Maximising revenue from car parks can be difficult for businesses. However, you can boost your earnings from the parking lot through a variety of methods. This article will discuss five methods in which a parking management business, such as LHN Parking, may assist you in increasing your carpark's earnings.

 

#1. Keep Track of Parking Rates

If you want to make the most money possible out of your parking lot, keeping track of parking fees is essential. This requires an examination of such metrics as occupancy rates, mean parking times, and revenue per space. By doing so, you'll be able to more easily identify patterns that can inform your pricing strategies. You can maintain a competitive and appealing parking rate by monitoring the market.

 

#2. Hiring a Parking Management Company

Another effective way to increase your carpark revenue is to hire a parking management company like us, LHN Parking. With over 16 years of experience in the industry, we are expertise and experience to optimize your carpark operations, improve customer experience, and maximize revenue. We provide a range of services, including parking enforcement, security, and revenue management. With the help of a us, you can focus on your core business while they handle the day-to-day management of your carpark.

 

#3. Provide Hourly and Season Parking

Offering both hourly and season parking options can provide flexibility to customers and increase revenue for the car park. Hourly parking is suitable for short-term stays, while season parking is ideal for customers who require regular parking. By providing both options, car park owners can cater to a wider range of customers and increase their revenue streams.
 

Additionally, offering season parking can provide a more stable and predictable source of revenue for the car park owner, as customers typically pay in advance for a set period of time.
 

Our parking management company offers a user-friendly app, LOT$ app, that allows drivers to easily purchase, renew, and terminate season parking from their mobile devices.

 

#4. Install Parking Guidance Systems

Parking guidance systems guide drivers to available parking spaces in a car park. It aims to make it easier and faster for drivers to find a parking space, reducing the time spent driving around looking for a spot and improving the overall customer experience.

 

Parking Ultrasonic Sensors

Ultrasonic sensors detect open and occupied spaces, and RGB indicators display space availability to drivers.

 

Digital Lot Availability by Level

For properties with multiple parking areas, a multi-facility sign announces the number of available spaces at each garage or lot.

 

Directional Parking Signage

These advice signs allow a parker to make on-the-spot options (left, right, or straight) based on available spots after committing to a level.

 

#5. Value-Added Services

Finally, you can boost carpark income by providing value-added services like electric vehicle charging. Having charging stations available can bring in more consumers and money as the demand for EVs rises. Your company's reputation as a caring, environmentally conscious entity can get a boost by facilitating EV charging.

 

In conclusion, increasing your carpark revenue requires a strategic approach that involves analyzing data, optimizing pricing, and providing value-added services. Hiring a parking management company like LHN Parking can help you to achieve these goals and maximize your revenue potential. Contact us today at enquiry@lhnparking.com.sg to find out how we can help you to increase your carpark revenue and enhance your customer experience!