Co-founded in 2014 by Chetan Chauhan and Mehul Pangtey, Constapark is an on-demand valet parking service that aims to optimise the process of parking cars. Through the app, a user can request a valet to come to a designated spot (within their service location), take their vehicle, and park it in an enclosed space till the patron needs it again. Constapark acts as a valet solution provider for high street retail outlets and also restaurants. It also offers on demand parking for the general public.
What problems is it Catering to?
Most importantly, Constapark tries to eliminate the everyday hassle of finding a parking for your car. The following bullets furnish information regarding the current status of parking in India and the dire need to enhance parking management in the country.
- There is always 65% deficit parking spot during peak time
- High demand low supply (150 million private cars are on road right and by 2018, 6 million more will be added)
- Parking is one of big reasons for the loss of businesses (restaurants, gyms), according to a recent ET report
- In prime locations like MG road are losing 10% of business due lack of parking
How to Access the Service?
The user needs to download the app which is currently available only on Android. Following the download, they have to select where they are heading to on the app itself, and drive to the destination. On arrival, a valet would be there to park the car.
To ensure the safety and security of the car, the company advises the user to confirm the booking code and match the driver’s name and photo which would be given on the app. A two-way security code will be used between the user and valet driver to validate authenticity on both sides.
The valet will then take the user’s car and park it in a secure, legal parking location which is under CCTV surveillance.
The cost of this service is Rs. 70 ( 35 for valet + 35 for parking) for the first hour and second hour onward Rs 35. However, this cost may vary depending upon the day, time etc.
- The company holds a general insurance liability of Rs 5000000
- Full coverage while the car is in the company’s possession right from the moment the valet takes the car to park till he delivers it back
- Full coverage while parked at any of the company’s parking lots
- Full coverage for every action by the valets while the car is in his possession
Which Cities is it Serving in?
Presently, the service is available only in Bangalore between 10 am to 11 pm. But Constapark is looking forward to expand to other cities too in a few months.
A month back, the startup completed 105 rides and hit 200+ app downloads.
Scope and Innovation in this Sector
“90% market is unorganized and only 10% is organized, there is huge scope for technology enabled innovations”, says Chetan.
Who are your potential competitors?
“Right now we are the first one in India with parking on demand solution (Valet anywhere concept). There are people working on parking with different approaches”.
Business & Revenue Model
B2C – On demand parking solutions for user; B2B – Helping Businesses such as Restaurants,
high street retails stores, gyms with parking solution.
The company monetizes from :
- Pay per call plan
- 2.Demand responsive plan
*All the transactions are cashless and users can opt to pay via an online payment gateway or through their Paytm wallet.
The company is currently bootstrapped. It is in the process of raising funds.