Akshay Dosaj is the managing director of Purple Honey Group, a company that creates and owns restaurant brands in the UAE. The British entrepreneur of Indian origin is behind popular restaurants such as Biryani Pot, Coriander, Zaytinya and Tamba. The 34-year-old currently lives in Abu Dhabi with his wife, four-year-old son, one-year-old daughter and their dog.
How did your upbringing shape your attitude towards money?
My mum and dad worked very hard to give us the best education that money can buy from a young age. I grew up realising the importance of hard work. I’ve also been brought up with the attitude that money is meaningless unless you have health, friends and family to enjoy it. Yes, you get to work hard to make money, but I’ve been brought up remembering the importance of being happy and healthy.
How much did you get paid for your first job?
Probably nothing, as I used to work for my father. I was 11 and my father had a number of little shops including a grocery shop or video shop. I used to go there to learn.
Are you spender or saver?
I enjoy spending on other people. I like to spend money on my wife, my family and kids, but not on myself. I don’t believe in saving money, but in investing it.
What is your most cherished purchase?
My first property. I bought a flat in London around four to five years ago. It made a good return. I bought it at a good time and a good price. I still own it today.
Where do you save your money?
In terms of savings, I have a mixture of fixed deposits, but I am a believer in assets. I’m a firm believer in the London property market in particular, or buying assets to make money with.
Do you prefer paying by credit card or in cash?
Credit card, so I can get air miles. I also don’t like having a big thick wallet. I like having a thin wallet. A credit card also helps me to keep track of what I spend.
What has been your best investment?
Genuinely, it will be my property. But, the best investment is a seven-week holiday I took with my wife. That paid dividends. We went to Kenya, Tanzania, Italy, the UK and the Maldives.
What do you most regret spending money on?
I love watches and I still do. The first watch I was very excited about it. I was looking at it every day. It wasn’t the same case for the second watch or my third watch and the other watches that I bought after that.
What financial advice would you offer your younger self?
Learn how to invest in the stock market, even at the age of 11 or 12. I will encourage my son to learn this as early as possible. It doesn’t have to be real money, there are some programmes that teach people about stocks and how the market works.
Do you have a plan for the future?
Yes, I have milestones. I certainly want to expand my business. I want our brands to expand in the region and also go global, especially Biryani Pot and Tamba. My dream is to see 20,000 Biryani Pots around the world.
If you won Dh1m, what would you do with it?
I would go on a family holiday. It would include my family, my sisters and my wife’s family. We would all go for a nice family holiday together. This will not take up the whole amount – the rest, as we are in Ramadan, I would give it to charity to people who need it, especially children in need.
What would you raid your savings account for?
I would like to one day own a beautiful house on the beach. I haven’t thought about anywhere in particular. But it would be nice to be in the south of Italy or the south of France.
selgazzar@thenational.ae
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