Six ways for car park owners and operators can add value to their car park and maximise the performance, and ultimately the revenue, of this valuable property asset.

1. six steps to
add value to
your car park

2. six steps to add value to your car park
marketingmarketing
market
projections and
feasibility
studies
market
projections and
feasibility
studies
risk
minimisation
risk
minimisation managementmanagement
designdesign technologytechnology

3. step one: design
Good design creates more spaces and offers visitors a better parking
experience

4. step one: design
Essential features of good car park design
• Pedestrian walkways & elevators
• Clear, colour-coded signage
• Adequate lighting
• Paint all surfaces
• Good security
• Split level car parks: clockwise traffic
• Large car parks: one-way counter-clockwise perimeter traffic, two-way in subsidiary aisles
• Easy manoeuvrability
• Entry & exit routes: logically placed, adequate capacity

5. step two: technology
Updated access control technology maximises revenue and user convenience

6. step two: technology
Control solutions must be designed
specifically for the site and operation
• Reduce labour costs – use automatic
paystations with credit card facilities
• Integrate with other systems, e.g. security,
CCTV, intercom help points
• Improve reporting to reduce revenue
leakage
• Help prevent fraud
• Monitor multiple unmanned car parks from
single remote location

7. step three: market projections and feasibility studies
Conducting a study into car park efficiency and income projections can
identify means to maximise income from each parking space

8. step three: market projections and feasibility studies
Conduct a market study on the
efficiency of your car park and project
future income
• Research your local market and identify
opportunities for additional revenue
• Establish earning capacity of each space
• Analyse parking statistics regularly
• Review structure of expenses and operational
hours
• Update pricing strategies, e.g. early-bird and
free parking offers
• Identify ways to maximise income from each
parking space

9. step four: management
The right car park management will ensure customer satisfaction and
profitability

10. step four: management
Review your car park management
options
• Review the best option for management:
in-house, operator management contract or
lease to an operator?
• Pros and cons of leasing and management
contracts. Operators will always focus on
leases. Caution regarding management
contracts
• Management fees should be related to
combination of financial and service related
KPIs
• Implement periodic contract reviews

11. step five: risk minimisation
Protect your car park from revenue leakage by minimising risk and human
interactions

12. step five: risk minimisation
Revenue loss is often the result of
negligence or lack of understanding.
• Car parks are fraud targets: 15% revenue
leakage not uncommon
• Leakage is often result of negligence or
“being kind” to customers. May be attributable
to customer, employee or management
company
• Reducing human interaction by automating
cash collections will minimize leakage
• Equipment features often not fully utilised
because operators fail to implement
appropriate systems

13. step six: marketing
Implement a marketing campaign to drive customers to your car park.
Higher occupancy = higher revenues.

14. step six: marketing
Never underestimate the power of good
marketing
• Implement a Direct Marketing campaign to local
businesses (retailers, service providers and
venues) within 300-500 metres walking distance
• Letterbox drop, public display signage, email
campaign, online marketing, local paper
advertising etc
• Incentives to attract short-stay parkers?
• Set and monitor Benchmark KPIs for marketing
• Computerised signage is a powerful marketing
tool especially for variable pricing & information

15. six steps to add value to your car park
marketingmarketing
market
projections and
feasibility
studies
market
projections and
feasibility
studies
risk
minimisation
risk
minimisation managementmanagement
designdesign technologytechnology

16. visit us at
www.parkingconsultants.com
for more information about PCI
subscribe to PCI’s blog for the latest in parking industry
news