Starting a mini supermarket in Meydan, Dubai, can be a great option for entrepreneurs who know the grocery trade inside out. Meydan is a centrally located neighbourhood, where thousands of people live, work and play. It is currently underserved by the supermarket and mini market sector, which means that launching your supermarket business in this district could give you a fantastic foothold into this affluent and thriving neighbourhood.
So, how do you go about starting a mini supermarket in Meydan, Dubai?
Benefits Of Starting A Mini Supermarket In Meydan, Dubai
Starting a mini supermarket in Meydan, Dubai benefits entrepreneurs who understand the grocery trade. Although the grocery sector is highly competitive, there is space for this sector to grow in Meydan.
Some of the benefits of starting a mini supermarket in Meydan
Large, under-served population: According to the most recent data, the population of the Nad Al Shibba First neighbourhood surrounding Meydan Free Zone is 6,056 people plus another ~7,000 in surrounding areas. There are also thousands more people who travel into Meydan Free Zone for work, travel and leisure. At the same time, however, there are just four or five mini supermarkets serving this entire population – so a well-targeted new grocery business could be very beneficial to the community.
Meydan is a destination: Not only is Meydan a wonderful place to live and work, but it is also a destination in itself. With the racecourse, golf course, hotels, and many other shopping amenities nearby, there is a good chance that many people would also like to do their food shopping in the neighbourhood.
Well connected for distribution: Meydan is located close to the centre of Dubai and major highways. This means that it will be quick and easy for you to receive deliveries from various warehouse distribution centres and wholesale companies around the city and the wider UAE.
Steps To Start A Mini Supermarket In Meydan, Dubai
- Select your business activity
- Choose A Trade Name For Your Business
- Choose Your Business Location
- Complete Your Application And Pay Fees
- Receive Your License And Open A Business Bank Account
The first step to launching your Meydan mini supermarket is to select your business activity. You can choose from thousands of business activities in Dubai, but for mini supermarkets, you will need to choose the Grocery License activity. Also, if you plan to sell any related goods, such as cosmetics, you will need the related license too.
Your trading name must clearly describe what your supermarket does (‘Meydan Stores’ may be seen as too vague, whereas ‘Meydan Mini Market’ would usually be fine). It would help if you were careful not to include any terms that could be considered offensive or potentially blasphemous. Also, the brand cannot involve any acronyms with your name.
Choosing a business location is vital in starting your mini supermarket business. Many companies choose to base themselves in the Meydan Free Zone because it offers a 0% tax rate and 100% foreign ownership. In addition, our location in Meydan means you’ll be able to run the store locally and minimise travel time.
We can advise you on starting a free zone-based mini supermarket at Meydan Free Zone and provide the help you need to make your business a success.
To receive your Grocery License in Meydan, you must complete your application form and provide a range of documents and paperwork. Paying the associated fees as part of your grocery license application is also essential.
Receiving your license to run a supermarket business in Meydan takes just a few days – so long as all your paperwork is in order and your application form and fees are all correct. At Meydan Free Zone, we can verify that all your paperwork meets the requirements and avoid any unnecessary admin errors.
Once your license has been approved, the final step is to open a business bank account so you can make and receive payments – Meydan Pay is our simple digital banking solution for businesses working in our free zone. It gives you an IBAN and digital wallet which comes with all the features you need to start making and receiving payments.
This five-step process to starting a grocery business in Meydan normally takes no more than a few days.
Cost Of A Meydan Mini Supermarket License
The cost of a mini supermarket license in Meydan, Dubai, will depend on the number of visas you are applying for as part of your application. If no visas are required, your license application can cost as little as AED 12,500. For up to six visas, it will cost AED 23,600. This figure includes your business license and associated fees.
For a quote tailored to your business and the number of visas you require, contact Meydan Free Zone today and we can give you a precise figure for how much your mini supermarket trading license will cost.
Why Meydan Free Zone?
If you would like to open a mini supermarket in Meydan, choosing Meydan Free Zone as your headquarters makes a lot of sense. You’ll be ideally located to provide groceries to the thousands of people living close to the free zone, as well as the many businesspeople who work here, tourists staying at the hotels, or people visiting the racecourse and golf course. What is more, you’ll get all the benefits of our free zone businesses:
- 0% tax
- 100% foreign ownership
- No share capital requirements
- 24/7 office facilities
- Exclusive community benefits
When you choose to base yourself at Meydan Free Zone, our highly experienced consultants can support you with all aspects of business setup in Dubai. This means you can focus on starting your mini supermarket business – and leave the paperwork to us.
We also provide several additional services that are very helpful to any company looking to launch a mini supermarket business in Meydan. For example, Meydan Pay provides you with a digital wallet and an IBAN, which allows you to make and receive payments – vital for purchasing wholesale and receiving in-store payments. Learn more about Meydan Pay here.
We also offer an Easy Payment Plan, which means you don’t need to pay the full up-front fee today – we offer easy instalment payment plans. Meydan allows customers to pay and upgrade the number of visas only when they needed. This saves entrepreneurs a lot of money.
With a clear opportunity for mini supermarket businesses in Meydan, now is an excellent time to launch a grocery business in Meydan, Dubai. Contact Meydan Free Zone today to begin the process of launching your exciting new grocery business!