The exotic car rental business is an excellent entrepreneurial opportunity if done right. However, it is not easy to start and run, as Ethan Duran, the CEO of Corsa Auto Rental, knows very well from experience.
Duran, 22, was born in the Dominican Republic and raised in New York. He studied at Seminole State College and got an Associate’s Degree in Business Administration. After graduation, he moved to Los Angeles, intending to work in the investment banking industry. While there, he stumbled upon exotic car rental by chance, and on seeing its potential, knew that it was what he was meant to be doing. He observed people who were already in the industry and knew that he could do better than them.
His love for cars and the motivation to be the best led him to start Corsa Auto Rental, an exotic car rental business based in Los Angeles. While it was not an easy job, Duran kept at it and eventually made USD 2,700,000 in his first year. Once he started, he had to work hard to differentiate himself from other luxury car rental companies and become the best. He says that the most formidable challenge after he started his business was sticking to it.
“Exotic car rentals, just like any other business, may pick up slowly in the beginning. This is where your determination is tested,” says Duran, who never gave up. “Having a list of daily tasks and sticking to them without any tangible results can be frustrating, but having the willpower to go through this and stick to your business is rewarding when things finally pick up, and you start earning money,” he says.
“To grow your business and brand in the luxury car rental business, you have to build trust with your clients. You have to be a responsible and trustworthy person; someone who people want to do business with.” continues Duran, who believed that treating his clients like family has helped his business grow. They easily relate to him and have built a relationship where they can always go to him for their luxury car needs.
Growing an idea into a million-dollar business is not an easy feat, and no one knows this better than Ethan Duran. His Corsa Auto Rentals is proof that with hard work and determination, anything is possible.