Entrepreneurs / Small Business  October 12, 2017

Students devise parking rental platform for sporting events

FORT COLLINS — Two Colorado State University students are using their knowledge of their college — specifically, its lack of parking — to launch their business.

Cody GrandPre and Stein Chistensen, both CSU seniors, developed a website called ParkIt, where people can rent out their driveways for football games. The service is limited to the University of Colorado Boulder and CSU and to sporting events, but the two already have plans to expand to other campuses and occasions.

GrandPre said he and Christensen were inspired to make the website after seeing people stand outside on game days with signs advertising their parking spots.

“Rather than do it the old-fashioned way, we thought it might be easier if people had a platform,” he said. “That way, they don’t even have to be at their house.”

Renting out a spot works much like renting out a room or house on AirBnb, GrandPre said, adding that ParkIt is modeled off AirBnb. Users can select a city where ParkIt is offered, currently Boulder or Fort Collins, then select the event or game for which they need parking. They can then see rental options and prices for different parking spots. To list a spot, users just need to upload a photo and details of the location. ParkIt takes 20 percent of the revenue from each transaction.

Although ParkIt has been in service only for two months, GrandPre said they’re already looking at adding features to the platform, such as a host guarantee in case there are ever liability issues.

ParkIt is also looking at expanding into student parking, where residents near CSU can rent out their driveways Monday through Friday to students looking for a parking spot.

In January, after GrandPre and Christensen graduate, the plan is to take ParkIt on the road, visiting about 15 universities that have a similar parking shortage. And while there are other parking apps out there, GrandPre said most focus on renting out commercial parking spaces, and he isn’t aware of any focused on student parking like ParkIt is.

“This makes the most sense,” he said. “You don’t need to be in your driveway if you want to do something else. All the logistics are handled through the platform. And drivers can reserve a parking space in advance, so they don’t have to drive three laps around wherever they are going to.”

 

FORT COLLINS — Two Colorado State University students are using their knowledge of their college — specifically, its lack of parking — to launch their business.

Cody GrandPre and Stein Chistensen, both CSU seniors, developed a website called ParkIt, where people can rent out their driveways for football games. The service is limited to the University of Colorado Boulder and CSU and to sporting events, but the two already have plans to expand to other campuses and occasions.

GrandPre said he and Christensen were inspired to make the website after…

Related Content