Saer Imad’s career journey is a story of evolution, resilience, and passion. From starting out as a banker in Lebanon to becoming a key player in Dubai’s thriving food and beverage (F&B) industry, Saer has learned invaluable lessons along the way. In a recent podcast, Saer shared insights into his early career, the transition to the F&B world, and how he has navigated challenges in building successful brands.
Background:
Saer Imad is a seasoned entrepreneur with over 23 years of experience in launching innovative businesses, capital raising, and strategic execution. Renowned for his turnaround strategies and corporate restructuring expertise, he focuses on driving long-term growth while maintaining high ethical standards and integrity. Saer’s diverse industry exposure and extensive network support his passion for excellence and innovation in business.
Saer, tell us about your early journey—where did it all begin?
Saer Imad: My journey started in Lebanon, where I grew up, studied, and began my career as a banker in corporate credit. I then had the opportunity to help open a bank in Nigeria, but my transition into working with entrepreneurs came when I moved to Dubai in 2003. I joined the Mohammed Bin Rashid Establishment for Young Business Leaders, a government agency supporting SMEs across
Could you elaborate on what kind of support you provided to them? Were you involved in the F&B sector from the start?
Saer Imad:I was more on the advisory side at first. We didn’t just give financial support; we provided hands-on assistance in developing business plans, conducting feasibility studies, setting up budgets and cash flows, and even helping with operational and commercial aspects like choosing locations and creating menus and even analyzing customer behavior. That’s where I learned a lot about the F&B industry. Later on, I become a hands-on operator at Almed Retail, where I could have more control and be accountable for the performance and success of our brands.
How different was it to transition from an advisor to a decision-maker?
Saer Imad: It was a huge shift. As an advisor, I thought I was giving the right advice, and that should be enough for success. But when you’re actually running the business, you realize how unpredictable the market can be and how many variables there are. I even looked back and realized that some of the advice I’d given in the past might not have been as effective in the real-world context.
Can you share an example where you learned an important lesson?
Saer Imad: Absolutely. One story that stays with me is about a woman who wanted to start a henna business. I didn’t think it would succeed—there were beauty salons everywhere offering henna services. But she insisted, and she eventually had 60 locations, franchised her business internationally, and made significant profits. It taught me that innovation doesn’t always mean creating something new. Sometimes, it’s about repositioning an existing product for a new market.
Let’s talk about your work at Almed Retail. How did you go about building F&B brands there?
Saer Imad: When I joined Almed, we focused on building a boutique F&B operator that owns, operates, and manages multiple brands. Our first acquisition was a small business called JJ Chicken. We rebranded, expanded, and developed it into a franchisable model, eventually opening 10 new locations in two years.
You mentioned franchising. How do you approach that aspect of the business?
Saer Imad: Franchising is a key growth strategy for us. We transformed JJ Chicken into a franchise-ready brand, setting up systems and processes that would allow for consistent quality and operations across multiple locations. Like, we introduced Indian dishes and added meat options to ensure variety. We even participated in exhibitions in India to explore new markets. Franchising allows us to scale while maintaining the essence of the brand.
What advice would you give to entrepreneurs looking to enter the F&B industry?
Saer Imad: The F&B industry is often seen as a quick way to make money, but that’s a misconception. It’s a detailed business with many moving parts—location, menu, customer experience, staffing—all of which need to be managed well. My advice is to start small, learn the intricacies, and be prepared to adapt. It’s not just about having a great concept; it’s about execution and resilience.
In addition to franchises, you’ve developed your own brand, Derwendi. How was that process?
Saer Imad: Creating Derwendi, a Lebanese restaurant, took a lot of time and effort. We focused on every detail, from the logo and menu to the interior design and tableware. We opened the first branch in Abu Dhabi and are about to open another in Dubai. This was a significant learning experience, and it’s rewarding to see it come to life.
You’ve been in this business for seven years now. What KPIs do you focus on when evaluating restaurant performance?
Saer Imad: The key KPIs for the F&B industry are the cost of goods, employee costs, and rent. In Dubai, rent should be between 15-18% of revenue, while employee costs, including salaries and additional expenses, should be around 20%. Cost of goods is critical—it should be around 22-24%. If it creeps higher, it starts eating into your profits.
Managing cost of goods is often a challenge. How do restaurant owners typically miscalculate it?
Saer Imad: Many entrepreneurs confuse profit and cash flow, which leads to problems. They often miscalculate the cost of goods sold due to issues with recipes or failing to account for the yield from raw materials. For instance, 100 kg of ingredients never gives you 100 kg of finished product. Over time, these small miscalculations add up and create a gap between theoretical and actual costs, which hurts your bottom line.
Even with your experience, what challenges do you still face running these brands?
Saer Imad: One of the biggest challenges is maintaining product consistency. For example, cooking chicken on charcoal, as we do at J.J. Chicken, is hard to control. Ensuring the same level of quality across different batches is tough. Another challenge is keeping the back-of-house staff motivated, especially in a fast-paced environment like Dubai, where they’re constantly tempted by better offers. Many of our staff are expatriates living away from their families, so it’s important to empathize with their situation and ensure they feel valued.
Why build your own brands like Derwendi instead of franchising global brands?
Saer Imad: We’ve experienced both options. Franchising is less effort upfront, but building your own brand pays off more in the long run. When you create a brand, you have full control and don’t have to worry about a franchise contract expiring or a brand not adapting to local tastes. Franchises can be successful elsewhere but fail here because they don’t cater to the local market. Owning your own brand offers more flexibility and long-term benefits.
Saer, you’ve been in the business for decades now. Let’s start with a brand example. You mentioned Joe & The Juice’s recent success. What do you attribute that success to?
Saer Imad: Joe & The Juice took their time to build brand awareness and brand equity before launching here. When they arrived, they didn’t have to rely on marketing campaigns because the brand’s name alone attracted people. The groundwork they laid internationally paid off locally as well.
Many people complain about micromanagement. What’s your view on that?
Saer Imad: I completely agree with the complaints. Micromanaging locks down a person’s potential. When you micromanage, you stifle creativity and innovation. If someone is waiting for constant direction, they lose the freedom to think outside the box and eventually stop contributing ideas.
But in repeatable processes, isn’t it beneficial to have a clear, set way of doing things without encouraging out-of-the-box thinking?
Saer Imad: Even in operations, things are rarely smooth. Each day is different, with new challenges. It’s crucial for employees to be empowered to think independently. Whether it’s a waiter managing a difficult customer or a cook adjusting to sudden changes, you can’t predict everything. Encouraging out-of-the-box thinking ensures the business remains adaptable.
How has your leadership style changed over the last decade?
Saer Imad: One of the biggest changes is how I perceive my team. I used to be more hands-on and skeptical, afraid of mistakes. Now, I trust my team’s capabilities and believe in their potential to contribute beyond their basic tasks. I focus more on providing the right training and tools and then stepping back to let them shine.
What’s your relationship with technology in the business world?
Saer Imad: Technology isn’t optional anymore. It’s a fundamental part of any industry, especially post-COVID. Before, we were more reactive, but now we are very active in integrating technology, especially with delivery services and AI tools. Technology helps us understand our customers better, analyze behavior, and streamline operations.
What are your future plans for JJ Chicken and other brands?
Saer Imad: We have an aggressive expansion plan for JJ Chicken and Derwendi. We’ve done studies in Saudi Arabia, the UK, and India, and all three markets hold great potential for different reasons. Each market has its own unique potential, and we’re adapting our strategy accordingly. Saudi Arabia has the highest per capita chicken consumption, the UK has gaps in the fast-casual market, and India has a significant chicken-eating population, despite being a largely vegetarian country. We’re excited to grow in these regions.
Saer Imad’s journey from corporate banking to leading successful F&B brands highlights the importance of adaptability, innovation, and resilience. Whether advising entrepreneurs or managing his own brands, Saer’s experiences show that long-term success requires both careful planning and flexibility. As he continues to expand his brands into new markets, Saer’s story serves as an inspiration to aspiring entrepreneurs looking to make their mark in the competitive world of food and beverage.
