At the end of the year, reflecting and evaluating your goals and making resolutions can be helpful. It’s a great time to start planning and making crucial decisions if you plan to set up a new company in 2023. Opening a business in the UAE is simple, thanks to government initiatives making business easier. Global business owners have always prioritized investment in Dubai, United Arab Emirates.
If you have a small investment idea in mind, we will turn it into a whole concept.
This blog has compiled a list of the top 10 low-cost business ideas with high-profit potential in the UAE for 2023.
1. Auto Mechanic
You can start an automotive center in the UAE. It requires comparatively low investment and is a highly profitable business.
If you are a foreigner, you can outsource labor from your country. But they should be familiar with new cars. This business required some documents and licenses. You can make an agreement with the insurance companies; you can repair their accidental vehicles; it would be helpful for your business.
Following are the pros of starting an automotive center;
1. Flexibility
2. Little start-up costs required
3. Rewarding work
4. High margins
5. Control of workload
6. Experience and exposure
7. High Hourly Pay Rates
8. Various ways to make money
2. Laundry Shop
You can start a Laundry Shop because this business doesn’t require heavy investments, but it is a profitable business.
You need some licenses and approvals from local government departments. Keep in mind your location should be prime near residential areas or hotels. You can also make agreements with hotels.
Pros of laundry business are;
1. ROI is excellent
2. Multi-location and expansion potential
3. Inventories are minimal
4. Not seasonal or weather dependent
5. Employee management is minimal
6. Flexibility
3. Mobile Repairing Business
Today, cell phone repair is a booming business because of digital connectivity. The platform has become an excellent tool for showcasing your technical skills and earning a lucrative income. Since this multi-billion-dollar industry requires no high investment or experience, it is the best option if you are considering starting a cell phone repair business.
Trade licenses are required from the Department of Economic Development (DED). The next step after receiving your trade license is choosing a suitable location for your business. Additionally, you will need to purchase equipment and supplies for your business.
Pros of starting a mobile repairing business are;
1. Start-up costs are low
2. Potential income without limits
3. Customer retention rates are high
4. Managing workloads
5. Income potential is greater.
6. Wages are high
4. Saloon Business
Nowadays, due to social media, peoples are more conscious about their looks and image and more fashionable. So, it’s a perfect time to start a beauty salon, and UAE is the ideal place for this business. This business required a one-time investment- not heavy—consisting of haircare, skincare, and more.
Pros of saloon business are;
1. Greater income potential
2. Low investment
3. Simple business model
4. Flexibility
5. High customer retention rates
6. Control of workload
5. Scrap Business
According to GlobeNewswire, “As per the analysis, the Scrap Metal Recycling market is likely to grow above a CAGR of 7.20% between 2022 and 2028. The Scrap Metal Recycling market was worth around US$ 55.20 Million in 2021 and is estimated to hit approximately US$ 83.77 Million by 2028.” And UAE is among the top ten suppliers in the world.
So, it’s a good business with low investment. You need a warehouse, a vehicle, and licenses to start this business.
Pros of scrap metal business are;
1. Simple business model
2. Unlimited income potential
3. Little start-up costs required
4. High Hourly Pay Rates
5. Become an expert in your field
6. Tea Shop
As per Tea-riffic, “3 billion cups of tea are drunk daily worldwide”. Every other person is a tea lover. So, it’s an excellent business to start in UAE with low investment. The cost of the business consists of; Shop rent, a Sponsor fee, and a Trade license.
Starting a Tea Shop pros are;
1. Easy business model
2. Higher-income potential
3. Recession-proof & strong demand
4. Customer maintenance is low
5. Fast results and revenue
7. Baqala / Grocery
Baqala/ grocery store opening is also a good business. You can open your store near residential areas or in remote areas. You need several approvals and licenses to start this business, and you need the proper assistance of a corporate service provider Dubai. Profitability is high in this business.
Starting Baqala business benefits are;
1. Simple business model
2. Easy to Learn the Business
3. Availability of all the Goods of Daily Need
4. Availability of a Variety of Goods
5. Availability of Standard Goods
6. More Sells, More Profits
7. No Risk of Bad Debts
8. Wood Waste
You can start a Wood waste business. For this business, you need a license and a vehicle. You can collect wood waste or damaged pallets from the industrial areas and the factories; and repair them yourself or hire labor to repair and sell these pallets in the market. The investment is low, but the business is very profitable.
9. Fruit and Vegetable Supply Business
Starting a fruit and vegetable business at a small level is also a profitable business in UAE. For this business, you need a license and a vehicle. You can buy items from mina port and supply these to restaurants, cafeterias, hotels, and baqalas. It is an easy and profitable business.
10. Dry Fruit
Dry fruits are enjoyed by UAE ex-pats and locals alike. The demand for all kinds of food in the UAE is constantly growing due to better business and living conditions. Also, many people in the UAE spend a lot of money on imported dry fruits because of the high income per capita. Dry fruits easily survive for years in the UAE climate. So dry fruit business is the best to start.
How AIG Corporate Services Provider Will Help You?
To start any business in UAE, you need several licenses and proper assistance. As you need to start a business with a low investment and you don’t have a high investment, you need someone who guides you and helps you to start your business at an affordable price. So, AIG Corporate Services Provider will be the best choice. We have a team of experts who guide you in establishing your business.
Contact us today without any hesitation.
Some FAQS Related to profitable business ideas in Dubai:
Which type of business most profitable in Dubai?
Some of the most successful businesses in Dubai are in the real estate, tourism, and retail industries, but there are many other sectors that can also be profitable. It’s important for businesses to conduct thorough market research and analysis before starting operations in Dubai to determine the potential profitability of their particular industry.
Which small business is profitable in Dubai?
ome examples of small businesses that may be profitable in Dubai include a café or restaurant, a retail store, a consulting firm, or a travel agency. However, the most profitable small businesses in Dubai will depend on a number of factors, such as the market demand for the product or service, the competition, and the overall economic climate in the city. It’s important for any small business owner to conduct thorough market research and to carefully plan their business before launching it in Dubai.
What is the easiest business to start in Dubai?
The easiest business to start in Dubai will depend on a number of factors, including your skills, experience, and the amount of capital you have to invest. However, some businesses may be easier to start than others. For example, you could consider starting a small retail or food service business, or offering a service such as tutoring or consulting. You may also be able to find success with an online business, such as creating and selling a product or providing a service through a website. Ultimately, the easiest business to start in Dubai will depend on your unique circumstances and goals.
Related: Small Business Ideas in Dubai
