From Dragon’s Den to Level39, the CEO and co-owner of YourParkingSpace has been on quite the journey to build what he claims is the fastest growing parking company in the country.
Mancunian Harrison Woods went before the dragons in 2012 with Primal Parking, an idea that linked homeowners who had unused parking spaces with drivers looking for bays.
After gaining investment offers from Peter Jones and Theo Paphitis, Harrison later sold that business before buying 50% of competitor YourParkingSpace, becoming partners with founder Charles Cridland.
The pair then worked to renew its website and created a booking platform that worked like a hotel or insurance comparison site.
Drivers looking to rent spaces long or short-term search YourParkingSpace and get a list of prices for available bays, either in car parks or in private ownership.
The prospective parker can then book the space on the website, paying the rent and the deposit.
“We are there to provide savings through long-term subscriptions,” he said, “I want to bring trust and transparency back into the parking industry.
“We’re making money by selling, not by ticketing people. We’re there to make as much money as ethically as possible. There’s no messing about.
“Our goal is to be the UK’s largest disruptive platform in this industry and we are on course to do that. We are at least in the top three of the most online transactions in the country for parking.”
In January 2015, YourParkingSpace’s rewired platform took its first £1 and the five-person company is on course to make £5.8million for landlords by the end of the year, with 22,000 locations in its vault, which is growing by 71 locations every day (the equivalent of about 156 spaces).
“We are the fastest growing parking company in the UK, in terms of inventory growth,” Harrison said.
But despite the quick rise to success, Harrison said there were no plans to move out of Level39 in the near future.
The company has been based at the tech accelerator since the space was launched in 2013.
“I won’t be looking at office space,” said Harrison. “I’d rather spend the money on web development and then get the big office when we get there.”
He was also full of praise for Canary Wharf Group’s commitment to the tech sector.
He said: “There is no incubator in Europe that delivers what Level39 does. It adds a certain amount of credibility from day one with the facilities they have here. It’s been an incredible foundation for us.”
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