April 15 - 17, 2024 | Las Vegas, NV
Michael Esfahani prior had worked in the engineering field from the early eighties to the late nineties. He held multiple senior positions in his engineering life and the last position held was Vice President of Voss Electronics building circuit board manufacturing machinery for defence contractors.
After almost 20 years in engineering he decided to switch careers and go into residential real estate buying and selling homes for himself. At the same time he was contacted by a friend who had a small car rental operation in a hotel by John Wayne Airport, a fleet of about 24 cars. Esfahani bought their small fleet of cars.
Based on an early realization that the small car rental operation was not making any money and had a limited future since it is not on OTA. After some research within the first year he joined U-Save so their car rental operation could be listed on OTA sites and began increasing their fleet.
As the operation grew, they moved to their own building with more space and the fleet increased to 120 cars. Another key realization was that in order to really make money in car rental you need to also be selling cars. The next big step was opening in another location in a bigger airport and LAX was the next choice. They currently operate out of LAX, SNA and SAN airports with a fleet of about 800 cars.
Esfahani believes that a car rental company can not survive without proper fleet planning. You really have to know how much you can sell a car before buying one. He holds a bachelor degree in Mechanical Engineering and a Master in Electronic Instrumentation.