Beehive funding opened 7 new branches

How did Al Naamani originate?

Founded in 1979, Al Naamani is one of the oldest tailor chains in the Sultanate of Oman. The business was established with the idea of providing men with elegant stylish garments to fit their requirements and trend.

How did you find Beehive and why did you choose them for funding?

While conducting market research for funding requirements, I came across Tamkeen on Ahli Bank’s website and was lucky enough to be directed to Mayan Al Asfoor, Beehive’s Oman Country Manager.

I will simply say we chose Beehive because of the smooth process. To my knowledge, there has been nothing like Beehive in Oman before. It is collateral-free financing and they do not ask for hundreds of unnecessary documents to get approved.

Where did you use the funds you raised on Beehive?

We used the funds to open seven more branches. Some of the funds were also invested in an automated laser-cutting machine to improve our factory’s automation, which has also improved production. Demands have kept coming in, so we also hired new tailors in the factory.

Did the pandemic affect your business?

As a non-essential business, we were affected the most as we were included in the lists of businesses the government instructed to shut down first. COVID-19 led to a massive shutdown of businesses which meant no revenue for a period of almost 2 years.

What are your business plans for the next 12 months?

Al Naamani intends on expanding its operation, further improving automation, and diversifying into other ventures.

What advice would you give to business owners considering funding?

Beehive is our first crowdfunding experience, and we would recommend it to any who requires
business financing. In fact, I have already started recommending Beehive to other SME owners. So just pay a visit to Beehive’s office, it will surely be worth it!