Starting a Parking Lot Business - Special Considerations for Valet, Construction, and Striping Businesses

Are you thinking about starting a parking lot business? Read on for a quick overview on how to start a valet, lot construction, or striping business - and the unique aspects of the industry that require extra attention.

Starting Up
Whether yo;re starting a valet business, constructing a parking structure, or striping a lot, yo-ll need to follow the same basics steps when starting your business. Read 10 Steps to Starting Up to better understand and navigate the key planning, financial and legal decisions involved in starting a business.

As you begin to formulate a business plan, use the free resource guides on Business.gov to decide how you will finance your venture, obtain licenses and permits, and market your business.

Business Location
Every business owner will face some basic legal and regulatory issues when selecting a business location, as well as practical considerations such as proximity to customers and accessibility. For parking lot businesses in particular, location plays a major role in your business plan. For example, if you are starting a valet business, you will likely want to position your location near hotels, restaurants, shopping areas, or other high-traffic destinations in your town. If you plan to construct your own garage or lot, you will need to research your local zoning laws to determine where you are legally allowed to build.

Equipment
Depending on the nature of your business, you will need particular equipment. Valet businesses will need a ticketing or time-stamp system to keep track of customer arrivals and departures, uniforms to identify employees, and methods of accepting customer payment. Parking lot or garage construction businesses will need various building supplies, line striping machines, and safety wear, depending on the circumstances.

Insurance
Parking lot businesses require sufficient insurance coverage. If you or your employees will move customer- cars, you will need to work out appropriate coverage for damages, injuries, and theft. The following guides from Business.gov will help you understand your insurance requirements:

• Types of Business Insurance
• Insurance Requirements for Employers
• Five Tips for Buying Business Insurance

Workplace Safety and Labor Issues
As an employer, you must comply with health and safety standards and labor law regulations. Use these Business.gov resource guides to help understand your obligations:

• Workplace Health and Safety Guide outlines how to comply with OSHA requirements for your business.
• Employment and Labor Law Guide highlights employment laws that apply to your business, including new hire reporting, benefits, and worke's compensation.
  
  

Related Resources
Have more questions about starting up a parking business? Industry associations often provide codes and standards that can help you navigate the norms in your trade.

• The National Valet Parking Association* promotes professionalism within the valet parking industry
• National Pavement Contractors Association* promotes excellence of service, quality of performance, and profitable growth for professional pavement contractors.