Tech is known for its very intelligent and sharp graduates. While most pursue degrees in engineering and the sciences, some pursue degrees in the arts and business, like international affairs and management. Some students, however, do a little bit of both.
Ed Bolian is a fourth-year Public Policy major known for various activities on campus. Most recognize him as one of the lecture crashers notorious during the first week of the semester. Bolian does some notable activities outside of disrupting Howey Physics: he owns his own supercar rental service. Bolian thought of the idea of an exotic car rental company in high school.
“At that point, it was pretty much confined to Miami, LA and maybe in Vegas. I saw Atlanta is known for athletics, the hip-hop industry and adult entertainment, and all of those fling themselves well towards exotic cars. I think we’ve got the market to support them,” Bolian said.
Before he started his company, Bolian purchased a custom 2000 Audi S4. He would later sell it and use the money to commence his business plan.
Founded in 2006, he incorporated his business later that year to become Supercar Rentals, Inc. After selling his Audi, Bolian bought a Lamborghini Gallardo.
“About six months later, we got the second car, a Ferrari 360 Modena. We got a real big contract on it from an international customer,” Bolian said.
Though he started two years ago, Bolian has taken things slowly because of school as well as the market. “Right now I find myself working to satisfy whatever default demand exists,” Bolian said. He describes the woes and caveats of dealing with these supercars.
“[These cars cost] three to five dollars a mile [to drive]. I don’t just take them out on the town for the night,” Bolian said.
Bolian is taking some management courses to expand his knowledge of business, especially his trade. Sometimes he learns things in class that he learned from personal experiences, such as how to make a business plan.
Though he had planned a great deal, Bolian learned some surprising facts long after he started his business. He referred to another exotic car rental owner in Miami: “‘Well, people always pop up in Atlanta and then we never hear from them three months later because people have used exotic car rentals and exotic car dealerships to launder money,’” Bolian said.
Still, most people should be wary of the risks in starting companies like Bolian’s.
“Most exotic car rental companies, regardless of what occasion, go out of business in six months. I found that out after I started,” Bolian said.
Bolian engages in a great deal of communication with other rental car companies, gathering information about the current demand of cars and sensible investments, particularly in adding to the fleet.
He pursues information on the current demand in the market and whether a consumer’s demands are really sensible.
American cars like the Chevrolet Corvette Z06 and the Ford GT, as Bolian explains it, tend to be misused. Naturally, because his business deals with exotic products, he receives some exotic requests from consumers.
“[People] assume I have every car listed in DuPont Registry. So I get calls for a pimped out Impala from 1960, or a BMW 325 convertible. And I’ll say, ‘No, we don’t have those, but would you like to drive a Ferrari?’” Bolian said.
Bolian still cares about the needs of the consumer, which is important for such expensive and costly means to drive or have leisure time.
“So we try to be realistic…do what we can and [not] what we can’t. I think over time people will grow to appreciate the honesty, because in the car business…we’re not known for being the most honest people,” Bolian said.
For Bolian, the best part about Supercar Rentals is the potential. “Knowing that there’s always something else to do, there’s always someone else to go to, some other product line to develop, or more cars to get, other areas to grow into, the outcome potential and the possibility to make it into something big is really what I want,” Bolian said.
Some of the reasons Bolian has been so successful include his tempered nature and sense of responsibility.
“I’m moving slow, and that’s been necessary because of school, but also precautionary. People have said let’s just add ten cars to your fleet. I said, ‘Right now I couldn’t get ten cars out, how about one more?’ I won’t be able to get much more beyond eight to ten cars in the Atlanta area, because that’s about the point of saturation in the Atlanta area and the time to branch out,” Bolian said.
He also crunched some numbers on his success. “I’ve got a good equity position right now. Obviously cars aren’t that liquid…I’ve turned, depending on how you look at it, 600 to 1200 percent profit,” Bolian said.
Bolian expects to add consistently to his fleet, while keeping his head cool and not spending outside his needs or his business. He also jokingly comments on some of the burdens of his business, in that he is the CEO, the founder, the secretary and the car-wash boy. That does not stop his excitement and his entrepreneurial efforts.
“Every four to six months I get a new car,” Bolian said.
Bolian’s plans after his graduation in May include expanding, particularly in the number and variety of his fleet.
While the Lamborghini Gallardo, Ferrari 360 Modena Spyder and the 612 Scaglietti constitute his current fleet, he soon plans to add the Bentley Continental GT and the Lamborghini Murcielago.
Other future additions may include the Aston Martin Vantage and the Ferrari F430, as well as the Rolls Royce Phantom, which he would purchase in white because of the Georgia wedding market.
“I’ll read pretty much every automotive magazine that month just to see what’s going on,” Bolian said, revealing how much he reviews the nature of the market.
Bolian also expressed the enjoyment that he receives from owning the business. “It’s great, I’m 22 and have a collection of exotic cars, and I’m trying to find a Lamborghini Murcielago today,” Bolian said.
To find out more about Ed Bolian, you can go to www.edbolian.com and visit Supercar Rentals, Inc. at www.supercarrentalsinc.com.