First of all, how are you and your family doing in these COVID19 times?
Matt Rogers: At 777 Exotics, we are doing well and keeping busy with our clients who have remained active in shooting music videos and films along with driving our beautiful luxury cars for entertainment and outings with friends and loved ones.
Tell us about you, your career, how you joined 777 Exotics
Matt Rogers: A background in entrepreneurship is what led me to join 777 Exotics. I had the privilege of being an Entrepreneur In Residence at Texas A&M University while studying the travel and tourism industry. While in the entrepreneurship program, there were many opportunities to refine ideas and work with teams and advisors to find the perfect product-market fit. What we have built at 777 Exotics is the perfect product for our marketplace in Los Angeles.
How does the Exotic 777 innovate?
Matt Rogers: We stay on top of trends in the automotive industry by keeping an eye on every new exotic and luxury car hitting the market. When we know a car or SUV will be a hit with our customers, we begin marketing that car aggressively – like the Lamborghini Urus, for example. We began marketing for the Urus before the car was available in North America, and by the time our Lamborghini’s arrived, we had a book of business waiting to experience them.
How the coronavirus pandemic affects your business, and how are you coping?
Matt Rogers: Because we deal with customers from all over the world, often those who have been traveling recently on airlines to and from LAX, we have extra security measures in place. Every car, key, seatbelt, and even the inside and outside of the 777 Exotics offices must be cleaned and made sanitary for the health and protection of our staff and clients.
COVID-19 has had a catastrophic effect on the travel and tourism industry, but our unique niche of exotic cars remains in demand largely due to the entertainment industry needs. In addition to this, many affluence people have little option to get outside and enjoy themselves, and dining or retail businesses lack appeal or are otherwise closed. So in some small way, the lifestyle of luxury transportation and adventurous motoring has been able to weather the storm and even gain momentum.
Did you have to make difficult choices, and what are the lessons learned?
Matt Rogers: Difficult choices are everywhere for us these days as we seek to plan for the future of 777 Exotics. Fleet management is a crucial consideration when working with luxury cars that range in price from $200,000 – $400,000.
How do you deal with stress and anxiety, how do you project yourself and Exotic 777 in the future?
Matt Rogers: Continuing to refine our approach to customer service is the main goal we see moving into the future. Streamlining our customer’s luxury car rental experience means providing the options they want at the price they can afford. If our customers’ needs are being met, we have less stress and anxiety. In the future, we see an opportunity to double our fleet of luxury and exotic cars and maintain a small footprint, perhaps expanding to just one new major marketplace in the US.
Who are your competitors? And how do you plan to stay in the game?
Matt Rogers: Our competitors are large brands like Enterprise and Hertz. These companies are making news as they struggle to keep up with costs and a drastic reduction in demand. 777 Exotics is different in that we focus specifically on the highest end cars from Rolls Royce to Ferrari and McLaren. This sets us apart and allows us to focus on the areas of the car rental industry where the ticket price is significantly higher, and the margins for profit are higher as a result.
Your final thoughts
Matt Rogers: We believe there is strength in the Los Angeles market for luxury and exotic car rental despite the pandemic or 2020. Our customer base remains active, and the management team has implemented practices for capital management and safety that give us a clear vision of the future for our car rental business in Los Angeles.
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