The handicraft industry is considered one of the flourishing businesses in Dubai. There isn’t a need to think twice before starting your handicraft career here. This is an incredible business that can help you earn a lot of profits. Setting up a small business in Dubai is thriving day by day because of their demand and popularity among the people. For example, the demand for handmade antique and cultural artifacts that are made out of bamboo, glass and mud alone depicts its market across the globe. Thus, the handicraft industry markets a vast number of items. This can be made by just bare hands as well as with machinery. Also one of the greatest advantages of this business is that you are able to showcase your creativity & innovation, unlike any other business.
Now let’s look at the different steps to start off your handicraft business in Dubai.
What are the steps involved in starting a handicraft business in Dubai?
If you are planning to sell your crafts or turning your passion for crafting into a full-time business, here are the things to follow for setting up your craft business in Dubai.
Identify the scope in the market
Your crafting abilities can be used for creating a lot of unique products. But in order to run a crafting business successfully, one has to know the demands of consumers and bring up unique products accordingly. For this, you can just either focus on a particular product that you’ve already triumphed at. Or just go for a specific theme to connect the variety of products that you create. With this manner, you can curb the number of supplies you require and master your production promptly. Also, conduct thorough research and analysis of the market to learn about your competition and find the opportunities for your unique products.
Write a Business Plan
A business plan is considered as the roadmap to success. All craft businesses should create one to foresee problems and come up with solutions. You should write down a business plan to scheme out the ways to make your career in the handicraft business successful. An ideal business plan includes various elements that will help you set the business on track, delineate proposals for your craft business, and establish your value to any likely clients. Even though there isn’t any need to create a formal business plan, this would be essential for setting up a business retailing homemade crafts. This will be also helpful for doing your market research and forming marketing strategies.
Choose a Name
After successfully jotting down a business plan, next, you have to decide on a business name. The name must be more catchy, easy to remember and depict the sorts of products your business will be trading. However, before settling on a name you have to make sure that it abides by all the naming conventions that are imposed by the UAE government. Also, double-check to see if your selected name is already in use. Once the name is chosen, you have to reserve your business domain name to establish your brand.
Apply for License
The next step is to learn how to get a business license in Dubai. It is all about doing the paperwork, obtaining licenses and permits. This is an important aspect that is required for doing any business. You have to make sure that you have all the required licenses, permits, and insurance to start your craft business legally in Dubai. Or else you might end up paying a huge penalty or have to encounter legal trouble right after getting your craft business off the ground. Based on the location, layout, and type of business, the types of licenses you need will differ. Dubai proposes two types of zones for setting up any sort of businesses; Free Zone and Mainland. Both jurisdictions offer different services that can benefit your business. Choose the appropriate zone for starting off your business and apply for your trade license.
Documents required for setting up your handicraft business in Dubai:
- Completed application form
- Passport copy of the owner and partners
- Five Choices of Trade Name/company name
- NOC from an employer or current sponsor if UAE resident
What are the other factors to consider before setting up your handicraft business in Dubai?
Starting a handicraft business isn’t something that you just get up one day and choose to perform. If you want your craft business to be successful, there are a number of things to consider in the first place.
You can start selling your products in local shops before launching your own storefront and learn the interest of the people. Thus you will get an idea about what will bring you earnings. Subsequently, you can manufacture products of their choice and demand with reaping profit. Furthermore, you can create an e-commerce website to run your business more extensively across the region. Also, this will make it easier for your customers to find and purchase your products. You can also choose a digital marketplace rather than creating your own website. There are numerous great platforms like eBay, Amazon and more. Do proper research on which will be more matching with your needs.
Starting a Handicraft Business will allow you to leverage your passion and turn it into something that makes money. Add the right sales methods into the blend, you’ll be running a successful business in no time. Once you’ve built an idea and plan for your business and you find a market out there that is willing to pay for your products, then you’re already halfway there. Business registration in Dubai is simple and straightforward. With the right assistance, the process can be completed in just over one week.