Sam Malkoun is the founder of Future Kids, an extra-curricular educational clinic in Dubai’s Knowledge Village for children aged from six months to six years. Mrs Malkoun, 29, launched the business last October after moving from her native Australia with her husband and three children. A serial entrepreneur, the Dubai resident became passionate about education after the birth of her first daughter, Laila, in 2008.
Describe your financial journey so far.
My understanding of the cost of living has changed. Before I started this business I was working from home and not so conscious of costs. But Dubai is a city where costs can be high. When we left Australia we sold our property and had to pay for our rent here upfront, as everyone does. We were prepared but it’s still a shock. My advice to anyone moving to Dubai is not to be overcome by the glitz and glamour and to continue doing what you would have done in your home country. When I arrived I spent the first six months in the malls and I hate shopping. I didn’t realise there was so much culture and other things to do in Dubai that I’ve since discovered.
Are you a spender or a saver?
I am not a money person by natural instinct. But since I started my own business I have become a saver. We still spend money, for example going out to restaurants and going to the theatre. Within my business, we are self-funded business and don’t have any investors. My understanding of business has changed. My passion is not numbers, it’s creativity. Previously, I would let my husband handle all the finance. My first six months I was paying staff with cheques as I didn’t have online banking set up. But now I have found it rewarding to value my time with my business financially. But I also value spending time with my three children and my lifestyle. When life moves so quickly you cannot miss out on spending time with your children.
Is money important to you?
We need money but I don’t think it’s a driving force behind anything I do. I’m driven by success. What drives me is when people respond to my programme. Seeing parents interact with their children is very rewarding. That inspires me.
If you won Dh1 million, what would you do with it?
I would probably put that towards paying my kids’ school fees for the next few years and reinvest some of it in my business. The money I make in business I reinvest into business so it would nice to have some of the pressure taken off.
What has been your biggest financial lesson?
When I was 17 I got a lot of money as a reward for something. But I didn’t use the money as I should have done and didn’t invest it. At the time I didn’t realise how much money could grow if you invest it in the right way. That experience taught me to use money wisely. It’s easy to think: “Oh, I only have Dh5, what can I do with that?” In fact, you can do a lot if you have the foresight.
What do you enjoy spending money on?
I enjoy spending money on health care. I’m all for getting a private yoga teacher to come to the house and also spend money on probiotic food. I also like furniture and I paint, so I like spending money on those things. We are planning a holiday away from Dubai in Greece or Mauritius during the summer. I also like spending money on trips with the family like time on a boat fishing.
tarnold@thenational.ae
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Fifa Club World Cup quarter-final
Esperance de Tunis 0
Al Ain 3 (Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
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Europa League group stage draw
Group A: Villarreal, Maccabi Tel Aviv, Astana, Slavia Prague.
Group B: Dynamo Kiev, Young Boys, Partizan Belgrade, Skenderbeu.
Group C: Sporting Braga, Ludogorets, Hoffenheim, Istanbul Basaksehir.
Group D: AC Milan, Austria Vienna , Rijeka, AEK Athens.
Group E: Lyon, Everton, Atalanta, Apollon Limassol.
Group F: FC Copenhagen, Lokomotiv Moscow, Sheriff Tiraspol, FC Zlin.
Group G: Vitoria Plzen, Steaua Bucarest, Hapoel Beer-Sheva, FC Lugano.
Group H: Arsenal, BATE Borisov, Cologne, Red Star Belgrade.
Group I: Salzburg, Marseille, Vitoria Guimaraes, Konyaspor.
Group J: Athletic Bilbao, Hertha Berlin, Zorya Luhansk, Ostersund.
Group K: Lazio, Nice, Zulte Waregem, Vitesse Arnhem.
Group L: Zenit St Petersburg, Real Sociedad, Rosenborg, Vardar
The 10 Questions
- Is there a God?
- How did it all begin?
- What is inside a black hole?
- Can we predict the future?
- Is time travel possible?
- Will we survive on Earth?
- Is there other intelligent life in the universe?
- Should we colonise space?
- Will artificial intelligence outsmart us?
- How do we shape the future?
What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
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How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Company%20Profile
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Killing of Qassem Suleimani
