Parking management involves several strategies by managers, and the premise is to make the business more profitable and quality. In order to achieve this goal, it is necessary to have knowledge of administration, service, human resources, and others. Thus, acting 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 performance.
Here are tips on how to improve parking management by making it more cost effective.
Organize parking expenses and management
The first step for any business that wants to grow and become more profitable is to organize finances, which includes tight control of parking entrances and exits. Estimate all expenses related to business management, such as employee self-service, rent, basic accounts, disclosure, among others. Knowing what is the monthly expense for the site to work properly, allows you to identify what should be the minimum input so that there is no loss and from that, it is possible to estimate what profit can be obtained.
Get the right pricing
After estimating parking operation costs, a business operation study should be done. Evaluate, for example, the number of vacancies, the average length of stay vehicles occupy vacancies, the number of customers who use the site daily, etc.
By assessing these factors, it is possible to make more accurate pricing because it is estimated what is the desired profit, 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 in which the parking lot is located, and cannot be much lower or higher than the others (competitors) unless there are differentials included in the service. Setting a fixed amount for time and additional periods can be a good strategy to differentiate yourself against competitors.
Invest in management automation
Currently, parking management is directly related to the use of automation. Thus, the use of technology aggregates both the parking operation, with greater consistency of the strategies adopted, as well as the experience of customers who use this space. Parking automation goes beyond installing technological equipment, it is directly related to parking management, which can be done 100% remotely.
Establish lucrative partnerships
Opting for a company that specializes in parking management allows several benefits for the establishment, and the partnership models that can be adopted are different, all according to the manager’s interests.
Establishing more accurate and profitable partnerships and improving the other elements that influence good parking management, the entrepreneur achieves better results with the business and can expand and consolidate the operation.
Never stop investing
As challenging as the parking market may seem, it is important that the entrepreneur who works in this field always invests to improve his operation. Being aware of consumer wants and market trends and not opposing them helps in better parking management. The old model of parking spaces is becoming obsolete, giving way to places that combine price and benefits and bet on The Best consumer experience.
