The US has an estimated 3-8 parking spaces for each car, yet parking is still overpriced, inconvenient, and difficult to find in highly populated areas. This is because most of these parking spaces are privately owned in the form of driveways, home garages, business parking lots, unpaved lots, and many more. Prked will open up these unused parking spaces to the public by providing an online marketplace that allows individuals, businesses, HOA’s, and other establishments to rent out their unused, privately owned parking spaces. This allows Hosts to earn extra income/revenue and creates convenient, cheaper, and eco-friendly parking. By allowing Hosts to open their parking spaces to the public, Prked will increase the availability of parking, decrease the cost of parking, reduce the time Drivers spend looking for parking, reduce car emissions, and reduce the need to build more parking structures, increasing green space. With a potential market size of $370b and an annual market growth rate of 5%-7%, it is a perfect time for a parking marketplace.
