5 Factors That Affect Valet Parking Service Cost

Are you thinking of offering valet parking to visitors at your facility? Customer satisfaction is essential, whether you’re the operations manager of a hotel, retail center, or medical facility. But what does it cost to establish a valet parking service? 

In this blog, we explain five factors that influence valet parking service cost, so you can make a budget-smart decision and choose the right valet parking service provider to fit your property’s unique needs. Discover the benefits of valet parking, from improved traffic flow management to enhancing the guest parking experience. 

FC Parking provides expert professional parking services, including elite valet parking, to hospitals, restaurants, hotels, residential buildings, and retail centers across the U.S.

Why Should You Offer Valet Parking?

There are several reasons to offer valet parking to your customers or visitors. 

• Smoother flow of vehicle and pedestrian traffic 
• Less congestion near the building’s entrance
• Added convenience for customers (not having to find a parking space)
• Minimizes walking distance for retail customers, hospital patients, and their guests
• Lends an air of sophistication to your facility
• Improves the overall customer experience, leading to more positive reviews, repeat business, and recommendations to family and friends  

Especially if your facility is in a large urban area, where parking can be challenging, valet parking is a major “perk” that will encourage people to visit your facility.

What Factors Impact Valet Parking Service Cost?

Once you’ve determined that you want to offer valet parking, how do you know what to consider when weighing the quotes from different services? And are there any adjustments you can make to satisfy your operational needs and budget? 

Here are five issues to consider:

1. Location

How does the location and type of property affect valet pricing? Valet parking costs can vary based on your location. Urban settings with high demand, limited parking spaces, higher staff wages, and higher insurance premiums often cost more. Your local and state regulations can also impact the cost, especially when it comes to vital insurance and liability coverage. 

2. Property Type

Properties that offer valet parking for guests at high-end restaurants, luxury hotels, and exclusive retail stores may have higher costs due to the expected amenities and level of service. The valet service you contract with should provide best-of-class service at no additional charge.

3. Number of Valet Attendants and Service Hours

How do staffing needs and service hours influence valet costs? The number of required attendants depends on how many visitors request valet service. Staffing requirements are difficult to predict, even at a retail store with set hours. There may be busier times of the day for your facility, but you don’t want to have valet parking staff standing around without customers.

The more attendees you have, the more efficiently they will manage heavy traffic and customer flow, and the more it will cost. But what if your needs vary? Some valet companies have minimum hours for their service contract, meaning you may have to pay for a longer time than you need. 

For retail centers, hotels, and hospital facilities, your valet service should be able to adjust the number of attendants according to your changing requirements so that their service is cost-effective.

4. Event Size and Duration

When hiring valet services for a special event, the event’s size and duration affect the cost. Naturally, larger events require more valet staff to handle the increased traffic. Longer events also increase the valet attendants’ commitment, raising labor costs. Event size may not seem relevant for the types of facilities we’re discussing. However, a hospital may have visiting doctors or administrators, or a hectic schedule of patients coming in for tests and procedures. A retail center may have a special sales event that attracts more customers. And a hotel may be hosting a convention, leading to more visitors than usual. 

5. Technology Integrations

How does technology, like parking management systems, impact valet pricing? Advanced technology can have a profound impact on the valet parking service cost. A parking facility can track demand to optimize its valet service and space utilization, increasing revenue opportunities and providing customers with more efficient services.  

A valet service provider can offer a host of technological features, such as:

• GPS verified time and attendance tracking of valet staff
• Vehicle activity
• Text-in vehicle retrieval
• Point of sale payment collection
• Automated customer surveys
• Real-time scheduling for greater efficiency 

A valet service using the latest technology can also provide automated reports. By analyzing data, the company can ensure the appropriate staff coverage at the correct times. This data-informed strategy saves facilities money by only providing the coverage needed to meet the immediate demand.

Choose FC Parking For Customized Valet Parking Services

Now that you know the five top factors affecting valet costs, how can you find the best company to help you minimize those costs while providing the best service for your visitors? At FC Parking, we don’t have “one-size-fits-all” valet parking. We customize our valet services based on your requirements, from valet parking and shuttle services to parking facility management. We use the latest parking technology solutions to provide convenience for your visitors, analyze your valet service needs, and provide the proper coverage when needed, with our nationwide, highly trained team of over 600 employees.    

Contact the parking experts at FC Parking to get a tailored valet service plan and competitive pricing that fits your property’s unique needs.