Free Revenue Streams with Paid Guest Parking Management Software
In today’s economy, it is important for all business and property owners, as well as the general public, to make smart money choices in order to generate and save income or revenue. As the world returns to some normalcy caused by the global pandemic, people are now able to travel and interact in person again with very little constraints. With this, there is also a renewed surge in the strain of parking areas, as well as the need for increased safety and security. This is even true for residential area parking spaces. When talking about smart or digital parking software, most people think of businesses and city parking, when the reality is that it can actually be used in a wide variety of free and paid parking applications, both great and small, while being able to be managed from anywhere in the world.
Where can smart parking software systems be used?
Smart parking is the use of digital technology in parking lots or parking areas such as cameras, sensors, license plate readers, signage, lighting, and more. These tools and equipment have an open line of communication with a digital cloud based application that updates in real time. This software can be fully customized to the individual space and needs. The application can also be accessed by any connected device such as a phone, tablet, smart car, desktop computer, and more.
Smart parking systems can be used in any application where parking is involved. The most commonly referenced use is in urban areas with high traffic and use, as well as long term parking like at airports or metro stations. However, even short term parking areas can benefit from smart parking such as hospitals, venues, and campuses. In addition, residential areas like apartment complexes, HOA’s, condos, and private gated communities can also reap major benefits in terms of additional revenue generated for next to nothing.
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How Does ParkingBadge Offer Free Revenue?
The ParkingBadge parking software is a state of the art cloud-based software that can be fully customized to meet the needs of just about any type of parking area or operation. This includes all the above listed areas and more. The major benefit of digital parking is the ability to generate more revenue with overall less inputs. ParkingBadge had taken this idea and ran with it in order to bring the application and knowledge at a cost of only a 30 percent fee to the facility, property, or operation. The amazing thing is that this 30 percent fee includes all related expenses with cashless payments like card fees, the availability of full access online and mobile applications that include paid guest parking software, virtual and paper permits, reserved parking for tenants, resident parking permits, interactive reports, and the ability to control access to the property.
Quick Number Crunch
With digital parking, another benefit is the ability to increase the usage of the parking facility. Instead of only having some of the spaces filled, smart parking allows for users of the facility to use every space on the lot. This is done through signage and trackers through license plate readers. The interactive system can indicate available spaces outside the facility and inside the facility at the same time in real time. This also is shown on the interactive app on all connected IOS devices. There is soon to be an android version of the app for download!
The size of the parking facility does not matter in the fee of 30 percent- from great to small Parkingbadge covers them all. If for example the parking facility has 50 spaces at $5 each with an average of 3 occupants per space at a 75 percent total occupancy, the revenue would average at $562.50 each day with a monthly revenue of $16,875. After the 30 percent fee is subtracted from the total revenue, the facility is marked to make an estimated $11,813.
Even from a smaller operation stand point, the revenue potential is still great as the fees are the same at 30 percent cut from the total monthly revenue. A parking facility for a residential parking area with 20 guest parking spaces has the potential with 75 percent occupancy over the course of the week to make $375/ day. This equates to roughly $7,984 per month of revenue.
Click here for more information about Parking Badge’s innovative free and paid parking software- https://parkingbadge.com/request-demo/
