Any business company owner will tell you how important a good design is. It’s not only the most essential part of the building, but it can also make your business shine among the others. The same thing is true with your parking garage!
If you are still new in the business, you probably think that all it takes is an empty space, some levelled machines and a few manpower to fill in the opened space and voila! You’re ready to open a parking facility.
Well, it’s not as simple as it sounds. You have to consider the design of your garage and make sure that it provides ease and convenience for your customers. It is a must to have good lighting and ventilation systems. When it comes to security, you need to be really meticulous in making sure that only the right people are coming inside your garage.
Factors to Think about When Starting a Parking Garage Business
1. You Need to Find a Good and Spacious Lot
First of all, establish where you want your business to be built. You need to look for large, sunny and well-ventilated lots. You need to be close to or near the centre of town, away from traffic and with good access to the roads.
There should be a lot of people commuting around that area so that you can have a large number of clients. Lastly, make sure that you don’t have a close competitor in the area so you can have a monopoly.
Another thing to think about is whether you want a simple parking lot or one that is built underground or elevated near office buildings. There are many options to explore, so it’s all a matter of narrowing your choices according to your needs, preference, and budget.
2. Identify and Gather the Equipment You Need
To keep your parking business on track, you need to have good equipment. For example, you need a ticket booth for your ticketing system, an ADT system for crime prevention, a portable toilet, a first aid kit, a fire extinguisher, and a defibrillator. If you don’t have the equipment or the knowledge to use them properly, then it’s better to hire a security service.
3. Understand the Basics of the Legalities
All business owners know that it is very important to have legal permits and licensing before you even start with your business. This is true with the parking garage business as well. For those who are starting a new business, it is recommended to use the services of a company that will help you through the process of securing your permits and licenses.
4. Explore Insurance Options and Apply for the Right One
Any kind of business, including a parking garage business, needs to have insurance. There are three main insurance companies that you can choose from. They are the Property Insurance, Liability Insurance, and Worker’s Compensation Insurance.
These policies will protect you in case of theft and vandalism, liability suits and injuries, and medical payments. The best time to apply for these policies is during the initial stage of establishing your business.
The Bottom Line: The Basics that Pave the Way for a Successful Parking Garage Business
Taking the above-mentioned factors into account, you can start your own parking garage business. Not only will you provide a service to the community, but you will also be fulfilling your entrepreneurial goals.
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