What's Next?

Existing Market Up next for Parking Pal I intend to gather extensive feedback from customers to improve current products and expand to new ones. While conducting previous interviews, I was not given any feedback or suggestions regarding improvements or expansions of Parking Pal. I was given extensive feedback on the urgent solution to the current parking crisis, from this I was told Parking Pal is a very attractive solution in which my target audience believes would be successful. For Parking Pal to grow in the current market we have to expand to beyond Florida and serve colleges throughout the country. With the expansion beyond Florida, this allows us to access an enormous customer base along with building relationships on a national scale to grow the value and brand of Parking Pal.

New Market 
A change parking pal could make is transitioning from exclusive operation in college towns and university campuses with expansion into major urban centers. Serving urban centers would introduce an entirely new audience which would exponentially grow the current target audience. Urban centers such as New York City or Atlanta offer access that college towns and university's cannot. Urban centers are home to much more industry which accumulates an enormous traffic increase. With this expansion, Parking Pal will have access to high traffic sporting venues, tourism, and everyday business commuting. Due to the increased traffic and increased demand because of the substantially larger populations, revenue will increase because the price point will be higher. With the ability to charge a one time parking fee to utilize the parking structure, the turnover rate per parking space will increase which will increase the overall profitability of each individual spot has more vehicles come and go. I think this new market could be more successful than college towns but it will be more challenging and less cost effective to implement due to higher property and maintenance costs.