Driving Change in Car Rentals Ammar Akhtar shares his journey in building Cardiff based Finalrentals from leveraging personal savings to tapping into a robust global network. Explore his insights on navigating challenges, securing funding, and achieving enduring success.

A vision born from experience
Ammar Akhtar's entrepreneurial journey began with a clear vision: to empower smaller car rental companies sidelined by industry giants. After spending over 17 years working with major car rental companies, he saw firsthand how corporations created a near-monopoly, making it almost impossible for single-location or smaller companies to gain visibility on major car rental platforms.

"This unfair imbalance sparked my vision to create Finalrentals—a powerful network designed to unite local and regional car rental companies," Akhtar explains. "Finalrentals empowers these smaller businesses, giving them a global presence and levelling the playing field in a way that had never been done before."

With a mission as ambitious as building Finalrentals, securing the right partnerships early on was crucial. Akhtar knew that without a robust network, attracting customers would be a daunting challenge. Drawing on his extensive industry connections, he reached out to over 800 car rental owners worldwide—not to pitch his service but to engage in meaningful conversations about the industry's future.

"I shared my vision for the future of the industry—how Finalrentals was set to disrupt the status quo and create opportunities for smaller, independent companies," he recalls. "It wasn't about making a sale; it was about igniting a shared belief in what the industry could become and how we could change it together."

Begin with bootstrapping
In the early years, Akhtar bootstrapped Finalrentals, expanding to 20 countries and 98 locations before considering external funding. By the time they began fundraising, they had established a clear product-market fit and consistent revenue.

"We successfully secured investment from Angel Invest Wales, Fuel Ventures, the E100 London Business School Angel Investors Forum, and several prominent individual angel investors from across the UK," he shares. "This set the foundation for our next phase of growth."

Like many entrepreneurs, Akhtar faced significant challenges. After initially funding Finalrentals with his savings, he lost everything within the first nine months due to overspending and mismanagement. This harsh wake-up call forced him to reevaluate his approach.

"Losing everything so quickly was devastating, but it prompted me to adopt a lean startup approach, and it changed everything," Akhtar reflects. "Despite the financial and emotional toll, I never doubted Finalrentals or its potential to become a global company."

To regain focus, Akhtar took a six-day trip to London, where he learned the value of simplicity from his retired father. "Watching him find joy in the little things taught me the beauty of simplicity," he says. "Sometimes, hitting rock bottom is exactly what you need to rise higher than ever before."

When asked about advice for new entrepreneurs, Akhtar emphasises the importance of financial prudence and clarity. "Spend wisely, and never go on a spending spree. Don't rush to raise funds unless you have absolute clarity on how you'll use them to drive your business forward," he advises.

He also encourages aspiring business owners to focus on resilience. "When times are tough, it's easy to fall into self-doubt. My advice? Never doubt yourself. Focus on finding ways to bounce back and draw inspiration from the success stories of others who faced setbacks," he shares. "True success comes from building something meaningful, not from the outward symbols of success."

Akhtar believes that motivation often comes from appreciating what you've accomplished. "Some days are good, some are bad, but we rarely take the time to enjoy the journey," he notes. "Reminding yourself of those humble beginnings will fuel your drive every single day."

The mantra for success
For Akhtar, success boils down to a simple mantra: high-impact thinking. "To change the world, you must first change your mind," he explains. "Success isn't about shortcuts or luck; it's about persistence and clarity of thought. High-impact thinking pushes you to aim higher and go further."

Ammar Akhtar's journey with Finalrentals is a testament to the power of resilience, vision, and the belief that smaller players can carve out their space in a competitive industry.