Problem

Do you have a car? Has it happened to you that you have an event in downtown Toronto, and you will be driving? Where to park a car? Is there free street parking available in that area? How do you find a spot and not worry that you’ll get ticketed. How do you pay for parking?

To sum up: Finding parking in a busy city is always a hassle.

Solution

A mobile app with the following features:
Based on your current location on a map (or a future one if you plan on driving later), find a free/paid parking spot, park a car and stay as long as you need without worrying that you’ll get ticketed
The service will take care of your street parking and will pay for it so you don’t have to worry about finding a terminal
If you receive a ticket while using the app, the service will reimburse you for it (questionable but maybe a good selling point?)
If you must move your car (e.g. due to max time limit), the service will notify you. First 15 minutes before, then 5 minutes before, then when the time is up.

The total number of road motor vehicles registered in Canada increased to 26.2 million in 2021, up 1.9% over 2020. (30M in 2022, Wikipedia. In US: 300M)
Number of vehicles per person: 0.79
Canada’s largest cities: Toronto, Montreal, Calgary, Ottawa, Edmonton, Winnipeg, Missisauga, Vancouver. Overall population in these cities: ~9.7M (25% of total population)
Overall projected population in Canada by 2030: 44M
TAM Canada = 9.7 * ~~0.79~~ * $10/year (subscription fee?) = 76M.
- Note: 0.79 isn’t a fully correct factor here. The number should be lower in big cities because people don’t need cars to commute. Although many people commute from outside those cities to downtown, so the estimate is rough but somewhat relatable.
TAM US+Canada = ~850M (US market is 10x of Canada’s, according to the first item in the list)
SAM = ? (how many people can I reach with my sales channels)
Target Market = ? (who will be the most likely buyers)