How to Capture 100% of Your Parking Revenue
Posted: Sept, 21, 2020 9:10AM ET • 1 min read
As someone who oversees the performance of your organization's parking facility, you may be asking yourself: how can I maximize my parking revenue capture?
The short answer is, it largely depends on the type of parking equipment you choose to invest in and the support services you choose to protect it with.
Investing in a gated parking solution
Gated parking systems, commonly referred to as Pay-on-Foot, are the number one way to capture your parking revenue. The initial investment can be substantial, but the return on that investment will never disappoint. A gated system leaves zero room for lost revenue since it gives drivers only one option if they want to exit your parking facility: to pay for parking.
Payment options
A good system provides your customers with simple intuitive ways to pay for parking. Your customers will appreciate it If you make it easy to pay for parking. Payment basics include cash and credit card payments. But look for advanced solutions such as EMV-certified tap-and-go payments for debit and credit and mobile wallet and integrated mobile app payments.
Protecting your operation with ongoing maintenance and support
A proper technology support program is an essential part of your investment. Don’t let cost deter you. A less advanced support solution will lead to greater problems such as a shortened system life cycle and revenue loss.
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ABOUT THE AUTHOR
Bosco Tse
Client Relations Manager
In his twelve years in the parking industry, Bosco has earned the respect of his colleagues and clients alike by being a valuable and dependable resource to address their needs. In his current role at Precise ParkLink, he supports his clients in all aspects of their parking operations, including cost budgeting, financial analysis, project management, implementation, and scheduling. As a believer in continual self-improvement, and demonstrating his willingness to challenge himself to serve his clients better, Bosco recently earned his project management certificate from Ryerson University, and is currently working toward his PMP designation.
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