SaaS Interviews with CEOs, Startups, Founders
642: ParkEvergreen $100/mo Per Airport Parking Space to Help You Park Faster with CEO Ben Cantey
27 Apr 2017
Chapter 1: What is the main topic discussed in this episode?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base.
Chapter 2: What is Park Evergreen and how does it revolutionize airport parking?
You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have.
Chapter 3: How does geolocation technology enhance the parking experience?
I'm now at $20,000 per top. Five and six million. He is hell-bent on global domination. We just broke our 100,000-unit soul mark. And I'm your host, Nathan Latka. Many of you who I've met in person have seen my unbelievable dashboards that I built. You know, I'm an analytics-like crazy person.
I love the data, and I love presenting the data in beautiful dashboards that my team can use on their mobile devices, their phones, and TVs throughout the office. Now, the way I do this without having to hire a big development team is at nathanlacka.com forward slash analytics.
Chapter 4: What is the business model behind Park Evergreen?
It's using a company called Clipfolio, and I'll tell you more later on in the show how I use them.
Chapter 5: How does Park Evergreen ensure a better traveler experience?
It's nathanlacka.com forward slash analytics. This is episode 642. Coming up tomorrow morning, you'll learn from John Ferreira, the CEO of Nimble CRM. They passed $1.5 million in annual recurring revenue last year, now doing about $200,000 in monthly recurring revenue as the CRM space really heats up. Will he win? Good morning, everybody. Nathan Latke here. My guest this morning is Ben Canty.
Chapter 6: What challenges does Park Evergreen face in user acquisition?
He's a San Francisco entrepreneur who's passionate about solving problems and changing lives through technology. He teaches entrepreneurship and lean methodology at universities, high schools, and corporations in his free time, and he's launching some badass technology with a handful of mad geniuses in the parking space. Ben, are you ready to take us to the top?
Absolutely, Nathan. Thanks for the time.
Hey, thanks for coming on. So the company's called ParkEvergreen.com. Tell us what it does and how do you make it sustainable? How do you make money?
Definitely.
Chapter 7: What is the market size and potential for airport parking?
Well, we are revolutionizing the way that parking is sold and managed at airports. Airports currently use a whole stack of services, suppliers, vendors, contractors, hardware, all of it completely outdated. We come in and clean up that entire mess with our simple software solution. So it's pretty cool.
So are you helping the airports manage it better with like data or are you helping consumers find the open spot on airport faster?
It's actually both. So we use geolocation technology to bring physical parking online where it can be managed with our cloud-based control panel. And then travelers, business travelers, frequent travelers can use our mobile app to find, reserve, pay for parking, and then even find their car when they get back from their trip.
So what's the business model? I mean, is this a marketplace model?
Chapter 8: How does Park Evergreen plan to scale its operations?
It is a bit. However, the marketplace is a little easier than some because people show up to the airport and they have to park. So user acquisition is a little bit easier on our side. Never easy to get people to download it now, but a little easier in this case. And then it's more focused on bookending the traveler experience. For us, that's what we're truly passionate about.
All of us came from consulting backgrounds, traveling three, four times a month. So something we were all pretty passionate about.
Well, so let's get more kind of clear on the model before I get more into your story. So like, tell me about the last dollar of revenue you made, like who paid it and how'd you make it?
Well, the last dollar of revenue we made was actually when we were running our off-street parking. We started this as like the classic fine pay for parking, but street parking, surface lots, parking garages. So we switched our model in December and started going after airports pretty hard.
We've got three deals booked, and those are kind of under a cone of silence because we're working with cities, so I can't go into too much detail. But we'll book our first revenue in June, and we'll actually move from zero to about $170,000 in MRR starting in July. And then keep scaling from there. So pretty exciting.
And that's booked, right? Like you have contracts signed for the 177 and MRR?
Yes, those contracts will be signed in the next week and a half, which is why I can't really discuss too much.
Okay, got it. So you're not quite at the finish line, but it feels good.
Yeah, it's one of those moments where you realize you've got product market fit, which goes way beyond just market timing. You know, the top U.S. airports, actually most U.S. airports right now are launching products.
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