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ParkPlace, located in California, is innovating parking Nationwide. Parking is a fragile space in need of organization.
Ethan and his team designed a solution that is both innovative and also removes the friction associated with the industry. As an example, ParkPlace uses a licensing business model to attract and grow the business.
Before ParkPlace, the parking industry had no viable method to correct the issue.
ParkPlace into the market and immediately implementing changes that made the market more efficient
Parking is a 30 billion annual net industry.
The ParkPlace tool allows operators to manage more inventory much more efficiently. There are over 50K garages in the united states. Growth is relatively stable. Even with 50 thousand garage facilities, have a place to part will become a challenge.
The tool model allows the partner operators to work with ParkPlace to scale and grow. The business model is simple: ParkPlace charges a licensing fee per location per month.
The ParkPlace advantage is helps parking operators launch beyond where that operator is ParkPlace remove the tedium of spreadsheets.
ParkPlace has reached the stage of seed funding. As the industry becomes more fragmented, now is an opportune time for investors to look at companies like ParkPlace and others across the United States.
What is worth watching about ParkPlace is how it manages its growth. According to Glass, leveraging all the tools that can give the insight required are what ParkPlace uses to uncover actionable data that is useful for him and his team as they grow the business.
If the growth phase continues for ParkPlace, it may be likely, ParkPlace will make its own acquisitions in the future
Keywords
Growth
Parking garages
Operators
Partner operators
Subscribers
Acquisition
Parking operators
Merger and Acquisitions