Invest.join the journey

Phista is an innovative project, driven by motivated and determined people

BUSINESS PLAN

WHY PHISTA?

Help motorists find a parking space more easily and quickly.

Build a community of regular users on the app and identify many  parking spaces.

Phista aims to reduce greenhouse gas (GHG) emissions from the search for parking.

 

A study by INRIX found that the average North american driver spends 17 hours a year looking for a parking spot.

WHAT WE PROPOSE

Building a unique mobile app that allows its users to rent their private parking lots or find parking in advance or in real time.

COMPANY OVERVIEW

Description

Corporation

Mobile application (Android and iOS).

Established in Quebec City in 2020.

Contactless parking rental and payment.

 

Mission, Vision, Value

Mission Statement: Time is the most precious thing we have. No one should waste their precious time searching for a parking space.

 Vision:  Phista wants to simplify the search for parking for everyone and thus eliminate all the inconveniences associated with it (stress, anxiety, road rage, delays, etc).

Values : Staff, innovation and service

 

Staff:  We invest in the development of our team by offering training and advancement opportunities. At Phista, we believe that a strong and dedicated team is the key to success.

Innovation: We pride ourselves on offering a state-of-the-art application that relies on the accuracy of available data.  We are attentive to market developments and will continue to innovate and improve our application in order to always provide a user-friendly experience for our users.

Service: We are dedicated to providing the easiest and most user-friendly mobile experience for our users.  We offer 24/7 support service.

EXECUTIVE TEAM

MARTIN BELPORO

CEO/CTO/CO-FOUNDER

DAN BASAMBOMBO

CEO/CfO/CMO/CO-FOUNDER

Industry Overview and Trends

In 2019, total domestic vehicle registrations reached 35.7 million, up 1.8 percent from 2018.

The U.S. has nearly 2 billion parking spaces for about 250 million cars.

Americans spend $72.7 billion searching for a parking space.

Drivers spend an average of 17 hours a year searching for parking spaces.

In 2018, there were 730 establishments in this country whose primary business is operating parking lots and garages. These establishments provide temporary parking services for motor vehicles, typically on an hourly, daily or monthly basis.

Indigo Canada   is a market leader and the most trusted brand in the parking and personal mobility industry, with a continued focus on state-of-the-art technology and innovation.

They own 245,000 parking spaces in 30 cities.

One of the biggest challenges with parking in the city is finding a space that is close to your destination and worth the price.

MARKET

Overview of Market Trends

The size of the parking market in Canada is $323 million.

Major competitors are focusing their efforts on urban parking spaces.

 They simplify the search for parking in major city parking lots.

Target market

Phista offers an application where people can rent out their private parking space or find a free parking space.

Phista offers a turnkey service for motorists looking for a parking space.

Drivers want to find a parking space in a simple and user-friendly way.

They no longer want to spend several minutes driving around in circles to find a parking space.

Drivers are looking for safe parking spaces at a good price.

They want to stop driving in circles to find the best value near their destination.

People are increasingly looking for a new source of income.

The possibility of renting out one’s own private parking space is an interesting option for the person looking for a little extra income.

Over the last 17 years ownership has exploded in Canada and now stands at 87%.

TECHNOLOGY Trends

Several mobile applications to help find parking have emerged in the last ten years.

There is an increasing competition in the parking assistance application market.

People are spending more and more time on their cell phones.

In 2019, they spent an average of 3.5 hours per day on the mobile internet, a 20% increase over 2018.

In fact, there has been an increase in the use of mobile apps to make deliveries, reservations, payments and more.

competitors

Direct competitors include a few Canadian applications and websites of the same kind.

Honk Mobile, Rumbo Mobile, Espace Park, Park Stash, ParkMe, BestParking, Parkopedia (present in 75 countries), Rover, Green P and others, ClickNpark.

Indirect competitors are the sites of the giants of the parking industry

(For example: Indigo, SP+ Parking, Qpark and others)

Indigo has 48% of the market (parking lots).

 

Competitors’ strengths and weaknesses

The direct competitors are mainly recent applications (startups) and have small work teams.

These applications are mainly focused on urban parking rentals (street and garage).

The majority of these applications are still unknown to the general public.

Although still unknown to the general public, these applications are already launched on the market and present in major cities (Toronto and Montreal).

Indirect competitors have websites and sometimes mobile applications.

They are well known to the general public.

They cannot offer the “price comparison” aspect as direct competitors do.

They have a larger market share and infrastructure of their own.

They have more capital.




Competitive advantage and differentiation factor

Phista allows its users to earn additional income by renting their private parking spaces.

Phista allows users to compare the price of different parking spaces available.

Phista offers a user-friendly and simple experience to users.

The application is built so those even less experienced users can easily browse on it.

Differentiating factors:

Possibility to put private parking space for rent (additional income for users)

Map showing free parking (streets and alleys) available in real time. (real-time map)

Weather warnings (ice, storms, snow removal operations and others) – Phase 2 

Mention of valid parking hours on streets and alleys (as indicated on the signs). – Phase 2

 

Nothing is more expensive than a missed opportunity.
So, take your shot!

EMERGENCY RISK ASSESSMENT

Obtaining agreement from individuals to lease their parking.

Communication and partnership with the various real estate management companies.

Providing documentation and information to tenants (conditions of use of the application).

Providing documentation and information to tenants (conditions of use of the application)

Communication and partnership with the different levels of government of the cities (city hall, city councilors and others.)

Benefits for cities: increased visibility of paid parking spaces. (potential financial impact)

FUNDING

WE NEED 30,000$ TO COMPLETE THE FIRST RELEASE OF THE APP

 

20,700$ ON THE TECH SIDE

9,300$ ON THE MARKETING AND SALES

 

CLICK ON THE IMAGE BELOW TO HAVE  MORE DETAILS ON THE BUDGET.

PLAN OF ACTION

Project objectives

Develop a revolutionary application in the parking market offering several functionalities that will allow, among other things, users to create a second source of income through the rental of their personal parking space and the ability to find a parking space easily.

We expect 15$ avr. per transaction

Short term (1 year):

2000 transactions = 30.000$

Medium Term (3 years)

8000 transactions = 120.000$

Medium term goals will be re-evaluated at the end of the first year.

Long-term (more than 5 years):

15000 transactions = 225.000$

Be the market leader in parking apps in North America.