Money & Me: ‘I started with a Dh1,000 salary in 2003 and aim to become a multi-millionaire’

Sunil Gidhwani, founder of Mega Meter Cleaning Services, grows his wealth by reinvesting profits into the business and investing in Indian stocks

Sunil Gidhwani, founder of Mega Meter Cleaning Services, says the Covid-19 pandemic taught him the importance a contingency strategy. Antonie Robertson / The National

Sunil Gidhwani’s wish to become an entrepreneur stemmed from his desire for independence and his ambition to create something meaningful.

He started his career in Dubai's retail industry in 2003. He later shifted to the banking sector, working at Barclays Bank from 2008 to 2009, and then moved into facilities management. He has worked for companies including Farnek Services, MAF Dalkia (now Enova) and Morganti Group.

In 2017, he capitalised on his experience in facilities management to venture into entrepreneurship, founding Mega Meter Cleaning Services. The Dubai company provides specialised services such as water tank cleaning and disinfection, air conditioning duct cleaning and sanitisation, kitchen exhaust system cleaning, pest control and commercial cleaning.

“Entrepreneurship offers the chance to pursue my vision, implement my ideas, and develop a work culture that reflects my values,” the 41-year-old says. “It was a leap of faith, but one that has been incredibly rewarding.”

Mr Gidhwani lives in Discovery Gardens, Dubai with his wife, children and parents. He graduated with a bachelor of commerce from Mumbai University and pursued a master's degree in facilities management from Heriot-Watt University, Dubai.

Did wealth feature in your childhood? What did you learn from it?

Wealth did have a presence in my childhood, but it was always viewed through the lens of responsibility rather than mere accumulation. My family emphasised the importance of financial literacy, teaching me about saving, investing and the value of hard work.

I learnt early on that wealth is not just about money; it’s about the resources and opportunities it can provide. This understanding has influenced my financial decisions and the way I approach wealth building. It instilled in me the importance of integrity and the idea that true wealth is achieved through ethical means and contributions to society.

How did you first earn? What did your first job pay?

My professional journey began in Dubai in 2003, when I secured my first job in retail as a sales executive with a salary of Dh1,000 ($272).

This initial experience taught me the value of earning and the dedication required to succeed in a competitive environment. It was a modest beginning, but it provided me with a crucial stepping stone to more significant opportunities.

Any early financial jolts?

Throughout my career, I have encountered several financial challenges, one of the most significant being during the Covid-19 pandemic. The sudden lockdowns and restrictions tested my business’s resilience, as revenues plummeted overnight.

I had to manage numerous financial obligations, including salaries, rents and ongoing expenses, all while maintaining a commitment to my employees. This period taught me invaluable lessons about financial planning, adaptability and the importance of having a contingency strategy in place. It was a stark reminder of the unpredictability of business and the necessity of being prepared for unforeseen challenges.

How do you grow your wealth?

My approach to growing wealth has been centred around strategic reinvestment. From the outset, I made the conscious decision not to take a salary from my company for the first two years. This choice allowed me to reinvest every available profit back into the business, facilitating expansion and the development of our service offerings.

Also, I actively invest in the Indian stock market. This diversification strategy, combined with seeking opportunities in areas that resonate with my expertise and values, has been key to building my wealth over time.

Are you a spender or a saver?

I would describe myself as a combination of both. While I recognise the importance of saving for the future, I also believe in the value of investing in experiences that enrich life. I prioritise financial security but also understand that spending on meaningful experiences – whether it’s family vacations, education, or personal development – can yield invaluable returns.

Early on in my journey, I invested in a business coach and engaged with networking platforms, which significantly helped me grow both personally and professionally.

Have you been wise with money?

I haven’t always made the wisest decisions. I have experienced setbacks due to poor investment choices and impulsive spending. However, each mistake has been a learning opportunity that has shaped my understanding of financial management. I’ve come to appreciate the importance of research and careful consideration before making financial decisions.

What has been your best investment?

My best investments have undoubtedly been in my business and my personal development. Establishing my business has been the most rewarding endeavour. My investment in my education has equipped me with the necessary skills to navigate challenges in the facilities management sector.

How do you feel about money?

I feel a sense of excitement and opportunity when it comes to money. It represents potential for growth, security, and the ability to create a positive impact. I view money as a tool that, when used wisely, can open doors to new experiences and opportunities for my family and myself.

My philosophy is that financial resources should be utilised not just for personal gain but also to uplift others and contribute to the community.

Any financial advice for your younger self?

Start investing early and prioritise financial education. Understanding the principles of investing, saving and budgeting from a young age can set the foundation for long-term financial success.

I also wish I had been bolder and more aware during conversations about emerging opportunities, like when my friends and I discussed crypto when it first emerged. Many of those discussions remained at the idea stage, and I would encourage myself to be more proactive in exploring those opportunities.

I would encourage my younger self to seek mentorship and learn from those with more experience in financial matters. The sooner one begins to build good financial habits, the more opportunities they will create for themselves in the future.

Any key financial milestones?

I started my company with just three technicians and one supervisor, and today the company boasts a workforce of more than 85 employees. This growth is a significant achievement. Additionally, reaching a point of financial stability that allows for reinvestment and growth has been crucial.

What luxuries are important to you?

To me, the most important luxuries are good health and a loving family. These elements are fundamental to a fulfilling life.

I am passionate about working out, as I believe that fitness is essential for overall well-being. Regular exercise not only keeps me physically healthy but also sharpens my mind, enabling me to tackle challenges with clarity and energy.

I also appreciate the luxury of experiences – travelling, learning, and creating memories with loved ones that enrich our lives.

What are your financial goals?

My financial goals are ambitious but attainable. I aim to become a multi-millionaire, which I believe is achievable through continued dedication to my business, strategic investments, and ongoing growth.

My vision is to position my company as a market leader, aiming to capture more than 50 per cent of the market share in the AC ducts and water tanks cleaning industry. I aspire to create a legacy that benefits my family and contributes positively to the community.