How One College Turned Empty Parking Spots Into Big Money

A college in the New York City suburbs is earning money by providing valet parking and parking lot shuttles to the nearby Westchester County Airport. According to an article from the Associated Press, Purchase College makes about $80,000 for scholarships, grants and capital improvements from their 24-hour service.

The Purchase Park 2 Fly service was the brainchild of one of the business classes a few years ago. It was a way for the college to make money off the 1,000 or so vacant parking spaces that the campus has each day. The school developed a professional relationship with the county in order to provide this service to travelers.

With airport parking becoming more congested and more expensive, the college — who charges $10 a day for parking spaces that are reserved online — started seeing more users of their service. The service has taken in about 12,600 cars in the first ten months of the year and anticipates much more business as the holiday season progresses. Last Thanksgiving, 584 vehicles were parked through the Purchase Park 2 Fly program.

Like airport parking, education is also becoming more and more expensive these days, and the entrepreneurial spirit is taking hold across the country. It only takes one great idea such as turning empty parking into valet and shuttle service to earn a lot of money to help students and programs. Do you have an idea that might help your college raise money for scholarships, additional student programs, capital improvements or other needed items? Remember, it’s never too early to begin making real world contributions.

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