Americans are obsessed with cars. Millions of new cars are being added to road traffic every year. In 2016, around 17.5 million light vehicles were sold throughout the country, the biggest annual sale in history. This could mean trouble not just for already congested roads, especially in metropolitan areas like Los Angeles, but also for businesses that offer parking spaces. Hence, the need for effective parking solutions.
Parking space is a critical feature of any business as it provides customers with a safe place where they can leave their vehicles while they are doing business. Whether it’s on-road or off-road parking, as long as it is well managed, a business will benefit from it in terms of attracting more clients and growing sales.
Effects of Not Implementing Recommended Parking Solutions
To give you a better idea of how important a well-managed parking space is for a business, here are some of the bad effects of parking mismanagement or not using recommended parking solutions.
✅ Lost Profit
The impact of parking issues can trickle down to a business’s revenue. For instance, insufficient or badly managed parking may cause prospects to shop elsewhere. You can’t expect them to linger in the area waiting for a spot to be vacated. With traffic rules becoming increasingly stricter, motorists have no choice but to look for a parking space quickly. Also, you have to take into account pedestrians because they too are mainly affected by poor parking management. Whether you’re using shopping center or hotel parking management services, they have to be implemented properly to yield good results.
✅ Wasted Land
If you’re not careful in designing your commercial property, you’ll end up using more than half of its area for parking alone. Not only will that eat up a good deal of space but it will also restrict your development strategy. While you can earn by charging a parking fee, what you will yield through it is so much smaller compared to when more space is utilized for your actual business. The smaller space you apportion for productive activities, the fewer customers you can accommodate, which means you can expect fewer people to use your parking space. This is exactly why you need parking solutions.
✅ Stressful Neighborhood
Nothing attracts customers more effectively than a safe and stress-free environment. Most customers go to commercial establishments to hang out with friends or have a joyous shopping experience. That wouldn’t be possible if the roads surrounding the block are too congested or muddled due to poorly managed parking spaces. If this problem goes on for much longer, customers will feel anxious or even avoid going anywhere near that place. The last thing you need is a bad review about the area where your business is located going viral. So don’t hesitate to call us and get our experts’ advice. Whether you need hospital, shopping center, or hotel parking management services, you can rely on our expertise in the transportation and parking business.
✅ Squandered Construction Cost
Just because a parking space doesn’t have any prominent vertical structure on it doesn’t mean it’s cheap to build. Excluding lot price, which can range from $1,500 to $5,500 per space, construction cost can go as high as $45,000 per space. Imagine how much money you need to build a few hundred square meters of parking space, which you can only recover after several years.
Knowing how much you might lose by not planning and designing your parking space right, it’s high time you take this aspect of your business more seriously. Get our professional parking management services today to maximize the use of your space and let every square inch of space generate income.