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Startup for Parking Solutions

I am not sure how many startups are already working in this direction , but one thing is sure that there will be a huge demand for any such startup.

 

What is the problem of Parking?

With population increasing daily, people are buying more and more cars that needs parking space. There are people who get parking space anywhere they travel, but thats not the case always. Many people have trouble getting parking space all through the day, result , either people avoid going out or park at some weird places such as on the middle of the road. Is that what we want? No! We dont want that.

So, whats the solution?

Just like any other idea, you have to refine and get your facts and figures on paper to deal with this situation. There is no reason that you cant develop a startup that solves the problem of parking spaces. If you do a Google Search on the Parking Space apps , you will get some results, but the fact is these apps doesnt solve the problem at large. There are flaws in these apps that needs perfection, thus a startup scope.

What could be the basic concept?

Well the basic concept is simple if you want to develop a startup for solving the parking problem. We need space to park vehicles, we need to show them on a visual interface (App screen), update it real time.

Now if you really want to work on a deep level, and if you think you can solve the parking problem with a startup, you need to revisit your plans and ideas again and again. Start slow. Start with one city, where there is a problem of parking, and people are willing to pay for that. One more thing we need along with these two requirements is, there should be a physical space where you can actually allow people to park their cars.

Is it actually possible?

There is no reason, why there cant a real , feasible and economically viable startup that solves the problem of parking. There are some real apps that are running at this moment of time, but they are not fool proof and there can always be competition if the idea is good. One liner, Yes its actually possible that you make a startup that has the real time database for parking spots.

Revenue model

Revenue model can be for two types. You can simple let users sign up on your app, use their location, show them parking spaces available. You decide the price to use the parking spot hourly, or day wise.

or

You can offer an exclusive membership at a monthly recurring cost where your members can use any parking spot , anywhere without paying fees for individual usage.

Expenses?

Other than staff and marketing expenses, you will need an office infrastructure. But the main concern is how to acquire the parking lots/spaces. Most probably, you will have to identify the places where there is a possibility of creating a parking lot/space. After that some sort of contract with the actual owner of the land. You dont need to buy the lands around the world, you can just manage an arrangement with the land owners. It will cost money , the amount of money can vary according to demand and supply.

 

I will keep updating you about the possibilities of further issues in this startup idea where you are solving a problem of parking spots. Do let me know your views, ideas and anything you want to comment.

What do you think?

Written by Sushant

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