It is one thing to love cars, but another to transform that passion into a multi-million dollar exotic car rental business. Ethan Duran, the CEO of Corsa Auto Rental, was a young child who loved cars that grew up into an adult who owns a luxury car rental business. But how did he get there?
Duran was born in the Dominican Republic 22 years ago and was raised in New York. He attended Seminole State College, where he did his Associate’s Degree in Business Administration. He then moved to Los Angeles, intending to get into investment banking. When he saw the potential of the luxury car business there, he decided to pursue that instead. He looked around at the existing businesses and knew that he could do better than them, and thus, Corsa Auto Rental was born. This was not his first business; Duran started businesses and tried out different industries, from real estate to investment banking, since he was 18. However, the exotic car rental gave him what he aspired to have – a seven-figure income.
He made USD 2,700,000 in Corsa Auto Rental’s first year in operation, but Duran says it was not easy to get there. In that year, he spent most of his time in the business, working 18-hour days every day, including weekends. He barely saw his family for holidays, since he couldn’t afford to take a day off. All that sacrifice paid off when the business made millions at the end of the year.
He also had to work hard to establish a client base. Getting clients to trust your business is not easy, but Duran tries to develop cordial relationships with all his clients. This is useful, especially when you want them to be repeat customers since it will be easy for them to contact you for their exotic car needs if you already have a cordial relationship with them. According to Ethan, it is not enough to have just one or two exotic cars – you should ensure you have a variety of vehicles to attract different clients. The young would want a fast and visually appealing car such as a Lamborghini, while families would wish to have a family-friendly set of wheels such as an Escalade. The exotic car rental business may not be for everyone and certainly not for the faint-hearted, but Duran, with his steely grit and determination, is living proof of how it can be done.