Increasing Revenue Through ParkingBadge’s Smart Parking Software
Smart parking or digital parking has become a mainstream concept that is taking over parking facilities across the United States. There are many benefits of using these types of systems ranging from customizability, easy of use, and overall great customer satisfaction. Parkingbadge’s state of the art parking software system also has a major benefit of revenue boosting.
ParkingBadge is an innovative team that are backed with a plethora of knowledge in property ownership, management, and parking enforcement industries. Their overall goal is to fulfill the needs of providing a parking enforcement platform that is truly beneficial to the parking management platform, as well as creating a positive communication and working relationship between manager and parking.
Benefits of Smart Parking
Smart parking offers the major benefit of generating more revenue with overall less inputs like employees, paper piles, and more. ParkingBadge has taken that idea and revolutionized the concept offering only a 30 percent cost to facilities. This also covers all operating costs. Included in this package deal of a lifetime is the availability of full access to online and mobile applications including, but not limited to- paid guest parking, virtual and paper permits, reserved parking for tenants, resident parking permits, interactive reports, and the ability to block vehicles from the facility.
The 30 percent fee also includes all credit card fees and costs, regular updates to software in order to increase user safety of vital information, and all training and support needed for employees of the facility to operate the system.
Crunching the Numbers
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 200 spaces at $5 each per billing cycle per space, at a 75 percent total occupancy, the revenue would average at $875.00 each day with a monthly revenue of $26, 250.00 if billed on a daily basis. After the 30 percent fee is subtracted from the total revenue, the facility is marked to make an estimated $18,375.00.
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 50 guest parking spaces has the potential with 75 percent occupancy over the course of the week to make $1,300+ in parking fees. This equates to roughly $5,600+ per month of parking management revenue.
Start up and overall maintenance costs can add up for a facility. With ParkingBadge’s all inclusive fee, these costs are often reduced and left for ParkingBadge to take care of. This leaves the operation available to care for other matters of the operation.
Click here for more information about Parking Badge’s innovative parking software- https://parkingbadge.com/solutions/
