Johan du Plessis, founder of YourFitness.coach, says he invests only in what he can control. Pawan Singh / The National
Johan du Plessis, founder of YourFitness.coach, says he invests only in what he can control. Pawan Singh / The National
Johan du Plessis, founder of YourFitness.coach, says he invests only in what he can control. Pawan Singh / The National
Johan du Plessis, founder of YourFitness.coach, says he invests only in what he can control. Pawan Singh / The National

Money & Me: ‘I save so I can spend on meaningful things’


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Beating cancer steered Johan du Plessis’s life towards the fitness industry in South Africa and then Dubai, where he founded YourFitness.coach (YFC), a holistic app to revolutionise the connection between fitness and technology.

It went live this week with a mission to motivate people to become more active with services such as multi-gym brand access, personal trainers and an online training platform, with partners such as Apple Health and Les Mills.

Mr Du Plessis, 41, previously co-founded meal planning platform Mealzap after management roles with UFC Gym Dubai, Fitness First Middle East and Engine Health & Fitness.

He moved to Dubai 10 years ago with his wife. They have a seven-year-old son.

Was money a factor in your upbringing?

I come from an everyday family, mid-income. My dad works in traffic services, mum's a financial administrator.

My parents gave us everything we needed ... me and my sister. They tried to make us understand that whatever you need, you're going to have, but if there’s something you want, you have to do something extra to try and get it.

When I grew older and became a father myself, I realised what they tried to achieve; you learn value and appreciation for what you have and how to be frugal.

What was your route to earning cash?

My dad was always encouraging about doing extra chores around the house to get money.

Also, my grandfather was a farmer, so I would help around the farm and make a bit of money. I learnt about having to graft and accepting [that] sometimes you’re going to have a bad harvest, and it’s completely out of your control; you can do everything right and still not get the result you want.

Great lessons … it prepares you for when you grow older and have your own business, the notion of always keeping something for those bad years.

How did fitness lead you to UAE?

I was an active kid, did rugby, hockey, tennis and played cricket at provincial level until I tore both hamstrings.

I went into coaching, became a teacher and then learnt I had terminal cancer. They told me I had eight months to live … back in 2006.

When I beat cancer, I said: “I want to make it, but I want to make it big, to be able to do everything I want to do.”

This was a wake-up call. I had to change to something other than teaching. Sport and fitness I understood and enjoyed, so I gave this industry a go.

Within a year, I went from collecting leads for the sales team to becoming general manager for the biggest fitness club in the Western Cape.

I got an opportunity to come to Dubai and work for Fitness First. I realised quickly I would probably have better opportunities [here] to create a great life for me and my family.

What are your spending habits?

I’m probably a fair mix between saving and spending. I save so I can spend on what I want, rather than spending for the sake of it.

It’s essential for entrepreneurs to have a partner that can keep them grounded
Johan du Plessis,
founder, YourFitness.coach

I don’t buy lavish stuff, I don’t get lost in that [Dubai lifestyle]. Usually, it’s slightly more expensive, but I know I’m going to have it for a long time.

Many people you come across don’t want to spend; they try and save the entire time. You have to have that balance.

So, you buy quality over quantity?

I drive a Ford Mustang. It was an expensive car and I bought one because that’s what I wanted.

I’m a gamer as well, so I bought a 65-inch nano cell TV. I could have bought a normal 47 or 50-inch TV, but it’s not something I’m going to buy every day.

I buy things that have meaning rather than because it’s there to buy.

How are you growing wealth?

I invest in what I can control and the only thing I can control is my performance. I can’t control what Bitcoin is going to do, therefore I invest in myself.

YFC is a company we have to build; tech is expensive and the thing about an app is you’ve got to continue to develop it, update it.

Johan du Plessis says his best financial achievement to date is securing $1.2 million seed funding for his start-up. Pawan Singh / The National
Johan du Plessis says his best financial achievement to date is securing $1.2 million seed funding for his start-up. Pawan Singh / The National

Putting everything I have into this and making it work … I’ll make everything back that I’ve put in.

My wife, on the other side, is happy to back me, but she puts money into a retirement fund.

Do you have a cherished investment?

My wife’s wedding ring. Not because of what I paid for it, but what it represents, for how important she is in my life.

We make this really good couple [because] we have that balance. She’s very stable, works for Jumeirah [Group], takes care of her money, not a big spender.

In a way, that allows me the freedom to work for myself. It’s essential for entrepreneurs to have a partner who can keep them grounded.

When I started YFC, my income took a massive hit, but I’m very fortunate to have a wife who backs me.

Any key financial milestones?

My best financial achievement to date … that would be securing $1.2 million seed funding for YFC.

How do you feel about money?

My first instinct is, don’t chase the money, you don’t win from that.

People think money equals success, but it’s the opposite way; success equals money.

So, it's more that success makes me happy, because if you’re successful, you’ll have the money to be able to celebrate that success.

Are you wise with cash?

I think I am, but it’s subjective. It depends on what people see as a wasteful buy or a useful buy.

As a gamer, having a TV with good resolution and a nice-sized screen is an asset, whereas somebody else who just watches it for Netflix is not really interested in the capabilities.

I don’t have a lot of luxuries. I have my car, TV, my cell phone, a gaming laptop. Other than that, I don’t really spend on myself, I spend on what makes my wife and son happy.

Any financial regrets?

I’ve made some poor decisions, but I usually take the lesson from it and move on. It’s part and parcel of life.

Has the pandemic influenced your outlook?

It was the event that told me: “Now you’ve got to start backing yourself.”

With Covid-19, Engine closed, and I had to find something else. I had an opportunity to get involved in Mealzap as a co-founder, a great learning experience.

At the same time, I did consulting for gyms — gym rescues, renovations, helping them build up — and the more calls I seemed to get, that’s when I decided to make a platform where gyms and studios benefit, the user or member is also rewarded and the vendor that supplies this industry is involved.

What does the future hold?

I will never retire. My old age plan is YFC, I have no intentions of having it bought out.

I want this to be a $200 million company within six years. I’ve got my eye on this beautiful little house, a holiday home, just off the beach in South Africa.

That’ll be my guilty buy when I make my first big dividend.

Padmaavat

Director: Sanjay Leela Bhansali

Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh

3.5/5

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

BUNDESLIGA FIXTURES

Friday (UAE kick-off times)

Cologne v Hoffenheim (11.30pm)

Saturday

Hertha Berlin v RB Leipzig (6.30pm)

Schalke v Fortuna Dusseldof (6.30pm)

Mainz v Union Berlin (6.30pm)

Paderborn v Augsburg (6.30pm)

Bayern Munich v Borussia Dortmund (9.30pm)

Sunday

Borussia Monchengladbach v Werder Bremen (4.30pm)

Wolfsburg v Bayer Leverkusen (6.30pm)

SC Freiburg v Eintracht Frankfurt (9on)

'Saand Ki Aankh'

Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars

The Lost Letters of William Woolf
Helen Cullen, Graydon House 

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

UAE currency: the story behind the money in your pockets
Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;

- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,

- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Updated: August 12, 2022, 6:02 PM