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Businesses are using parking to ramp up revenue



Apps | Small Business | Software | Tech

By Loren Webb

The new Parkable app is making use of empty business spaces

A new shared economy platform is connecting businesses who have vacant parking spaces with people looking for parking… and businesses are making the most of it. 

Businesses are able to list their vacant parking spaces on a very flexible basis using the new innovative app and earn extra income on the side, rather than having unused in-demand spaces going to waste. It’s another example where technology is enabling businesses to make more profit, but this time it’s all about thinking very much outside of the box (well, the office at least).

Mike Davis at Parkable says “Parking is increasingly difficult and expensive to come by and many businesses and organisations have unused parking spaces in high demand, central locations.”  Many businesses in the city centre have lots of parking for staff, and now on days off including sick days, weekends, evenings and annual leave, companies can pump money back into the organisation by renting our their spare spaces.

Instead of unused parking spaces gaining no financial value, companies are now taking advantage of all the out-of-office times that spaces are available for hire. As the demand for parking continues to grow, this is a good new source of revenue for businesses.

Office buildings, churches, hotels, gyms and restaurants all have car parks sitting empty at some time of the day and can now think creatively about how to generate more income.

With businesses of all sizes and across all industries able to access reap the rewards of unused parking, and with the extra bonuses of setting their own prices and times, this is a viable option for big companies, SMEs and also an option for budget-conscious start ups who have parking spaces in a desirable location.

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