Monday, August 15, 2022
UncategorizedTips for better parking management

Tips for better parking management

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Parking management involves several strategies on the part of managers, the premise of which is to enable the business to be more profitable and of quality.

For this objective to be achieved, it is necessary to have knowledge of administration, service, human resources and others.

It can be seen that, the performance in a parking management process involves diverse knowledge, being a business that requires strategic development and planning so that it can be profitable and expand the performance.

Tips for better parking management

Check out the following tips on how to improve parking management by making them more profitable.

Photo by John Matychuk on Unsplash

Organize parking expenses and management

The first step for any company that wants to grow and become more profitable is to organize the finances, which includes strict control of the entrances and exits of the parking lot. Estimate all expenses related to business management, such as employees, rent, basic accounts, disclosure, among others.

Knowing what is the monthly expense for the location to function properly, allows you to identify what the minimum input should be so that there are no losses and, from that, it is possible to estimate what profit can be obtained.

Ensure more accurate pricing

After estimating the costs of operating the parking lot, a study of the operation of the business should be carried out. Evaluate, for example, number of vacancies, average length of stay that vehicles occupy vacancies, number of customers who use the place daily, etc.

By evaluating these factors, it is possible to carry out a more accurate pricing, since it is estimated what the desired profit is, the recurring expenses and the amount that must be charged for the financial objectives to be achieved.

Remember that the value must be appropriate with the region where the parking is located, and it cannot be much lower or higher than the others (competitors), unless there are differentials included in the service.

Stipulate a fixed amount for additional hours and periods, it can be a good strategy to differentiate yourself from competitors.

Invest in management automation

Currently, parking management is directly related to the use of automation. Thus, the use of technology such as ticketless parking system adds both to the parking operation, with greater consistency of the strategies adopted, as well as to the experience of customers who use this space.

Parking automation goes beyond installing technological equipment, it is directly related to the administration of parking, which can be done 100% remotely.

Establish profitable partnerships

The option for a company specialized in parking management allows several benefits for the establishment, with different partnership models that can be adopted, all of which are in accordance with the manager’s interests, such as:

– Leasing, in which the manager rents the space and manages the entire parking lot, including the financial one;
– In the SCP model, in the formation of a Society with Participation together with the entrepreneur;
– The consortium model for association and joint exploration of space.

By establishing more accurate and profitable partnerships and improving the other elements that influence good parking management, the entrepreneur achieves better results with the business, being able to expand and consolidate his performance.

Never stop investing

As challenging as the parking market may seem, it is important that the entrepreneur who operates in this field always invests to improve its operation. Being aware of consumers’ desires and market trends and not opposing them, helps in better parking management.

The old model of parking spaces begins to become obsolete, giving space to places that combine price and benefits and bet on the best consumer experience.

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