six steps to add value to your car park

six steps to add value to your car park marketing market projections and feasibility studies risk minimisation management design technology

step one: design Good design creates more spaces and offers visitors a better parking experience

step one: design Essential features of good car park design Pedestrian walkways & elevators Clear, colour-coded signage Adequate lighting Paint all surfaces Good security Split level car parks: clockwise traffic Large car parks: one-way counter-clockwise perimeter traffic, two-way in subsidiary aisles Easy manoeuvrability Entry & exit routes: logically placed, adequate capacity

Essential features of good car park design

Pedestrian walkways & elevators

Clear, colour-coded signage

Adequate lighting

Paint all surfaces

Good security

Split level car parks: clockwise traffic

Large car parks: one-way counter-clockwise perimeter traffic, two-way in subsidiary aisles

Easy manoeuvrability

Entry & exit routes: logically placed, adequate capacity

step two: technology Updated access control technology maximises revenue and user convenience

step two: technology Control solutions must be designed specifically for the site and operation Reduce labour costs – use automatic paystations with credit card facilities Integrate with other systems, e.g. security, CCTV, intercom help points Improve reporting to reduce revenue leakage Help prevent fraud Monitor multiple unmanned car parks from single remote location

Control solutions must be designed specifically for the site and operation

Reduce labour costs – use automatic paystations with credit card facilities

Integrate with other systems, e.g. security, CCTV, intercom help points

Improve reporting to reduce revenue leakage

Help prevent fraud

Monitor multiple unmanned car parks from single remote location

step three: market projections and feasibility studies Conducting a study into car park efficiency and income projections can identify means to maximise income from each parking space

step three: market projections and feasibility studies Conduct a market study on the efficiency of your car park and project future income Research your local market and identify opportunities for additional revenue Establish earning capacity of each space Analyse parking statistics regularly Review structure of expenses and operational hours Update pricing strategies, e.g. early-bird and free parking offers Identify ways to maximise income from each parking space

Conduct a market study on the efficiency of your car park and project future income

Research your local market and identify opportunities for additional revenue

Establish earning capacity of each space

Analyse parking statistics regularly

Review structure of expenses and operational hours

Update pricing strategies, e.g. early-bird and free parking offers

Identify ways to maximise income from each parking space

step four: management The right car park management will ensure customer satisfaction and profitability

step four: management Review your car park management options Review the best option for management: in-house, operator management contract or lease to an operator? Pros and cons of leasing and management contracts. Operators will always focus on leases. Caution regarding management contracts Management fees should be related to combination of financial and service related KPIs Implement periodic contract reviews

Review your car park management options

Review the best option for management: in-house, operator management contract or lease to an operator?

Pros and cons of leasing and management contracts. Operators will always focus on leases. Caution regarding management contracts

Management fees should be related to combination of financial and service related KPIs

Implement periodic contract reviews

step five: risk minimisation Protect your car park from revenue leakage by minimising risk and human interactions

step five: risk minimisation Revenue loss is often the result of negligence or lack of understanding. Car parks are fraud targets: 15% revenue leakage not uncommon Leakage is often result of negligence or “being kind” to customers. May be attributable to customer, employee or management company Reducing human interaction by automating cash collections will minimize leakage Equipment features often not fully utilised because operators fail to implement appropriate systems

Revenue loss is often the result of negligence or lack of understanding.

Car parks are fraud targets: 15% revenue leakage not uncommon

Leakage is often result of negligence or “being kind” to customers. May be attributable to customer, employee or management company

Reducing human interaction by automating cash collections will minimize leakage

Equipment features often not fully utilised because operators fail to implement appropriate systems

step six: marketing Implement a marketing campaign to drive customers to your car park. Higher occupancy = higher revenues .

step six: marketing Never underestimate the power of good marketing Implement a Direct Marketing campaign to local businesses (retailers, service providers and venues) within 300-500 metres walking distance Letterbox drop, public display signage, email campaign, online marketing, local paper advertising etc Incentives to attract short-stay parkers? Set and monitor Benchmark KPIs for marketing Computerised signage is a powerful marketing tool especially for variable pricing & information

Never underestimate the power of good marketing

Implement a Direct Marketing campaign to local businesses (retailers, service providers and venues) within 300-500 metres walking distance

Letterbox drop, public display signage, email campaign, online marketing, local paper advertising etc

Incentives to attract short-stay parkers?

Set and monitor Benchmark KPIs for marketing

Computerised signage is a powerful marketing tool especially for variable pricing & information

six steps to add value to your car park marketing market projections and feasibility studies risk minimisation management design technology

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