Wednesday 23 October 2019
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Private parking spaces, a profitable business option

No one ever imagined that parking lot business can become one of the highly profitable business areas in the modern time. Earlier parking lots were usually constructed by the civic authorities or government to decongest the city by providing a safe and sound parking space for all sorts of vehicles. But soon several private contractors, builders, realtors started constructing their own parking lots in the city to earn money.

The government built parking lots charged very minimal amount or were usually free, but because of the poor maintenance most of them were shut down, leading to increase in vehicular congestion especially in the main cities like Quebec etc. Seeking this is as a great business opportunity, several builders and realtors come up with private parking zone that are quiet hi-tech & affordable too.

Today this parking lot business has become a $30 billion dollar industry. In order to make more profits, realtors keep on looking out for new and better ways of making there parking space efficient. The best way to earn more profits is by optimizing the parking space so that it can easily fit in not just cars, but also motorcycles, semi-trucks, bicycles, scooters etc.

Not only this, these modern parking lots are fitted with automated machines that have completely taken over the manual work like ticket vending, security, lighting etc. These automated machines are very efficient and consume less time in completing tasks. Well in this technology driven world, even parking lots have become tech-savvy, some parking lots even have mobile application that has made the parking process easy and hassle free. Have a look at the infographic below provided by ParkingZone, leading distributor of Traffic Enforcement and Revenue Management Solutions, Parking Lot Supplies, and Valet Equipment, to learn more about today’s trends in the parking lot industry today.