Meet the 22-year-old who owns one of SVG’s largest auto rental companies 

By Admin. Updated 8:17 p.m., Saturday, December 7, 2024, Atlantic Standard Time (GMT-4).

Starting an auto rental service was never part of Jadiel Riffin’s plans. However, at just 22 years old, he has become the owner of one of St. Vincent and the Grenadines’ largest and fastest-growing auto rental firms, PitStop.

The entrepreneur from Villa, St. Vincent, founded PitStop on October 17, 2020, when he was only 18 years old, but at that time, the firm was only offering body works and selling parts for vehicles.

“I knew that my age might make insurance companies hesitant to work with me. Initially, my focus was on being a Body Work and Spray Technician,” Mr. Riffin told One News SVG in an exclusive interview.

But it was in April 2023, that Mr. Riffin entered a doorway where his faith met fate, and he expanded Pitstop into auto rental services after accumulating more personal vehicles than he needed.

“I then started purchasing vehicles with minor damage, refurbishing them, and selling them at a profit. Over time, however, I accumulated more personal vehicles than I needed,” he said.

“Recognizing this opportunity, I decided to approach an insurance company with which I had established a strong relationship. Their willingness to work with me enabled me to launch my rental business. The venture proved successful, motivating me to expand my fleet and grow the company further,” he added.

Today, he is recognized as the youngest self-made millionaire in SVG, having begun with self-funding. His sole trader venture has a fleet of thirty-seven (37) vehicles which he maintains. The vehicles are located on the Tarmac of the decommissioned E.T. Joshua Airport at Arnos Vale and at the Argyle International Airport (AIA).

Currently, several people benefit from jobs to clean and maintain the vehicles, but as a new year resolution, Mr. Riffin plans to employ four people for the new year who will be stationed at both AIA and Arnos Vale to handle rentals.

He is also constantly trying to set himself apart from other companies and add value to his service.

“I stand out by offering exceptional customer service, 24/7 assistance, unique hybrid vehicles, transparent pricing, an easy booking process, and value-added extras like roadside assistance along with pick-up and drop-off services,” he said.

But, even though his business is successful and growing, it is not always smooth sailing as the auto rental business can be a risky one. He said, however, managing risks is key.

“The rental business is not inherently risky if managed properly. Key to success is having comprehensive insurance, screening customers, maintaining assets, using clear agreements, and staying competitive in the market. Effective planning minimizes risks and ensures steady growth,” he said.

He also shared how he overcomes the challenges he faces.

“I own and operate an auto garage and import my own auto parts. For most rental companies, vehicle damage is a significant issue, but for me, it is not a major concern. When my vehicles are damaged, I’m able to handle the repairs myself,” he said. Adding that he has a system in place to screen customers.

He said keeping well-maintained vehicles is very important to the survival of his business and the safety of his clients.

“To keep my vehicles safe and well-maintained I provide regular inspections which involve conducting routine checks for tires, brakes, engine, and fluids. I also have a system of scheduled maintenance: I follow a preventive maintenance schedule for oil changes, filters, etc. Insurance is another factor. I ensure that all of my vehicles have comprehensive coverage for theft, accidents, or damage,” Mr. Riffin told One News SVG.

Taking pride in achieving customer satisfaction, he said: “To ensure customer satisfaction, I would listen to my customers’ feedback, resolve my customers’ issues quickly, improve my service based on their suggestions, and cdeliver great service consistently going forward”.

Mr. Riffin said in the future he will look at expanding his fleet, implementing a loyalty programme, using enhanced technology, and fostering partnerships with local firms to increase customer reach.

During the interview, he took time out to thank a few people and organisations who have contributed to his success so far.

“I would like to thank Mr. Joyette for his steadfast support and motivation throughout my journey. I also sincerely appreciate the support of the Bank of SVG (BOSVG) in facilitating the expansion of my fleet”.

Finally, he left some advice for other young and emerging entrepreneur.

“For young entrepreneurs, stay focused on your goals, adapt to changes, keep learning, network with others, and manage your finances carefully. Perseverance and learning from experience are key,” Mr. Riffin said.

He also encouraged young entrepreneurs to be compliant with their businesses. He said: “I have all my relevant certification. From Financial Intelligence Unit (FIU) to Tourism Approval, to my Tax Compliant Letter from the Inalnd Revenue Department, all of. It is very important to be compliant”.

The business’ main contact number is 1 784 434-1784. They are also on Instagram on Facebook.