By Tate Misiaszek, PTMP
When you are in the midst of a great revenue-generating event parking situation, how are you handling surge pricing? Is your operator getting the most bang for your buck? Are you setting and forgetting or letting the SHARK come out mid ingress? I have found myself in many different settings according to how the client wants the lot run, but it is quite fun making a run for the money. One tactic is the set it and forget it rule where it is easy to estimate and budget how much you will make in an event. Other tactics include Sharking the competition. In a particular lot at a particular time our owner wanted to make the most bang for his buck and gave us the direction “make money but don’t get me in the paper,” and we ran with it. We had fluctuating rates to be changed on the fly according to the estimated percentages of available parking on the lot. Rates were changed at forty percent, fifty percent and so on. It is quite easy to set rates and forget them but are you making the most bang for your buck? How much are you willing to do, to make the most out of an event? How much do your owners appreciate your efforts?
Tate Misiaszek, PTMP, is a Project Manager for LAZ Parking. You can reach Tate at TMisiaszek@lazparking.com.
