Published On: Thu, Mar 3rd, 2016

Why Are Entrepreneurs Investing In Car Parks?

The more you drive in cities, you more car parks you see popping up in the area. The truth is that car parks are in high demand, and there are plenty of entrepreneurs that want a chunk of the action. This raises a question: why? Why are businesspersons interested in a concrete building block that houses automobiles? The simple answer is that they make money. In fact, they make a killing. If you don’t believe that, just take a look at the following. These are the reasons why they make so much cash.

Car parking

The Fee

As they are a business, they charge money for their services. The difference with car parks is that they can charge a seemingly small amount and still make a fortune. Take a look at this scenario. A car park charges anywhere between £3 and £5 for a day pass. Although that doesn’t seem like a lot, it accrues when you realize that is the price for hundreds of cars. The average car park can make a couple of hundred pounds a day on a slow day.

Demand Is High

If you think about it, they could charge what they wanted for their service because you will always want to park your car. No one drops off the wife and kids and then drives around for a couple of hours so that they don’t have to park. That is ridiculous! No, you find a car park near to the center of the city and pay the fee. Car parks are going to be in demand for the foreseeable future. And, that means the financial benefits outweigh any negatives. There aren’t too many business opportunities that offer a steady stream of profit like owning a car park.

Hassle Free

Better yet, the owners don’t have to bother themselves with the politics of running a business. Thanks to parking solutions and management companies, they can leave the everyday hassle to them. All they have to do is make sure that the business is making money and adhering to the rules and regulations. If that is the case, they can pick up a hefty paycheck at the end of every month without lifting a finger. You’ve got to admit, it sounds like a great business opportunity so far!

Cost Effective

Apart from the building, there isn’t an expense that is going to break the bank. Yes, the initial cost of the building might cost a lot of money. But, even then a lease isn’t out of the equation. Once you have the premises, you only need a few pieces of equipment, security cameras, and a few guards to attend to any problems. Other than that, a car park runs itself, which means no one has to spend a fortune to make a fortune.

After seeing the above, it is a wonder that more complexes are not popping up in cities more often. The only real threat to a car park firm is the competition because they can steal their customers. Still, if you can beat the competition, you can make a killing.