This part of the report examines how the new parking system will affect business in the city and the financial consequences of implementing the system. It includes my findings concerning the effect on customer satisfaction, revenue generation, and costs of infrastructure and maintenance. It also includes my recommendations on the issue.
Profitability from the proceeds
Many people will be interested in automated garage parking and they are likely to prefer it because of the numerous benefits it offers. It is likely to increase the demand, as more people know about the idea. The people will be pleased to know that they do not have to leave their cars at home when they are coming to the city. There will be two or more times the available parking space once the new system is implemented. This will generate more revenue and a quicker return on investment. In addition, the city can develop the saved space into something more profitable (Parkmatic, 2011). This increases the avenues for revenue generation.
Increased customer satisfaction and retention
Customers lose a lot of money because of the congestion in the city throughout the day. They end up spending time in traffic, which they could have spent conducting other businesses. Customers will be placed at the availability of space as this means that they can come to the city with their cars. Moreover, the new system is likely to increase demand because it guarantees safety of the vehicles. Vehicles are safer using the automated system because the system eliminates the need for people to drive inside the parking (Badger, 2012). The system will do most of the work since it is automated. This will reduce incidences of property damage and collisions. Customers will be satisfied to know that there is minimal chance of their vehicles getting scratches and dents. This will lead to increased customer retention. Customers do not have to worry about dealing with erratic drivers when they use the system. They are assured of instant satisfaction because the system will offer them services that are similar to valet parking (Elango, 2011; Monahan, 2012).
Saved costs in infrastructure and maintenance
It will be easier to manage the automated garage parking because the space used will be less. The system will greatly reduce the costs of maintenance and infrastructure. It will only hold cars and there will be no need for increased lighting. Moreover, the system will not need constant repairs. The new system will not need many attendants since it is automated. This will enable the city to reduce its costs. There are no costs required for passenger elevator construction and maintenance. The parking is time efficient and the system reduces operational costs (Corr, 2012)
Conclusion and Recommendations
It is clear that the new system will benefit the city greatly the authorities can no longer ignore the fact that the city’s population is increasing steadily. Instead of denying people the chance to drive or restricting their movements, the government should consider implementing the new parking system. The automated elevator will benefit the city because it will reduce the need for additional space yet it will accommodate more cars than it does presently. This will create many business opportunities for the people. It will reduce congestion in the city and this means that people can concentrate more on their work instead of spending more time on traffic. However, the city should consider installing the best system from the very beginning. This is likely to cost a lot of money initially. However, the city will realize faster return on investments because of the present demand.
Badger, E. (2012). Car elevators: Not just for the rich people. Retrieved from http://www.citylab.com/commute/2012/11/why-car-elevators-should-be-future-parking/4005/
Corr, C. (2012). The lift: Elevate your parking experience. Retrieved from http://liftparking.com/Lift%20Tour_final.pdf
Elango, S. (2011). The boomerang robotic valet. Retrieved from http://elevatorworld.com/files/EWI_Feature.pdf
Monahan, D. (2012). Is robotic parking right for your project? Retrieved from http://www.walkerparking.com/wp-content/uploads/2013/05/Monahan-Robotic-Parking-Pkg-Prof-Sept-2012.pdf
Parkmatic (2011). Benefits of automated robotic parking. Retrieved from http://www.parkmatic.com/
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