Never circle the block again.
A valet meets you at the curb, parks your car on the street, and hands the keys back. $10 all day, anywhere in Manhattan.
TL;DR
- Thesis
- There are two ways to park in Manhattan: do it yourself or pay a garage. Both suck. We send a valet to your curb, park your car on the street, and hand the keys back.
- Product
- Four flat prices, one app. Park $10 all day, Retrieve $5, Park + Retrieve $13, ASP Move $15. One tap each.
- Moat
- We rent no garages. The street is free. The only costs are drivers (paid per job) and insurance (~$2,600/mo). Every park makes money the day we do it, and every block we work gets cheaper to run.
- Economics
- 30-70 split. Drivers keep 70% of earnings, we keep 30%. Fixed costs spread thinner the more we do.
- GTM
- Hotels and venues hand us customers for free. Blue Moon and The Allen are live in the LES today. The app grows on its own on top of that.
- Expansion
- Geographic: across Manhattan and into the boroughs by Q1 2027. Vertical: the same drivers do car-wash runs, fuel-ups, and grocery — all live by December 2026.
Uber didn't change the ride — it changed everything around it. We're doing that for parking.
The problem
Every driver loses something to parking every day. Nobody has fixed it in forty years.
~12M
Parking tickets issued in NYC in 2024
$1.1B
Collected by NYC in parking fines
~350K
Registered cars in Manhattan
30+ min
Avg time looking for a spot, dense Manhattan
The two options today both fail.
Garages
Cost
$40-65 / day · $550-700 / mo
What goes wrong
Walk-to-walk-from. Wrong neighborhood half the time.
Street parking
Cost
$0 (until it isn't)
What goes wrong
30+ min cruising. ASP days. $65-115 tickets. Tows.
| Option | Cost | What goes wrong |
|---|---|---|
| Garages | $40-65 / day · $550-700 / mo | Walk-to-walk-from. Wrong neighborhood half the time. |
| Street parking | $0 (until it isn't) | 30+ min cruising. ASP days. $65-115 tickets. Tows. |
Apps have tried it before. Luxe and ZIRX rented garage capacity, burned $25M+, and folded in 2017.
Nobody needs a cheaper garage. They need someone else to do the parking.
The hidden cost
Per UCLA's Donald Shoup: cruising time + fuel + tickets cost the average urban driver more per year than a monthly garage.
Cruising (30 min × $25/hr)
Per trip
$12.50
Per year
~$1,950
Fuel + wear
Per trip
$1.50
Per year
~$235
Ticket exposure (1.5 / yr × $90)
Per trip
—
Per year
~$135
Total hidden cost
Per trip
—
Per year
~$2,300 / yr
| Cost | Per trip | Per year |
|---|---|---|
| Cruising (30 min × $25/hr) | $12.50 | ~$1,950 |
| Fuel + wear | $1.50 | ~$235 |
| Ticket exposure (1.5 / yr × $90) | — | ~$135 |
| Total hidden cost | — | ~$2,300 / yr |
At $10/day with us, one parking event a week is already cheaper than the hidden cost of "free."
The product
One app, four prices. You pick the one that fits the moment.
Parking
Price
$10 all day
What it is
We come to you. Park on the street.
Retrieval
Price
$5 per pickup
What it is
We bring your car back to your curb — ours or yours.
Park + Retrieve
Price
$13 round trip
What it is
Both legs bundled. Auto-retrieved at end of duration. Extendable. $3 cancel refund.
ASP Move
Price
$15 per move
What it is
We move your street-parked car for alternate-side cleaning.
| Service | Price | What it is |
|---|---|---|
| Parking | $10 all day | We come to you. Park on the street. |
| Retrieval | $5 per pickup | We bring your car back to your curb — ours or yours. |
| Park + Retrieve | $13 round trip | Both legs bundled. Auto-retrieved at end of duration. Extendable. $3 cancel refund. |
| ASP Move | $15 per move | We move your street-parked car for alternate-side cleaning. |
How it works
Same protocol every event. Zero ambiguity about who has the car.
01 · Request
What happens
Customer taps in the app, drops a pin, picks duration.
How we lock it
Stripe pre-authorizes. Driver dispatched within seconds.
02 · Curbside
What happens
Driver arrives at the customer's curb on foot, e-bike, or scooter.
How we lock it
Customer sees driver in real-time on Apple Maps. ETA pinned.
03 · Identity
What happens
Customer types the code the driver shows in-app.
How we lock it
Confirms credentialed driver, not an impostor.
04 · Photos
What happens
Driver photographs the car from every angle.
How we lock it
Pre-handoff condition record. Pushed to chat instantly.
05 · Park
What happens
Driver parks legally on the street, then walks the keys back to the customer.
How we lock it
Spot photographed + GPS pin pushed. Insured in-transit + parked. Customer holds the keys for the entire parked window.
06 · Return
What happens
Customer taps retrieve. Driver returns to the curb, customer hands keys back, driver brings the car back — typically faster than the inbound park. Schedule in advance to shrink it further.
How we lock it
Same OTP exchange in reverse. Final photo set. Stripe charged.
| Step | What happens | How we lock it |
|---|---|---|
| 01 · Request | Customer taps in the app, drops a pin, picks duration. | Stripe pre-authorizes. Driver dispatched within seconds. |
| 02 · Curbside | Driver arrives at the customer's curb on foot, e-bike, or scooter. | Customer sees driver in real-time on Apple Maps. ETA pinned. |
| 03 · Identity | Customer types the code the driver shows in-app. | Confirms credentialed driver, not an impostor. |
| 04 · Photos | Driver photographs the car from every angle. | Pre-handoff condition record. Pushed to chat instantly. |
| 05 · Park | Driver parks legally on the street, then walks the keys back to the customer. | Spot photographed + GPS pin pushed. Insured in-transit + parked. Customer holds the keys for the entire parked window. |
| 06 · Return | Customer taps retrieve. Driver returns to the curb, customer hands keys back, driver brings the car back — typically faster than the inbound park. Schedule in advance to shrink it further. | Same OTP exchange in reverse. Final photo set. Stripe charged. |
Past valet apps got killed by a single damage dispute. Continuous photo + OTP trail + insurance = zero unresolved claims to date.
The tech
One backend, four apps on top of it. Same dispatcher, same insurance, every time.
Customer app
Component
iOS native (Swift, Apple Maps, Firebase Auth)
What it does
Request flow, live status, OTP, chat, receipts
Driver app
Component
Same shell, driver-specific routes
What it does
Dispatch queue, OTP issuance, photo capture, payouts dashboard
Dispatcher console
Component
Snyder web dashboard
What it does
Live ops view, manual reassignment, claim handling
Identity
Component
Yardstik background checks ($30/check)
What it does
Every driver vetted before keys change hands
Payments
Component
Stripe (2.9% + $0.30 per trip)
What it does
Pre-auth at request, capture at completion
Comms
Component
Resend (transactional email), Apple Push
What it does
Receipts, status, retrieval reminders
Storage
Component
Firebase + S3-compatible blob
What it does
Encrypted photo + document store
Insurance
Component
CGL + Garagekeepers · James River (A-rated) — ~$2,600/mo
What it does
$1M per occurrence / $2M aggregate, $350K per vehicle — every car, every trip: in-transit, on-street, and through any ticket, tow, or damage event
Hardware
Component
Sidewalk sign — ~$40 each
What it does
Venue-partner sign install. Only physical CapEx.
| Layer | Component | What it does |
|---|---|---|
| Customer app | iOS native (Swift, Apple Maps, Firebase Auth) | Request flow, live status, OTP, chat, receipts |
| Driver app | Same shell, driver-specific routes | Dispatch queue, OTP issuance, photo capture, payouts dashboard |
| Dispatcher console | Snyder web dashboard | Live ops view, manual reassignment, claim handling |
| Identity | Yardstik background checks ($30/check) | Every driver vetted before keys change hands |
| Payments | Stripe (2.9% + $0.30 per trip) | Pre-auth at request, capture at completion |
| Comms | Resend (transactional email), Apple Push | Receipts, status, retrieval reminders |
| Storage | Firebase + S3-compatible blob | Encrypted photo + document store |
| Insurance | CGL + Garagekeepers · James River (A-rated) — ~$2,600/mo | $1M per occurrence / $2M aggregate, $350K per vehicle — every car, every trip: in-transit, on-street, and through any ticket, tow, or damage event |
| Hardware | Sidewalk sign — ~$40 each | Venue-partner sign install. Only physical CapEx. |
The economics
Every park nets cash after the driver and Stripe take their cut.
Per-event math · $10 parking
Customer pays
Amount
$10.00
Stripe (2.9% + $0.30)
Amount
($0.59)
Net revenue
Amount
$9.41
Driver share (70% of net)
Amount
($6.59)
Contribution to Valet Network
Amount
$2.82 (28.2%)
| Line | Amount |
|---|---|
| Customer pays | $10.00 |
| Stripe (2.9% + $0.30) | ($0.59) |
| Net revenue | $9.41 |
| Driver share (70% of net) | ($6.59) |
| Contribution to Valet Network | $2.82 (28.2%) |
Per-event math · $5 retrieval
Customer pays
Amount
$5.00
Stripe
Amount
($0.45)
Net revenue
Amount
$4.55
Driver share (70%)
Amount
($3.18)
Contribution
Amount
$1.37 (27.4%)
| Line | Amount |
|---|---|
| Customer pays | $5.00 |
| Stripe | ($0.45) |
| Net revenue | $4.55 |
| Driver share (70%) | ($3.18) |
| Contribution | $1.37 (27.4%) |
~10 minutes per event. At 3 events/hr (baseline), drivers earn ~$20/hr — well above the gig floor. Theoretical max at 8 events/hr: $52.72/hr.
Opex
The cost of running one more park is almost nothing. Everything else gets cheaper per park as volume grows.
Per-event variable
Amount
Stripe (2.9% + $0.30)
Per-event impact at scale
~$0.50 — already in CM
Per-driver one-time
Amount
Yardstik background check · $30
Per-event impact at scale
$0.01/event over driver lifetime (~3,000 events)
Per-month fixed
Amount
Commercial insurance · CGL + Garagekeepers · ~$2,600/mo
Per-event impact at scale
$0.26/event at 10,000 events/mo
Per-month fixed
Amount
Software + tooling · ~$350/mo
Per-event impact at scale
$0.04/event at 10,000 events/mo
All-in fixed-cost drag at scale
Amount
—
Per-event impact at scale
~$0.30/event
| Cost class | Amount | Per-event impact at scale |
|---|---|---|
| Per-event variable | Stripe (2.9% + $0.30) | ~$0.50 — already in CM |
| Per-driver one-time | Yardstik background check · $30 | $0.01/event over driver lifetime (~3,000 events) |
| Per-month fixed | Commercial insurance · CGL + Garagekeepers · ~$2,600/mo | $0.26/event at 10,000 events/mo |
| Per-month fixed | Software + tooling · ~$350/mo | $0.04/event at 10,000 events/mo |
| All-in fixed-cost drag at scale | — | ~$0.30/event |
Yardstik is the only acquisition cost — and it scales with the driver, not the event, landing at a penny per event after a couple weeks of work.
Moats
- No real estate. We lease zero garage spots — the street is free. Luxe burned $25M avoiding that fact; we start where they ended.
- Density compounds. Each trip in an active neighborhood lowers ETAs and amortizes insurance — the 50th customer on a block makes the 51st cheaper to serve.
- Drivers earn above gig. 70% rev share puts drivers at $20-39/hr — above DoorDash, Uber, Lyft. Lower churn, faster hiring, better service.
- Venue partners are CAC-free demand. Hotels bring repeat parkers without a marketing dollar spent — proven with Blue Moon and Allen.
- Vertical leverage. The same drivers and routes also do car-wash pickups, fuel-ups, and grocery runs — each vertical adds revenue without adding operational complexity.
- Batch-watching. At venue clusters, a stationed driver oversees 8-15 parked cars during idle windows. At $4-6/hr per car, watching 10 stacks $40-60/hr on top of event income — pure margin on unbillable downtime.
- Keys stay with the customer. The driver holds them only to park and to retrieve; the rest of the window they're in the customer's pocket. That's why a full A-rated policy ($1M / $2M limits, garagekeepers $350K/vehicle) underwrites at ~$2,600/mo — multiples cheaper than full-custody valet — and why we've never lost a damage dispute.
They rented garage capacity at $40-65/day and resold it at $15/hr — negative margin from event one, so growth dug the hole deeper. We park on the public street: variable cost per event ≈ $0.Same surface, opposite economics. The 2026 stack helps too — gig-fleet insurance is finally bindable, iOS dispatch + Stripe pre-auth let one engineer run the rails, and NYC's $1.1B enforcement take sets the willingness-to-pay floor.
Traction
Live operations in the Lower East Side. Branded gear, credentialed drivers, insured.
Jan 2026
First paid event — running ~5 months
120
Parkings completed end-to-end
60+ hr
Customer parking-time saved
12
Active credentialed drivers
2
Hotel partners live (Blue Moon · Allen)
0
Unresolved claims to date
Blue Moon Hotel · LES
Curbside · Manhattan
Event · Upper East Side
Word of mouth · April
On the move
Verified valets
The team
Rishi Ganesh — Founder
Operations, partnerships, product. Owner-operator out of NYC.
Aditya Sridhar — Founding Engineer
iOS app, dispatcher console, backend. Why features ship in days.
Right now
Two things in flight right now. Both clear the way for the rest of the year.
In flight
as of May 28, 2026
- Commercial insurance — full annual policyQuoted · binds 6/190%Binder in hand; full A-rated policy quoted and binding 6/1 — James River (A.M. Best A-), CGL + Garagekeepers, $1M / $2M limits, $350K/vehicle. Locks a ~$2,600/mo fixed baseline.
- Yardstik background checks — in-appLive in prod95%Yardstik integration shipped — sub-week driver onboarding, zero manual touch. Unlocks the driver-supply push.
Appendix
We launch straight into the 2026 World Cup. NY/NJ hosts 8 matches in June and July, including the July 19 final.
One hub, many spokes.
Supply is locked through a hub-and-spoke contract with a lead operator who guarantees coverage under an SLA and manages a verified sub-fleet — turning an unpredictable labor problem into one capped, fixed-cost line. Every valet is vetted by Valet Network and registered in the app for insurance; billing, brand, app, and insurance stay fully in-house. Missed jobs are logged as strikes.
The hub-and-spoke model
One lead operator (the hub) dispatches a verified sub-fleet of valets (the spokes).
First 10 valets · 70 / 30Lead-funded 11+ · 70 / 10 / 20
Lead + first 10 valets
Driver
70%
Lead override
—
Company
30%
Company / P+R
$3.70
Valets 11+ (lead-funded)
Driver
70%
Lead override
10%
Company
20%
Company / P+R
$2.46
| Tier | Driver | Lead override | Company | Company / P+R |
|---|---|---|---|---|
| Lead + first 10 valets | 70% | — | 30% | $3.70 |
| Valets 11+ (lead-funded) | 70% | 10% | 20% | $2.46 |
The guarantee is a floor, not a ceiling — and it steps up in three tiers as the network grows. The lead operator's own park-shares and overrides count toward it, so the company tops up only the shortfall. Volume is the trailing-30-day average of completed parks across the whole network.
Launch
Network volume
under 30 parks / day
Guaranteed floor
$1,500 / mo
Growth
Network volume
30–50 parks / day
Guaranteed floor
$2,250 / mo
Full
Network volume
50+ parks / day · 24/7 lock-in
Guaranteed floor
$3,000 / mo
| Tier | Network volume | Guaranteed floor |
|---|---|---|
| Launch | under 30 parks / day | $1,500 / mo |
| Growth | 30–50 parks / day | $2,250 / mo |
| Full | 50+ parks / day · 24/7 lock-in | $3,000 / mo |
We fund onboarding for the first 10 valets ($30 Yardstik each). Beyond 10, the lead operator recruits and funds their own crew and earns a 10% management override on that volume, so the split becomes 70 / 10 / 20.
Standard rates & per-job economics.
Park
Guest
$10.00
Stripe
−$0.59
Net
$9.41
Driver
−$6.59
Company
$2.82
Retrieve
Guest
$5.00
Stripe
−$0.45
Net
$4.55
Driver
−$3.18
Company
$1.36
Park + Retrieve
Guest
$13.00
Stripe
−$0.68
Net
$12.32
Driver
−$8.62
Company
$3.70
ASP Move
Guest
$15.00
Stripe
−$0.74
Net
$14.27
Driver
−$9.99
Company
$4.28
| Service | Guest | Stripe | Net | Driver | Company |
|---|---|---|---|---|---|
| Park | $10.00 | −$0.59 | $9.41 | −$6.59 | $2.82 |
| Retrieve | $5.00 | −$0.45 | $4.55 | −$3.18 | $1.36 |
| Park + Retrieve | $13.00 | −$0.68 | $12.32 | −$8.62 | $3.70 |
| ASP Move | $15.00 | −$0.74 | $14.27 | −$9.99 | $4.28 |
Net = guest price after Stripe (2.9% + $0.30). Drivers take 70% of net; the company keeps 30%. Park + Retrieve is the dominant ticket and nets $3.70 to the company per job — the number every other figure here is built on.
The monthly cost base.
Insurance (live $31K/yr quote, premium-financed)
Monthly
$2,583
Software / tooling
Monthly
$350
Lead operator guarantee (full-phase floor)
Monthly
$3,000
Total fixed monthly cost
Monthly
$5,933
| Fixed cost | Monthly |
|---|---|
| Insurance (live $31K/yr quote, premium-financed) | $2,583 |
| Software / tooling | $350 |
| Lead operator guarantee (full-phase floor) | $3,000 |
| Total fixed monthly cost | $5,933 |
One-time launch is $1,200 (10 × $30 Yardstik + 30 venue signs × $30). Driver payout is already netted in the 70/30 split, so there is no variable labor cost beyond the split — the guarantee is the only labor fixed cost.
Breakeven.
Company contribution per P+R
Value
$3.70
Fixed cost to cover
Value
$5,933 / mo
Breakeven volume
Value
~1,604 parks / mo
Breakeven daily rate
Value
~53 parks / day
Concurrent valets at breakeven
Value
~2–3 at once
Roster to supply it comfortably
Value
10 valets
| Metric | Value |
|---|---|
| Company contribution per P+R | $3.70 |
| Fixed cost to cover | $5,933 / mo |
| Breakeven volume | ~1,604 parks / mo |
| Breakeven daily rate | ~53 parks / day |
| Concurrent valets at breakeven | ~2–3 at once |
| Roster to supply it comfortably | 10 valets |
A P+R is two trips, and one valet handles several per hour — so even at 53 parks/day only ~2–3 valets work concurrently. Reaching 53/day is a venue-density problem: target clinics, salons, and similar high-footfall small venues, then deploy signage.
Financial deep dive.
The full six-month ramp and cash-flow path, the financing ask, and the risks we're actively managing live on a separate, password-protected page.
Open the financial deep dive →Six-month ramp & cash flow · the financing ask · optimization & risks.Figures use confirmed pricing, the $31K/yr insurance quote, a $3,000/mo lead guarantee, and modeled volumes (targets, not observed). Not financial or legal advice.
Valet Network · May 2026
Valet Network, Inc. · rishi@valetnyc.co · valetnyc.co
For the detailed business plan + data room, ping Rishi → rishi@valetnyc.co