_Yspott is community marketplace for people to list and book parking spaces. 

Designed to provide a cohesive and efficient way of finding parking in real time._

Problem:

Finding parking in a timely and efficient matter has always been a major controversy for our customers. Which very often results in a paradigm outlining the many issues involved in finding a place to park their vehicles, to begin with.  

The main out-lawyers of this severe residing problem within our metropolitan areas are:   
  • Severe lack of parking spots available on demand at any time. -There is no immediate way of securing or reserving parking spot(s) while being able to negotiate with the market in terms of; duration, location, and price. -The vast majority of individuals looking for a place to park, lack the necessary information about the available parking spaces in the vicinity. Such information is composed of Availability, Location, Prices, Special Instructions, etc.
  • Vast amounts of unused residential and after-hours commercial parking spaces, surrounding areas cluttered with people looking for places to park.
  • No easy way of accessing such parking spots (unused residential and after-hours commercial parking spaces) in specific areas and at a particular time.

    Drivers in dense urban areas, frequently find that desirable parking close to their destination is unavailable or prohibitively expensive. Thus, discontent and frustration can arise from any number of situations: desirable parking near a destination being at capacity, price differences between public curbside parking and private garage parking, or just a driver’s lack of familiarity with their surroundings.

    This is a huge issue that requires immediate attention. It turns out that parking availability is one of the most critical factors in trip making process that can affect commuters’ choices of travel mode, route, and departure time. We have found that the availability of parking, is the outcome of drivers’ ability to choose the best parking locations; which very often depends on the driver’s knowledge and familiarity of their surroundings.

    While most people enjoy the act of driving, the act of actively looking for a place to park is detested by all. Is not only time consuming but expensive as well. Since there aren’t enough parking spaces available when needed, (at any given time) other miscellaneous expenditures come into play, such as parking tickets, wasted gas, overpriced parking lots, valet, extra mileage to the car, etc.

    The pain of driving around for minutes in search for a place to park has been experienced by anyone who owns a car. This unprecedented issue (in addition to bringing a high degree of frustration to the individual drivers) is believed to have an even more detrimental impact in regards to “traffic stagnation." An often-cited anecdotal figure is that, at any time, 30% of vehicles on surface streets of major cities are looking for parking.

The marketplace players and their individualized problems can be divided into "Drivers looking for parking" (guests) and “Individuals/business" with unused or timely used parking spots"(hosts).

Drivers looking for parking (Guests) -No quick or easy way of finding parking. -No practical way of reserving a place to park beforehand. -Lack the necessary information about the available parking spaces in the vicinity. Such information is composed of; Availability, Location, Prices, Special Instructions, etc. -No way of accessing unused residential and after-hours commercial parking spaces surrounding their destinations. -No way of negotiating with the market regarding price, availability and specific accommodations.

Individuals/business with unused or timely used parking spots (Hosts). -No use for their empty parking spots. -(Residential) Want to earn extra cash by renting out their vacant parking spots. -(Business) Besides being able to make a passive income, they want to bring “foot traffic” to their locations, while attracting possible costumers.

It is imperative to point out that the main problem within the industry is not a shortage of parking lots as a whole, but rather that we are not entirely utilizing the ones around us.

Solution:

The solution to the industry problems lies in the consumers' ability to share their parking spaces when not in use.
Yspott recognized this problem and is developing a solution for the everyday driver. In short, it pairs unused private parking spaces in apartment complex, driveways, and even business parking lots, with drivers searching for a short or long-term spot. Which eliminates the inability of accessing the vast amounts of unused residential and after-hours commercial parking spaces, surrounding areas cluttered with people in looking for places to park.

Designed to entirely create a cohesive and on-demand way of finding parking in real time while also providing an alternative source of income. Thus, establishing a bridge between the problems of the industry and a scalable system designed to incentivize our customers' behavior.    

Yspott enables “Sellers” to rent their unused or timely-used (Household/Apartment/Business) parking space. Consequently allowing “buyers” to find quick and inexpensive parking solutions in real time. 

A system dedicated to the transactional use of parking spots. Capable of vertically integrating with privately owned parking lots, businesses, independent households and building associations as well.   

We aim to cover the most critical factors that determine the utility of a parking lot. We do this by, providing the market with a substantial amount of information and variety of options. Such options include parking cost, walking distance to the destination, security of the parking lot, whether the parking spot is covered or not, as well as flow-dependent characteristics such as drive access time and time spent searching for a parking space.  

No more driving around endlessly looking for a place to park. Through Yspott, our customers can book in advance and reserve a secure parking spot prior their departure or reserve in real time once they’ve arrived at the desired destination.

Designed to reduce the overall expenditures and difficulties related to “finding a parking spot." Our prices are dictated by the market, instead of an overpriced set mark. A mix of algorithm base predictions (based on activity and demand) and a minimum price that the owner is willing to accept. No more parking tickets, wasting gas/time driving around, etc.

We incentivize this kind of behavior by allowing the “Sellers” to set up a price and time for their parking, hence the creation of an alternative (passive) income is formed. We give them the tools and the platform to “make-ends-meet” by accruing on extra income. Simply list your space, time, location, and minimum price; we will take care of the rest. 

We take the security of our customers and the state of their belongings (Automobile, property, etc.) very seriously. Within the platform, Yspott will develop a 6-step verification process that guarantees a piece of mind and a sense of trust for both parties.

• Creating individualized parking rules • Verification of IDs (State IDs, Passport, etc.) • Review and references • Ability to decline guest at any time • A direct and private form of messaging between the host and the client (before the booking and after) • 24 Hours direct line: Dedicated customer service at any time to satiate any particular request, complain or inquiries.

From a technical execution standpoint, our platform is focused on reducing friction. In both; “selling” (hosting a parking spot) and “buying” (renting a parking spot). We are employing such strategy to create sufficient liquidity on both sides on the marketplace.

Conclusion We believe this to be a profound solution, not only for our customers but for the overall socio-economic wellbeing of the cities where it’s going to be implemented. Besides aiming to completely solve significant parking issues (discussed earlier) within cities, while creating an alternative source of income for our customers, we are setting the seeds for the advancement and disruption of the parking industry. Which, in response will have to adjust by listening to their actual consumers instead of destroying our cities by flooding them with parking lots and parking garages at random. Such action does nothing more than accentuate the very issues they are trying to solve. At Yspott we are determined to address such issue by enabling our customers to share their parking spaces when not in use, with drivers looking for a place to park in the vicinity; giving the people the necessary power throughout our platform to make a change for themselves, their fellow drivers and their city.

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