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 iParked.ca: |
 Overview |
| Case Study |
| My Parking |
iParked.ca > Case StudyMost of the parking sites experience revenue loss due to inefficient management of the parking spots. Very often parking ticket or non-expired parking time is shared. In our research conducted on a sample of 50 parking meters observed on 5 different times, there was in average 20% of available meters with at least 10 minutes on them. This means an average loss of $0.50 in revenue on 20% of meters only at one given time. For an operation of 6000 parking meters that means minimum daily loss of $600, which corresponds to yearly loss of around $160,000.00. One could argue that this number is even larger 2-3 times as parking meters becomes available many times during a day.
It is also difficult to check for parking infractions too often. The text messaging parking solution allows for convenient parking extensions, and therefore mimimizes revenue loss for overrun parking spots. In our research conducted, there was in average 30% of occupied parking meters with expired time without parking ticket. If the expired time is at least for 10 minutes it means loss of $0.50 in revenue per parking meter. For an operation of 6000 parking meters that means minimum daily loss of $900, which corresponds to yearly loss of $240,000.00. One could argue that this number is even larger 2-3 times as parking meters becomes available many times during a day.
Similar results as above are observed on a parking operation that uses park and display parking solution.
If you are interested in iParked.ca text messaging parking solution for managing your parking operation please contact us for more details.