For commercial property owners in the U.K., it’s easy to overlook the idea of turning your property into a car park. That is, until you realise just how lucrative the industry has become. Parking has become a big issue for drivers all over the U.K., and the need for car parks is higher than ever before.
Parking is now a multi-billion-pound industry across the U.K. and it’s growing fast.
Just how serious are our parking troubles?
· Over 40% of U.K. motorists say that they avoid driving to shops as it’s so difficult to find parking.
· Over payment for parking costs British motorists around £6.7 billion per year. That adds up to a whopping £209 per driver.
· UK drivers spend over 44 hours per year in a search for parking. So what's the cost of time, fuel and emissions? It adds up to an estimated £23.3 billion.
· UK drivers pay over £1.2 billion per year in parking fines.
There are currently estimated to be 26 000 car parks in the UK. That number does not include on-street parking spots. With the number of drivers increasing, the situation is dire. And drivers are willing to pay to find a solution. By developing your property into a car park, you can profit by becoming part of this solution.
While the industry is thriving, car park success is not simply guaranteed. If you’re thinking about converting your property into a car park, there are some factors you will need to consider.
Equipment and Maintenance
it’s vital to ensure that you have the best equipment and management. Pay & display machines, signage, ANPR cameras and all other equipment must be reliable, as well as being adequately installed and maintained. Keeping your car park secure, will attract regular and long term customers.
Marketing and Exposure
There are literally millions of drivers out there looking for parking. But how will your car park trigger the footfall, you need to find a way to reach drivers who require regular convenient parking.
By using the right technology, you can grow a base of loyal users to ensure your car park is in constant use. When we agree to lease or operate your car park, we’ll advertise your car park through mobile apps, reaching potential customers and making them aware of available parking spaces in order to increase usage, awareness and revenue.
Providing excellent customer service and up-to date equipment is key in operating successful car parks. ANPR technology increases car park profits by 25%. ANPR systems are automated enforcement machines, which work around the clock to ensure car park users pay for their usage. We believe offering users convenient and secure payment methods, increases footfall and influences return rate. Our car parks only have cash and contactless payment methods, saving users time from logging into apps or listening to annoying pay by phone instructions.