The average setup cost of implementing a new gate system at a typical garage.
GLIDEPARCS IN NUMBERS
Setup Cost comes down to the cost of implementing GLIDEParcs vs. the cost of implementing a new gate system at a typical garage. This cost is $191,000 for a new gate system, and either $25,000 for GLIDEParcs without LPR Cameras, or $35,000for GLIDEParcs with LPR Cameras.
There are Operating Cost variances in five major areas: Software & Data, Repairs, Tickets & Tags, Payroll, and Management. Total annual variance is $49,000.
Revenue Growth is modeled using one of our locations that converted to Digital/App in July 2015. Average annual revenue growth was 2.07% higher during the 18 months after the conversion than during the 18 months before. This figure may be conservative, as it was achieved while in competition with Uber/Lyft.
Violators are calculated as a percentage of total parking events (Digital, App, & Monthly) at several locations. This violator rate ranges from 0.12% to 1.04% depending on location.