General Parking stand business is profitable or not? What are your reviews?

[Ralphjoe]

Well it's always imperative for you to do a thorough research on your intended business before you start it, you need to ask questions, go to government Ministries and agencies and ask them question about the business before you start.

 

[EMMANUEL]

What are the costs involved in opening a parking lot business?
Initial startup costs include the rental or purchase of the lot/garage, purchase or lease of equipment, such as transaction machines, lift gates, and security cameras. Garages are more expensive, and costs are much higher for multilevel garages equipped with elevators.

In smaller cities, it is possible to start with a single small outdoor lot for less than $10,000 in startup capital if you lease the land. An indoor garage can cost many hundreds of thousands of dollars and upwards to millions depending on its size and location.

 

[Erik4150]

It is a very good business and I think you should consider starting it. Since you live in a big city with population density, there's a good chance that you are going to make a lot of money. This business will not require heavy capital. Five plots of land will be enough.

 

[Richard92]

The business is lucative with little or know risk if you are very concious. However sometimes if you are not careful enough cars can be missing or stolen in your general car park, so if you are person who is into such business you must always give the cars tag so that cars will not be easily stolen from your car parks .

 

[Rimsha kanwal]

In Pakistan there is always big issue of lack of parking stands in cities. I want to know about your opinion what if I plan to start a business to build a general parking stand.
I think it is a one time investment business I just have to buy a land for parking and then I can earn for life.
Is it so easy to initiate it?
I need your kind and experienced reviews, what difficulties could I face if I start this business.

Parking lots are located in places where street parking is limited and there is plenty of automobile traffic. Parking may be offered in exterior open lots or in interior secured garages.
Parking lots are found in commercial areas, next to airports, near hospitals, adjacent to schools, and near event spaces that attract a large crowd.
There are two facets in the parking lot business. One is the owning and operating the parking lots and the other opportunity is managing the parking lots on behalf of other owners.
Learn how to start your own Parking Lot Business and whether it is the right fit for you.

 

[Janita]

If I talk about my country so this is the biggest issue going.
There is lack of parking in my country as the cities are full of traffic and traffic is increasing day by day due to population.
As the work is really profitable from my perspective because there is a need of parking stand in my country and it will give the best profit to the person who will start this work.

 

[MarieArie]

Hotel owners and managers spend tremendous time and energy looking for strategic ways to make the most of their hotel asset. What they often fail to look at is that the hotel itself usually sits in the middle of or adjacent to a large parking facility. This facility often takes up as much real estate, if not more, than the hotel itself. But because parking is outside the core focus of the industry, parking facilities are rarely strategically managed.
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Hotel owners and managers spend tremendous time and energy looking for strategic ways to make the most of their hotel asset. What they often fail to look at is that the hotel itself usually sits in the middle of or adjacent to a large parking facility. This facility often takes up as much real estate, if not more, than the hotel itself. But because parking is outside the core focus of the industry, parking facilities are rarely strategically managed.

 

[Pirate]

Well, a parking space really sounds like a great idea but abfew things have to be put into consideration.
First is land, a wide expanse of land is needed in order to start such business, you have to make sure you have the funds to secure a vast area.
Also location, the parking space has to be close to a loy of popular vacation centres, recreational centres and parks, to be sure of patronage.

 

[Adeyoola7]

Finally, parking spaces are cheap compared to housing and present a more affordable opportunity for real estate investment. “It is actually a very good investment for small investors,” Sinclair said. Buying and selling parking spaces is a relatively simple process and transactions can take place relatively quickly
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Finally, parking spaces are cheap compared to housing and present a more affordable opportunity for real estate investment. “It is actually a very good investment for small investors,” Sinclair said. Buying and selling parking spaces is a relatively simple process and transactions can take place relatively quickly

 

[Trexxxy]

It should be profitable I don't know the lay of the land in your country, since you have written that most of the business buildings don't have a general parking space, i suggest you go for it partner up with people and start working on it, since you will be solving a peculiar problem, definitely a good business idea.

 

[Taimoor Jutt]

Yes there is problem of parking either cars or motor bikes in Pakistan. Almost in every institute you can see this problem and need of this thing at least in Pakistan. But it depends the location and land where you want to purchase this. If that is in the government institute it can not be purchased but only contracted .

 

[Da ma]

General parking us very good
Because it is not limited. It is a very lucrative business, infact, it is a very profitable business. You can easily make enough profit from the business in a short time

 

[Abibatabosede]

Dealing in parking space business is sensible and will bring a great profit. The most important thing in this business is to study the environment which lack this facility like a market and other commercial centres or amusement park.