Out of hours parking and how it impacts your bottom line

From soaring bills to the cost-of-living crisis, businesses across the UK are under continuing strain at the moment and need to make changes to stay ahead. Navigating these challenging times means every available resource a business has at its disposal needs to be used effectively.

Sometimes that means some creative thinking, or making more of assets you might have overlooked.

For example, if your business only operates between 9 am and 5 pm that means there are 16 hours where your car park is standing empty and unused, instead of making you money.

That presents your car park and your business with a massive opportunity.

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Turn your quietest periods into a revenue opportunity.

While your business is closed you could still be making money from your car park.

The demand for car parking spaces has never been higher. Paid parking or pre-booking could let you capitalise on available space and access an unrealised revenue stream. Paid parking can be flexible, with dynamic pricing allowing you to have paid parking in place with peak and off-peak pricing, or even pricing during specific hours.

If your car park is near to other businesses, or popular locations, turning your car park into extra parking for the public can be a great way to capitalise on the demand for extra parking. For example, if your business is closed on a weekend but is within walking distance of a football ground, on a matchday you could open your site up as extra parking to help fans.

In locations where parking is at a premium, or there are businesses near to yours that are open later, such as restaurants, cinemas, or other attractions. Your car park could be a perfect overflow or convenient parking place.

How do you capitalise on your surplus parking?

There are two main ways to do this.

Firstly, simply providing paid parking during specific times. This can be done in several ways:

Pay and Display
Mobile Payments
Online Payments
Permits

The other option is to provide pre-booking. Pre-booking allows you to make some or all of your car park available to motorists looking for space in your area. The process is simple and keeps you in control of your car park.

You list the spaces you want to make available (and importantly when you want them to be available)

Motorists looking for parking find those spaces
They arrange the duration of their stay and pay for it
You get 100% of the revenue

You can turn the system off too, meaning if you needed your car park for another reason, such as a school or college having an open day on a weekend for instance, you could make sure there was space for the staff and visitors you were expecting, without causing problems for other motorists.

Maximise revenue potential

Find out more about how we can help increase your car park’s revenue potential here

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The impact on your business

Accessing paid parking revenue when you previously didn’t can have a huge impact on your business. That revenue is generated with no additional work on your part, and the equipment to provide those solutions, depending on the supplier, can be installed at little to no cost.

That revenue can be reinvested back into a business, allowing you to expand, add to services, take on apprentices and improve what your business is already capable of.

Helping you unlock the potential of your car park

At Parkingeye we understand the pressures that businesses are feeling, and have cost-effective solutions that can help access new revenue streams and help support your bottom line.

We can help you make the most of your car park, with reliable solutions backed up by dedicated account management that supports your site, helps optimise your solutions and allow your car park to reach its full potential as an asset for your business.

To find out more about how we can help you, get in touch using the form.