Is Owning a Lakeland Parking Lot Paving Profitable?

Have you ever had a problem with finding a parking lot? This is especially a predicament during rush shopping hours and the holiday season. The horror of trying to find a parking space during the holiday rush is unimaginable. So, what can a consumer like you do? Find the nearest Lakeland parking lot paving. Yes, even if you have to pay $20 to park for a few hours. That seems to be a good deal than circle around the block endlessly.

Parking lots are located in places where street parking is prohibited or if the parking space provided for by an establishment is not enough. Paid parking lots can either be outdoors or indoors. Covered parking areas are more expensive because of the maintenance cost.

Some of the most common parking lots you know are right next to a mall, airport, restaurant, school, event place, and other commercial areas. They are located in areas with high foot and vehicular traffic, especially those that attract large crowds.

If you have a vacant lot that you can turn into a parking lot, this is a profitable business. You can either manage it on your own or hire a manager to operate the parking lot. You can also rent the lot out to companies that manage paid parking spaces. The choice is yours.

Plan It Like Any Other Business

Don’t think of a Lakeland parking lot paving business any less than other business ventures. Plan it the way you would another business. Map out your business goals and consider the costs of starting a business. There is very little initial startup cost to a parking lot business unless you want a covered parking lot. For the most part, you just have to make sure that the land is well-paved, it has ample lights, signs, and markings, and security cameras.

For the more modern parking lots, you also need transaction machines and roving security. If you will opt for multilevel parking spaces, you also need lift gates, stairs, and ramps for the disabled. The cost of building multilevel parking is, of course, higher.

You also have to spend on the permits and licenses you need to start your Lakeland parking lot paving business. in smaller cities, the cost of building a parking lot is less than $10,000. The profit can be as high as $200 per day for a $10 per space per day fee. The bigger your parking lot is, the more profitable it will be.

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