Everyone knows that parking spaces are locations that are designated to park vehicles like cars, motorbikes or cycles. These parking spaces usually have surface markings to designate separate parking places for different vehicles. Automobiles fit inside these spaces, either by parallel parking, perpendicular parking or angled parking.
Depending on the location of the parking space, there are different regulations regarding the time allowed to park and a fee paid to use the parking space. Most of the parking spaces usually charge fees on an hourly basis. Beside this, some of them also have lump-sum amounts for a fixed number of hours. If the parking time duration expires, then you have to pay extra to continue parking, or you might get fined.
Earlier municipal authorities use to construct parking spaces in cities, but seeing this as a great business opportunity, several realtors and builders have also started constructing their own parking spaces. Today, the parking business has become a $30 billion industry and is growing at a very fast speed. Every year billions of investments are done in this industry.
If you are planning to start your own parking space business, the first thing you must keep in mind is opting for quality parking equipment, as these are the things that help in the daily operations of the parking space. There is wide range of manufactures available in the market, but it is better to opt for trusted ones such as ParkingZone, which is considered as one of the best suppliers of parking equipment. The parking lot industry is undergoing some serious trend setting. For more details, please refer to the infographic below: