Interview insights: I interviewed two homeowners in SF and asked them about their opinions on driving and parking in SF, and their opinions on renting out their driveways space for short-term parking. The first interviewee provided discouraging responses since they have a tenant that prevents them from renting out their driveway at ease, since the driveway has to be clear for the tenant’s car to enter and exit the garage. However, they stated that since their neighborhood is close to Golden Gate Park, the streets are always crowded with parked cars, which reveals potential hosts in nearby houses. The second interviewee was open to renting their driveway but mentioned that they lived in an area with sufficient street parking.
TAM – Total Available Market (How many people would want/need product?…)
Drivers: Total number of licensed individuals in the US
- In 2022 there are 238.2 million licensed drivers in the US
Hosters: Total number of parking spaces in the US
- Parking spaces take up ⅓ of area in major city
- There are estimated 8 parking spaces per car in the US
- There are 289.5 million cars in the US
- 289.5 million / 8 = 36,187,500 parking spaces
SAM – Served Available Market (How many people need or can use product?…)
Background info:
- Top cities by population density (in millions of people)
- NYC (8.6 million), SF (0.8), Boston (0.6), Chicago (2.7), Philadelphia (1.5), Miami (0.4)
Drivers: Total number of licensed individuals hanging in/around major US cities
- Total number of licensed individuals in the US * (number of people + visitors in major US cities / number of people in the US)
- 30% all US licensed drivers are either in or visit US Major cities
- 90million licensed people that would be likely to use our app to visit major cities
- Number of licensed individuals (in millions of people) for most densely populated cities:
- NYC (3.6), SF (0.3), Boston (0.2), Chicago (1.1), Philadelphia (0.6), Miami (0.1)
- On average, 40k people visit San Francisco per day
- On average, 700k people visit New York per day (tourists, out-of-town, etc.)
Hosters: Total number of residential parking spaces in major US cities
- Major cities
- People who are driving in major cities – residents, commuters, event goers, day trippers, vacationers, etc.
- People who own houses with driveways / other parking spots in major cities
- 70% of houses have at least a single driveway
SOM – Serviceable Obtainable Market (Where you begin – should be comfortable reaching these people)
- San Francisco outskirts – Sunset, Richmond, Pac Heights, Marina, Presidio, NoPa, Mission, Noe Valley, Bernal Heights
- Sunset: 16k + 17k + 21k
- Richmond: 17k + 24k + 17k
- Pac Heights: 19k + 12k
- Marina: 13k
- NoPa: 11k
- Mission: 11k + 11k + 60k
- Noe Valley: 15k
- Bernal Heights: 25k
- Hayes Valley: 14k
- Frequent visitors to SF: students, families in the Bay Area
