A robust network of companies of all kinds operating in a variety of oddball industries can be found in the UAE. Every tech business worth a million dollars has a tenacious startup competing in a market that others may not have even thought of.
Take vending machines as an illustration. Even though they might not be the first business concept that comes to mind when you think of Dubai, many business owners in the region are earning respectable, usually passive, income.
Is running a vending machine business profitable?
Certainly, it is possible. If you do it well, a single machine may generate anywhere between tens and hundreds of dollars every day. However, where your machine is located and the products you stock will have a big impact on this.
It is advantageous to conduct study before making your initial purchase for this reason. Think about products that might be in high demand in particular areas. Water in hot outdoor settings or confectionary in locations like malls or transportation hubs could be a simple solution for this.
These are only a few examples, but there are countless other possibilities. There is a vending machine for almost anything, including gold bars and hand sanitizer (yes, really! ), sunscreen, and laptops. The same is true of the place. You can install a vending machine anywhere with power, including car showrooms, hospitals, apartment complexes, and hotels, provided you have the necessary permits. You can check out open a branch in Dubai for more information.
Dubai vending machine business startup procedures
As always, the best recommendation for launching any business in Dubai is to work with a local expert. Through the following processes, Creative Zone may offer guidance and advice while adjusting our services to meet your unique demands.
- Registering your company name
The selection and registration of your trade name is typically the first step in creating a UAE company. You should avoid choosing a name that could be interpreted as offensive or profane in the UAE. Additionally, be sure that no other organisations or businesses with the same name already exist.
To register, your name must also be accessible, therefore it’s a good idea to suggest a few alternatives in case your first pick is already taken. After you’ve selected your choice, we’ll register your trade name on your behalf.
- Choosing a setup and location
After choosing your business name, it’s time to decide what kind of enterprise you want to launch. Free zone and mainland are the two often used choices in the UAE. Anywhere in the UAE, you are free to establish a mainland business and conduct open trade with the regional market.
Businesses operating in free zones must do so from specified economic zones and conduct local market trade through an agent or distributor. You can get more information about the Freezone from the Freezone company setup.
Before recommending the solution that is best for you, the OnTime Biz will get to know your company’s requirements.
- Acquiring a business licence
It’s now time to complete the crucial step of applying for your vending machine licence. Depending on whether you are founding a business in a free zone or on the mainland, this process varies slightly.
The Department of Economic Development or a comparable municipality issues mainland licences. Free zone authorities are responsible for issuing free zone licences. In any scenario, we can oversee the application procedure on your behalf to guarantee a quick and simple application.
- Completing the visa process
In order to reside and work in the UAE, you will need a visa. We are once more available to assist you with this. Although a little more involved than applying for a licence, with the appropriate assistance, you may quickly get your visa stamped in your passport.
You will need to pass a medical and fitness test, a chest X-ray, and a blood test in order to get your visa. Once you are legally a resident of the UAE, you can sponsor the visas of your dependents, including your spouse, children, parents, and domestic help.
- Opening a bank account
Opening a corporate bank account will allow you to start making and receiving payments in the UAE and will be the last step before you may trade freely. For non-citizens of the GCC, this can be a difficult process, but the staff at OnTime Biz will make it simple by connecting you with the banks that are most likely to provide the services you need.