Anthony Eskinazi founded JustPark in 2006, initially known as ParkatmyHouse.The website and the mobile application help the users find parking spaces near the people’s houses. It gained popularity and eventually went on to be a pioneer in the peer-to-peer parking market. In 2013-14, the company experienced tremendous growth and rebranded as JustPark in 2014 to initiate its market development journey. The company launched its first mobile application in 2014. The app enhanced the user experience of the website users and boosted the company.
The company has been growing ever since both internally and externally. The website and mobile app have more than 2 million users combined, and the team has grown to double the size since its conception Local authorities have also adopted JustPark, thereby not only granting credibility to the company but also increasing business. These contracts have only increased over the years, making JustPark a reliable company for parking solutions.
Apart from the excellent performance of the company both internally and externally, here are some of the reasons why the users have loved JustPark throughout their growth:
- Easy to Use: As you will read more about how JustPark works, the easy-to-use and simple interface is one of the qualities loved by the users. This feature increases the number of users and attracts people to the business
- Great Deals: While you read about how does JustPark make money, it is evident that the company provides its users with great deals and discounts which makes it totally worth it to skip the queue and park with JustPark
- Security: People find using JustPark as a very secure option for parking their cars while traveling to different places. This brings credibility to the app and increases organic users automatically.
- Variety of options: The range of parking spaces available on the app is incredible. It gives users several choices and adds value to the experience. People find it easier to find parking spaces anywhere anytime.
- Customer Satisfaction: The reviews and ratings on the app personify satisfaction.The majority of customers express delight with the services and the friendly parking space owners the company connects them with.
To build a business like JustPark, it is essential to know how does JustPark work for all of its stakeholders. JustPark business model is also discussed in detail below
How Does JustPark Work?
JustPark functions on a very systematic plan. Three significant stakeholders that are a part of this plan are the drivers, the parking space owners, and corporate partners. JustPark has a different policy for each of these stakeholders. Here is how JustPark works for its stakeholders discussed in detail.
How Does JustPark Work for Drivers?
It is effortless to use JustPark for the drivers. The mobile app helps drivers to find parking spaces outside people’s houses and other commercial venues. One can also reserve the parking spots in advance. This is a free-to-use app for drivers. However, advance reservation comes at a minimal cost. Let’s understand how does JustPark work for drivers.
Drivers need to follow the steps given below to find a parking space with the help of JustPark:
Step 1: Download the Application
The first step is to download the mobile application. One can also use the website to find a parking space, but using the mobile application is a more comfortable option available to the drivers. After downloading the app, the users can register and make an account on the mobile app.
Step 2: Browse
Once your account is ready, you can browse from the millions of parking spaces available in the UK. Millions of parking space options are available to the drivers. The drivers can choose any from these. These options also allow them to plan their trip in advance
Step 3: Read the Instructions
Each parking space listing has several instructions, such as the availability, prices at which the space is available, and the restrictions the drivers have to adhere to while using the parking space. The drivers need to go through these instructions before booking the parking space.
Step 4: Checkout!
Once the driver has shortlisted the parking space, the next step is to pay for the reservation. Subsequently, drivers can do this through the website or the mobile application, and they are good to go. JustPark makes it very simple for the drivers with their in-app paying facility.
This is how does JustPark work for the drivers. Simple steps to follow to get a parking space anywhere at any time. JustPark adds convenience to the driver’s experience. Parking payments are one of the primary ways of understanding how does JustPark make money.
How Does JustPark work for Parking Space Owners?
Since JustPark adds enormous convenience to the lives of the drivers, it also extends opportunities to parking space owners. It is an excellent platform for parking space owners to earn regular income just by renting out their parking spaces. Here is how does JustPark work for parking space owners.
Following are some simple steps for parking space owners can follow to rent out their parking spaces on JustPark:
These are the steps that elaborate on how does JustPark work for parking space owners. These are the primary stakeholders of the JustPark business model since the listings uploaded on the website are the primary source of traffic and income.
How Does JustPark Work for Corporates?
Another essential part of the JustPark business model is the services provided to the corporate companies by the website. JustPark has car park management plans for corporates who want to outsource their parking spaces, which are not in use during the off-season time. Let’s understand how does JustPark work for corporate companies.
What is Car Park Management?
Various corporate companies have parking spaces that are empty or under-utilized more than 50% of the time throughout the year. Any parking space costs the company a significant amount of maintenance. JustPark provides ‘Intelligent Parking Management Services’ to several corporate companies, which helps them generate income through these spaces.
The intelligent parking management helps companies to get a return on the investment they put into the maintenance of these parking spaces. Since the availability of the parking spaces can be changed on the listing, it makes it easier for the companies to manage it even during the time the areas are required for the company’s internal staff.
To build a business like JustPark, apart from understanding how does JustPark work and how does JustPark make money, it is essential to know why it is different from its competitors. Here is why intelligent parking management services are unique in the market:
These are only some of the factors which differentiate JustPark from several other competitors in the market. Quality services and valid pricing are the keys to a successful business like JustPark.
How Does JustPark Make Money?
Since it is imperative to understand the several sources of income that a business like JustPark has created, here is how does JustPark make money. These revenue streams are generated via the unique JustPark business model.
Driver Commissions
The company charges a small part of the reservation fees from the driver for providing the platform and the internet processing fees. This commission is the primary source of income for the company. All the reservations are inclusive of this commission amount. Driver commissions are essential for the company since drivers are a significant part of the business.
Commission from parking owners
Uploading a listing is completely free for the owners. They need to pay taxes as per the government norms. The commission fees or service charges are included in these taxes, which is levied by the company. This is an essential factor to keep in mind while understanding how does JustPark make money.
Corporate Parking Management Deals
The significant revenue is generated by the intelligent management parking services provided to the corporates. The parking management services are large scale projects provided to corporates like hotels & hospitality, commercial properties, operators & enforcers, public sector & local authorities. These deals make up for the majority of the revenue generated.
Investments
JustPark has also generated revenue from investments made in the company by investors from all around the world. These investments are allocated for the growth of the company and expanding the business to newer avenues. Investment is not a primary revenue stream but can be taken into consideration while understanding how does JustPark make money
This is all you need to know about how does JustPark work and how does JustPark make money. The JustPark business model is also discussed in detail, which helps you get a broader understanding of the business. Since the company is founded on its website and mobile app, hire the best developers to give your customers the best customer experience and own the market.
JustPark Business Model Canvas
Along with ‘how does JustPark work and make money’ let’s throw some light on JustPark Business Model Canvas.
How to Launch Your Own Business Similar to JustPark?
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