7 Ways to Increase Parking Lot Revenue
Kenyan county governments' parking lot collects massive rates of revenue from parking lot users. The elephant in the room is whether the revenue collected by the county government is put to the good development of the county resources.
Victor Kiplagat
In an era where many people own cars, it is only imperative that safe parking spaces be a priority. Safety parking spaces and friendly charges in the parking lot have been a concern in Kenya in the recent past.
The County Government parking lot collects massive rates of revenue from parking lot users. The elephant in the room is whether the revenue collected by the county government is put to the good development of the county resources.
In this article, we shall delve deeper into understanding how an individual can increase parking lot revenue. A parking lot is a property with potential ways of increasing revenue. Revenue is increased in the following ways:
1. Keep track of tracking rates
Parking rates should be friendly but also at a level where profit is consistent in this business. Parking lot users should strike balance in this property usage between supply and demand. If the parking lot has a huge client base, it may be advisable to charge lower parking fees.
On the contrary, if the client base is few, parking rates charged will be higher so as to balance the books on finance, parking lot maintenance, and repairs. Additionally, have visitors book so that the parking lot owner can track customer feedback and queries.
2. Use Electronic Parking Technology
Technology makes parking lot transactions seamless, faster, and easier. Furthermore, tech helps save time on clients accessing parking lot space in advance and reducing prolonged queues.
The technology on electric parking database has been very useful and profitable in stadia that have numerous parking lots and where security has been beefed up due to safety protocol measures being breached by robbers.
3. Partner with Other Businesses
In areas where the parking lot can accommodate a huge number of cars and the parking lot patrons are few, a security breach has been evident and car owners have suffered irreparable damage.
Partnership in security with other businesses will ensure security loopholes are dealt with once and for all. In the same vein, clients are likely to associate with businesses that have safe, secure, and comfortable parking lot. Businesses in which partnerships to provide safety and ample parking space have materialized include bars, restaurants, art galleries, museums, and small businesses. Partnership guarantees that security is a collective responsibility.
4. Offer Valet Services
Valet services ensure parking lot services are professionalized. In a parking lot, especially in airports with tight schedules, valet services come in handy.
Valet additionally secure your luggage, parking lot space, directing the client to the parking lot social amenities are just to mention but a few. Valet services provide parking lot experiences and professionalism of the highest standard. These efforts ensure parking lot revenue in airports and the high-end areas never runs dry.
5. Provide Amenities
No client wants a forgettable experience in a parking lot. A positive and well-built reputation for parking lot services does provide revenue that would “cover” the business even in low seasons when the client base drastically reduces.
These amenities include the following: comfortable benches, lavatories, tram service to transport guests to and from their cars, and charging stations at the main entrance of the parking lot.
7. Install Parking Shade Structures
The sun’s UV rays can cause severe damage to the windscreen of the cars. Parking shades alleviate all concerns of car owners who park in an open space. Parking shades defend cars from damage caused by hail, sleet, and sandstorms. As mentioned above, car safety is a priority that cannot be relegated by parking lot owners.
As revenue shall increase, the highest standards of safety in the parking lots should also be considered. Security of the parking lot should be undertaken as a collective responsibility. As these measures are implemented, the huge client base will guarantee an increase in parking lot revenue.
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