Helping fuel the future of transportation
By offering a subscription-based alternative to car ownership, Mutual Mobile helped Flexdrive disrupt a century-old business model.
Using technology to transform how people “own” cars
Since the introduction of the Model T, buying and owning a car has been a cumbersome process. Not only does a buyer have to spend their day haggling with a car dealer, they also have to endure costly maintenance and repairs. In today’s market, there is evidence that given the choice of options, millennials see little value in owning or leasing a car.
With these insights in mind, the idea for Flexdrive was born – to offer “the most efficient way to access and operate a car with the best possible experience.” With this vision of being a new way to subscribe to a car, Jose and the Flexdrive team created a subscription-based model that allows users to use a car of their choice by the week or month, indefinitely.
To turn Flexdrive into a reality, Jose leaned on Mutual Mobile to create a best-in-class mobile app and build the overall brand. To begin, Mutual Mobile conducted discovery work and independent research to help build multiple wireframes and paper prototypes of the app. From there, the Flexdrive team provided rapid feedback to guide the next iterations of the app and website before Phase One launch.
During Phase One, Flexdrive partnered with Uber to provide vehicles to its drivers. With this partnership, Uber drivers gained access to a vehicle that allowed them to make money without having to worry about maintenance or insurance, of which Flexdrive covers as part of its service. Based on this initial success, Flexdrive accelerated plans to reach the next phase of its mission.
Accelerating industry disruption through scale and efficiency
Once Flexdrive made its mark in the Uber community, the company quickly moved to Phase Two: pursuing the consumer market. Thanks to additional technology capabilities, consumers can now subscribe to the Flexdrive car of their choice by the week or month – disrupting the process of leasing from a traditional dealer. Flexdrive subscribers can also swap their vehicle based on needs, such as desiring an SUV for a weekend camping trip.
As Flexdrive begins to focus more specifically on the general consumer market, Flexdrive is embarking upon Phase Three of its evolution – offering dealers and owners of large vehicle fleets with a platform to provide vehicles directly from their lot.
With this move, dealers can realize a monthly recurring revenue stream by supplementing the Flexdrive fleet with their used car inventory. This approach hits a growing customer need in the car-buying market – appealing to customers that don’t want to have a long-term expense on their credit. This move will help Flexdrive reach their goal of becoming a one billion dollar company by 2020, a feat that is now within reach.
As Flexdrive continues to disrupt traditional car ownership, the Mutual Mobile team is providing additional technical solutions to enable continued growth. With a rising user base, Flexdrive has a need to streamline its operations. To help, Mutual Mobile is developing an app that enables the Flexdrive business to efficiently and securely approve applications and payment information by centralizing databases that verify subscriber information.
Looking ahead, Mutual Mobile is developing a dashboard for dealerships to manage the Flexdrive platform through their iPads, as well as improving the primary Flexdrive app to allow subscribers to register, receive approval status within 30 seconds, provide GPS location to a selected vehicle, and submit payment, all without having to talk to a Flexdrive representative or dealer.
In terms of the future, Flexdrive is in a pole position to become a major player in a new automotive space. Or as Jose puts it, “Why own or lease when you can Flexdrive?”