Bearing CEO John McDermott wanted to re-create the private
jet experience on the ground, but as he sees it, the chief commodity he is
selling is not transportation. It's time.
Bearing operates five buses, each with a functioning office
inside with leather seats, worktables, a conference room and Wi-Fi. The buses
are soundproofed, so noise even while parked on a busy New York City street is
minimal. And drivers, all retired law enforcement officials, go through more
than eight weeks of training so they can "get through rush-hour traffic in
New York without anyone spilling a cup of coffee," he said.
The idea, he said, is for executives to enjoy seamless
productivity from the moment they step out the door until they reach their
destination. "When traveling in my prior life in my prior industry, I
found I had every tool I needed to work in every environment of my professional
life except road travel. Once I realized I could solve that, our job was to
assess demand. The more people we showed this to, the more obvious it was a
launch we had to pursue."
Pricing is based on daily use, not broken down by hours or
mileage. Corporate users can sign one-off contracts or long-term contracts for
recurring business or customized projects, he said.
Bearing is expanding from New York to Washington, D.C., and
McDermott envisions five total cities within a year and 15 within three years,
including the West Coast and Texas. Eventually, he aims for as many as 100
buses. "The build pattern will be a function of the uptake,"
McDermott said. "People see this and immediately get it. They know the
space but have just never seen it in this external shell."
Buses hold a maximum of 14 passengers, and traveling parties
range from five to 12, according to Bearing. Since launching in summer 2015,
the company has logged more than 1,000 unit days, according to McDermott.
Of course, the most meticulous design cannot control
traffic, road construction or other factors related to road travel, but
McDermott said the time value still makes Bearing a solid choice compared to
Amtrak Acela's set schedule and lower price point. "A train or plane will
run flawlessly most of the time, but if you absolutely need to be someplace at
a certain time, chances are you still will leave early and spend an hour in the
airport or at your final destination," he said. "The difference is:
With them, that buffer you have to build in is spent in inadequate waiting
facilities. If you get to your destination flawlessly with us, that extra half
hour can be spent outside your meeting spot in this environment."
McDermott still is building recognition for
Bearing outside his initial contacts in New York's finance industry and the
metro area's regional headquarters. As such, the company has broadened its
sales strategy beyond executive end users to travel buyers and others "who
can facilitate its use across the entire platform." Ultimately, the sales
process is more akin to selling real estate than travel services, he said. "The
value is not getting from Point A to Point B. It's what you can do onboard."