Is it good to invest in a parking space?

[Starmix]

In my country parking space is very difficult most especially in the cities and if you create one, it is big way to make money.

Owning a parking space here in my place is not difficult as long as you have the permits to operate and the location is strategic enough to be permitted by the city government. There's space limit and qualification.

 

[cherry123]

The thing is that if you love the task then you can engage in it to make money. I see people doing this business here making money off it as well

 

[Starmix]

This business needs a sincere and serious type of person . He must also be patient and knowledgeable of the techniques and procedures of positioning the areas where to park. Entry -exit must be considered , so the business owner must be well-knowledgeable to avoid chaos in backing and exiting. There should be no-over-lapping.

 

[Mayor]

But, Don't you think starting a parking space would be capital intensive? Though, Your explanation has given an insight to how you can invest in parking space and make money off it comfortably.
I reside in a big city, usually known for its Traffic congestion, so I feel if it is not too Capital intensive, I should be able to start one.

 

[Starmix]

One cannot operate a business like this if there's no big land available for converting it to a parking lot. In the city where I live there are no big lots or lands for sale. It's much better to find one.

 

[Samuzor]

Well, from my opinion, it's actually good to invest in a parking space but, not as good as you think. This is because your region of choice of parking space affects the outcome of such investment

 

[Starmix]

Only do business in a very strategic place and with a million capital. Parking lot alone requires millions if the land is bought, if yours, then there is no problem.