Ever wish you could get hardcore advice from a seasoned international entrepreneur? Sinan Khatib, who has lived, worked, and built startups around the world, distills it all down for you, now from Bahrain.
Would you mind telling us a bit about yourself and your background?
My name is Sinan Khatib. I lived most of my life in the west. 11 years of that was in New York City where I was a lawyer and banker before getting involved in the entrepreneurial scene. I now have a restaurant named Burrito Loco with two locations in Bahrain and one in Khobar. I’m also about to open up a new retail concept in Juffair named Noodle Box.
When did you begin your study of law?
I was 18 when I finished my undergrad at the University of Toronto. Shortly after I ended up on a bus on my way to New York City, a place I had never been to in my life. I was carrying one box that held all my life possessions. I didn’t know anybody in New York. Three days later law school started. I was just on a completely wild adventure.
I ended up practicing law for four or five years. I worked at a big international law firm handling clients like Lloyd’s of London and AIG. After a while, I thought there was more excitement happening in the banking field. I was recruited to work at a small investment bank where I focused on asset management work for VC-backed companies in Silicon Valley.
That was when?
This was around 2007 and 2008, right before the bad times. I began to meet lots of founders, CEOs, and venture capitalists who were working in the entrepreneurial game. The impression they gave me was Sinan, you’re on the wrong side of the table. You should be an entrepreneur. One thing lead to another and I got recruited to work at a venture-backed tech startup in New York. Then in 2010, friends started to ask me to move to the Middle East and join them as a founder with their startups. By 2011 my Arab world journey began.
Had you been to the Middle East before?
I had visited, but never for more than a few weeks.
What happened then?
I helped a friend launch a startup in Cairo. I spent a year there. The situation in Egypt was very complicated in 2011. Another friend said, “Try your luck in Saudi. I have some people you should meet there.”
Saudi Arabia was a very challenging place to be from a social standpoint. I later decided to come to Bahrain and try to manage my Saudi businesses from here. By the time I arrived, my experience level had gone up substantially and I found my Bahraini businesses became successful in their own right, and so I didn’t need to go back to Riyadh.
You had, as I understand, no attachments in Bahrain?
None. I arrived in Bahrain in mid-July, 2014 and opened up my first restaurant here 14 weeks later. I had visited Bahrain for two days prior to that. That was the extent of it.
Did you find any glaring differences between Bahrain and Riyadh?
The people are extremely friendly in Bahrain and their excellent reputation for having a good nature is warranted. Bahrain is also a very free place that is business friendly. I feel like Bahrain is closer to New York than to Riyadh.
Okay, and why not Dubai? From the outside, everything looks like it’s happening there.
Bahrain is inexpensive and easy to maneuver. Any mistakes you make in Dubai are very costly and the competition is fierce.
WHEN YOU HAVE A BUSINESS PARTNER YOU END UP DEALING WITH THIS PERSON MORE THAN ANYBODY IN THE WORLD, INCLUDING YOUR FAMILY. YOU’VE GOT TO HAVE UNQUESTIONABLE TRUST AND A UNIFIED VISION.
How was starting out here?
I found that Bahrain had a big foodie community. Food was an area with a big opportunity. You could do whatever you wanted, and really explore because people were hungry for new ideas. Nobody is against creativity or delicious food here. Food is a unifying element, an area where people find joy.
What were some of the challenges you faced starting your business here?
Every time you move to a new country there is a whole set of regulations and laws you need to be mindful of. Undoubtedly the first thing you need to know is how to get the right approvals from the right ministries in order to launch your business.
What was funding like here?
We utilized Tamkeen successfully for our first restaurant. Tamkeen is an incredible advantage provided by Bahrain. Now that we plan to use them a second time with Noodle Box, we have a much better sense of how to navigate their system. The first time it took us a very long time to understand how it works.
Is there anything like Tamkeen in the west?
No.
Why not?
I think they would be flooded if they opened such a program in the West. They would be inundated, just inundated. I was astonished to see that Tamkeen exists. Its mission is phenomenal. Its execution, I think, still has some kinks to iron out, but I do respect the challenges they face.
You mentioned your partner earlier. Can you tell us more?
Her name is Wejdan. She is a Saudi national who went to the London School of Economics. She was working at Deutsche Bank in Riyadh and I convinced her to leave her job to work with me. She agreed, and we have been building these businesses together ever since.
What’s good about having a business partner/co-founder?
I can’t imagine not having the opportunity to speak with somebody I respect about the problems I’m facing or not have someone with good sensibilities to help flush out ideas. If you are in an echo chamber, you don’t have a sounding board. It’s really easy to get carried away with bad ideas that you’re dreaming up in your head without a partner to set you straight.
What’s tricky about having a business partner?
When you have a business partner you end up dealing with this person more than anybody in the world, including your family. You might have moments where you’re getting on each other’s nerves. You’ve got to have unquestionable trust and a unified vision.
Noodle Box. Tell me more about it.
Providing food that is fresh, fast served, and reasonably priced, is an area that is under-serviced. More than anything, people want convenience, they want speed, they want a value-driven meal, and they want it to be nutritious and taste amazing. If you can hit those notes, that’s the future of food.
A GREAT IDEA, WITHOUT YOU ACTUALLY BEING GOOD AT EXECUTING IT—AND WITHOUT YOU ACTUALLY HAVING A MARKET THAT’S INTERESTED IN IT, IS A HOBBY.
Say I walk into Noodle Box. What am I getting, and how?
First you choose noodles or rice. We make our noodles from scratch in house. Almost no one is willing to invest in that effort. Second you pick your protein, beef, shrimp or chicken. Third you select your toppings—various types of fresh vegetables and toppings—and lastly you pick from one of our homemade sauces. Our staff will then do a live stir-fry on our wok burner, and then we put it into a noodle box. You’ll be getting a fresh, piping-hot meal within five to ten minutes.
Do you think this is where the food industry is heading? Toward greater awareness of nutritious food?
Yes. If I’m going to put food in my mouth, I want to make sure that it’s made from actual real things that are nutritious, not things that are harmful to me. This is why both Burrito Loco and Noodle Box are deeply committed to using the best ingredients we can find and always pushing towards fresh options. We want to sell food with integrity.
Perfect. Okay. You have your average Bahraini entrepreneur, about to start something they love to do, and you have two minutes with that person. What would you tell them?
A great idea, without you actually being good at executing it—and without you actually having a market that’s interested in it, is a hobby. Translate your hobbies into businesses by making sure the thing you’re passionate about is something that is commercially viable and relevant to the community you are selling into.
That doesn’t mean that the market will always be 100% immediately ready for what youre offering. You might be a bit of a pioneer, but make sure you’re within reach of the people who you are targeting.
Thanks so much for this.
Thank you.