Dubai’s growing economy presents many opportunities for a Handyman Business. Dubai offers many advantages for foreign entrepreneurs like exemption from taxes, easy access to local currencies and much more. Therefore, serving as a full-time handyman here can be profitable, especially for those who are skilled in a vast range of repairs including cleaning, plumbing and more. However, it is important to understand the laws and regulations in your region to run your business successfully. Now let’s take a look at the steps involved in starting a business in Dubai.
How to register a handyman business in Dubai?
We know that the setting up of any company involves a handful of procedures; like obtaining a license, setting up office space and more. This is the same in the case of starting a handyman business in Dubai. It involves a small number of steps to set up your business.
With the right guidance, you can easily start this business effortlessly. Following are the necessary steps to be followed for setting up your handyman company in Dubai:
Naming your Company
Before you become eligible to officially register your business, you’ll need to decide on a business name for your handyman establishment. However, there are some naming conventions that you are supposed to undergo while naming your company in Dubai.
Such as, you should avoid offensive terms, abbreviations of your name, copying of other trade names while naming your company. Also, you have to keep in mind that this name is your potential client’s first impression of your business, so choose accordingly.
Create a Business Plan
The first and foremost step is to make a detailed business plan. This must include the services that you offer, the pricing, the description of business activity, amount of investment, number of employees and the things you want to achieve with your handyman business. You should also include the monetary and marketing planning and the vision and mission affidavits for your handyman company. Having a business plan will help your potential customers understand your motives and services. This can also help you in proving to the authorities that your business can survive and thrive throughout.
Know your Market and Competition
In this business, you will have a huge number of clients to choose from as most of them don’t have the right knowledge or time to perform maintenance and repair. Understand your customers and take your business seriously. You need to select your clients who need the expertise you can offer. This will help you focus and help to avoid any costly business practices that you don’t need to perform. With this proper insight and skills, you can expect considerable growth potential in this industry. The other aspect to know is that even if there are a lot of handyman businesses around your region, that doesn’t make your business go downhill. You will have a lot of opportunities to work with those customers who are rejected by your competitors due to their small work requests. Just bring out the best in you with different services matching your capabilities, you will be successful in no time. So, for that, you have to understand your competitors and their services.
Select a Location for your Company
Whereas, the Dubai Mainland limits you to own up to only 49% of the company and a UAE citizen will hold the remaining 51% of shares. Hence, it is often proposed to set up any business in one of Dubai’s free zones. Two of the main advantages of starting a business in the free zone is that it gives you 100% ownership and allows you to retain the entire revenue and profit from your business. Other than that, Dubai’s free zones offer a wide variety of benefits such as simple incorporation procedure, limited constraints on staff recruitment, zero tax on import and export, top quality infrastructure, utilities will be available for a lower rate.
In Dubai, the type of license obliged will vary depending on the jurisdiction you choose. Dubai proposes two different economic zones for foreign entrepreneurs who wish to start a business here. They are Dubai Free Zone and Dubai Mainland. Both economic zones offer you different proposals that can aid your business. So explore and decide on the one you want to set up your business and follow with the enrollment process. Again you will have to keep up with several requirements to obtain a license from these zones. Now, let’s take a look at the list of these requirements:
- You have to submit proof of reserved trade name
- Secondly, you have to submit the proof of the activities for the initial approval
- Next, you have to submit the copies of shareholders passport
- Then you have to submit a copy of the passport and CV of the manager you assigned
- Again, you have to submit a sheet of your personal information
- Lastly, you have to submit a copy of your Lease agreement
Open a Corporate Bank account
Last but not least, you are obliged to start an account in the corporate bank of Dubai. A commercial bank account will help keep your business’ finances insulated from your finances and assets. Most of the bank accounts require a minimum balance of at least AED 10,000.
What are the other aspects that can help you succeed with this business?
There are some aspects to consider before starting a handyman business in Dubai. This could help you enhance your business and reap success. The first thing is to get insurance for your company. Business insurance is an essential part of running all handyman services. Having one can protect you from lawsuits involving accidents and possession damage. Also, this can help you pay for any work-related illnesses or injuries your staff may encounter while on the duty. Next, are you exceptionally good at any particular task? Then turn your priority and effort mainly on these tasks that you can perform satisfactorily. Thus, you can easily earn a lot while admiring the work you prefer. Also, creating a website for your business will help you earn way more profit than you expect. Just list down the type of services that you offer, your contact information, and the specifics of your company.
If you bask working with your hands and assisting people, the handyman business is the best business to start in Dubai. However, in addition to being skilled and familiar with repairing, it is important for you to be organized, tolerant, and hold vital interpersonal abilities. Dubai is an excellent place to successfully start a handyman business. This blog offers you guidance regarding how to properly operate and register your business in Dubai. If you still have any doubts regarding the opening of the handyman company, please reach out to our business consultants to avoid turmoil.