Investing in client's future and helping with business contacts
hey guys i always tell this to my clients to my staff as well look we're not selling real estate we are choosing our clients to invest in the best real estate possible and in return they invest in real estate and we invest in their life and future let me show you a real life example show real fast all right guys welcome back so here's a client of mine we've known each other for four plus years i've got very good family terms with him as well and it's been his dream to move out from a very successful thriving lighting business in kenya and to start a business in dubai in the same field or anything similar so we're at that stage where he's almost ready to sign up a retail showroom get some uh you know he's ready now right because he's been planning for this for four years sometimes it doesn't take four years to plan but he's been doing this for a while and he's made several trips in dubai now he's about ready to sign up on a retail space in dubai and as you know that location is super important now i am in a very nice showroom uh they don't sell lighting but they sell tiles on sheikh zayed or sheik zion road is the main hub or the main business artery of dubai there's other areas in dubai that have developed but jigsaw for the last 20 25 years has been like the main artery and this is the let's say the newer part of sheikh zayed road that has come up and you know each part has its own unique usps offered so this area there's a lot of tile showroom the gentleman who runs and owns this showroom uh it's called bianca and bianco he's you know somebody i've known from a long time uh again four or five years he's he was big and still is big in real estate has a retail background used to own jian and so on so forth and i thought you know what what better way to have my client my friend meet him for a quick 15 20 minute chat so that they can you know technically speaking kind of like pick the brain of this gentleman his name is iac and you're gonna listen into the actual conversation that takes place between them so that he can pick his brain and you know kind of like get some decent good genuine feedback from somebody who's running a similar retail showroom in dubai in the similar retail space i'm going to show you and give you a tour of the showroom as well and then you're going to also listen in to a conversation between two mature smart business people uh one of them is based in dubai for many many years the other uh he's you know based out of africa for many many years very smart both of them and he's looking to move into dubai and i hope this helps some of you ciao for now how are you please come come please so what happened is good good alhamdulillah he was saying first august or sunday but i gave him a quick brief on you yeah okay and i told him please one of the largest real estate companies in dubai i've known him yeah yeah obviously he's the ceo of a very big company a big team running big projects they've done uh i've known him for four or five years i worked on one of their projects so that i got to know him very very well very nice down to a gentleman uh real estate is their big big thing but they're doing a lot of tile business cannondale and they've got four or five showrooms canada mashallah one burlington this location this place how did you opt for heading this is yeah i go even in the background i told him about this yeah it's okay in nairobi i want to quit uh nairobi he knows okay because of the insecurity i'm doing very well in business there's uh nothing like that yeah but you want i i and i want to step a foot in dubai and i'm very at the moment uh confused and [ __ ] up i was saying you've got to meet this guy who has started this no i ask him he is i think he's been too generous in uh putting uh i learned a lot more today from his background he was very kind to say father he didn't ask me you know what do you want out of the meaty man come here confused i i see a lot of showrooms closed down as well it doesn't make sense like yesterday whenever you buy the furniture yeah i i bought it from uh old brother a lot but you know what confused me and so so many showrooms being closed wherever i go there's so much of how would i say inventory in the market it doesn't make sense to me you know see i i would i would really say that dubai because the entry is very easy so everyone opens it yeah they don't have a build they don't have a business plan to it yeah for example i'm i have opened this business yeah to bleed for two years yeah yeah you know because that's a part of business uh plan yeah that you will not make money day one you're not going to make money in days you know yeah so you have to be patient the problem is in dubai because the entry level is so easy people who come with little money they want to start business and they don't know in the end you know your business and i've been knowing my business yeah i'm saying exactly it's all inventory business inventory management yeah stockholding yeah and the quality yeah well i have seen your attach your own excellent calling i'm just like today i have everyone is bigger than me in this business yeah yeah so i know that okay you know i have to go through my uh you know is this the same brand in canada bianca you know okay a very nice name okay how did you decide on xixa this location shake that location because obviously you have to see where the market is and don't try to be away from the market so there is there is there used to be a market yes it's no it's no more a market five seven years back people are struggling now even the opposite side is doing very well yes yes yes that's right you know because it just has to get mature yeah yeah so right now it has it'll become mature both sides become mature yeah yeah so i would say shake that is the location okay okay but there is a light market even on the uh that lulu road what is that road they also came road the particular road people can give you both opinions that is not good there's no i think there are two good locations yeah if i want to think of light i would think of that road as one of the roads that's we i have that rod in mind yeah yeah yeah so that road is one road because it has already created the market now yeah yeah yeah people even think of it they know that okay that road is there that road or this side of the road okay because you see generally people want that when they're there they just don't want to visit one shop so we have we have like 32 showrooms yeah yeah across uae yeah we are only interested in saudi yeah we make money yeah but when we see what making we real money we make yeah saudi is the market to it okay okay what i fight with uh our margins for 20 percent here i'll make 50 days and there's 30 million population which is non-movable population it's like so market is good here light business will do well because construction is over 30 years plus i know it inside out the way you have your connections i have my connections you name it in the forest any part of this thing yesterday i was at dragonmart again you know just looking at curtains and whatever again there are so many lighting showrooms in dragon ball now you know a thought came in my mind i don't know now you're into time you're here yeah that wouldn't people in dubai choose or like to go to dragon mud everybody can drive around so uh they do yeah but the clientele is very different so you have to be very clear with the audience you are targeting so my audience does not go to sharjah yeah the fact is i have some stock with the charger guys also have right right so you know in detail like how different your lighting could be yeah you have some brands yeah those are very special those are very specific to certain audience but your business will run for those brands i don't know yeah you know but you need to have generic stuff also yeah so your audience is very different okay uh decide you'll have rich affluent arabs you'll have europeans you know that i'll tell you like we are talking this whole week i've been doing research as well had caught my eye but i don't know where people are buyers there you know yeah yeah that bungalows are very boutique yeah but it's not a puller yeah yeah yeah you know there are few bungalows there are missing the parking is the problem yeah parking is a problem yeah yeah you have one million cars passing by yeah yeah yeah on shake that road every single day yeah yeah yeah you cannot deny that fact yeah you know so shakespeare or that road will be the two key locations yeah yeah and as far as your product you are the master of your product you know your chance you know what will move the fact is real estate is growing yeah so which is a direct indication to your uh that you know there is a demand there's a demand for projects and there's a demand for refurbishment yeah dubai is going to become bigger and bigger in refurbishment yeah because massive communities are getting matured or are ready for the uh refurbishment yeah the whole palm the whole jumeirah island the whole jumeirah park the whole meadows the whole lake the whole spring the whole arabian ranches the whole motor city the whole uh i don't know it's endless okay you know so everyone is due for uh refurbishing so today i am in thailand business for two years here yeah for me this business is new i haven't however just my so just my right now before my meeting with my manager was hire 10 guys sales yeah or to go out and look for the market okay so i took a conservative approach because kovit came i opened in jan 2020. that's what i was just thinking 2020 i had the most challenging time of my life yeah because of the last chance yeah i opened in january and march i closed lockdown yeah lockdown i like i was trying to build relationship with suppliers because i was never in this business yeah yeah so for me the whole setup was new yeah i knew real estate very well but i didn't know okay you know industry and there are gurus sitting here you know the aspas afghan neighbors getting the big guys okay yeah but it's fun fun of course competition is good for me the good thing is for me everything is a growth for them they could lose share but i can only gain because i'm starting from zero yeah so i look at it again i want to capture five percent of the market the next three years yeah and i control my cost in the end people just don't look at get carried away with business but in the end you have to make money so marshall yeah okay you know your thing is like mine but i'm wearing the first two years i i know even once i'm here i'm not going to make any money but you know i'll sustain myself you know and i just even in nairobi sometimes i get very big big projects sometimes you know what it's your business but you know about it right you know the business you've been just getting our reputation and uh to get in our uh you're running your showrooms in kenya for many years now so you know when we acquired this canadian business the italian family was running for 17 years 17 years and they were on one store vision because they were they didn't know that you know when the inventory crosses 90 days you have a red flag you cannot discount that you could not have a goal right you cannot have a good hope that you know it will go no it has to be discounted it has to be thrown out you know whether you sell at cost whether it has to move out inventory moving is our business four times everyone does it you know so i did my masters in retail so i i got a very good case study on zara gap was the best in terms of turning around inventory right okay you should turn around four times a year and generally if the supply and demand is 100 you'll produce 110 because it's t-shirts shorts you know zara reversed the whole psychology of inventory they said demand is under make 80. every time a new inventory comes it excites more than the whole inventory right right right you're right it's never about all inventory get rid of that so it was always you let the customer get this advice the stock is going because the new stock will excite more mashallah are you doing on uh social media variety marketing organization because now you're growing into this right yeah for the lighting social media i think instagram is one killer okay you have to be on digital background yeah of course you have to tie up with designers yeah so my my this business works a lot on designers they decide they want to put this they will tell the client go to the shop you specify your lighting so you have a lighting also you have an outdoor team and an indoor team yeah and you and one guy who just takes care of the designers there's this company called bloomer it's called bloom yeah the flower shop yeah yeah they've grown on social media and now they're taking a lot of showroom and festivals i saw their one shop i saw the second shop i saw the third shop but i didn't know they had two three shops yeah they have this uh moto city behind there's some imp said me yeah warehouse now three shops shop next to each other they're opening festival city in september all social media all social media and back-end work yeah of all my plans artificial shop comes from there only huh everything you see i told you about this place yeah yeah maybe she's she's ordering their stuff yeah how do you recruit yourself that the right stuff are the ones okay they can i keep getting wrong stuff uh then turns out to be either stupid or over spawned so like you know you can have ten donkeys and you have you know or you have two smart people yeah two smart people will will set your image right in the market yeah yeah yeah so people generally save money in terms of you know get lesser staff but get experience stuff if you are entering the buy buy out the competition team don't don't get your stuff okay they'll get your accounts okay they're getting 12 give them 14 because you will save one year time two years time of capturing the market the same ideas yeah you have to because the cost of uh two years is a lot yeah the cost of two years is your inventory your showroom rent your back end rent your warehouse right yes yes because it goes hand in hand showroom with yeah yeah i think it's interesting times to start now because we're just recovering from the panel anything to do with real estate will be good here okay yeah yeah so any product which is relevant to real estate in the way you are confident about your tiles i was selling part by this is the lighting we're doing in kenya i've seen a little bit in dubai that one store caught my eye because i told you on um i think that he's just opened up that i think two months ago but his lighting caught my eye you know i said oh my god but everybody else doesn't have what we are doing we can we cater for canadian europe standards it's very different kind of like you know i would this is smart as well but i'm seeing here right so i would recommend because you are the business i was not in this business so you know obviously you know a business in and out yeah social media will play a big part because i was i didn't know so i started i started very raw start what will happen let's see i'm you know your business very well yeah you have a lot of advantage you cannot avoid being in dubai and not having influencers designers who talk about you you get crazy oh my god dubai is a real show market okay we're talking about us one more question i would ask all crews i i i've been reading a lot on the internet there people are opening show rooms in us or not no they are it's becoming a has become a warehouse style urban you know warehouse very good if you get a good warehouse yeah and if you market yourself very well yeah you don't need shake that you don't need that yeah yeah okay so but you cannot be really inside yeah because you could be serious too the good customers won't come yeah so you could be let's say shake that facing you could be one line behind one lane behind yeah you cannot be five line lanes inside where people are taking u-turn left and right turn so just behind there are good warehouses and if you market yourself very well yeah people would love to come you know that gives a very different look big warehouse and you're seeing lighting it's very urban factory style you know you know you don't have to squeeze everything but would you recommend as a first showroom in dubai it all depends how we risk this brand into the social media open you see social media what you say right social media social media is big yeah yeah yeah and designers they're like you're surprised like his business these their designers so does mine you know today my seventy percent of the walk-ins are because of designers right they're recommending they're choosing and when they become comfortable they just send it yeah they just ask you to send this stuff masha'allah look greenway uh it's purely thank you so much you never know so you're in canada as well i'm in canada too but no not running a business i've got a very big family in canada they've been there since long oh yeah they migrated they love kenya he's chosen not to i was one of the defined ones says no i want to live in kenya but now i feel no i want my security it's and i want to be stable you know in one place i have had opportunities i was telling part by getting into franchise of coffee shops with greek guys here in dubai whatever but that's not my blood i say i can't get into that yeah you know with blood we are just having a discussion yesterday that all the billionaires like warren buffet or like anyone they they none of them have entered the ai yeah because they can they can buy they are better of buying out someone successful than doing it yeah then doing it yes because that's not their dna you have to have a different yesterday we were talking about you know we should enter e-commerce and we should do something listen we should but the mindset of even the invest private investment funds those who invest they have a different dna to look at because you have to believe 10 years yeah yes yes yes because if i go to my traditional investor you'll not understand listen five years you're bleeding yeah if you look at amazon bleeding for 13 years then this year they're declaring the first dollar of profit yeah so you have to be ready to bleed yeah yeah so the whole mindset and psyche is very different if i try to adopt i'll fail when looking at profit of two years it will not happen am i ready to give five six years of just pumping and pumping and pumping and pumping it so it's a different dna so we have to find a person who dna works like that and invest in that rather than be trying to become of that dna we don't have that dna okay so we're just debating yesterday you know within the family that you know someone should just get going with the ai and we should support them for 10 years yeah anything to do with id anything with a new technology platform it's a platform it could be service it could be product right right right so a new generation has to get into because if you're not then you're down the line it's a revolution in progress right you're right you're right so if i don't teach my kid he's what is not going to do anything in the shop can i ask you another question how your importation in dubai this is for my knowledge um i i do your problems with the customs are there certain quality standards to be met up with or it's it's you can bring in anything at least entire industry yeah so right now tell you it's going to a disruption yeah china you know the inventory the logistics are busy right now at night all of us we all know about it yeah so uh has introduced against india and china okay oh yeah okay so right now all the people who have like luckily i deal very less with india yeah yeah and not at all with jack okay okay so i deal with italian spanish turkish yeah yeah and whatever i want to buy from china yeah i buy sources locally or i have 100 confirm order obviously i don't have my uh what do you call chinese like to take 100 cash if you don't have a track record yes right so i need to build my two years yeah of business credit worthiness with them so bank to give insurance policy whatever the credit lines and everything so right but with italians i have managed to do in one year they started giving me credit a fireman will be shocked in nairobi at one minimum time okay we have to have stocking capacity of up to 3 million u.s dollars you know where we are successful when
people come we don't give them time same day next year next day delivered delivered to your place wherever you want we even take up projects we want to do installations you know which no i would be where at the moment in dubai i don't know whether i would get into installations i don't know so projects is anywhere you don't need to stock it it's for retailers you need to stop it retailers i've been into retail believe me into retail showrooms okay nairobi have any issues i was mentioning to you remember that we had 10 to 12 retail showrooms we cut them down because the staff were becoming too clever yeah you know they would know we would get our items i meant stuff you won't believe it hacked into the computer systems found out where we are buying in china for return to china but when you develop a very good relationship with the chinese people right which i have they are very loyal they will not go around looking for business from another person they'll say okay no but okay not that loyal but they know about buying capacities right you've been in dubai long time yeah born and raised yeah yeah when you were supposed to move to the mall you didn't move to the mall you gave shopping went to the mall yeah is the toy industry gone toys r us is gone right yeah out of market yeah they didn't yeah they didn't change toys are still selling but they don't go to the store to buy it that's why you failed yeah yeah yeah so you have to change like even thai they've been lighting lightning i think lightning my lighting will go faster according to me yeah online you mean online social media so let me tell you that there's a site called eberza yeah yeah yeah it's a turkish brand yeah yeah they operate from warehouse yeah and they have a fantastic uh website yeah yeah okay e-bars they have an app also okay i bought all my lighting from there okay okay it's very big they have a warehouse in uh between dubai and abu dhabi border wow what is it they've taken a massive warehouse and they operate from warehouses oh my god the description the description is outstanding i picked up all my stuff electricity a lighting from there yeah but why is this time you don't like what happens in nairobi there's a lot of online marketing yeah but a lot of people when it comes to lighting they want to come physically and see how the light looks they don't go by the pictures where we are at the advantage yeah okay when it comes to lighting yeah i i've seen in arabi again a lot of people have social media or whatever but they have to come and see their lines before buying it i i buy that i was one of the believers that people want to buy clothes they have to try they have to feel it changed the same thing like you're talking about i like this yeah you know it depends on the brand i started buying my kids started buying zara online so it's not about you know it's not about me it's about these guys because real estate was never bought by the young guys 10 years 20 years back today a 26 year old dream is to have a house a very stylish house yes and they are ready and prepared to go online yeah yeah hold on online right now pandemic they're boomed today property the guy are purchasing swiping their car sitting in denmark yeah we selling them what do you think of the business i'm telling you south koreans yeah they visited after they we would never imagine a relationship could be sold online a million dollar asset someone investing million dollars and not every year so any goods will increase the market share of e-commerce will increase yeah yeah it is the new platform oh thank you so you know the business but inshallah any any time i'll be in touch with you as well and it should have been me i appreciate it both the locations are good to me this means a lot both the locations are good i would say if you're going yeah go all out don't go half-hearted no i'm not going to go halfway you go all out dubai is a good place there is a lot of growth yeah there are a lot of people moving in there are troublesome countries like us india pakistan kenya kenya or the iran so it has the neighboring yeah which will keep coming world has very less choices it's not easy to go to canada you know that yeah you know it's not going to go anywhere the easiest to come is to dubai yeah we all know that we all know that all right no thank you so much thank you thank you once you move in here inshallah the four year project i have been for a long trust me ten people ask me this you know if i want to create a wall or i want to be there for people in dubai i'm going to just get things out i'm going to tell my wife about ibarza keep her busy for the next uh if i can look after you please so i hope you got something out of this meeting no idea some confidence yeah i did bye bye thank you so much you're welcome i appreciate you're welcome and definitely i will go for dubai inshallah inshallah okay any other questions he's available okay he can be direct with him all right give you his number talk to him the end and objective is for you to be comfortable yeah enough to make an informed decision to move forward okay great all right okay you take care of yourself okay it will be i'll be in touch and i look forward to hearing from you okay but you're the best thing that has happened to me thank you so much all right okay all right i love it take care all right take care okay guys so thanks for watching my name again is Fahd Dawood i've been doing this for 14 plus years i started in 2006 in toronto canada and since 2007 i've been doing this in dubai i generally talk about real estate your life my life and our path to allowing financial bliss coming to us if you want to work with me such as buy a property in dubai or you need general advice you can hit me up on the con in the contact form below if you've liked this video i'd appreciate if you subscribed press the bell icon and hit the like button and share it with other friends ciao for now i
2021-08-21 01:20
