How Much Does It Cost To Renting Out A Parking Space? (In 2024)

Updated: January 18th, 2023
A Renting Out A Parking Space

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

The cost of opening a a renting out a parking space can vary based on several factors. However for a a renting out a parking space you can expect to spend $12 to $37,876 with an average cost of $19,815.

  • The minimum startup costs for a renting out a parking space: $12
  • The maximum startup costs for a renting out a parking space: $37,876
  • The average startup costs for a renting out a parking space: $19,815

Here's a detailed list of a renting out a parking space startup costs:

Learn more about starting a renting out a parking space:

Where to start?

-> Pros and cons of a renting out a parking space

Need inspiration?

-> Other renting out a parking space success stories
-> Examples of established renting out a parking space
-> Marketing ideas for a renting out a parking space

Other resources

Equipment & Supply Expenses

Starting a renting out a parking space may require purchasing some equipment, whether that's for producing the product or packaging the goods, or equipment needed in the back office.

Cost Required? Min Cost Max Cost
Cleaning Supplies ➜

Optional

$63

$200

First-aid Equipment ➜

Optional

$3

$500

Uniforms

Optional

$0

$500

Retail Business Expenses

If you plan to have a brick & mortar location for your renting out a parking space, you must weigh the costs of your rent, as it may be the most expensive part of running your business.

Rent costs for your renting out a parking space very much depends on your location. This cost will vary by both region and specific areas of town: a lease in the heart of Manhattan could cost over $80,000/month in rent. Meanwhile, a storefront lease in Florida or Tennessee could cost less than $1,000/month.

Cost Required? Min Cost Max Cost

Shop Decor

Optional

$0

$5,000

Utilities (storefront business)

Optional

$0

$1,000

Building improvements and remodeling

Optional

$0

$950

Storefront Property Rent ➜

Optional

$1,250

$3,500

POS System

Optional

$0

$1,200

Software Expenses

Your renting out a parking space needs software to run efficiently!

Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.

Cost Required? Min Cost Max Cost

Email marketing tool

Recommended

$0

$100

Accounting & Invoicing Software

Recommended

$0

$50

Project Management Software

Recommended

$0

$25

Social Media Management Tools

Optional

$0

$50

Payroll Software

Optional

$0

$200

Inventory Expenses

If you sell a physical good, you'll likely have to start with some inventory.

Cost Required? Min Cost Max Cost

Upfront Costs For Inventory

Optional

$300

$5,000

Inventory Storage

Optional

$0

$5,000

Package Design ➜

Optional

$50

$3,000

Shrinkage

Optional

$0

$1,000

Distribution costs

Optional

$0

$750

Advertising & Marketing Costs

Cost Required? Min Cost Max Cost
Business Cards ➜

Optional

$0

$50

Tradeshow costs

Optional

$0

$5,000

Networking Membership Fees

Optional

$0

$250

Business Signage ➜

Optional

$75

$2,486

Direct Campaigns, Printing and Mailing

Optional

$0

$300

Influencer Marketing

Optional

$0

$750

Press

Optional

$0

$500

Google Ads

Optional

$0

$300

Website Costs

Every business should have a website, and it's worth spending a bit of money to set it up right.

Cost Required? Min Cost Max Cost
Domain Name ➜

Required

$12

$200

Business Email Hosting Service ➜

Recommended

$1

$15