of the consumer sector.
In relation to the booming e-commerce sector, businesses need logistics companies to help them deliver products to their customers. Logistics companies are in demand because the boom in digital retail must translate to warehousing, international shipping and fast delivery for transactions to be successful.
Trade remains to be a core part of Dubai’s economy, with the city operating two of the region’s largest ports and one of the busiest air cargo hubs. As this city is well-connected by sea, land and air, it’s one of the best places to operate a freight or cargo business at the moment. The city already has a head start in the logistics game, but it’s never too late to join in. Dubai leads the UAE in terms of logistics, accounting for about 45% of the total share of the industry. This would be ideal for you if you have enough budget for investing in vehicles and manpower.
Seek Business Advice from the Experts
While we understand that some people prefer to try different types of businesses to test the waters, we want to help you get it right the first time around. This way, you can also make the most out of your investment, and get the earnings you are eyeing sooner than later.
ExpressPRO has experts who can discuss with you how you can maximise the best business opportunities in Dubai, and shortlist company setup options that would best suit your strengths, interests, financial situation and resources.