While paying rent, utility bills, staff salaries, visas, service charges, % turnover to owners, it has become such a burden in the downturn that the only way out for those in trouble is to either lock up; or wait and hope that someone will come along and invest (or pay you to leave the premises), the second of which is even harder.
What we encourage at haus & haus Commercial is for our clients to look at the bigger picture. Covid-19 has killed off some of the deadwood, as well as some of the big operators – leaving an open door to irresistible offers, and potential upside in terms of market share.
Newcomers to the market, or even existing businesses have a real opportunity to gain growth in the industry by opening more outlets and weather the storm, which will ultimately hold a silver lining long term.
That is how we helped Mr. Can, a big name in the coffee industry with 23 small outlets in Dubai. How? With their yearly growth of 23 %, and a net profit revenue of around 30 %. They instantly saw the importance to become a bistro restaurant (with our expertise) and increase their offer, by finding them the perfect location to set up a business. The establishment will be earning large profits in the 2nd and 3rd year as his rental price was negotiated by ourselves.