This business model caters to the parking problem faced by concentrated cities like New York, Mumbai, Miami, LA, London, etc. The problem faced by the people is the unavailability and uncertainty of finding a parking spot which saves them time, money and ensures the safety of the car.
ParkEezy attempts to solve this issue by creating an app platform which will allow parking spot owners to rent out their personal unused spots to others visiting their area when the spot owner is not parked. This helps the visitor conveniently enjoy the trip and make the most out of their time while saving money and also get some monetary benefit for the unused spot for the parking spot owner. ParkEezy earns by either taking a commission from the transaction or enabling customers to have a monthly/yearly subscription.
Secondary part of the business is collaborating with event organizers, restaurant chains, and cinema chains to increase their footfall as they can offer parking convenience to the customers which makes the customers journey easier.
The advantage of parking in a guarded residential or a complex is that it is safer, convenient and cheaper because it is usually governed by building managements that ensure ease to its customers.
Parking is a 30B$ market and a problem that has not been addressed with a unique solution due to which there are no direct competitors to ParkEezy.
This solution can potentially also clear clutters on the street, traffic congestions and auto-theft related crimes.
At ParkEezy, we help you find the right spot!
Founded by Janam Shah, SEAS