It can be an attractive job to someone who wants to earn a cash income
from tips and does not intend to declare that income to the IRS. It
can also be an attractive job because the valet parker is usually an
independent contractor, and that means no one can set that person's
hours or work schedule.
Most places that offer valet parking do not employ the valet parkers.
They either give or sell that function as a concession to someone
else, or treat the valet parkers as independent contractors. This
means the business does not have to get involved with payroll taxes,
workman's comp, withholding, and the other burdens that an employer
has when hiring employees. They also avoid insurance and liability
issues because the business is not responsible (absent gross
negligence*) for damage to the automobiles.
There are companies in the US that offer their services to businesses
(restaurants, in particular) and pay a flat fee or an estimated
percentage of the income to the business for the concession. These
companies then employ the parking valets as independent contractors or
simply run the valet parking business without any record keeping. The
concessionaire, if he's legit, will carry insurance.
A valet parking job is a different job than a parking attendant in a
parking lot or a parking garage. Parking attendants are usually
employees and paid an hourly wage, but they may supplement their
hourly wage with tips.
I happen to be acquainted with a person who was the concessionaire for
a busy restaurant in the Orlando area. He was the son of the owner of
the restaurant, but when he was attending Rollins College (here in
town) he had the valet parking concession.
When he graduated from Rollins, his father wanted him to become the
manager of the restaurant. He declined the job because his income was
higher doing the valet parking thing than it would have been as the
restaurant manager. He later sold that valet parking concession to
one of his valet parkers for what he said was a "five figure amount".
And, that was several years ago.
To anything I've said above...there may be exceptions. There always
are.
For those not familiar with "independent contractor":
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Independent-Contractor-Defined
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Independent-Contractor-Self-Employed-or-Employee
*The business may be responsible for theft from a vehicle because the
business has not provided a lighted parking area and the valet parkers
had insufficient ability to park cars in a secure location. This
would fall under gross negligence on the part of the business.