Finding a parking spot is one of those daily hassles for drivers. Fortunately, a startup company at the University of Utah, Parq, has a solution, and it’s now available for download for Apple and Android devices.
The app allows home and business owners to rent out their unused parking spots. Giving people the opportunity to make passive income while giving users a new way to find parking.
The startup aims to ease the parking process near universities like the U. It is also targeting parking by ski resorts, events, and other dense areas. As the first peer-to-peer parking in the Salt Lake City area, they have a unique opportunity to provide value to the community.
Now with the Parq app officially launched on Apple and Android, users can register their property and begin making money off their parking spots. They already have partnered up with several businesses and homes near the University of Utah campus and are looking to add more in the upcoming months.
The people behind Parq include: William Pepper, a third-year business student at the David Eccles School of Business; co-founder Juno Kim, a computer science graduate from the U; and Chris Schlierman, an entrepreneur and businessman.
“Our goal is to make parking stress-free,” Pepper said. “People can book parking within three clicks while comparing prices to other spots as well.”
The startup has participated in numerous competitions over the past few months earning second place in the Utah Entrepreneur Challenge and top 10 for Opportunity Quest. These competitions are provided by the Lassonde Entrepreneur Institute, where Parq also participated in the GetSeeded grant program and Company Launch to help launch their company.
When asked how much money a host can make off of Parq, Kim said, “The average homeowner can make hundreds of dollars a month depending on where they live while doing little to no work.”
Now with their app out, people can register their property and start making money today.
Learn more about Parq on their website here: parq.tech.