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Independent Cabs
by Q Ali Akbar Nekibur pays $120/day to lease (rent/borrow/whatever) the cab he drives (from an Independent Cab Company). He pretty much exclusively does runs from the airport, presumably it's more lucrative; though surprisingly he says that some days he barely covers the cost of the lease/gas (which seems surprising, assuming 8 hours in his work day, and an average trip of maybe 20 minute trips at $20). He enjoys the flexibility in the schedule, he only works 2 days a week at the moment (while he gets his degree in chemical engineering). He is going to buy/operate a gas station with his brother. He is originally from Iran, been here since high school. He said that a 7-11 in an extremely good location brings in $30k profit per month (I think this is the figure he gave me, could have been $70k). Gas stations barely make a profit on gas, I forget the exact number, but it was in the single digit cents per gallon, I believe it was 3 or 7 cents per gallon profit. The bulk of their money is made in the "mini mart" side of things. 7-11 franchises are relatively hard to get, I think he suggested it was location related, difficulty getting a location, since they don't want to over-saturate; I don't think the difficulty was a high buy-in. If you do get a 7-11 franchise, they hold your hand through everything, he said, and they have the process of getting started down to a science.
Anyway, that's what I learned on the way back to my apartment from the airport last Sunday.
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