Thank you for inviting me for podcast Wali bhai. Restaurant and kitchens are my career and I love this line. It was amazing to have spoken with you on the subject.
Wali bhai, one of the best videos. as a person who works in Dubai and has opened a restaurant on the side, i couldn't agree more with Samir. my comment is going to be long, but maybe someone will benefit from it. i am person who believes in running a business, but as an eldest son in the family, i had too many responsibilities to take a risk and had to start with a job. later, when my siblings were taken care of, i thought of three different businesses. construction, building material, and restaurant. i had a friend in construction, and he told me before i could go all in that i could use his license to get projects and work on it. that was not possible. yhen i had another friend in the building material business, and i used to sit in their shop after work. i learned that i need a very big investment and a huge inventory to even compete with the smaller building material shops as more than half the transactions were on credit. then i worked in a cafeteria and settled down for a cafeteria. i opened the cafeteria on the roadside with lots of parking and very near to where i reside. but the biggest mistake i made was hiring the wrong staff. second month, my chef wants to leave. within three months, the front of my cafeteria is closed due to road construction. this continued for another 8 months. the second year again, they started construction in winter months, and i lost another year. by the third year, i had staffing issues again. sales were down, and montly, i was losing close to 15k dirhams. it is the third year now, i continuously keep losing staff after they get trained. i am paying salaries on time. i have rented a good clean apartment and i . now i have finally managed to change my cafeteria into a restaurant( only got approvals on paper). need to hire a new set of staff. this is my last try. the only positive thing is that all this money that i have spent is going from my salary and not a loan. people might ask, why i dont let go after loosing so much money. i have learned a lot here now. if i start any other business, i will be starting from scratch . i have learned a bit about the people in that area, the kind of food they like. few other things. but beside having the right staff, the biggest challenge is that i am working, and i can not give enough time of my own. plus the market is very saturated and profit margins are laser thin. i had a 4.4 rating on talabat, yet i was not making any money from them. so my point is if anyone thinking of doing a restaurant business while working, it will be a huge challenge and you might loose money. i am already in it, and everyday i think this might work and that might work. most of things have not worked, very few things have worked. for a cafeteria in Ajman, till date i have lost nearly 500k(half a million dirhams)
@@kidzmania3933 shukria, I miss the good taste, I tried looking for them on map too, but traffic there isn't helpful. I will definitely go there this week
![FendiDa Rappa - Clock Dat ft. Shamar Marco [Official Music Video]](http://i.ytimg.com/vi/3NBU8KHdxYY/mqdefault.jpg)
Thank you for inviting me for podcast Wali bhai. Restaurant and kitchens are my career and I love this line. It was amazing to have spoken with you on the subject.
Thank you @Wali bhai and Sameer Sahab,
This podcast kept me engaged for it's entirety. Thanks for bring this guest over.
Wali bhai, one of the best videos. as a person who works in Dubai and has opened a restaurant on the side, i couldn't agree more with Samir. my comment is going to be long, but maybe someone will benefit from it. i am person who believes in running a business, but as an eldest son in the family, i had too many responsibilities to take a risk and had to start with a job. later, when my siblings were taken care of, i thought of three different businesses. construction, building material, and restaurant. i had a friend in construction, and he told me before i could go all in that i could use his license to get projects and work on it. that was not possible. yhen i had another friend in the building material business, and i used to sit in their shop after work. i learned that i need a very big investment and a huge inventory to even compete with the smaller building material shops as more than half the transactions were on credit. then i worked in a cafeteria and settled down for a cafeteria. i opened the cafeteria on the roadside with lots of parking and very near to where i reside. but the biggest mistake i made was hiring the wrong staff. second month, my chef wants to leave. within three months, the front of my cafeteria is closed due to road construction. this continued for another 8 months. the second year again, they started construction in winter months, and i lost another year. by the third year, i had staffing issues again. sales were down, and montly, i was losing close to 15k dirhams. it is the third year now, i continuously keep losing staff after they get trained. i am paying salaries on time. i have rented a good clean apartment and i . now i have finally managed to change my cafeteria into a restaurant( only got approvals on paper). need to hire a new set of staff. this is my last try. the only positive thing is that all this money that i have spent is going from my salary and not a loan. people might ask, why i dont let go after loosing so much money. i have learned a lot here now. if i start any other business, i will be starting from scratch . i have learned a bit about the people in that area, the kind of food they like. few other things. but beside having the right staff, the biggest challenge is that i am working, and i can not give enough time of my own. plus the market is very saturated and profit margins are laser thin. i had a 4.4 rating on talabat, yet i was not making any money from them. so my point is if anyone thinking of doing a restaurant business while working, it will be a huge challenge and you might loose money. i am already in it, and everyday i think this might work and that might work. most of things have not worked, very few things have worked. for a cafeteria in Ajman, till date i have lost nearly 500k(half a million dirhams)
😒😒😒😒😒😒😒😒
Super knowledgeable podcast
Good initiative Wali. Interviewing Indian expats might help many of us in planning our finances. Keep it up..!!
Iqbal hotel is still there…behind Pakistan Supermarket al barsha- 5 minutes from mall of emirates
@@kidzmania3933 shukria, I miss the good taste, I tried looking for them on map too, but traffic there isn't helpful.
I will definitely go there this week
Very Good insights
@@SaadZahidAwan thank you
Hello if a person have 2 crore Pakistani rupees where is the best place to invest it
If you are content with 5% to 5.5% return per year. Safest investment would be ibor-linked sukuk by national bond. Very safe and shariya compliant.
The best place to look for investment advice is RUclips comments section.
@@Ashraf-qy5dh😂