Qatar - Best place to get Rich!
I have been in Qatar for a long time now and I realized it only now that this place is full of business opportunities and money is out there in the open to just grab and pocket. Right from a contracting and trading to opening up a restaurant the barrier to entry is so low that you can almost start a business tomorrow if you have a sponsor and the initial capital.
I wish the government could come up with some good schemes to support small businesses and allow people to move more freely through relaxed immigration laws.
Do you know of people from your circle of friends or relatives experiencing success in businesses? If yes, would you like to share their experience?
hbakr - Yes, restaurant business is a very demanding business just like any other retail businesses but the problem is the already high number of restaurants in Qatar.
UKeng - Yes I agree but I'am not interested in exploring that one ;)
The most profitable Business is the Oldest Business in the History of mankind, which is selling yourself!
BlueBull!!
thanks for the interesting topic. although I don't completely agree with all what's been said but anyway..
i noticed you like the restaurant business!? now i can admit that it's a rewarding business if done prepoerly but don't forget, you're not exactly in a metropolitan city, where you can pretty much do whatever it takes to make your restaurant stand out! lots of restrictions here..
another thing, the restaurant business needs ALOT of attention..you NEED to be on top of it day in and day out! not sure it's smth you would wanna do as a side business..dont forget inventories, perishables, etc..
i would agree with you on the contracting and trading bit though. With the right connections, you can make good money with minimal effort..
Does anyone own a restaurant here? How is it as a business with an investment of not more than half million QR?
Khanan and QS - What's the story? How did he become rich?
FS - Yes very true.
Khannan .. are you talking about me... sorry i was a little busy with my business :D
Business is not for everybody... only a good businessman will succeed in the business.. There are some people who got lots of money but don’t know what to start and there are some others who are over smart to make them invest in some business which they don’t know anything about and eventually the money is gone with the wind...
Yes, I know many people who started with very small business who are now multi millionaires...and own group of companies now..I am talking about Indian expats..who pay only agreed profit share to the sponsor, the rest is fully managed by themselves.
Always go for a business which you know in and out..and remember emotions/sentiments wont work in the business..:)
thank you Khanan.. :) and you do agree, he is unique :)
I am proud of him too and cite him an example!
Agree with FS! Buisness is not for everybody...
Many rags to riches and vice versa stories here in Qatar especially among Sub-contienental expat group.
Invested and paid heavy price or still paying :'(.
But hey that's life and you learn with every step you take...
I know one person... ;) I would call him "american dream in qatar".. he has gone from literally nothing to owning a multi-million business within 3-4 years.. but.. he is an exception..:) and I am proud of him!
BB. The right business AND the right business partner.
Good Morning - Maybe I'am generalizing a bit too much. I know of some businesses which are not doing well at all and people have lost a lot of money and life's savings in some cases.
It's all about choosing the right business to get into and then running it wisely.
ask LP !
agree with mandi
Doha Bank does provide it if you have seen the ads....
Star a business and see whether money is flowing in or flowing out
you forgot about the toilets in corniche, it's so basic but but they forgot about it,
.. It is not as easy as you think. Rich is a big word. Big difference between making a living and getting rich. The government are playing it smart. Controlling everything for as long as they could.
Ever thought why on all corniche there is only one restaurant that has a great location but lame food, pricing and atmosphere.
Have you ever heard the term "monopoly"? That's what Qatar is. No one is going to let in an unconnected player.
Mandi
Moti - You dont have to take that statement literally. Its a figure of speech. And how much I have filled is not a matter of discussion here.
BlueBully - still waitin to hear about that open plc. Btw...how much have u been able to fill so far??
I know someone, dream turned into a nightmare, don't forget you don't own most of the business, someone else does
i like the second paragraph,,,,But I dont need to do business here in Qatar I only need to work to be rich, Qatar maybe so boring but the salary is way high in here than any other country,
"money is out there in the open to just grab and pocket" wow...where exactly tell me Ill make sure to come with huge pockets.