No, they're very good questions I've just been asked them a lot of times recently. I plan on selling this business in order to start the business that I'm passionate about. I've planned it quite meticulously for some time, but there was a last minute u-turn where we had to make last minute changes. I'm passionate about it because it's taking me where I want to go I suppose. The barber has experience running a barbershop, he's been a barber and minor shareholder for 5 years in Dubai taking care of suppliers, cash register, appointments, etc. We trust him, and I can tell he knows his stuff.
Are you asking whether to take the above loan, or use your own money? Can you pay back the loan early? If the answer is yes, I don't see any reason NOT to take the loan. Even if you don't want it, you take the $550k now, don't touch it, and just pay it back in 3 years. There's no risk and no cost at all, from the way you described it. If your business fails, you just pay back the loan with your own money - which you would spent anyway had you not taken the loan. What exactly is the argument against for using your own money instead?
I am just hear to wish you luck. Do incorporations work the same there as in the U.S. [protecting your personal assets]? [Question is asked purely out of ignorance] Considering you doing this in another country . . . I am unsure if advice based on an American System would be as valuable Rocket River I guess business is Business
Are there also official (therapeutic) massage places where the masseuses are female and the customers male in Dubai? If legal, that could be a great niche business, no? As far as I know, this doesn't exist in the big hotels, e.g. Hyatt.
Matty, Mathbar, Mathloom. It's me, Ronny. We go way back. We're like family here at Clutchfans - there's no need to hide information from us as long as you're not doing any shady business. Everything here is legal, right? On the grounds that this haircut business isn't a front for a black money laundering operation, have you included the following in your business plan to receive a loan: Established price points Understood market Measured market Marketing costs Figured out your costs (yes) Figured out volume Why your niche will work I know as a local Emirati (who supposedly isn't a Muslim) you're a shoe in for an easy loan, but the difference between successful businessmen and unsuccessful businessmen is measuring success and risk down to an accurate level. Leaving very little to chance. Even if your idea is generic and start up costs are high, you can make a profit with an efficient, well run business with fixed target points. So share, open up.
To be honest, I've been looking for an Emirati to be the Robin to my Batman. If you make me partner and allow me to have the final say in the business plan, I'll sink $200k into this.
A hair and nail shop for women is gold right now. I don't know of one women who doesn't sacrifice for their hair and nails. And opening a chain? I'd try to open one first.
Thanks! I'm trying to set up the corp in the dubai international financial centre, which is a roughly 100 acres of freezone which runs on a UK-based common law system (and its own independent court) when dealing with non-criminal law. It's set up by the Dubai government to accomodate those who want to operate in Dubai but in a Western business setting. Pretty cool idea.
How stupid of me not to mention this, they have to approve my business plan, but the hard part is done already (they're already on-board generally). I've also heard that you shouldn't trust the hands your business plan ends up in, and I haven't finished doing trademarks and copyrights for the shop. There's also always the watchful eye of the Dubai government, and you always have to treat them with kid gloves (ironic given that they're supporting small businesses and WE ARE THE SMALL BUSINESSES lol). Other than that, I agree with you. Might as well take it and keep the flexibility as long as I don't lose anything.
Yeah it's illegal but still happens everywhere except hotels. Hotels are always under a higher degree of scrutiny and surveillance because almost all liquor licenses are granted to hotels only. But other than that, yes, from what I see it works in Zurich for example, so I can't see why it wouldn't work out in Dubai for the same reasons.
Really? I can hook you up with a consultancy that pairs up people like you with appropriately experienced Emiratis who who are willing to sponsor businesses! I can't let you into this though lol, you have no expertise in the type of work we plan to do!
You joking? Arab world is packed with them. Arabs needs their kinky massages. Check out any nasty massage place on the streets of Bangkok, they're usually infested with Arabs who are obsessed with far east travel.
What I mean is LEGAL, THERAPEUTIC massage places where members of different genders can legally touch each other for therapeutic purposes.
