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Co-founder Michael Nuciforo Shares Parking Solution for Inner Cities

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Xue Qian

Michael Nuciforo co-founded a company that addresses the problems of finding, frustration with, and expense of parking by connecting those with unused parking spaces and drivers looking for parking. The business model takes a 10% commission on average $550 bookings, generating $55 in revenue. There is a large market potential as 184k properties have unused parking worth $1.3 billion in Australia. The team is growing the number of parking spaces, sessions, and revenue by 30-65% monthly with over 20,000 sessions and 2,000 spaces.

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Michael Nuciforo Co-founder
Problem Parking is hard to find Parking is frustrating Parking is expensive
Solution Residential Commercial On-street
Business Model $550 avg. booking 10% commission x = $55 revenue
Market Size 184k inner-city properties with unused parking $130 Billion Worldwide $1.5 Billion Australia
The Team Louise Robert Michael
20,000+ MONTHLY SITE SESSIONS 2,000+ PARKING SPACES $1k WEEKLY EARNINGS Sessions growing at 30% Revenue growing at 40% Performance Parking spaces growing at 65%
New income from underutilised commercial parking spaces Opportunities Off-street parking provided in previously untapped locations
Competition Australia International Off-street Residential Off-street Commercial On-street Payment On-street Search
MAP

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