How to make money off a parking lot?

Junkie2

Junkie2

New member
Jul 23, 2010
7
0
0
Long story short, i have 100% access to do whatever I want with a private parking lot that gets full (~150 spaces) thursday/friday/saturday.

the only problem is that the type of people that this parking lot attracts are the drunk hispanic/blacks who go to the trashly clubs near where the parking lot is located. These people are crazy- cops have been called almost every weekend - drug deals - fights - you name it. you DONT want to be in this parking lot at night.

currently, they enter the parking lot for free and tailgate/club until the early hours. My family owns the lot and wants them all out because they break signs/bottles/wreak havoc and then we have to send someone to clean it up. it's a business parking lot for a law firm and hospital during the day but it is used for free during the night by randoms.

The current prospect is just to hire a towing company to deal with it (its free because they tow the cars and charge whoever they towed).


I'm looking for alternative methods to monopolize on the situation. The only thing I have thought of is building a small guardhouse and paying someone to sit and collect 5 bucks a car, but the people are so sketchy that i'm afraid they will hurt someone.

Anyone have an idea to handle this?
 


Junkie2 said:
The current prospect is just to hire a towing company to deal with it (its free because they tow the cars and charge whoever they towed).
Click to expand...

There was some crappy book I read about a dude who owns an envelope company. When he first got into it he was struggling to break even and couldn't work out how any other company was making a profit off the margins. Long story short, he discovered that the company he was paying to dispose of his scrap paper was actually paying other companies for their same waste. The entire profit margin of the company was actually coming from selling their scraps.

So what you should do short term is put up a bunch of legal no parking signs, leave them there for a month, and let the freeloaders settle in. Then contact a towing company, negotiate a kickback for every tow they make, then let the lot build up a reputation as a bad place to park at night.

Once your conversion rate drops from towing too much, go with your guard on duty method and clean up on your new patronage.
 
  • Like
Reactions: fm1234
install a pay parking machine (like a ticket dispenser type system) instead of a person on duty, put a camera up, tow anyone not paying
 
Insomniac said:
There was some crappy book I read about a dude who owns an envelope company. When he first got into it he was struggling to break even and couldn't work out how any other company was making a profit off the margins. Long story short, he discovered that the company he was paying to dispose of his scrap paper was actually paying other companies for their same waste. The entire profit margin of the company was actually coming from selling their scraps.

So what you should do short term is put up a bunch of legal no parking signs, leave them there for a month, and let the freeloaders settle in. Then contact a towing company, negotiate a kickback for every tow they make, then let the lot build up a reputation as a bad place to park at night.

Once your conversion rate drops from towing too much, go with your guard on duty method and clean up on your new patronage.
Click to expand...

This is some good advice, Junkie.

In addition to this - install some security cameras. Skim through the footage and figure out where the large traffic areas are a night, then install some mics on the cameras nearby.

When you start cracking down hard on the night-time loitering - slice up the juicy footage and market some of it on Youtube and generate traffic to a website catering to people who love COPS-type drama on TV. You'd cleanup on that.
 
Turn the parking lot into a flea market, charge $35-$75 a 10x10 space, stay open during the day. Get a guard at night, $10 an hour, get night parking for locals. Or sell the lot and get rid of the headache.
 
Lots of people got rich with parking lots... Buyers will pay high multiples for the steady cashflows (that can be leveraged).

Here's my 2 cents:
- charge the lawyers and doctors who park there during the day
- using the money to build a fence / wall around the lot
- after the fence is up, start charging the nightclub patrons. You'll make money and keep out the people who are causing problems.


btw - this thread should probably be moved to STS
 
TylerDurden said:
Sell burritos, fried chicken, and 40's. Bank.
Click to expand...


10diqf6.jpg



Put credit report flyers on cars. put dating flyers on cars. this is after you charged 7 bucks to park
 
get a hispanic/black guard too, and not a white one. This way the people at night can relate to the guy who is charging them to park.

"yo man, the white people always holdin us down, its $5 to park here now"
 
@Insomniac: Stellar post, rep added

@junkie2: You are never going to "regulate" that crowd. All you can do is run it off or pass the problems on to someone else. Insomniac's idea is probably your best bet.


Frank
 
bauss said:
install a pay parking machine (like a ticket dispenser type system) instead of a person on duty, put a camera up, tow anyone not paying
Click to expand...

This says it all... basically do what any other big city parking lot company does... leave it up to the robots, pay no employees, and make a fortune.

Now if your tow truck drivers start getting shot however... which might happen if they try to take a car away from some all night partiers... report back!
 
You must log in or register to reply here.
Top Bottom