Mr. Hooman Nissani is a business mogul in Glendale, California specializing in developing properties for mixed use and building high value local businesses. He began his career at the age of 18 in automotive retail sales. He quickly developed into a top salesman and was soon running his own automotive dealership. He now is the President of an enterprise group with holdings in real estate development. Properties Hooman Nissani’s enterprise develops are for commercial, retail and residential use. In his portfolio of local businesses includes: new car dealerships, car rentals, fast/casual restaurants, gas stations, carwashes, financial services, hotel, among others. He hopes to continue to the growth of his current businesses as well as branch out further into other industries.
How did you get started in this business? What inspired you to start this business?
I’ve always wanted and knew I would be successful. Even when I started my career in car sales, I never accepted “no” for an answer. I work hard to make every deal back the same way I did back then as I do today. Being in sales is like owning your own business. I have always earned my own check and so going into business on my own, it was a natural progression. I’m passionate about running businesses and succeeding in these endeavors.
How do you make money?
Currently, my main revenue sources are:
- Local-Retail businesses: New car dealerships, car rentals, fast/casual restaurants, gas stations, carwashes, financial services, hotel, among others.
- Lease and Rental income: from Real estate
- Investment in real estate and businesses.
How long did it take for you to become profitable?
In my case, it is completely dependent on what industry I’m currently working in with regards to the different businesses that I run. For a local-Retail business, the norm is that within one year once the business has been set up, we can turn a profit. For lease and rental income from real estate this is fairly fast as well and usually within one year once the rental/lease property is set up is when we can see a profit. With regards to investment in real estate and businesses, this is typically a longer process. Normally, we begin to see a profit after multiple years when the asset has appreciated and there is a buyer.
When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
At the beginning, there were many doubts. Beginning a business as an entrepreneur is very daunting and overwhelming, but perseverance and hard work pay off at the end of the day. How we overcame problems was that we trusted our instincts along with extensive research. When all else fails, we can rely on our sheer hustle to make and close deals. Being well versed in your industry and surrounding yourself with others who add to your team is such an asset.
How did you get your first customer?
Most of our customers are local to us and as such, our strategy in marketing is focused around the local community. Usually we try to acquire businesses that have some revenue sources. Our job would then to grow our customer base from there.
What is one marketing strategy (other than referrals) that you’re using that works really well to generate new business?
We put a lot of emphasis on digital marketing, i.e. website, traffic generation, social. In this age of digitalization, having a strong online presence is imperative to having a successful business, especially one in the automotive industry. A second pillar in our Marketing is the off-line, i.e. TV, Radio, Billboards and mailers.
What is the toughest decision you’ve had to make in the last few months?
Sometimes, opportunities to buy another business or acquire a property arises. We have to decide if we have the resources to take on another project. Currently, we are so busy that it is difficult to take on these new projects. Though the deals were good, we just had to turn down the opportunities. It’s frustrating seeing these opportunities disappear.
What do you think it is that makes you successful?
Some say I’m a micromanager and that may be true, but it is my style of managing that has gotten me to the point that I’m at now. It is true I stress over every detail of my businesses. But I also believe that’s what makes me successful. I am continuing to learn and grow as we go along, and this is something that will always a be a part of my entrepreneurial makeup.
What has been your most satisfying moment in business?
It is a great feeling I have amazing people and processes in place that can run the business itself. Even without me, the companies continue operating. This allows me to focus on the bigger picture for my companies as a whole and what I want my future to look like in regard to my career.
What does the future hold for your business? What are you most excited about?
The future is bright and wonderful. My goals are to move into the land development. Take a piece of land or property and repurpose it into: residential, commercial and retail spaces. This will be a huge endeavor to take on, but it is something that I have want to do for a long time and will be a great experience and opportunity.
What business books have inspired you?
I’m not much of a book reader. I do follow the news and trends along with engaging with local markets. This way I get a firsthand understanding of what is actually happening. I guess you could say that reading newspapers and news on social media are a part of what keeps me inspired every day.
What is a recent purchase you have made that’s helped with your business?
We have recently made two purchases of large pieces of land that have really pushed our businesses and investments to the next level. We hope to do more of these. We are looking to build large automotive and commercial complexes on these pieces of real estate and hope that this can be a new chapter for our enterprise.
What would the ultimate dream deal you would like to make?
I would like to develop a major complex, like a mini city within a city. A complete mini city that is self-contained. It has everything one may need from dining, shopping, movies, sports, automotive, hotel, residential, childcare, coffee shop.