Business Model Canvas
My idea is to create digital parking information stands on every block that would provide information on the parking availability on its designated block. Parking spaces would be measured and outlined on every block to use parking space to maximum capacity. On each stand, each parking space on that block would be numbered and show up on the screen providing information on approximately how long that vehicle will be parked in that space. This would allow drivers to access information helpful when it comes to looking for parking and determining an estimate time, they need to find parking. The parking info stand would also provide details about parking signs in simpler terms making parking less of a hassle. Being able to obtain this type of information would allow drivers to plan out their day without rushing or stressing about time.
Key Partners:
This idea would require the collaboration of the NYC Department of Transportation as well as the Governor and Mayor of the state. Because this idea has to do with city regulations and public spacing, partnering with government officials and department to implement this idea would provide more guidance on how to establish this system that is helping solve a problem which can only be carried out with the guidance of these partners.
Key Activities:
Data collecting and analyzing, engaging customers in their parking experiences by making it a more comfortable, less stressful process, and making the system as simple as can be to provide customers with that confidence when looking for parking. All these activities would factor in to how a customer feels when looking for parking and after they have found that space. Collecting the necessary data to provide customers with the best service and make their experience as trouble-free as possible.
Key Resources:
Parking meters, parking garages, driver parking data (including locations where people are looking for parking a lot, how long they are parked for, when they park there, etc.), and DMV data. All these resources provide different types of information that will help in determining how to outline parking spaces on the street and creating a database where people can plan out when and where they will park as well as how long they can be parked. From the company’s side, having additional information on how many cars are registered in the city and how many cars are in parking garages allows us to create a more accurate system that would help this parking problem. For the most part though, the drivers are the ones providing us with the information for example how long they will be parked.
Value Propositions:
The core values we deliver to our customers is dependability, efficiency, and affordability along with accessibility. Parking in the city can be very expensive and not accessible to everyone so our system helps address this issue by giving everyone the ability to have a faster and cheaper way to park. Although it is a cheaper alternative to parking, the quality of the service does not increase and still provides customers with what they need in a more economical way.
Customer Relationships:
With the customer segment of those who drive a vehicle(s), we would want to encourage a reliable, affordable parking system that makes the parking process easier and more preventative of future issues such as parking tickets. For those who struggle with parking in the city, we would want to emphasize the simplicity our system provides when experiencing the frustrating parking situation, they often encounter. With the people who consistently drive in populated areas with limited or expensive parking, educating them on how our system decreases amount of time wasted looking for parking and negative emotions that are caused by this problem would bring more awareness to how our system makes a big difference in our everyday lives.
Channels:
Digital parking information stands, and city transportation websites would be where people would be able to access this information. The digital parking info stands would be like the digital interactive mall maps that are placed around malls to help people find stores and restaurants as well as provide information on their surroundings and where they are standing at. To access the parking information when they are not near their parking space, they can also find this info on the city’s department of transportation website. To bring attention to this solution to the parking crisis, ads in parking lots, train stations, and bus stations would be a start to market the product/service.
Customer Segments:
People who drive a vehicle(s), those who struggle with parking in their city, those who drive in areas that are densely populated and have limited parking space would be the main targets. The general market is people who drive because even though they can live in an urban, not so populated area, they may work in a metropolitan area where parking space is limited and is hard to find or expensive.
Cost Structure:
Parking meter cost would be the only fee customer would have to pay. The digital parking stand info would be at not additional cost to the parking fee. The parking fee would be lower compared to already existing parking meter costs. Since parking is also associated with the city’s transportation department, and this system ties into this issue, the city would be funding the company that contributes to the overall quality of life in the city.
Revenue Streams:
Parking space costs and government funding. The low cost for the parking space that includes access to the parking info stand would be more affordable than traditional, short-time parking meters. Government funding would be another revenue stream that the company would propose to the city and state to provide the best parking solution while still complying with rules and regulations that affect how this system would work as well as implemented. With more users and effect on the parking situation, the more funding because we are preventing other issues such as increase in parking tickets and court cases related to this issue which cost the government a lot of money.