Money & Me: Dubai entrepreneur makes millions helping struggling rich to pawn their watches
George Flo is not easily surprised, but even he was taken aback when a 22-year-old walked through the door of The Heritage Club clutching a watch worth half a million dollars and needing quick cash because he had burnt through his monthly allowance. “We never ask the question why you need the cash. It's not our business,” says the British-Cypriot entrepreneur who set up the Dubai-based…
George Flo, a British-Cypriot entrepreneur, has made millions by helping wealthy individuals pawn their luxury watches when they require immediate cash. The Heritage Club, a Dubai-based service he founded 10 months ago, offers high-net-worth clients the ability to release cash against their watches – ranging from Dh25,000 to Dh2.5 million – with a guarantee to purchase them back within 30 or 60 days.
The business currently manages over Dh20 million in client assets, and Flo personally reinvests all profits back into the company.
Flo's financial journey began during his childhood, where he questioned his father's pricing strategies and later discovered his father owed more on his house mortgage than he initially thought. His first job was cleaning dishes in a restaurant, and he later worked in telesales pitching leads for a window, door, and conservatory company.
After university, he transitioned into recruitment, eventually selling the business he had built. Overcoming financial challenges during his education, Flo now focuses on leveraging and borrowing to grow his wealth without relying on savings or traditional investments. He emphasizes the importance of surrounding himself with knowledgeable and successful individuals to gain valuable advice and perspective.
Written by urgent.news from The National UAE's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
