Starting a new Business. Business Model, marketing and financial planning for "parkitch"

Seminar paper from the year 2021 in the subject Business economics - Company formation, Business Plans, grade: 1,0, University of Applied Sciences Essen, language: English, abstract: All over the world, people in big cities waste vast amounts of time and money looking for a parking space. In addition to time and money, groaning for a free parking space is also nerve-wracking and environmentally harmful. "parkitch" solves this problem. For this purpose, the author is creating a closed system that makes it possible to find free parking spaces. Users can pass on their vacant parking space to another user. Free parking spaces can be reserved according to the user's needs. "parkitch" thus shifts the annoying search for a parking space to the online world, automating the search for a parking space at a specific place and time.This solution sets new standards in the field of "autonomous" and "predictive parking" and are thus one step closer to a fully connected automotive industry. "parkitch" generates revenue in three ways: a premium app subscription, in-app purchases and as an advertising platform. The market focus is on unmanaged on-street parking, which is home to numerous user segments in private and commercial traffic. The estimated market volume in Germany alone far exceeds billions.