Small pay-parking lot near busy places

Commuters, shoppers, visitors to nearby clinics or offices, and local businesses that need staff or customer parking.

Hourly and daily fees from drop-in drivers, plus monthly passes. Income is what drivers pay minus your lease, insurance, snow clearing, payment fees and maintenance.

• Reading a location and its demand
• Negotiating a lease or management deal
• Organized with simple bookkeeping
• Handling driver questions and complaints

• Check municipal zoning and whether a commercial parking lot needs a development permit or business licence
• Check your province's rules on towing, ticketing and private parking enforcement before you enforce anything
• Commercial general liability insurance, and ask about cover for vehicle damage claims
• Snow clearing, drainage and lighting costs in winter can eat into income
• Check how GST/HST applies to parking fees once you pass the small supplier threshold
• In Quebec, signs and customer information may need to be in French

Startup costs are typically estimated at around $3,000 to $25,000, depending on the lot, signage, line marking and payment system you choose. Winter costs such as snow clearing, drainage and lighting can also eat into income.

Check municipal zoning and whether a commercial parking lot needs a development permit or business licence. Check your province's rules on towing, ticketing and private parking enforcement before enforcing anything. Also check insurance, GST/HST and, in Quebec, French signage.

Monthly revenue is typically estimated at around $1,500 to $8,000, depending on location, demand and your pricing. The minimum time estimate is about 5 hours a week. Costs like snow clearing and lighting can reduce what you keep.