Restaurateur Sanjeev Nanda: “New business models are creating better revenue streams for restaurants”

As the pandemic situation gradually subsides and the UAE continues to bounce back, the hospitality sector in Dubai is also registering close to normal revenues. A major component in this speedy recovery of the sector lies with the unconventional business models that various restaurant business owners have come up with in the recent times.

One of such business owners is Dubai-based restaurateur Sanjeev Nanda, who is famed for his innovative restaurant concepts. He runs Miss Tess and is also the brain behind the uber luxurious Billionaire Mansion – both of which are nothing short of marvels when it comes to theme, ambience, and food.

During the pandemic and after, Sanjeev Nanda’s restaurants continued to serve guests in the most unconventional ways while maintaining the safety protocols. It would not be an exaggeration to say that many businesses followed suit, and are now generating revenues through different streams.

So, what does Sanjeev Nanda think about the recent innovations in the restaurant business with respect to business models? According to him, this is just the starting. “The pandemic forced us into a crisis that no one had seen ever. But the hospitality sector showed great resilience, and came up with new ways to overcome. But this is just the beginning,” he says.

“The pandemic also proved to be a disrupting factor to many sectors, especially hospitality. Desperate times need desperate measures, but no one had imagined the kind of innovative ideas people can come up with. From cloud kitchens to DIY food kits and more – the key players are putting great effort into ideation and it’s going to show in the coming years as well,” adds Sanjeev Nanda.

The change that has emerged in the hospitality sector, particularly in the restaurant businesses, is nothing short of phenomenal. But is it sustainable? Sanjeev Nanda gives a nod of agreement. “New business models are creating better revenue streams for restaurants. Diversification of business income is always a good idea, regardless of how uncertain the times are. It is a sustainable practice too,” he says.

Sanjeev Nanda explains further, “The consumer behaviour and preferences continue to change, now more than ever. Businesses need to evolve along with the world. Diverse revenue streams are sustainable since there it decreases the chances of running completely out of business.

Many businesses found themselves hanging by a thread when the pandemic struck. Creating more revenue streams through new business models can avoid such occurrences in the future.”