The document outlines the genesis and validation of an idea for an online parking reservation business. Customer surveys found that people are willing to pay more for guaranteed parking spots and will reserve spots online. An MVP was launched with one parking lot partner which generated over 50 reservations in a few months without marketing. Based on this initial validation and industry expert feedback, revenue projections estimate the business can generate millions in revenue within a few years.

2. Genesis of the Idea

3. Business Model Canvas

4. Assumption of Customer Pain
200+ People were
Parking is a pain! customers People DO want Bigger Pain even more
People want a a guaranteed frustrated with
guaranteed spot & would parking at big
parking spot. reserve online. events.
80% positive response

5. Business Model Canvas

6. Assumption of Customer Pain
200+ People were
Parking is a pain! customers People DO want Bigger Pain even more
People want a a guaranteed frustrated with
guaranteed spot & would parking at big
parking spot. reserve online. events.
People will pay Surveyed 75+
extra to have a Customers People will not
great, only pay more,
they will pay a lot Validated!
guaranteed
parking spot. more! ($9+)

7. Business Model Canvas

8. Customer Survey/Validation
• How much more would you be willing to pay
to have a guaranteed close parking spot in the
arena's lot or near the arena?
– On average- $9.33
– Max of $27.00
8

9. Assumption of Pain
200+ People were
Parking is a pain! customers People DO want Bigger Pain even more
People want a a guaranteed frustrated with
guaranteed spot & would parking at big
parking spot. reserve online. events.
People will pay Surveyed 75+
extra to have a Customers People will not
great, only pay more,
they will pay a lot Validated!
guaranteed
parking spot. more! ($9+)
30+ People It is difficult to
People who have
get a mass We needed to
extra spaces will
number of find a new
post spots and
people to post solution.
make money.
enough parking
spots.

10. Expert Validation
• Tom Lombardi and Greg Bessoni
– Online parking reservation experts
Partnered
with me and
put up
capital.

11. Business Model Canvas

12. New Assumptions
30+ Parking
Parking lots will Lots Yes! Lots have Bigger Pain
post spots online been looking for
so that people ways to increase
can reserve revenue and fill
them. up lots.
75% positive response
20% of cash
goes missing.
Electronic 30+ Parking
payments in Lots
advance through Loved it! Would
an online pay about 15% of Validated!
reservation posted price.
system.

13. Industry Validation

14. Business Model Canvas

15. Business Model Canvas

16. MVP Validation
All Pro
Parking 30+ person
Started with a Easier ways to Search process
very basic (30 lots) focus group
post parking & was too hard.
reservation track Wanted mobile
system. reservations. site as well.
All Pro
Parking’s
Customers
With no
marketing- Made it even Fixed search,
50 reservations easier to post cleaned up site,
in just a few and track mobile site in the
months. parking. works.

17. Business Model Canvas

18. Business Model Canvas

19. Our Model
15% of Price
$5 Reservation Paid
Fee XoomPark
We estimate being able to collect about $8 per reservation

20. Go to Market Strategy & Validation
25+ years
Talked to Tom
Lombardi, experience
industry expert.
Over 250 lots throughout Lots located all over West
Eastern US. Coast and Texas
Lots located throughout
Parking lots in all 50 states
Florida and in Dallas,TX

21. Go to Market Strategy & Validation
Tom and Greg’s
Affilate Networks
3,000 Affiliates

22. Go to Market Strategy & Validation
Focus
group of
30+ people
Customer’s
recommendations
for the future

23. Market Size
$8.2 Billion USA Parking Industry
TAM
SAM $4.5 Billion Parking
Facility/Management
Target
Market $1.4 Billion Event Parking
Apex $240,000 Buffalo and
Atlanta

24. Competitors
High
ParkingCarma
ClickandPark
Usability GottaPark
Parkwhiz
Low
Low High
Reliability

25. Revenue Projections
Revenue
$20
$18
$16
$14
$12
Revenue in
$10
Millions
$8
$6
$4
$2
$0
Year 1 Year 2 Year 3 Year 4
70% Gross Profit Margin

26. •2 Partners
•30+ Parking lots
•50+ Reservations
•Working Website
•Validated Revenue Model