In an age where there’s an AirBnB model for everything, Rover is the next startup looking to cash in. On this week’s episode of The Disruptors, CEO Tim Wootton went on the show to talk about how his service is helping homeowners make money off their unused parking spots.
“If you own a driveway it probably sits empty for most of the day, your business parking probably sits empty on weekends. Apartments have empty parking spots 24 hours a day,” said Wootton. “What Rover is trying to do is take that under-utilized asset and make it available for customers who are looking to park.”
Launched in July, the company so far has had 10,000 people download the app. Besides Toronto, the company has sparking spots available in Montreal, Ottawa, Calgary, and Edmonton. “What we’re looking for right now is to expand across Canada and really get into the US.”
While BetaKit previously reported that the service was illegal in Toronto, Wootton explained that this has since changed due to bylaw changes that now allow people to rent parking spaces for one person’s exclusive use.
Co-host Amber Kanwar expressed some concern that the parking industry would be disrupted by driverless cars in the future. Bruce Croxon countered that, in today’s sharing economy, it had the potential to be a great tool. “The sharing economy makes better use of what we have, excess inventory, so there’s no cost he incurs by having to put something in his storeroom,” said Croxon. “From that perspective I think he’s bang-on the trend. It’s small, but I think he’ll be able to create a market.”
Watch the video below:
BetaKit is a production partner on The Disruptors. Tune in to BNN every Thursday night at 7pm for full episodes!