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Leo&Go reaches an important Financial Milestone: Gross Margin Positive

COMPANY

Leo&Go

LOCATION

Lyon, France

INDUSTRY

Carsharing, Shared mobility, Digital rental, Instant Access, Free-Floating

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Now up and running for a year and a half, Leo&Go is officially gross margin positive*, and well on track to reach break-even within 24 months.

 

* = Revenue – Direct Costs (vehicles + insurance + charging/fueling + parking + fleet operations: balancing, maintenance and repairs + tech + customer support)

In order to get there, the team will continue to focus on these main areas:

 Boosting the bottom line by:

✔️Offering various solutions that meet the different mobility needs of the residents of the Lyon Metropolitan area (e.g. instant access, instant access with pre-booking, station-based scheduled-booking, as well as multiple vehicle types and models).

✔️Growing their corporate clients portfolio by developing a brand new B2B offer

✔️Monitoring and retaining their high customer satisfaction rate (97%) through stellar in-car and app experiences, great service accessibility, excellent customer support, and of course, 5* public ratings (making sure Leo&Go users share their love loud and clear!).

 Maintaining costs as low as possible by “keeping it lean”: 

✔️Lean operations: leveraging Vulog’s fleet management tools to optimize agents’ workload and tasks (balancing, charging/refueling, maintenance/cleanliness, damage interventions) and reviewing each external vendor/partner agreement.

✔️Efficient team organization: each of the 4 team members of Leo&Go has a specific job domain (general management, operations, marketing, and B2B sales), but all of them can be “called to duty” when needed to re-balance a vehicle, look after new registrations, handle a customer support call, etc. Meet Vincent, Mehdi, Marie and Cyril in past and upcoming editions of Inside Leo&Go.

✔️Smart marketing actions: who said you had to spend crazy amounts of money to boost your service’s visibility and grow your customer base? Leo&Go’s marketing mix is mainly based on: using the cars as the first advertising instrument, creative social media posts, emailing campaigns and notifications (useful content, user portraits, partnership offers), as well as an automated and targeted use of CRM integrated marketing tools (promo-codes, loyalty, referral programs, etc.).

Want to hear exclusive insights about Vulog’s Mobility Showcase? Subscribe to our Inside Leo&Go newsletter.

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