Nitesh Seebran, 43, is co-founder and chief executive of Dubai-based affordable gym brand Metrofitt.
Mr Seebran began his fitness career in South Africa before becoming the recreation manager at a Kuwait hotel. During his 15 years in Dubai, he’s been area business manager for Fitness First and chief operating officer of Gold’s Gym.
Mr Seebran lives in Jumeirah Park, Dubai, with his wife, 10-year-old daughter and eight-year-old son.
How did your upbringing shape your attitude towards money?
I grew up in a very typical South African family. We had a roof over our head, food on the table. We went through a bad patch in that my dad owned a trucking business, which he lost at one stage. He recovered enough to provide for the family but not for the luxuries everybody would love to have. Going on vacation was a luxury for us. I never flew until my move to Kuwait and never concentrated on money in the sense of always looking where it is coming from, but once I started studying, I had to get a part-time job.
How much did you earn?
I was 17 and working as a cinema usher during college, taking home 3,000 South African rand a month (less than Dh800). Every pay cheque was a wow; I appreciated that I was able to earn. I wasn’t a spender. Having that job was more about providing for home, to help mum and dad.
It was hard work and I saved for the right things, to buy my first car. I’m still more of a saver than spender in many ways.
Why switch to the fitness sector?
There was a health club looking for membership consultants. I knew people in the position, so took a risk and 21 years later, here I am. I wasn’t big into body building but enjoyed keeping healthy. It wasn’t a field I thought I’d get into, but as a consultant you could earn fantastic commission, so I was putting in 12 hours a day.
The basic salary was 3,500 rand, but I was earning around four times that in commission. An opportunity came to go to Kuwait, I was 22 or 23 and left with my fiancée.
I think twice before I spend. I don't go for brands
What was the motivation for Metrofitt?
The most important thing for me was to create a brand that is not available. I knew what was needed because I’ve got years of experience in the Middle East; a world-class facility at an affordable rate. We are not a budget club, we are affordable fitness. We wanted to make sure we’re accessible to a larger population.
Were people seeking better-value gyms?
That’s the most important thing. It shouldn’t break the bank to become a member. Once upon a time in the UAE, you could only take membership if you paid the annual fee upfront. We don’t want to be targeting 10 per cent of the population, we want to give fitness and wellness to 95 per cent; the ones who don’t want to pay annually but can afford to pay monthly. And we’re not only attracting members earning on a lower scale, we’ve got chief executives, directors, all types. We took away the frills and you pay for what you use.
What is your attitude towards spending and saving?
I think twice before I spend. It’s not that I don’t. I like to spend on assets I know will grow for me, rather than buying a Dh10,000 pair of shoes that will sit in my drawer for a year. I don’t go for brands. I do things for myself, not because someone else is doing it. In our house, we have what we need.
Do you teach monetary values to your children?
We had to think twice before asking mum or dad if we could have something. I’m proud to say because of that upbringing, my kids understand the true value of money. They know we could afford what they’re asking for, but they’re not spoilt in that just because they’re asking for something, they will get it. They have to earn it by doing little jobs around the house. We give incentives, instill in them to do well in school and be kind to each other first.
How do you grow your money?
My dad always said, "When you get a chance to buy property, buy it" … the first advice he gave me from a financial point of view. So, I am buying properties whenever I can and I’ve recently started looking heavily into cryptocurrencies. I’ve got bonds in South Africa and shares in companies. I tend to have some liquid (cash). You never know what could happen from a job point of view.
And your best investments?
I’ve invested more in property in South Africa than the UAE and, touch wood, it’s worked to our advantage. I own the house we live in and an apartment. When I first moved to the UAE, we looked at living here for a long time, so said: "Why pay rent, let’s look at paying that towards our mortgage and have an asset instead."
What is your philosophy towards money?
It’s good to have, but it shouldn’t dictate the way you live. I am thankful the UAE has given us more than we expected. Forget the money side of it, it has given us family, has opened doors. But I always look to the future. My wife keeps telling me, "Live life today".
I agree, but you also need to understand what happened with Covid-19. We didn’t expect this, people have lost a lot. I’ve always had a Plan B. I learnt the hard way. If you don’t, you’re going to get stuck in the mud. I analyse my life and business on a daily basis.
Are you wise with money?
Everything is on paper to remind me what’s gone in, what’s gone out. I enjoy the good life, but I’m not driving the car I’ve always dreamt of. I tend to change cars quite often. I don’t go for expensive ones and I’ve always bought pre-owned cars and when I sold, never lost cash.
I do my homework on everything. It generally takes a month or two to finalise what I want and then I go for it.
What are you happiest spending on?
What really makes me happy is taking my family on vacation. That’s something I never grew up with. We save up, decide as a family where we’re going and have a good time.
How has the pandemic impacted Metrofitt?
After the lockdown, we lost members – because people were working from home, we didn’t tie them down, allowed them to cancel and we’re getting a good percentage of them coming back.
Our goal is to get to 10 clubs. We’re on five at the moment. We could have been on seven by the end of this year, but want to see how long this pandemic is going to last.
Do you plan for retirement?
I would love to retire when I’m 50, at an early age to enjoy my kids more, have enough assets to create a passive income. That’s the goal. I don’t think I’ll get there. Even if could afford it, I’d probably continue to work.
Key findings
- Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
- Eating one or two meals a day was associated with a relative decrease in BMI, compared with three meals. Snacks count as a meal. Likewise, participants who ate more than three meals a day experienced an increase in BMI: the more meals a day, the greater the increase.
- People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”.
- Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better.
- But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UAE currency: the story behind the money in your pockets
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Opening day UAE Premiership fixtures, Friday, September 22:
- Dubai Sports City Eagles v Dubai Exiles
- Dubai Hurricanes v Abu Dhabi Saracens
- Jebel Ali Dragons v Abu Dhabi Harlequins
Scoreline:
Everton 4
Richarlison 13'), Sigurdsson 28', Digne 56', Walcott 64'
Manchester United 0
Man of the match: Gylfi Sigurdsson (Everton)
MATCH INFO
Rugby World Cup (all times UAE)
Third-place play-off: New Zealand v Wales, Friday, 1pm
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
More on Yemen's civil war
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Defending champions
World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
Killing of Qassem Suleimani
THE BIO
Age: 33
Favourite quote: “If you’re going through hell, keep going” Winston Churchill
Favourite breed of dog: All of them. I can’t possibly pick a favourite.
Favourite place in the UAE: The Stray Dogs Centre in Umm Al Quwain. It sounds predictable, but it honestly is my favourite place to spend time. Surrounded by hundreds of dogs that love you - what could possibly be better than that?
Favourite colour: All the colours that dogs come in
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
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The%20BaaS%20ecosystem
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Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Napoleon
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