Starting a Parking Lot Business
By Eric Hammer
The parking lot business is one that seems to attract a lot
of entrepreneurs. After all, how hard could it be to start up
a parking lot? Just find yourself an empty lot, buy it, get the
zoning permits and voila – you’re in business. Well,
it’s not quite that simple. You also need to have just the
right location – a place without a lot of street parking
where people actually do want to go regularly for example.
You also need to have a space that’s big enough to build
your parking lot or you’ll have to spend serious money to
invest in building underground parking and or purchasing stackable
parking structures, commonly used in New York City. In addition
to all that, you will also need to hire parking attendants (unless
you plan on running a self service lot – these are easier
to run, but also make less money).
Finally, no matter what you do, even if you find a lot which
is ready to be used as a parking lot, you’ll need to find
out about zoning laws in your area. There may very well be a
reason why that that lot has never been turned into a parking
lot until now.
Of course, another option which you may want to consider is
working on leasing space temporarily for special events. For
example, empty lots in the South Bronx within a few blocks from
Yankees Stadium are often rented out temporarily when there is
a game while the space remains empty and unused the rest of the
year.
How Much Can You Make?
Working as a parking lot attendant (i.e. doing the parking
lot business for someone else) typically means earning a salary
in the range of between $15,000 to $25,000 per year. However,
the amount you can make from owning a parking lot really is a
matter of where your parking lot is located and how much time
you are willing to spend working at building your business each
day.
Ways to Make More | Related Opportunities
| Tips
The thing to remember when you are working in the parking
lot business is that you are in a service business. The better
your service and the cleaner your parking lot is, the better
you’ll do at making a living in your new business.
Other possibilities for earning extra money from this kind
of business include things like supplying parking lots with the
equipment they need (for example, the stackable parking slots
mentioned earlier). You can also expect to earn money from tips
if you offer a full service parking lot where people wait for
their car to be brought around.
Finally, you could also consider running a valet service.
In this case, you work at a restaurant or an event hall and park
cars for people coming in, then go and fetch them later.
Qualifications / Requirements
The only requirement for running a parking lot is that you
have a driver’s license and even that is not necessary if
you hire attendants to work with you or you have a self service
parking lot. You will also need to make sure that the area you
are working in is zoned for a parking lot.
First Steps
Start by scouting out good locations for your new parking
lot business. Consider working for a time as an attendant for
someone else as well so that you can learn more about the business
and what it involves.
Resources
Business.Gov: Starting a Parking Lot Business
– A web site from the United States Government with some
good information on starting a parking lot business.
National Parking
Association – The official trade representative for
parking lot attendants and owners in the United States.
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