Flexcar is a car subscription company that empowers everyone with the flexibility to have a car without the hassles of traditional car ownership. Pulse 2.0 interviewed Flexcar chief operating officer (COO) Ryan Quinlan to learn more about the company.
Ryan Quinlan’s Background
What is Quinlan’s background? Quinlan said:
“Throughout my career I’ve been interested in building something new, whether it’s creating a new arm of an existing company or launching a startup. Prior to Flexcar, I was VP of operations of same-day delivery service Gopuff, chief commercial officer of logistics company DP World, head of operations and logistics partnerships at Google Express, and senior operations and pathways manager at Amazon.”
“When I was in Dubai working as the chief commercial officer for DP World, I got a car through a company that offered a simple, more subscription-like alternative to buying or leasing. I thought it was phenomenal and didn’t know why everyone didn’t get a car this way. Then, when I came back to the US, I found out about a new startup, Flexcar. The minute I heard about it, I was hooked. I met the leadership team and joined Flexcar soon after.”
“As Flexcar’s chief operating officer, I’m focused on building a more flexible alternative to buying or leasing a car.”
Formation Of Flexcar
How did the idea for the company come together? Quinlan shared:
“Flexcar was founded in 2021. What sparked the creation of the company was really the constant horror stories we heard of people going through the buying or leasing process. Friends, family, and colleagues would tell us about how they felt “trapped” with their car, and wanted an easier way to access a car without having to own it.”
“At the same time, the founding team reflected on how favorable consumer sentiment was towards subscriptions in other industries where people used to buy items — from Spotify replacing buying songs or albums to Netflix and Disney+ replacing movie purchases.”
Favorite Memory
What has been your favorite memory working for the company so far? Quinlan reflected:
“Flexcar has grown significantly over the last year, and the changes we made to drive growth made the last twelve months the most exciting I’ve had at the company. In 2023, we rolled out an entirely new pricing scheme focused on monthly-pricing and new mileage packages. We also greatly expanded the types of cars we offer. Together, these product changes and additions resulted in a lot more drivers choosing Flexcar for their long-term car needs, instead of buying or leasing a vehicle.”
Core Products
What are the company’s core products and features? Quinlan explained:
“Here’s how it works: Drivers who sign up for Flexcar receive insurance, maintenance, roadside assistance, title, inspection, the ability to swap cars, mileage, and more in one monthly payment. Drivers can choose their car on the Flexcar website or mobile app, specify whether they’d like to pick up the car or have it delivered, and drive the car for as long as they’d like. With Flexcar, drivers can save over $2,000 upfront compared to the costs of buying or leasing a car, and up to 20% on monthly payments.”
“One of the great additional features we’ve launched recently is the Flexcar Savings Calculator. We’ve known for years that subscribing to a car is in most cases cheaper than buying one. To prove it, we’ve created a dynamic calculator that clearly shows customers estimates for how much money they’d save subscribing to a vehicle monthly instead of buying it with financing.”
Evolution Of Flexcar’s Technology
How has the company’s technology evolved since launching? Quinlan noted:
“Everything that Flexcar has done to enhance its technology over the last few years has been with an eye towards giving our customers the best possible way to have a car. One of the tech updates I’m most excited about is the recent launch of dynamic, vehicle-level pricing for all of our cars, which lets customers find a car that’s exactly right for their needs and budget.”
“Customers can select the exact car online that they’ll pick up or have delivered, and Flexcar automatically adjusts the price based on a range of characteristics of that specific car. Factors that determine pricing include the make, model, features, and mileage of the car.”
Significant Milestones
What have been some of the company’s most significant milestones? Quinlan cited:
“Recently, we announced that Flexcar members have driven more than 100 million miles in Flexcars since the company launched in 2021. This milestone is our greatest success because it reflects how much our members enjoy using Flexcars.”
Customer Success Stories
After asking Quinlan about the company’s customer success stories, he highlighted:
“We’re honored that we recently surpassed more than 100 five-star reviews on TrustPilot! I love the one that came in just a few days ago, from a customer named Maureen:
In a lifetime of looking for good deals that made sense discovering Flexcar is at the top of the list. Insanely happy users for a few months now I’m not sure we will ever go back to conventional car ownership. Simple, convenient, cost effective we could not be happier to be Flexcar customers.
Another one I enjoyed reading from 2024 was from Keith:
I was able to order a car online from Flexcar in under 15 minutes and pick it up a few days later.
Their pricing is also very competitive. When I compared the monthly cost of a Flexcar vs. owning a car and paying for insurance and maintenance, Flexcar ended up being the cheaper option for me.”
Revenue
After asking Quinlan about the company’s revenue information, he revealed:
Flexcar is doing millions of dollars in revenue, and we’re growing at an exponential rate!
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Quinlan assessed:
“Flexcar is headquartered in Boston and focused on the US market. The opportunity here is extraordinary, with the auto industry representing upwards of 3% of GDP.”
“Looking at 2022, the last year that auto sales data is available, over 13 million cars and light truck vehicles were sold in the US. With this in mind, we’re going after a market opportunity of well over $100 billion.”
Differentiation From The Competition
What differentiates the company from its competition? Quinlan affirmed:
“What we’re really looking to disrupt is the car ownership market. When it comes to everyday car use, people tend to either buy a car or sign a multi-year lease. Flexcar is a completely flexible car subscription program, offering a smarter and more affordable alternative to buying or leasing a car. Our company lets people enjoy all the benefits of having a car, without needing to sign long-term contracts, spend time and money on maintenance, and figure out what to do with your car if you’re traveling or simply don’t need a car for a few months of the year.”
Future Company Goals
What are some of the company’s future company goals? Quinlan concluded:
“I’m excited about launching Flexcar in new cities and states. We get a lot of inquiries from customers outside of the cities we currently serve that have heard about Flexcar, as well as customers that come to us from other states that wish they could get a Flexcar in their local city.”
“In terms of the cars we offer, customers have given us a lot of feedback on what they want. We’ve rolled out many new vehicles over the last year across the markets we’re currently in, and look forward to continuing to add vehicles in the coming year.”
