Congrats on purchasing a parking garage as an investment! Assuming the garage is in a part of town that has little in the way of street parking available, you’ve got the chance to make a hefty net profit each month. You can maximize those profits by thinking about installing self-service payment terminals at the exits. Here are some of the ways that you and your customers will benefit.
If you have parking attendants at those garage entry and exit points, you do have to pay them for their labors. At the very least, you will need to employ a series of part-time personnel and pay each of them an hourly wage. If you opt for full-time employees, that could mean providing them with benefits like sick leave, vacation time, and health insurance. All that adds up to a pretty penny.
Factor in having to make some alternative arrangements if an employee calls in sick. How hard will it be to get one of the other employees to come in and cover that shift? What happens if the garage has to be closed for an hour or two while that employee makes his or her way to the facility? You have to deal with the hassle and end up losing money.
If you have self-service terminals on hand, you can keep the employee force to a minimum. Even if no one is there at the moment, customers can gain access and tender electronic payments when they leave. You save on employment costs and run less of a risk of losing income due to absenteeism.
The nice thing about those self-service terminals is at the end of the day, all of the collected receipts are transferred to your account. As the building owner, you can access daily reports via a secure connection. That helps you know how much will be deposited into your account. Think of how much time that saves you in terms of having to prepare a deposit and take it to the bank.
Depending on the arrangement you have with the terminal provider, maintenance and upkeep could be a breeze. Some providers bundle in routine system checks and light repair into the monthly cost of operating the terminal. Even if one needs to be replaced, the expense to you is minimal. Thanks to those benefits, your bottom line is further protected.
With self-service terminals, there’s no scrambling to find the cash to pay for the parking. All it takes is the swipe of a debit or credit card. Since some terminals are configured to also accept smartphone payment options, customers are free to use any cashless method they choose.
By making sure you do use terminals that will also allow customers to insert cash if they like, you’ll have every base covered. You’ll be happy because more customers will use the garage and the payment method of their choice. They’ll be happy because you made paying for the use of the garage so easy.
If you haven’t taken a good look at self-service terminals for use in your parking garage or deck, today is a good time to change that. Talk with a professional and learn more about the installation costs, the fees associated with the use of the terminals, and the range of protections that are provided. After you project what the terminals can do for you and for your customers, it won’t be hard to make the right decision.