Starting an Exotic Car Rental Company: The Reality Behind the Dream

As I reflect on my journey into the exotic car rental business, I have to emphasize that it's not as easy as it seems. When Noah and I started Gotham Dream Cars, we were driven by a passion for cars and a vision to create a unique experience for customers. We didn't have all the answers, but we had a solid plan and a willingness to learn.

We began by keeping overhead low, which was essential in those early days. We essentially took our living expenses out as operating costs, leaving us with a meager income. However, this allowed us to focus on building the business and creating a sustainable model. The key is to understand that investing isn't free money; it's a significant commitment that requires careful planning and execution.

As we entered the market, we encountered stiff competition from established players like Hertz, Enterprise, and Black and White Beverly Hills Rental Car. However, we refused to back down. We focused on building our brand, creating an exceptional customer experience, and differentiating ourselves from the competition through marketing efforts that were hundreds of thousands of dollars per year.

Marketing is crucial in any business, especially one as competitive as exotic car rentals. You need to create buzz, attract customers, and ensure that your cars are always available for rental. Unfortunately, luck plays a significant role in this industry. We've had our share of damages and accidents over the years, but we've learned to be proactive and take steps to mitigate risks.

The key to success lies in understanding the business model, managing risk, and executing it flawlessly. It's not just about having money; it's also about possessing the right skills, knowledge, and experience. If you have both, and you're willing to put in the hard work, you can build a sustainable exotic car rental company that generates significant revenue.

However, I want to emphasize that this business is not for everyone. It takes time, effort, and dedication to succeed. You need to be prepared to face challenges, adapt to changing circumstances, and continuously improve your operations. If you're considering starting an exotic car rental company, I urge you to carefully weigh the pros and cons.

If you do decide to pursue this venture, here's a semi-logical order to get started: first, identify your target market and create a solid business plan. Next, secure the necessary funding and invest in high-quality cars that will attract customers. Develop a marketing strategy that sets you apart from competitors, and be prepared to spend significant resources on advertising and promotional efforts.

Finally, build a strong team with the right skills and experience. This is crucial in managing the day-to-day operations of the business, dealing with customer complaints, and ensuring that your cars are always available for rental. With careful planning, execution, and a healthy dose of luck, you can create a successful exotic car rental company that generates significant revenue.

However, if I'm being completely honest, the best way to make money in this industry is to do something else entirely. With millions of dollars on the table, it's easy to get caught up in the hype and promise of building an exotic car rental empire. But, let me tell you from personal experience, it's not as easy as it looks.

Many people who have attempted to start exotic car rental companies have ended up struggling to stay afloat. The competition is fierce, the costs are high, and the risks are significant. If I had to give advice to anyone considering starting an exotic car rental company, it would be this: don't do it unless you're absolutely sure you can make it work.

In fact, if I could go back in time and offer some advice to my younger self, I would say that there's a much simpler way to achieve financial success. Don't get me wrong; building an exotic car rental company can be a thrilling experience, but it's not the only path to success. With millions of dollars on the table, you could easily make five times as much doing something else entirely.

So, if you're watching this video and considering starting an exotic car rental company, I urge you to take a step back and think critically about your decision. Ask yourself if you have the right skills, knowledge, and experience to succeed in this industry. If not, it may be better to explore other options that align with your strengths and interests.

In conclusion, starting an exotic car rental company is not for the faint of heart. It requires a significant investment of time, money, and effort. While it can be a rewarding experience for those who are passionate about cars and customer service, it's essential to approach this venture with caution and careful planning.

"WEBVTTKind: captionsLanguage: enwhat's up everybody rob Ferretti here and today I'm going to answer another question that I get far too often which is how do I start up an exotic car rental company and the answer is probably you shouldn't and I'm not just trying to say that because I'm trying to scare you away but there's a number of reasons that should prevent you from doing it number one if your question is just how do I do that you're the wrong guy to do it it's not an easy business got a fail rate of probably 95% and when I say that nine and a half out of ten of every company that starts goes out of business within two years so that should say something so when you're looking at this and this this business advice I'm essentially about to give you will be transferable over to other businesses other fields etc but let's get into the business aspect in a second first let me tell you why it's a bad idea to do you have to be the right person to do it you have to be entrepreneurial you have to know what you're doing and I just want to be entrepreneurial you have to be smart and that's a very very important thing here a lot of people if your question to somebody who's doing it is how do I do that you're the wrong guy to do it that is not the right question to ask if you contact somebody and say hey I've done this dismissiveness I have a question about this specific thing that's a good question to ask that if you're given time with somebody who knows what they're doing you ask them a specific question you don't ask some general questions about how you start a business so if you're somebody who hasn't gotten to that level where you at least can ask an articulate question about a specific thing and not just asking essentially me or anyone else to write your business plan for you then you may be the right person to do it now let's get into this the and as I said a lot of these things will transfer over to another market now this is specific to sort of luxury goods exotic car rentals are very market dependent and very location specific you can't a lot of people are say like I live in South Dakota there's no exotic car rentals and South Dakota there's a lot of rich people around here this would be a great spot for a terrible idea if it is not a market and you have to at some sort of bar but it's like rough logic would say if there's not at least ten five-star hotels in your area when within a ten-mile radius not the right market for an exotic car rental company sure you can get a car out once in a blue moon but it's not a sustainable business model it's not a product that is sought-after and going to sustain in that market now that you pick anywhere in Virginia anywhere in Maine anywhere in North Carolina anywhere think about that use that as a bar and that's not even the right bar but it it shows you that it takes more than money it needs people spending money at a very frequent rate as they would do if you have ten five-star hotels in a small area that shows you that that market brings in people with money and those people with money are willing to spend five hundred dollars a night more or more on a hotel those are the people willing to rent cars so that is something that's very important making sure you're in the right market a simple way to do that is go up and do a reverse Google search effectively like look how many people are searching for that product if you go look up exotic car rentals Staunton Virginia and I'm picking on Staunton recently there's not going to be a lot of hit not a lot of people looking for a Ferrari rental in Staunton Virginia so if you go through that and and type in if you type in Ferrari rental New York you can see how many people are searching for Ferrari rentals in New York very important so first thing you have to do is identify the market make sure it's a sustainable market and it takes more than just a rich area or the guys that live on the hill to have a sustainable market for exotic car rentals ideally if you don't see exotic car rentals or exotic cars as sort of commonplace when you're driving around it's not the market to open up an exotic car rental company just food for thought so and this is me saving you or whatever investment money you get from getting flushed down the toilet very important so if you're not in the right market don't start if you do decide that you know what this is the right market there is a void here there in those markets New York LA Miami and Chicago maybe there's some secondary markets like Dallas Chicago Denver Vegas I mean those are all markets that you could potentially pull it off in but if you want to be competitive and successful you have to be in one of those markets if you've identified a market you've said you know what I've got a market I'm confident in this I know what I'm doing I think I'm bringing something to the table this is just general business advice you either have to solve a problem or you have to do something to to fill a market void or do something differently if you're just looking to stamp another exotic car rental company where there's already five of them you got to come to the market with something more than I can do it cheaper because a lot of people and this is why a lot of these companies go out of business a lot of them just open up get their doors open and they start renting cars as cheaply as possible because all I'm doing is trying to make their car payments or trying to pay the labor their client trying to just stick a couple of bucks in their pocket ultimately all that gets hidden in depreciation costs when it comes time to sell the car that you still think is worth ten thousand less than what you paid for it you find out you can't get anything more than half of what you paid for it is when all these companies go out of business and if it's in a sketchy market like Florida or something like that what happens oh all the cars got stolen and that's a big common thing you'd see in like Florida over the decades that big insurance claims Oh big fire on the exotic car rent a lot and then what happens they make a claim they shut down their business because their insurance drops them the next thing they know they open up under a different name so that's a common thing you can't just try to be more priced competitively offer a better service offer maybe different cars that not everybody else offers there's a couple of different approaches you can take to it who's that oh hi there it's the Robo Oh hello well I'm sorry I was having a little trouble with my headset I hate robo calls they just ruined my video trying to talk to people over here I get robo calls and I pick up calls that I don't know because it may be important you never know anyway back to my video where did we leave off so that's a common problem in like the industry you get some unsavory guys that come in and they're all about giving cheap cards a lot of things that you go on websites especially a lot of like sketchy exotic car rental websites there are a lot of companies that seem to have everything there's all smoke and mirrors yeah we got the RH we got the Ferraris look at the Bugattis we got Lamborghini Astin's you name it you can come book it we got you covered a you actually have that Veyron I'll take the Veyron no problem what happened is day before your rental hey sorry about that Veyron was just crash what I can do is I can get in the r8 which is like the only car they have very very common and that's one of the things that you want to be able to set yourself apart you want to be legitimate you want to go into business all for somebody a good product and and this is just general business talk you want to be able to deliver on what you're promising which is if you're making a reservation for a Ferrari 430 you deliver a Ferrari 430 and a lot of that is just advertising what you have a lot of stuff that we've done in the past is that we've put up actual photos of the actual cars that we're offering in the same spot not just a dealership photo not just a stock photo from Lamborghini we go take our car first thing we do is we go photograph it on board it onto the website so people see that we have that car we chose like the George Washington Bridge for example for our New Jersey photos so we go into the George Washington Bridge you can see all the photos on our website gotham dream cars calm shameless plug has the the photos of the cars under the George Washington Bridge ideally showing that we have possession of that car in that car is the car you will be receiving now you can't do that when we have like five Lamborghini guy our toes if we have five Lamborghini Lamborghini Gallardo is I can't take photos of all of them I will have one represented on the website and different colors available if you need it that's other way so you've identified your market you're the right guy to do this because you've already gotten past some of those hurdles next major thing is insurance insurance is very important you need your insurance to safeguard your fleet if something happens there's a lot of liability coverage that you want to carry it's usually anywhere between three and five million dollars to cover the liability on the company and then you need physical damage to protect your fleet and that's very difficult there's very few companies that write new business especially it's just it's not there's a lot of high risk and as I said with the guys that that make those whole fleet claims and everything like that or they don't adhere to their policies they start renting cars to anybody just to get them out they do cash rentals they don't cross their T's and dot their eyes next thing they know they have a totaled car and they're making a claim against their insurance they drop it that really screwed up the insurance rating across the board with the companies that did write exotic car rental company so insurance is very difficult you want to get this done and this done before you do anything if you don't have an insurance quote from a company that's going to underwrite you for this and you have to be honest with them you don't want to tell them you're not renting exotic cars you don't want to tell them you're renting them somewhere else that is something you want to cover when you got those two then you can start shopping for cars shopping for car is very easy you're going to finance them you're not gonna buy them in cash doesn't really make sense to buy them in cash but you're going to want to make sure you cover your depreciation you never want to sell a car and then find out you owe more on the car than the car is worth that is going to screw with your cash flow probably going to screw up your business and it may drive you out of business so it's very important to be aware of that so you got your market you got your insurance you got your ideal suite of cars you don't want to go too big because keeping your utilization high which is keep it in the number of the number of days that the cars go out each month you have to keep at a certain level otherwise you're not making enough money to keep the lights on now before you've done your first rental you've got your insurance you get your cars lined up risk mitigation and procedures this is something as I said you don't want to run into a situation where you're renting a car to somebody who doesn't have insurance or they they don't they're not the right person to rent the car you're not running a license or something like that risk mitigation and procedures are very important so your contract has to be ironclad you need a lawyer to write your contract your terms and conditions you're probably just going to go to Gotham dream cars website and download them like everybody does but we've sought them out they're well established and you want to have those procedures you want to adhere to those procedures just saying like oh is but the guy's offering me money as offering the cash it doesn't matter that that is a risk that you should not be willing to take renting cars out that are uninsured renting cars that are not registered as rental cars all things that could trip you up and ultimately force you out of business in short form you want to avoid elite and this is a lot of people just take the quick easy way and the numbers are pretty big in the exotic car rental space the overhead is pretty big too but the numbers of like wow I got four thousand dollars for that rental I've got no problem doing it one crash cart your one crash car away from potentially going out of business and that insurance is very very difficult to get so if you do have it you do not want to make a claim and especially not in the first two years of business so you're effectively getting insurance but your self insuring for the first two years because if you make a claim there's a good chance they're either going to raise your rates to an unsustainable level or you're going to get driven out of business just by the fact that they're going to drop you and you're not going to have insurance he'll have to go through a state fund or something like that and we had got some word through the state funds I mean we're talking almost forty or fifty thousand dollars per car per year early on just because that's that's the way we entered the business we kept overhead low for example when I started in the company and Noah started in the company no we just essentially took his living expenses out year one I made zero your two at the end of year two so the full calendar year I got $25,000 for working the entire year so the first two years at got some dream cars I effectively worked for $12,500 a year which obviously is not enough money to live off of but it's the sweat equity that you hear on things like Shark Tank and it's the time that you have to put in you can't just get into this thinking that you're going to go draw your $100,000 paycheck and you're going to go drive around and Ferraris and Lamborghinis all day it is not that easy of a business it's actually a very difficult business you've got all this stuff ready you're here you're ready you've got your cars your location and locations you don't have to go crazy don't pretend you need a big location if you can't afford it at the time you want to start small you'll have a big investment pool that's all something you have to remember investment isn't free money it's got to be paid back investors don't want to just give you money to go try something out all of that now you have to do marketing you got to get these customers in the door because you said they were there and every everybody oh yeah you get that call definitely rented already oh yeah absolutely absolutely those people don't come knocking on your door when you actually have the cars trim when it comes down to putting money on the table marketing is very important it's hundreds of thousands of dollars a year that we spend at Gotham dream cars did just make ourselves aware to everybody that they know we're out here and then you have luck you hope that you can convert those customers you hope that you've got the right product in the right market and you've covered yourself on risk and nobody's going to crash cars in the first couple of years and it happens like there's damage and stuff that happens you have to run a clean good ship you need luck you have to be the right person and if you do all of these things right which is a lot of stuff to do right and not much goes wrong the little things will go wrong and you can eat that but you do all this right and not much goes along wrong two years later you may have a sustainable business so all that being said how do I start it start an exotic car rental company it's not easy and it takes money brainpower and if you have money which is that lots of money it's do I exceed the multiple dollar signs and brain which is like that's a brain with ears I am NOT nervous money and brain with this if you have that to make this work I assure you you can make a hell of a lot more money doing virtually anything else and the best way to do that has talked to anyone that's been in the exotic car rental business for a long time and they will tell you the same thing a listening to them because they're smart and it's a very difficult business but if you have that money and you have that brain power to make this successful you could have made five times as much doing anything else with a fraction of the risk and you'd be driving your own exotic cars so keep that in mind there is a semi logical order how you can start and run an exotic car rental company it is not easy and then you're not even factoring in any of this into the competition so if you go there's only so many markets where it works if you enter those markets and there's competition like Gotham dream cars black and white Beverly Hills rental car even enterprise Hertz tried it for a little while Hertz shut it down that there's companies all over and if you try to compete with them there's a good chance that they they will win so all stuff to keep in mind and I am sending this video to every single person if you're watching this video it may be because you've emailed me asking you how to start an exotic car rental company the first shortest answer is that's the wrong question so if you think you're the right guy to do it here's the quick and easy steps it's not as easy as it looks thank you for watching I hope I answered your questions if I didn't you shouldn't start an exotic car rental company if I did and I filled in some of the gaps for you and great yeah there's your business and rights for the dip youwhat's up everybody rob Ferretti here and today I'm going to answer another question that I get far too often which is how do I start up an exotic car rental company and the answer is probably you shouldn't and I'm not just trying to say that because I'm trying to scare you away but there's a number of reasons that should prevent you from doing it number one if your question is just how do I do that you're the wrong guy to do it it's not an easy business got a fail rate of probably 95% and when I say that nine and a half out of ten of every company that starts goes out of business within two years so that should say something so when you're looking at this and this this business advice I'm essentially about to give you will be transferable over to other businesses other fields etc but let's get into the business aspect in a second first let me tell you why it's a bad idea to do you have to be the right person to do it you have to be entrepreneurial you have to know what you're doing and I just want to be entrepreneurial you have to be smart and that's a very very important thing here a lot of people if your question to somebody who's doing it is how do I do that you're the wrong guy to do it that is not the right question to ask if you contact somebody and say hey I've done this dismissiveness I have a question about this specific thing that's a good question to ask that if you're given time with somebody who knows what they're doing you ask them a specific question you don't ask some general questions about how you start a business so if you're somebody who hasn't gotten to that level where you at least can ask an articulate question about a specific thing and not just asking essentially me or anyone else to write your business plan for you then you may be the right person to do it now let's get into this the and as I said a lot of these things will transfer over to another market now this is specific to sort of luxury goods exotic car rentals are very market dependent and very location specific you can't a lot of people are say like I live in South Dakota there's no exotic car rentals and South Dakota there's a lot of rich people around here this would be a great spot for a terrible idea if it is not a market and you have to at some sort of bar but it's like rough logic would say if there's not at least ten five-star hotels in your area when within a ten-mile radius not the right market for an exotic car rental company sure you can get a car out once in a blue moon but it's not a sustainable business model it's not a product that is sought-after and going to sustain in that market now that you pick anywhere in Virginia anywhere in Maine anywhere in North Carolina anywhere think about that use that as a bar and that's not even the right bar but it it shows you that it takes more than money it needs people spending money at a very frequent rate as they would do if you have ten five-star hotels in a small area that shows you that that market brings in people with money and those people with money are willing to spend five hundred dollars a night more or more on a hotel those are the people willing to rent cars so that is something that's very important making sure you're in the right market a simple way to do that is go up and do a reverse Google search effectively like look how many people are searching for that product if you go look up exotic car rentals Staunton Virginia and I'm picking on Staunton recently there's not going to be a lot of hit not a lot of people looking for a Ferrari rental in Staunton Virginia so if you go through that and and type in if you type in Ferrari rental New York you can see how many people are searching for Ferrari rentals in New York very important so first thing you have to do is identify the market make sure it's a sustainable market and it takes more than just a rich area or the guys that live on the hill to have a sustainable market for exotic car rentals ideally if you don't see exotic car rentals or exotic cars as sort of commonplace when you're driving around it's not the market to open up an exotic car rental company just food for thought so and this is me saving you or whatever investment money you get from getting flushed down the toilet very important so if you're not in the right market don't start if you do decide that you know what this is the right market there is a void here there in those markets New York LA Miami and Chicago maybe there's some secondary markets like Dallas Chicago Denver Vegas I mean those are all markets that you could potentially pull it off in but if you want to be competitive and successful you have to be in one of those markets if you've identified a market you've said you know what I've got a market I'm confident in this I know what I'm doing I think I'm bringing something to the table this is just general business advice you either have to solve a problem or you have to do something to to fill a market void or do something differently if you're just looking to stamp another exotic car rental company where there's already five of them you got to come to the market with something more than I can do it cheaper because a lot of people and this is why a lot of these companies go out of business a lot of them just open up get their doors open and they start renting cars as cheaply as possible because all I'm doing is trying to make their car payments or trying to pay the labor their client trying to just stick a couple of bucks in their pocket ultimately all that gets hidden in depreciation costs when it comes time to sell the car that you still think is worth ten thousand less than what you paid for it you find out you can't get anything more than half of what you paid for it is when all these companies go out of business and if it's in a sketchy market like Florida or something like that what happens oh all the cars got stolen and that's a big common thing you'd see in like Florida over the decades that big insurance claims Oh big fire on the exotic car rent a lot and then what happens they make a claim they shut down their business because their insurance drops them the next thing they know they open up under a different name so that's a common thing you can't just try to be more priced competitively offer a better service offer maybe different cars that not everybody else offers there's a couple of different approaches you can take to it who's that oh hi there it's the Robo Oh hello well I'm sorry I was having a little trouble with my headset I hate robo calls they just ruined my video trying to talk to people over here I get robo calls and I pick up calls that I don't know because it may be important you never know anyway back to my video where did we leave off so that's a common problem in like the industry you get some unsavory guys that come in and they're all about giving cheap cards a lot of things that you go on websites especially a lot of like sketchy exotic car rental websites there are a lot of companies that seem to have everything there's all smoke and mirrors yeah we got the RH we got the Ferraris look at the Bugattis we got Lamborghini Astin's you name it you can come book it we got you covered a you actually have that Veyron I'll take the Veyron no problem what happened is day before your rental hey sorry about that Veyron was just crash what I can do is I can get in the r8 which is like the only car they have very very common and that's one of the things that you want to be able to set yourself apart you want to be legitimate you want to go into business all for somebody a good product and and this is just general business talk you want to be able to deliver on what you're promising which is if you're making a reservation for a Ferrari 430 you deliver a Ferrari 430 and a lot of that is just advertising what you have a lot of stuff that we've done in the past is that we've put up actual photos of the actual cars that we're offering in the same spot not just a dealership photo not just a stock photo from Lamborghini we go take our car first thing we do is we go photograph it on board it onto the website so people see that we have that car we chose like the George Washington Bridge for example for our New Jersey photos so we go into the George Washington Bridge you can see all the photos on our website gotham dream cars calm shameless plug has the the photos of the cars under the George Washington Bridge ideally showing that we have possession of that car in that car is the car you will be receiving now you can't do that when we have like five Lamborghini guy our toes if we have five Lamborghini Lamborghini Gallardo is I can't take photos of all of them I will have one represented on the website and different colors available if you need it that's other way so you've identified your market you're the right guy to do this because you've already gotten past some of those hurdles next major thing is insurance insurance is very important you need your insurance to safeguard your fleet if something happens there's a lot of liability coverage that you want to carry it's usually anywhere between three and five million dollars to cover the liability on the company and then you need physical damage to protect your fleet and that's very difficult there's very few companies that write new business especially it's just it's not there's a lot of high risk and as I said with the guys that that make those whole fleet claims and everything like that or they don't adhere to their policies they start renting cars to anybody just to get them out they do cash rentals they don't cross their T's and dot their eyes next thing they know they have a totaled car and they're making a claim against their insurance they drop it that really screwed up the insurance rating across the board with the companies that did write exotic car rental company so insurance is very difficult you want to get this done and this done before you do anything if you don't have an insurance quote from a company that's going to underwrite you for this and you have to be honest with them you don't want to tell them you're not renting exotic cars you don't want to tell them you're renting them somewhere else that is something you want to cover when you got those two then you can start shopping for cars shopping for car is very easy you're going to finance them you're not gonna buy them in cash doesn't really make sense to buy them in cash but you're going to want to make sure you cover your depreciation you never want to sell a car and then find out you owe more on the car than the car is worth that is going to screw with your cash flow probably going to screw up your business and it may drive you out of business so it's very important to be aware of that so you got your market you got your insurance you got your ideal suite of cars you don't want to go too big because keeping your utilization high which is keep it in the number of the number of days that the cars go out each month you have to keep at a certain level otherwise you're not making enough money to keep the lights on now before you've done your first rental you've got your insurance you get your cars lined up risk mitigation and procedures this is something as I said you don't want to run into a situation where you're renting a car to somebody who doesn't have insurance or they they don't they're not the right person to rent the car you're not running a license or something like that risk mitigation and procedures are very important so your contract has to be ironclad you need a lawyer to write your contract your terms and conditions you're probably just going to go to Gotham dream cars website and download them like everybody does but we've sought them out they're well established and you want to have those procedures you want to adhere to those procedures just saying like oh is but the guy's offering me money as offering the cash it doesn't matter that that is a risk that you should not be willing to take renting cars out that are uninsured renting cars that are not registered as rental cars all things that could trip you up and ultimately force you out of business in short form you want to avoid elite and this is a lot of people just take the quick easy way and the numbers are pretty big in the exotic car rental space the overhead is pretty big too but the numbers of like wow I got four thousand dollars for that rental I've got no problem doing it one crash cart your one crash car away from potentially going out of business and that insurance is very very difficult to get so if you do have it you do not want to make a claim and especially not in the first two years of business so you're effectively getting insurance but your self insuring for the first two years because if you make a claim there's a good chance they're either going to raise your rates to an unsustainable level or you're going to get driven out of business just by the fact that they're going to drop you and you're not going to have insurance he'll have to go through a state fund or something like that and we had got some word through the state funds I mean we're talking almost forty or fifty thousand dollars per car per year early on just because that's that's the way we entered the business we kept overhead low for example when I started in the company and Noah started in the company no we just essentially took his living expenses out year one I made zero your two at the end of year two so the full calendar year I got $25,000 for working the entire year so the first two years at got some dream cars I effectively worked for $12,500 a year which obviously is not enough money to live off of but it's the sweat equity that you hear on things like Shark Tank and it's the time that you have to put in you can't just get into this thinking that you're going to go draw your $100,000 paycheck and you're going to go drive around and Ferraris and Lamborghinis all day it is not that easy of a business it's actually a very difficult business you've got all this stuff ready you're here you're ready you've got your cars your location and locations you don't have to go crazy don't pretend you need a big location if you can't afford it at the time you want to start small you'll have a big investment pool that's all something you have to remember investment isn't free money it's got to be paid back investors don't want to just give you money to go try something out all of that now you have to do marketing you got to get these customers in the door because you said they were there and every everybody oh yeah you get that call definitely rented already oh yeah absolutely absolutely those people don't come knocking on your door when you actually have the cars trim when it comes down to putting money on the table marketing is very important it's hundreds of thousands of dollars a year that we spend at Gotham dream cars did just make ourselves aware to everybody that they know we're out here and then you have luck you hope that you can convert those customers you hope that you've got the right product in the right market and you've covered yourself on risk and nobody's going to crash cars in the first couple of years and it happens like there's damage and stuff that happens you have to run a clean good ship you need luck you have to be the right person and if you do all of these things right which is a lot of stuff to do right and not much goes wrong the little things will go wrong and you can eat that but you do all this right and not much goes along wrong two years later you may have a sustainable business so all that being said how do I start it start an exotic car rental company it's not easy and it takes money brainpower and if you have money which is that lots of money it's do I exceed the multiple dollar signs and brain which is like that's a brain with ears I am NOT nervous money and brain with this if you have that to make this work I assure you you can make a hell of a lot more money doing virtually anything else and the best way to do that has talked to anyone that's been in the exotic car rental business for a long time and they will tell you the same thing a listening to them because they're smart and it's a very difficult business but if you have that money and you have that brain power to make this successful you could have made five times as much doing anything else with a fraction of the risk and you'd be driving your own exotic cars so keep that in mind there is a semi logical order how you can start and run an exotic car rental company it is not easy and then you're not even factoring in any of this into the competition so if you go there's only so many markets where it works if you enter those markets and there's competition like Gotham dream cars black and white Beverly Hills rental car even enterprise Hertz tried it for a little while Hertz shut it down that there's companies all over and if you try to compete with them there's a good chance that they they will win so all stuff to keep in mind and I am sending this video to every single person if you're watching this video it may be because you've emailed me asking you how to start an exotic car rental company the first shortest answer is that's the wrong question so if you think you're the right guy to do it here's the quick and easy steps it's not as easy as it looks thank you for watching I hope I answered your questions if I didn't you shouldn't start an exotic car rental company if I did and I filled in some of the gaps for you and great yeah there's your business and rights for the dip you\n"