Off hours: F&B consultant says businesses survive by sticking to their core values

How leading one F&B business through the recession of 2008 taught Nicholas Couvaras the business lessons he needed set up his own consultancy.

Nicholas Couvaras is the founder and managing director of Kroma F&D management consulting. He lives in Dubai with his wife and two-year-old daughter. Ravindranath K / The National

Nicholas Couvaras is the founder and managing director of Kroma, a company offering food and beverage consulting and advisory services in the Middle East. Mr Couvaras, 37, has 15 years of experience and previously worked as the managing director of Ribs and Rumps in Dubai and as the head of marketing for Food Fund International. The Greek South African, who lives with his wife and two-year-old daughter, launched Kroma, in 2013.

How do you spend your weekend?

When I am launching a concept for a restaurant there’s not much of a weekend for me. However, when there is some down time, then I spend the weekend with family and catching up with friends. We’ll usually have a picnic on the beach or host or attend a braai. If I’m really lucky, I’ll sneak in a round of golf, assuming the weather is permitting.

How did you become an executive director?

Having worked for many years in the food and beverage space in the Middle East and abroad, we saw a gap in the market where investors wanted to get involved in the F&B space and needed help on how to execute their vision in terms of aspects such as the investment, building the right brand/concept, selecting the right location at the right rate, to hiring the right staff etc. In the beginning, we were nervous but luckily we secured some good clients to reassure us we’d made the right choice. We run a lean organisation where we partner up with trusted and reliable associates dependant on the project need.

What is your go-to gadget?

Besides my smartphone, it would have to be my golf 3D swing analyser. Attached to your wrist, the analyser is connected to your smartphone via bluetooth. It analyses your goal swing and gives you tips for improvement. I am still awaiting the results though.

What was the lowest point of your career?

When I arrived in the UAE in 2008. I had set-up a new business in a new market during the height of the recession. In my opinion, there’s no MBA or a degree that can teach you more than what I learnt during those times. Arriving “fresh off the boat”, I was the managing partner of Ribs and Rumps Middle East and we opened the first restaurant in Dubai Mall with the vision to expand into the rest of the GCC. In theory, it ticked all boxes. Practically, we were faced with many challenges – such as the mall having low midday traffic, intense global competitors with deeper pockets etc. We overcame these challenges by sticking to our core values – good food at a good price served by talented and enthusiastic staff, in a relaxed and comfortable environment. The reality is that a lot of the competition closed and we were able to survive the recession by sticking to those core elements.

What advice would you offer others starting out in your business?

Be agile, never say no to a client, and be able to pivot when necessary. As a new venture/start-up in the Middle East the barrier to entry is pretty high with trade license fees, rent and visa costs high compared to the rest of the world. So my advise is to try be flexible enough “to not say no” to any of your clients needs’, to gather as much traction and income within your first few years of operation to offset those costs. Funny story is that one of our first projects was to create a brochure for a security company. Today one of the directors wants to open up his own restaurant concept. There’s a pretty good chance we could be in the running.

What car do you drive?

A Jeep Cherokee at the moment.

What is your most indulgent habit?

I love to travel to new places with my family and entrench ourselves within the local communities, getting to know the ins and outs of a new country. For instance, I went with my wife to Brazil and Argentina; we stayed in boutique hotels and went where the locals go and not touristic places.

What do you have on your desk at work?

Pens, a designer drawing, coffee, a water bottle, my diary and my laptop.

What book are you currently reading?

Inside Coca-Cola: A CEO's Life Story of Building the World's Most Popular Brand by Neville Isdell and David Beasley. It is inspiring to see how the journey to becoming one of the greatest brands of all time started off with a doctor developing a cough syrup.

How do you achieve a work-life balance?

By trying to practice being in “the now”, by appreciating and focusing on what is happening around me. What also helps is having after-work activities such as the gym and touch rugby. They both help me to release stress and keep my mind fresh and focused.

If you could swap jobs with anyone who would it be and why?

Richard Branson, because he built an empire out of nothing and he is able to be a leader in a number of different industries and sectors, something I hope to achieve one day.

Follow The National's Business section on Twitter