Who hasn't fantasized about launching their own business at some point in their lives? It's a dream come true to be your own boss and lead a little startup down a difficult path to become a Fortune 500 firm or, as we do here in the Middle East, having it traded on Dubai's Stock Exchange. However, such undertakings should not be approached lightly. Even if you have the best idea in the world, perhaps something no one has ever thought of before, or a new approach to an existing food & beverage (F&B) concept that hasn't reached market saturation in the area, you will have to walk through the inevitable road of managing the project through the pains and sorrows of establishing a startup. Dubai is known for being one of the most business-friendly cities and markets in the world, as we've all heard. You can form a new company in a matter of days (which is true) but forming a corporation in the Department of Economic Development (DED) or any other government agency takes longer. This article will walk you through some of the project management issues that entrepreneurs may encounter while starting a new food and beverage firm.

How to start

Study of market

Even if your business is one of the rare self-financing scenarios that does not require outside money, you must conduct a feasibility study. Your concept rationale, profit channels, execution plan, brand positioning, and company description should all be detailed in a strong F&B conceptual development and feasibility study. Your capital budget should be listed in your feasibility study's financial section (including all details of rent, construction, equipment, professional services, organization development and all expenses up to pre-opening). In addition, the sales projections, personnel hierarchy, assumptions, profit & loss calculations, and break-even calculations should all be included in your feasibility study.

Hire an experienced F & B designer

This is true for any freshly developed restaurant in Dubai or anywhere else. But, in Dubai, this is a very important option to make because the city is rapidly becoming an architect's Disneyland. Sure, there are hundreds of interior designers who will claim to be able to create the ideal design for you. They might, but are their ideas feasible in a restaurant setting?

A good F&B restaurant designer will consider the restaurant's operations, try to eliminate waste, maximize the use of precious floor space (particularly in the kitchen), and be aware of any Dubai Municipality, Civil Defense, or other government restrictions that may affect the design. For example, the municipality requires that the preparation/kitchen area be 300 square feet or 40% of the overall area, whichever is greater—your designer should be aware of such requirements and hiring someone who hasn't worked in the field can backfire if this information is discovered too late!

Selection of suppliers and contractors

This is an area where you should devote a significant amount of time. Your project's suppliers will make or ruin it. Whether they're a fit-out contractor, a supplier of kitchen equipment, furniture, or a point-of-sale (POS) system, the sum of their contributions equals your restaurant's integrated finished product. Here are some pointers on how to approach your selection:

1. Make a list of pre-qualification requirements.
2. Consider what other options you have for lowering your costs.
3. Make use of technology to cut costs.
4. Pay attention to the small print. When dealing with fit-out and construction contractors, this is extremely vital.

Marketing

Although this bullet item has nothing to do with project management, it's a point that's easy to overlook when building a new F&B store in Dubai, the GCC's hospitality capital. Restaurants and food outlets are springing up all around the city on a daily basis. Only effective marketing and public relations can allow your restaurant's or brand's name to spread among potential customers. You'll be just another fish in the pond if you don't have a good marketing and public relations strategy. Given the importance of this issue, it's worth hiring a public relations and media consultant for three to six months to help you publicize your new brand.

Finally, we'd want to stress the necessity of thorough and intelligent planning. Starting a new F&B business in Dubai can be lucrative, but entrepreneurs must be aware of the dangers and hurdles they will face when attempting to turn their concept into a functioning restaurant. It's one thing to make the best cake in town. It's a very different matter to construct the café that offers that exquisite dessert!