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Business Development
What is Market Mapping?
Market Mapping & Expansion Planning
Main Objectives
1. What is JustPark’s current market share?
2. Which cities should JustPark prioritise?
3. Which Sectors should expand there?
4. Why?
Contents
- What is our current approach?
- What challenges are there with our current approach?
- How was this Market Research conducted? (answer: comprehensively)
- What were the results?
- Next steps: Putting the plan into action
- Conclusion
Introducing, the UK’s most comprehensive Parking Investment Review ...
‘Parking and Beyond’ Quiz
Which local authority…
Parking
1. In 2016/17 made the most money from PCNs? How much money did they make?
Westminster - £46,426,000
2. Made the least money from PCNs?
Northumberland - Had a deficit of £667,000
3. Saw the highest percentage increase in house prices between May 2017 and May 2018?
West Dunbartonshire - 15%
4. Saw the largest percentage decrease in house prices between May 2017 and May 2018?
City of London - Losing 14%
5. Had the largest percentage increase in ‘median full time salary’? (2015 - 16)
Woking - 28.8%
6. Has the largest potential parking market within A) the Hotel Sector, B) Commercial Property and C) ‘existing’ car park market?
Tell u later on ;)
EXECUTIVE SUMMARY
Current Approach
CURRENT APPROACH
- Lead Generation and Sales’ efforts are based on current JustPark demand.
- The Private sector Sales team, are dependent on demand for their forecasts to be trusted with confidence.
High JustPark searches
Core focus - Saturation when?
Brighton, Bristol, Manchester,
London etc.
10,000+ searches per month
Medium JustPark searches
General focus - reluctancy?
Leicester (!), Coventry, Chester,
Wolverhampton etc.
3,000+ searches per month
Low JustPark searches
Will not pursue
Worcester, Bradford,
Chichester etc.
Below 3,000 searches per month
CHALLENGES TO
OUR CURRENT APPROACH
NEW / ADDITIONAL
APPROACH
SUPPLY POTENTIAL –
DATA COLLECTED
Using the below factors to indicate potential market expansion avenues beyond JustPark demand.
SECTORS CONSIDERED
- 378 local authorities across England, Wales and Scotland.
- Around 50 comparatives.
- Flexibility to weight comparatives differently.
Hotels Market
Existing Car Parking Markets
Cashless Market
Using proxies as opposed to generating a total market opportunity*
P2P Market
Commercial Office Markets
Our findings
Our findings
Hotels Market
What is the current supply potential across each Sector in each local authority?
Hotels Market
£ RANKING – Based on RingGo prices x total hotel car parking spaces in local authority.
Using a reliable dataset purchased externally.
*Highlighted – Above or below average 25% of results.
Existing Car Park Market
What is the current supply potential across each Sector in each local authority?
£ RANKING – Based on RingGo prices x total no. operated car parking spaces in local authority.
Total no. spaces based on Ian Betts list
*Highlighted– Interesting based on JP Search rankings
Commercial Office Markets
Indicative
Commercial Office Markets
What is the current supply potential across each Sector in each local authority?
£ RANKING – Sq ft. commercial property available X likely car parking ratio = total potential no. spaces x RingGo price
P2P Market
What is the current supply potential across each Sector in each local authority?
*Based on various indicators, as opposed to a single independent indicator.
We will then need to check if there is P2P potential in reality.
Orange – Questionable as to much P2P potential in reality.
JustPark Market Share
Managed Spaces and Strongest Presence
JustPark Market Share
Managed Spaces and Strongest Presence
What is our current market presence in each Sector, in each local authority?
Market Share
Market Share provided is calculated based on:
JustPark Managed Spaces
JustPark Managed Spaces + Existing car park spaces and hotel spaces
P2P spaces is not added to the denominator as it’s supply we’ve created.
Same applies to supply creation with office spaces.
Expansion Projections
Can we hit £37m managed TTV? (10x)
Expansion Projections
What is the current supply potential across each Sector in each local authority?
Preliminary results – Still applying further scrutiny.
JustPark Market Presence: P2P
JustPark Market Presence
What is our current market presence in each Sector, in each local authority?
The total potential P2P market is an unknown until we can find a reliable dataset.
Therefore unable to indicate our market share, or extrapolate expansion projections.