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Evan Shelley of Truck Parking Club Talks Growth and Insights on Bloomberg Podcast

Insights from Evan Shelley: Truck Parking Club's Journey

In a revealing interview on the Bloomberg Intelligence Talking Transports podcast, Evan Shelley, CEO and Co-Founder of Truck Parking Club, shared the inspiring growth narrative of his company. This podcast episode, featuring senior analyst Lee Klaskow, dives into how a failed real estate venture became an innovative solution to one of the trucking industry's most persistent challenges: parking.

From Real Estate to Innovative Marketplace

Shelley's entrepreneurial journey took an unexpected turn when his plans to develop truck parking on industrial property encountered significant regulatory hurdles. With clear market demand but bureaucratic restrictions, he realized a new approach was essential. “When the municipality shut me down even on industrial-zoned land, that’s when the lightbulb went off – we needed a different approach,” he reflected during the podcast.

This epiphany led to the creation of a marketplace model, which has seen impressive growth, adding 8-10 new properties daily through organic interest alone. The platform is designed to benefit both owner-operators and company drivers in equal measures, as more employers recognize parking availability as a critical factor for driver retention and satisfaction.

Surprising Uses and Market Insights

During the conversation, several intriguing facts about the service were unveiled. Shelley noted that the average parking duration is not limited to overnight stays, typically spanning 2-3 days. Additionally, mid-size carriers are leveraging the platform for strategic trailer placement, showcasing how versatile the service has become. Parking rates vary significantly, with costs averaging between $20 to $100 depending on the market.

Interestingly, local drivers have started using the platform for monthly bookings, to dodge lengthy commutes of up to 45 minutes, further illustrating the service's adaptability. “We built a self-service app and our customers decided how to use it,” Shelley elaborated, emphasizing how users shape the service's evolution.

Harnessing Data Intelligence and Partnerships

Beyond merely addressing parking needs, Truck Parking Club is positioned to provide valuable market insights. “We can watch parking demand move across the country like a heat map,” Shelley explained, indicating the depth of data analytics available. Partnerships are also playing a crucial role in their growth, with collaborations with firms like Prime Storage, which is aiming for 100 locations, and logistics companies like Logistics Plus that are finding value in monetizing excess warehouse yard space. As such, 60 of the top 100 carriers are now actively utilizing the platform.

Overcoming Growth Challenges

Shelley was candid about the difficulties of establishing a two-sided marketplace. Transitioning from proof of concept to achieving product-market fit is often fraught with challenges. He likened it to “building the airplane while flying,” acknowledging the technological hiccups and operational hurdles faced along the way. A single negative review could jeopardize the burgeoning enterprise, yet Shelley is proud of the resilience shown, especially given the company launched in a downturn for the trucking industry.

Since 2022, Truck Parking Club has rapidly expanded to over 2,100 locations and has ambitious plans to surpass 10,000 locations within the next 20 months.

Listen to the Podcast for More Insights

Listeners interested in exploring multi-day parking solutions, trailer placement services, and the intricate economics of the truck parking landscape can tune into the full interview on various platforms:

About Truck Parking Club

Truck Parking Club connects truckers with easily reservable parking spaces across the United States, enhancing the efficiency and experience of truck parking through technology. The platform is powered by contributions from property owners across various sectors, including trucking companies and real estate investors, making it a comprehensive solution for trucking needs.