If a mobile app concept addresses an issue, it’s worth investing in. Does this, however, apply to smartphone applications for parking? Is it worthwhile to develop a mobile application that addresses parking-related issues? Before making an investment in a concept, it is important to verify it. Let’s do that, then!
According to a research, drivers in the United States spend an average of 17 hours annually looking for a parking spot. Additionally, the time, gasoline, and emissions associated with this parking place quest cost each motorist $345. The top ten US cities where drivers spend the most hours each year looking for a parking space are listed below.
As a nascent business owner, you must be considering how to address this significant issue and make a healthy profit. Building a strong parking mobile app that offers a decent value proposition to those struggling with parking issues is the answer.
You now know your “Why,” therefore it’s time to figure out “How.” How can you create a parking mobile app? To address this issue, let’s go further and get a better understanding of the nature of these parking mobile apps, their operation, and the most effective approach to developing them.
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How Do Mobile Apps for Parking Operate?
You must first understand how the user experience will be if you too want to develop a lucrative parking mobile app business. To quickly reserve parking spaces for their car, users of parking mobile apps take these easy steps:
Search: Users of parking mobile applications may manually type or use GPS to input the location of their car. This aids them in locating the closest parking space for their cars.
Compare: Users of the parking app have access to a variety of parking alternatives. The cost and distance from the car location allow users to evaluate different possibilities.
Reserve the Spot: In accordance with the comparison above, car owners may reserve the parking space of their choice and thereafter get a passcode.
Payment: Customers have the choice to pay with cash at a later time or with their cards when making reservations.
Driveaway: To get to the parking space, users may also use the app’s built-in navigating aids.
Park the automobile: The driver is now able to park the automobile at the designated spot.
What is Parking Mobile Apps’ business model?
You must first investigate the operational business models of your rivals in the parking market if you want to create a profitable parking mobile app endeavor. Parking mobile apps are often designed using one of three business models. They are:
1. Using Navigation
Users of parking mobile applications built on this business model may discover a parking spot close to where they are driving. These parking applications do not allow users to reserve a place in advance of their arrival at the location.
Even so, these applications may be really helpful when looking for a place in a packed parking lot. Additionally, it has been discovered that this kind of parking app is most suited for creating a minimal viable product for any new app.
Examples of parking smartphone applications that operate using this business model include BestParking, Parker, and ParkingRhino.
2. Navigation and Reservation-Based
The most widely used kind of parking mobile application on the market is this one. Before they arrive at the location to park their cars, users of these applications may locate and reserve a parking place. Additionally, the app’s built-in navigation feature directs users to the reserved parking space.
Users of these applications have a variety of payment choices, such as using a card, cash, or other digital payment gateways. Additionally, consumers benefit from additional parking time or navigational support as they exit the parking lot.
Some parking smartphone applications that operate on this kind of revenue model include SpotHero, ParkMe, and ParkWhiz.
3. Full-Service Parking
A comprehensive parking solution is provided by this category of parking apps. Despite being an expensive business strategy, it has the ability to eliminate all of its consumers’ parking woes. Users quickly sign up for these service applications because of this.
With the help of these applications, a user may reserve a parking spot in advance for the time and place of their choosing. The user’s car keys are collected by a valet, who then parks the vehicle at the designated location.
Once again, the valet returns the keys and returns the vehicle to the owner when the allotted parking time has passed. Users have the chance to examine the valet credentials and analyze information in order to increase their confidence in the service.
Examples of applications that use this kind of business model include Luxe, ParkAlto, and NEX Valet.
Following our discussion of the most common parking mobile app business models, let’s go on to discover how a parking mobile app-based company makes money.
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How Parking Apps Make Money: Revenue Structure
The improved user experience a company model offers its clients may be used to gauge its performance. The increase in income generating may be attributed to this. There are four potential income sources for a parking mobile app. Among them are the following:
1. Commission for Each Reservation
This is a significant source of income for a business that uses a parking mobile app. The parking owner charges the user a fixed price for each reservation made for a parking place in a certain parking location. The proprietor of the parking app receives a portion of this sum as a commission for utilizing the app’s booking platform.
2. Memberships
Paid subscriptions are another significant source of income. Users of your parking app may choose to pay for monthly subscriptions in order to make reservations in advance. Users may avoid paying each time they use the parking app in this manner. Thus, using subscriptions may boost your income in addition to providing a better client experience.
3. Points for Reward
Giving consumers reward points for consistently using your parking services is another excellent strategy to monetize your parking mobile app. This might draw a devoted user base to your software, which would allow you to guarantee consistent income generation.
4. Parking Owner Marketing and Branding
Running a marketing campaign for parking lot owners is another way for a parking app firm to earn additional cash. If a parking owner wants priority listing on your parking application, you may charge them a particular price.
The Features of the Three Essential Elements of a Parking Mobile App
Make sure you are improving the ease of a daily commuter if you want to develop a parking mobile app. This is made feasible by including features that are easy to use, which will enable users to quickly locate a parking spot among the congested lots.
Three elements must be developed in order to properly fulfill everyone’s demands when creating a parking mobile app. These consist of:
Panel of Users
Owner Panel for Parking
Admin Panel
Eight Essential Features for a Parking App’s User Panel
Your parking mobile app’s user interface will assist users in finding a nearby parking spot and making a reservation with a single tap on their smartphone. The following features must be included in your app’s user panel in order to provide your customers with a flawless parking experience:
The simplest aspect of a parking app is registration. This feature allows users to fill up their personal information and register for the application. You should think about allowing app users to register using their email addresses or social media accounts in order to improve user experience.
Monitor position: Your app’s built-in GPS navigation feature allows users to monitor the position of their car at any given moment and determine how far away a parking spot is from them.
At order to allow users to reserve their preferred parking space at a certain area the next time they use the app, you can also include location tag capability into your parking app.
Another feature that will determine how engaged users are with your parking mobile app is the search option. A parking app’s search function enables users to locate parking spaces in a certain city, location, or parking area and choose the one that best suits their needs.
Estimated Time: Your parking app should allow users to enter the time they arrive and leave from a parking space in order to provide them with an estimate of the cost. The user is informed of the costs for which the parking space is utilized based on the time difference.
The parking mobile app’s booking option is its most crucial feature. Users may reserve a parking space using this service before they arrive. To help consumers choose the best parking spot within their budget, you might include a pricing comparison option in this feature.
If users of your app intend to visit that location soon, you may allow them to reserve a parking space well in advance. By doing this, you can improve the user experience and guarantee a higher degree of engagement.
Payment methods: You should include the most payment methods possible for parking space reservations in order to provide your app users with a comprehensive parking service experience. Cash, credit card payments, and other online payment methods should all be included in this.
Parking History: This parking software feature allows users to record the most often utilized parking spaces they have and the associated costs. Users may then use their parking history to reserve the same place again.
The most helpful element for increasing user engagement may be ratings and reviews. Every time they reserve a parking space using the app, customers may provide feedback about their experience by using the rating and review features. The reviews that other users have left for a certain parking spot might also assist consumers in making decisions about which option to choose.
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Six Essential Elements of the Parking Owner Panel
Parking lot owners may accept booking requests and get information about the parking space they must provide after a booking is confirmed thanks to the parking owner panel. The features shown in the user panel may share certain characteristics with the parking owner panel.
Registration: Using their email address or social media credentials, parking lot owners may register and establish an account on the parking app.
Add Parking Slots: This feature allows a parking owner who has registered on your app to control how many spots are accessible in their lot.
Manage Pricing: With the help of this feature, the parking owner may control the cost of the space according to the demand for the space and the total amount of time the reservation is made. Depending on the kind of car parked, they may also impose parking fees.
Check Bookings: The owner of the parking lot may see how many reservations have been placed there. In this manner, they may determine whether to approve or reject a parking request by considering the status of previous user requests.
Accept Payments: Every time a user reserves a space in their parking area, the parking owner who is registered on your parking app may receive the payment dues from the administrator using an integrated payment gateway.
Reviews and Ratings: The parking owner may enhance customer satisfaction with their service by using the rating and review option.
Five Essential Features for a Parking Mobile App’s Admin Panel
Typically, a parking mobile app’s admin panel is a web application that controls the user and parking owner panel’s functional aspects. It provides a summary of how the program works, makes payment processing easier, and aids in the usage of user data for marketing. A parking app’s admin panel has the following features:
User Management: To provide users with a smooth and hassle-free parking experience, the administrator may control user activities such as the quantity of app users, their transaction history, payment information, etc.
Parking Management: This feature assists the administrator in managing parking owner-related tasks, such as adding a certain parking owner to the application. Additionally, the administrator may control the fees that parking owners charge app users.
Control Reservations: This feature enables the administrator to control user reservations for parking spaces according to demand, cost, and quantity of parking spaces.
Handle Payments: With this functionality, the administrator may additionally control the app’s payment system. As a result, the administrator may monitor the quantity of cars parked, the amount paid to the user, the amount subtracted, and the total amount paid to the parking owners.
Manage Offers: With this tool, the administrator may oversee reduced reservations and special offers that are tailored to the preferences of the user. To boost app engagement, an administrator may schedule offers and discounts to be sent to users from the admin interface with just one swipe. Additionally, this functionality will assist administrators in growing the parking app’s user base.
To make your parking app seem more interesting, you could choose to include additional high-end features like Push Notifications, Heat Map, Multi-language Support, and Waiting List in addition to the essential elements listed above.
Despite being expensive, these features may make your parking software stand out from the competition and increase the number of devoted users. After learning what features a parking app offers its consumers, let’s attempt to determine which technological stack is used to create a parking mobile app.
The Parking Mobile Apps’ Tech Stack
The technological stack that you will need to employ should be one of your top priorities when you begin developing your parking mobile app. Your parking app’s usefulness and scalability will be guaranteed by its tech stack.
It is advised that you first create a Minimum Viable Product for your parking mobile application in order to have a successful business plan based on its development.
Based on our experience creating these kinds of applications, we suggest that the most lucrative strategy is to create an MVP first, then add more features when your parking app gains traction. When you take into account the potential for development and the cost, this is the ideal approach to launch your parking software.
After learning about the technological instruments used in the creation of a parking app, let’s go right to the question of how much it costs to produce a parking mobile app.
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How Much Does It Cost to Create Mobile Apps for Parking?
To be honest, nobody finds it easy to provide a precise budget for developing a parking mobile app. We mention this because the pricing often fluctuates based on the customer’s needs, the app’s business model, the features the client plans to add, and the tech stack we will need to utilize.
