Thinking about opening a parking services business? We tell you what you need to know to get started.
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Characteristics of a Good Parking Services Company Business Plan
Looking for a one-size-fits-all business plan? Good luck. . . because it doesn't exist. However, the most effective business plans do address specific sound business plan elements:
- Mission Statement – A foundational statement of your company's direction and strategy.
- Goals & Objectives – A list of mile markers on your parking services business's road to success.
- Financial, Marketing & Action Plans – Each of these plans covers a specific aspect of your parking services business's strategy and direction.
Review the Competition
Well in advance of opening a parking services business in your town, it's a smart move to see how strong the competition is. Use the link below to find competitors near you. Complete the form by entering your city, state and zip code to get a list of parking services businesses that are close by.
If there's too much competition, it may be wise to consider starting the business in a less competitive marketplace.
Finding a Non-Competitive Business Mentor
If you want to open a parking services business you really ought to have a conversation with someone who is in the business. If you think owners of nearby parking services businesses will give you advice, think again. Why would they want to educate a future competitor?
However, a fellow entrepreneur who has started a parking services business in a different city will be much more likely to talk with you, once they realize that you are not going to directly compete with them in their community. Many business owners are happy to give advice to new entrepreneurs It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
How would you find an entrepreneur who is running a parking services business that lives outside of your area?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
Three Arguments for Buying a Parking Services Business
It's almost always preferable to buy a parking services business than to pursue a parking services business startup.
Although buyers should always perform thorough due diligence, there at least three reasons you should consider a parking services business purchase as your entryway to business ownership.
- Initial Revenue. With a business purchase, you'll have the ability to buy a company that is already operating in the black.
- Operational Efficiency. When you're shopping for a parking services business, be sure to look for ones that have all of the necessary processes and systems to ensure seamless operations from your first day of ownership.
- Capital Acquisition. Lenders, investors and other funding sources almost always prefer business purchases to startups.
Don't Forget About Franchising As an Option
Your odds of being a successful business owner zoom upwards if you decide to franchise rather than going it alone.
If you are thinking about opening a parking services business, a smart move is to assess whether franchise opportunities in your space might simplify your entering the business.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you currently own a parking services business, these resources will come in handy:
If you came here to learn about selling to parking services businesses, this isn't the right place for you. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.