New app seeks to capitalize on high cost of parking
ParkChamp enables Calgarians with spare space to earn extra income
The high cost of parking in the city has inspired a plan to monetize vacant parking spaces with the tap of an app.
“Calgary has one of the highest parking rates in North America,” said Maggie Young of fledgling ParkChamp, who said the idea was partly inspired by the steep toll of driving to work downtown and similar projects in San Francisco and the U.K.
Since last winter, the three-staffer startup has signed up 60 parking stalls from Calgarians with surplus vehicle space they’re willing to rent out, with about 30 of those on the company’s app so far.
By downloading an app, prospective customers can view available stalls on a map, see their price and purchase time for them.
ParkChamp’s share of each transaction is $1 and another 10 per cent.
“We encourage stall owners to charge 30 per cent less than the rate charged around their area, but the more people who are signed up, it’s more competitive and that does trend downward,” said Young.
The owner of a single stall at a $15 daily rate, she said, could potentially make $300 a month.
As a promotion, they’re offering free parking on the app for those attending this Sunday’s Lilac Festival in the Mission District, a street festival that attracts tens of thousands of people.
Young conceded there’s only a handful of ParkChamp spots available for the festival-goers.
But, she said overall, the concept’s potential for growth — particularly in parking-restricted and high-demand areas — is immense.
“There are 10,000 parking spaces downtown available right now, and around transit areas 10-fold of that,” said Young.
Young and her colleagues are focusing on arranging parking spots in the neighbourhoods around Stampede Park in time for the July exhibition.
And they’re hoping to land more inventory by appealing to corporate lot owners with space to spare, she said.
“It’s going pretty fast but we’re looking at a lot more,” said Young.
Customers who overstay their parking agreement can be sent a reminder on the ParkChamp app, she said.
“But we can’t issue tickets and there’s no way for us to remove a vehicle ... the stall owner can have the vehicle towed at the car owners’ expense,” she said.
The service has been free of such problems in its one month of operation, said Young.