Park Select Franchising - Franchise Q & A

Protecting parking lot owners against violators is in ever-growing demand and Park Select has seen this and is providing a service to fulfill these needs. Park Select takes the responsibility, and the costs, away from the lot owner and transfers them to the parking violator, where it belongs!

Tell us more about the beginning of Park Select.                                     

We owned a few successful small businesses (restaurants) which continually experienced problems with parking violators. We found that there were no viable options available that would discourage parking violators and allow us the continual uninterrupted use of our own property! Towing was ineffective and created a negative atmosphere that was harmful to potential client relationships; and, hiring security guards or lot attendants was expensive. Furthermore, unauthorized use of our parking lots wasn't just an inconvenience to our staff and clients who were forced to park elsewhere; the additional traffic created a liability for our business! We were left with no alternative but to develop a solution ourselves. Innovation is truly born out of necessity, and once we realized the unique opportunity before us, we sold our restaurants and concentrated our efforts entirely on developing the Park Select business model.

Since the beginning, how has your vision for Park Select changed?

Our original vision was to perfect our business model and then to expand into surrounding markets ourselves, opening company owned Park Select offices and hiring management staff to help run them. We had, after all, always employed and managed large numbers of people in our past businesses, so this plan seemed the obvious method of growth.

Yet, we found that the Park Select business model is uniquely capable of meeting great consumer demand and generating maximum profit, but with minimal staffing. We quickly came to appreciate this less complicated and informal environment. Furthermore, we recognized the fact that no manager is as motivated to succeed as a business owner. And so, we decided that franchise development was a much better model for Park Select expansion.

The proven systems and tools we had developed and employed successfully over the last ten years were painstakingly modified to accommodate the rapid growth and other demands that franchising would create. And now we are ready add new creative business people to our ranks!

What do you see as the most important factor for a franchisee to look for in choosing a franchise?

Profit potential and ongoing franchise support would be at the top of the list for a Park Select franchisee candidate. A Park Select franchise requires very little investment, yet has an amazing profit potential. There is no expensive build out - no expensive equipment to purchase - no large inventory to maintain - and minimal employees are needed. The support systems and tools provided by Park Select Franchising Opportunities eliminate many other expenses such as developing an operational website, credit card processing and collections just to name a few. These and other support services, as well as our comprehensive training program allow our franchisees to begin operations, and thus begin establishing revenue, very quickly.

What make Park Select stand out?

The parking industry is largely unaffected by the changing market and economic uncertainty many industries face today. As long as people drive, they will park. And as long as people park, lot owners will need Park Select's services. And since the Park Select business model is built on the premise of transferring the cost of parking management from the lot owner to the parking violator, our service will always be affordable - most often it's free! And even in today's cost conscience business world, EVERYONE can afford free!

What do you look for in a potential franchisee?

Personal integrity and responsibility are key qualities. Enthusiasm, determination and good communication skills are equally important. Candidates that have some experience in management and/or sales would be ideal, but a strong desire to learn and attention to detail would more than make up for any lack of experience. What we do is unique, if a candidate is willing to employ the tried and true methods and tools we provide, they will quickly learn all they need to know.

What do your franchise fees and royalties cover?

• Comprehensive training program
• On-Site training and Grand-Opening support
• Website construction and hosting; complete with operations and marketing tools
• Online and Toll-free Credit Card processing
• Toll-free client and office support services, Monday through Friday, 9am until 4pm
• Online Franchisee Support Center with 24 hour access to resources such as: a document library, print and marketing materials, training materials, employee development materials, easy-order supplies list, easy-order uniform materials, franchise reports and more
• Collections Processing Services
• State of the Art lease equipment
• Continual ongoing development of systems and tools
• Standardized client contracts and agreements
• Standardized and easy to use system for client reporting, accounting and data  

Do you protect your franchisees territories?

Each proposed territory will be evaluated independently by the franchisee and franchisor, using factors such as population density, number of parking facilities and lots, and, the physical boundaries of the city or area. The resulting territory will be mapped and added as an amendment to the franchise agreement. Our desire is to promote steady and reliable growth and performance; while providing the franchisee an environment of exclusive opportunity. In order to accomplish this we intend to:

Award protected territories

Initially develop a specific and realistic plan for each franchise's growth, identifying performance and growth indicators and goals

Regularly evaluate the franchise using these performance and growth indicators, in order to offer tangible and on-going support to the franchisee in meeting and exceeding their established performance goals

How do you explain Park Select's Success?

Because there is a genuine need for the professional services that we provide; and, we have developed the systems and tools necessary to ensure that these service are affordable for any business or property owner.

Where do you see Park Select throughout the next decade?

In five years we hope to have established a presence in most major cities on the East Coast and throughout the southern states. Within 10 years we hope to have a presence in all remaining states.

What is your favorite advice for new franchisees to help them succeed?

Stay organized and use the tools! Creativity is key to growth, but remember� you don't have to recreate the wheel every time. Using the abundant franchise resources available with allow you to concentrate your time and efforts on growing your business.

What would you tell potential franchisees that may be nervous about the financial burdens of starting a franchise?

It is wise to consider well the financial responsibility. For most people, this is the single most important business decision they will have ever made, and to so without some nervousness wouldn't be natural. But, quite frankly, there is no other franchise model that I am aware of that has such a minimum required investment to begin operations and offers such a large and relatively fast return.  With no substantial inventory, little or no staff and no costly build-out , the profit potential is huge.

Can you tell us more about your franchise fee?

Our franchise fee has been established as $40K. However, we are aggressively seeking our first franchise candidates and we are determined to attract the best and to give them a jumpstart on achieving success; therefore, we have decided to discount the first five franchises awarded by 50%, thus for the first five franchisees selected a franchise fee of only $20K will apply.

On average, how long does it take to start a new franchise from the franchisees point of view?

1-2 months

What was your background and experience before founding this franchise?

Our founder, Kirk Iventosch, is a business major and specialized in owning and operating restaurants for over 20 years. As a hands-on owner, Kirk managed the daily operations of half a dozen successful restaurants, before identifying the need for effective parking solutions for small business and property owners. For the last ten years Kirk has worked to perfect the Park Select business model.

Sandra Iventosch worked in the food, beverage and hospitality industry for over 15 years in the areas of management, training and daily operations. She worked as a private consultant directing opening operations and developing training resources for numerous organizations before joining husband Kirk in development and operations of Park Select.