Secrets of the $131 Billion Parking Industry with Jonathon Barkl (Co-founder and CEO of AirGarage)
Podcast: The Peel with Turner NovakPublished On: Wed Nov 08 2023
Description: Jonathon Barkl is the Co-founder and CEO of AirGarage, a full-stack parking management company that helps real estate owners increase their income.Jonathon and his co-founders Chelsea and Scott started the company in 2017. They’ve since raised roughly $15 million from investors including Founders Fund, Floodgate, a16z, Abstract, and prior guest of the show Ryan Delk.— Brought to you by Secureframe, the automated compliance platform built by compliance experts. Get compliant with security and privacy frameworks like SOC 2, ISO 27001, HIPAA, GDPR, and more.Sign-up here: https://bit.ly/3QOr2eo— Topics discussed: A crash course on the business model of parking Why parking lots make most of their money from tickets and towing The reason American cities dedicate up to 30% of space to parking How the $131 Billion parking industry evolved to be so complicated and outdated Why dynamic pricing in parking is harder than hotels and airlines The three primary business models for a parking lot Why Air Garage can increase a parking lots profitability by 4-5x How part of its business was inspired by scooter companies like Bird and Lime Starting “Airbnb for Driveways” in 2016 to solve their own problem as college students The sales lessons Jonathon learned doing door-to-door sales in the Arizona heat How getting scammed out of $6,000 led to pivoting their business model Moving to San Francisco with no connections and raising a Seed round How they closed a Series A in a week The importance of investor brand when hiring early employees Why Jonathon cares so much about branding as a parking company—Referenced: https://www.airgarage.com/ https://parkingreform.org/resources/parking-lot-map/ Mac vs PC ads: https://www.youtube.com/watch?v=0eEG5LVXdKo Never Split the Difference: https://www.amazon.com/Never-Split-Difference-Negotiating-Depended/dp/0062407805 https://en.wikipedia.org/wiki/Detroit https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States—Where to find Jonathon: Twitter: https://twitter.com/jonathonbarkl LinkedIn: https://www.linkedin.com/in/jonathonbarkl—Where to find Turner: Newsletter: https://www.thespl.it Twitter: https://twitter.com/TurnerNovak Banana Capital: https://bananacapital.vc—Production and distribution by: https://www.supermix.io—Want to sponsor the show? https://docs.google.com/forms/d/e/1FAIpQLSebvhBlDDfHJyQdQWs8RwpFxWg-UbG0H-VFey05QSHvLxkZPQ/viewform
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