If you want to be successful, entrepreneurship and starting profitable business is the name of the game. Working for a company offers limited earning opportunities, although there are benefits like not having the added pressure of being on your own.
With the economy in a recovering mode, many savvy business people are looking to start their own profitable business in Dubai. By assessing the profit-making ability of small businesses in a variety of traditional industries, Dubai Chronicle’s Editor assembled a list of the 5 most profitable types of businesses. All the segments of Internet and business online are excluded, as these are in a category of their own. For additional information, you may consider reading the articles: “Top 5 Small Businesses to start in Dubai” and “Top 5 business models doomed to fail in Dubai“.
Here is a list of the 5 most-profitable small businesses in Dubai:
1. Dental Clinics
Dentists enjoy unique operating scale that allows them to handle several patients at once. Some of the equipment is expensive, but hygienists are not highly paid. Still a lot of customers in Dubai pay cash. That gives dentists more pricing power relative to other medical providers. You should not be surprised to learn that in Dubai a new tooth could cost you up to AED 8,000 ($2,200) in a private dental clinic.
2. Healthcare Clinics
Chiropractors, optometrists, podiatrists, physical therapists, speech therapists and mental health professionals know that it pays to specialize into a specific health fields. This is among the most profitable small to medium type of business and enjoys substantial success.
3. Law Firms
Lawyers and legal services enjoy high profits and success, not only in Dubai, but everywhere around the world. This is due to low overheads and because business tends to come through referrals, keeping marketing costs down. Repeat business is high, thanks to perceived “switching costs” of trading one lawyer for another. Odd that they aren’t higher on the list, given their high fees.
4. Specialized design services
This category includes graphic designers, interior designers and industrial designers. In a rich and ultra-modern city like Dubai, talent based skills are highly sought after. Clients pay top dollar for designers expertise and designer items.
5. Children’s Educational Services
As Dubai’s school systems continue to experience difficulties attracting qualified teachers, businesses that offer childrens’ supplemental educational services, workshops and holiday camps make huge profits. Their services, which are basically tutoring services, in Dubai are offered at a very high cost.