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It is lending to save money but peace of mind is priceless in today's small business big ideas segment we're introducing -- to the company doing -- You know how frustrating it can be after you've spent a fortune on a concert taking -- are sporting event.
When you -- you can't find a place to park will now you can reserve your parking space online and several major cities.
They used a company called parkway is.
Please welcome park with co-founder and chief technology officer John.
Orton hi John we've all been there pylori thank you have been so close yet so far away and tell about your experience that inspired me to come up with that that this company.
Yes so I was going to college in Boston at the time and I went to Red Sox game.
And just had the worst time finding parking there if anybody has been a thin -- knows it's really congested there's lots lonely streets.
And I drove around for almost 45 minutes now witnessing the beginning of the game.
And ended up parking somewhere that was just around the corner from where I was looking -- -- -- there had to be a better way to find -- when you go somewhere.
I so how does this work you basically go online and you click on the parking spot and its -- how do you guarantee your customers at that parking spaces can be ready and waiting by the time Iraq.
That's right -- can go on -- was dot com or use our iPhone or android apps to find parking.
And actually booked and have guaranteed spot waiting for you.
And we do that as we work with all of the parking lots that appear on our service so everybody is that appears on the map that you can reserve.
We'll be ready and waiting for the -- reservation the hole the spot for you.
Okay so in New York -- you probably know it can cost upwards of thirty bucks to park for an event so how much of an additional cost is its user service apartments to get that space -- can actually be less expensive.
Because when you go to yankees game for example you're gonna go right -- Yankee Stadium in finals the expensive part.
-- we don't know is that there's much cheaper parking just a short five minute walk away.
So that's what park was his case.
Okay so in the city -- that's where you have these big -- charges and there's also the hassle this is my personal frustration is not so much getting the parking space.
But waiting in the long line especially in midtown for the -- to bring your car out of the garage so is there any way you can expedite that hassle for people.
Absolutely so when you book -- spot on park was -- tell -- when you're leaving.
And in the parking garage knows when you're leaving -- -- -- the same time.
That's right well it's it's tough if everybody is leaving the same time the laws of physics kind of prevent everybody from leaving at the same time okay.
But if ever we do everything we can to make sure that everybody has and it -- appreciate.
I think guys look revenue how he did you working in connection with these -- Russians had to get them to sign up and had his.
-- -- we we have a great sales in that identifies good parking lots first service and in the parking lots and cells actually set the price we let market forces determine.
What prices they -- in that determines how many spots itself sitting there like it how much it would cost netbook space today for a baseball game sure we'll see you're gonna Yankee Stadium.
We have parking anywhere from 715 to thirty dollars depending on how close -- going to be of the stadium.
I'll call OK so there's a range so you got all the price -- that's when your business plans I do not have to go public one day you wanna be -- where how are you building the business would you doing to present.
We're focusing just on building the business as -- we can going public would be a dream come true but right now we're concentrating.
On Chicago and New York.
And once we're Seles in those markets expanding across the US are we'll keep RI I didn't -- your success thank you so much for joining -- on important thanks for having.
Lori Rothman I want my cop now I think I'm so I don't -- excuses -- --
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