Are you treating your parking lot like an afterthought?
Parking lots may not be the most glamorous aspect of your business plan, but they're a real asset to your company. They're vital to customer service, branding, marketing, hospitality, safety, and operations.
Like any other business asset, parking lots come with responsibilities.
A neglected parking lot is not only an eyesore, but it's also a significant safety hazard for employees and customers. The last thing you want is liability claims burning a hole in your insurance and budget.
While several industries benefit from concrete parking lots, how can you navigate the risks to reap the rewards?
Here's a closer look at the pros and cons of commercial concrete parking lots.
Parking Lots and Customer Service
Imagine wasting nearly a whole day looking for a parking space.
According to USA Today, the average U.S. driver wastes 17 hours annually on the great parking space hunt. Drivers burn more than $340 on gas, snacks, and time loss.
Parking spaces are precious; customers will choose your competition if parking is available, even if you provide better quality. Providing this convenience is instrumental to your customer service strategy.
The Location Factor
If you want to build a parking lot, location is both an asset and a liability. You must consider parking early in the business planning process.
For example, a corner location is a prime spot for a lot, while a downtown storefront is a liability if you don't have room. If your prospective site can't fit a lot, make sure there's ample street parking or a parking garage nearby.
Small businesses squeeze in parking spaces frequently. Talk to a parking lot contractor to see if you can accommodate at least two parking spaces. Even one space can make a difference in sales.
Concrete Parking Lots and Branding
Motivated employees love incentives that encourage larger sales. Your customers operate similarly. They want incentives that lead to big savings, which leads to large, frequent sales.
Think of your parking lot as a complimentary gift. Reward your customers for their loyalty! Instead of making them park four blocks away, add a parking lot that reduces walking time to mere seconds.
Don't keep your parking lot a secret, either. Include your parking lot in business photos and marketing materials. Make sure to include this perk in all your business listings, as well.
Grocery stores, retailers, and convenience stores all benefit from incorporating parking into marketing. Remember to mention free parking in your social media profiles, website copy, Google listing, local TV commercials, and print advertising.
Parking and Real Estate
Parking lots are a huge branding asset for the real estate industry, as well.
Available parking is the holy grail for city dwellers, and free parking is even better. Thus, parking lots increase the value of residential housing. Property owners who offer parking spaces also see less tenant turnover, improving net profit.
"Available parking" pops right out on real estate listings, especially apartment rental listings. If you're a realtor, make sure to mention this perk at your open houses and virtual tours.
Parking Lot Maintenance Matters
Does your parking lot look like a scary abandoned lot? Your lot may be a great location for a horror movie, but you don't want to repel customers.
Parking lot maintenance is just as critical as in-store cleaning, bathroom maintenance, kitchen cleanup, and countertop disinfecting.
Neglected bathrooms and kitchens facilitate foodborne illness and other hazards. Unkempt parking lots also present a fair share of problems.
Fallen tree branches, car oil spills, surface cracks, slimy moss, litter, and broken concrete increase the risk of slips and falls. Seniors are most at risk of falling in parking lots, but anyone can sue a business for slipping and hurting themselves.
Maintenance Solutions
First, learn about different maintenance solutions, like janitorial services, parking lot sweepers, and lot cleaning supplies.
You must demarcate your parking spaces with painted lines, keeping spaces at least 9x18 feet large. Make sure to include a wheel stop at the top of the parking space. Repaint lines periodically as the paint starts to fade.
Asphalt alligatoring is another problem to watch. "Alligorating" is a common occurrence with old asphalt parking lots. Over time, the asphalt contracts and breaks apart in the sun, leaving a distinctive alligator-skin pattern.
New business owners often inherit "alligatoring" parking lots from previous owners. Replacement is the only solution for these cases. To avoid future issues with asphalt, try a concrete parking lot instead.
Parking lot maintenance is an investment just like any other business expense. Break down all associated costs. It may be more cost-effective to invest in services specializing in parking lot painting, cleaning, and garage maintenance.
Employee Safety
Employees generate sales daily, but they'll also generate workers' compensation claims if you're not careful.
Workplace safety is crucial for employee wellness, productivity, morale, and your business profits. Employees are just as vulnerable to parking lot accidents as workplace concussions or back injuries.
Employee injuries keep vital employees from work, but they increase insurance rates as your business expands. The more employees file accident claims, the more you have to pay. Furthermore, employees can still sue for additional compensation from asphalt parking lot accidents.
Parking lot neglect isn't worth the risk. Along with routine maintenance, install security cameras to maintain safety and document incidences for future liability claims. You also need proper lighting to decrease the risk of accidents and crimes.
Remember the point about branding, too? Employer branding is also important for growing companies. Include parking perks in your job ads and recruitment campaigns to attract top talent to your team.
Discover the Benefits of Parking Lots
Are you looking for a new way to attract customers? Ponder the possibilities of concrete parking lots! Remember these pros and cons as you take the next step.
Don't forget to bookmark this blog to stay updated on more savvy parking lot, automotive advice, and transportation business hacks. And be careful when you park the car in Harvard yard!
