Business Idea

Start A Valet Parking Service Business

About

Starting a valet parking service business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell valet parking services, or selling valet parking services online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$3.8B
starting costs
$22.5K
gross margin
90%
time to build
9 months

About

Starting a valet parking service business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell valet parking services, or selling valet parking services online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$3.8B
starting costs
$22.5K

 

gross margin
90%
time to build
9 months

Startup Costs

Min Startup Costs Max Startup Costs
Employee & Freelancer Expenses $151 $252
Website Costs $223 $7,015
Business Formation Fees $600 $4,700
Vehicle Expenses $0 $10,000
Retail Business Expenses $1,250 $6,650
Advertising & Marketing Costs $75 $3,986
Software Expenses $162 $2,720
Office Space Expenses $0 $100
Specific Industry Expenses $0 $500
Total Startup Costs $2,461 $35,923

Successful Businesses

Business URL Rank
National Trash Valet nationaltrashvalet.com #1,475,100
Towne Park townepark.com #1,490,873
Lanier Parking Solutions lanierparking.com #1,617,521
Valet Parking Services valetpark.co.za #3,021,612
Dunes Valet Parking Services dunes-vps.ae #3,029,374
Hospitality Parking valetcareers.com #3,238,025
Valtrans Transportation Systems And Services valtrans.com #3,324,019
Noble Parking nobleparking.com #3,682,322
Phoenix Parking Solutions phoenixparkingsolutions.com #3,703,528
ELITE Parking Services eliteparking.net #3,868,571
California Valet Parking californiavaletparking.com #3,883,306

Pros & Cons

Pros Description
Little startup costs required The cost to start a valet parking service business costs significantly less money than most businesses, ranging anywhere from 3,141 to 35,923.
Rewarding work Starting a valet parking service business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
Pick & choose the clients you work with Valet Parking Service Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!
Control of workload With starting a valet parking service business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.
Gain exposure and experience This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!
Cons Description
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Longer Sales Process A valet parking service business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Work can be inconsistent As a valet parking service business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
Lack of benefits With a valet parking service business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Taxes As a valet parking service business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
No safety net Typically, as a valet parking service business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.