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Report available on parking facilities management

Research And Markets : 30 April, 2008  (New Product)
Parking report covers industry profile and examines the parking industry in detail including scope and revenue generation
Research and Markets has announced the addition of Parking Facility Management - Industry Profile to their offering.

Covering over 175 industries and updated every 90 days, the First Research Industry Profiles do the heavy lifting for you - saving your sales team valuable research time, enhancing client communications and giving you the competitive edge to win more business.

Easy-to-use and up-to-date, the Industry Profiles provide you with the industry research necessary to stay on top of constant changes in select industries.

The First Research profiles help target your products and services directly to prospects. The Industry Profiles provide the information and understanding you need to engage new prospects during the sales process, deepen customer relationships and strengthen your own bottom line.

The parking facility management industry includes about 3,000 companies with combined annual revenue of over $8 billion. Major companies include Standard Parking, Apco System Parking, and Central Parking. The industry is concentrated: the top 50 companies have 75 percent of the market, although the vast majority of companies are small and operate a single parking facility generating about $600,000 in annual revenue.

The parking facility management industry provides temporary parking spaces for vehicles on an hourly, daily, weekly, or monthly basis, and doesn't include long-term vehicle storage.

Demand is driven by the occupancy rates of commercial real estate: large buildings require parking spaces for commuters, customers, and related area industry. The profitability of individual companies depends on operational efficiency and customer service. Large companies have advantages in relationships with large property managers and owners, and economies of scale in operating efficiency. Small companies can compete effectively by catering to customer needs and operating a desirable location. The industry is labour-intensive: average annual revenue per employee for a typical company is less than $60,000.

Major services are auto parking services in parking lots and garages. Ancillary services, such as oil changes, auto detailing, and dry cleaning pickup, are offered at many urban parking facilities, but their revenue is less than 5 percent of total industry revenue.

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