A Sample Self Storage Business Plan Template

 

business plan for storage units

Here below is a sample business plan template of a self-storage business plan; A Sample Self Storage Unit Business Plan Template. Business Overview; Self – storage units are mini storage spaces created for people to store their belongings for a short period of . More Resources on Building Storage Units. If starting a self storage business seems like the right choice for you, there is plenty of information available to help you learn more about how to plan your business. Some choices include: Sample Self Storage Business Plan - A sample business plan for a Author: Rachel Blumenfeld. Beyond the fact that starting a self storage unit business is expensive, it is also a very risky venture, you should be able to understudy the risk involved in running this type of business, and develop strategies that can help you minimize or avoid the risks.


How to Start a Self Storage Business: 11 Steps (with Pictures)


Owning a storage unit can be a great business, but it's important to know all the related costs and risks so you can develop a realistic business plan before you jump in. Assess all the costs so you can plan your business appropriately and maximize your chance of success. The popularity of the self storage business is evident in just about every town. With over 50, self storage establishments in the United States, the number is still growing. People and businesses looking for a place to store their belongings can find the exact amount of space they need at an affordable price.

Even though the industry has grown into a multi-billion dollar one, it's constantly expanding to meet demand with new companies starting every day. However, there may be costs associated with starting a profitable self storage business that you aren't expecting.

One of the biggest costs when starting your business is going to be the cost of land. However, a major factor in what you will pay depends on the area in which you build your storage unit. However, don't worry; the rate you charge customers will also depend on rental prices in the area. Mako Steel estimates most storage units charge the same amount of rent per square foot as the area's average apartment does.

Furthermore, you can offset your land costs by building a multi-level storage unit. Before you can even start construction, there will be land development costs to ready the site for building.

The cost of construction will also depend on the unit's amenities, business plan for storage units, such as if the unit is climate controlled.

Climate controlled units keep temperatures from business plan for storage units below 55 degrees or rising to more than 80 degrees, and while they cost more to build and operate, they can attract more customers.

Many people need climate controlled units to preserve items mold or mildew can destroy. If you're a new business, you'll need to attract customers, whether you do so through billboards, mailers, Internet ads, business plan for storage units, or another method.

Whichever way you choose to market your business, you should plan to spend about 6 to 8 percent of your gross annual income on marketing. If you're not sure what your annual revenue will be, you can estimate it using the following statistics from the Self Storage Association:.

If you plan to open a franchise of an established self storage company, you may avoid some of the marketing costs since the company will already have a reputation in the community.

However, you will then face franchise fees and perhaps royalties. Franchise fees will vary from company to company, as will business plan for storage units fees, business plan for storage units it is best to contact the company directly to determine exactly what is required to open one of their businesses in your area.

Operating costs will also increase if the units are climate-controlled. As far as real estate investments go, self storage units are one of the safest bets. Mako Steel suggests the most successful storage units have between 83 and 93 percent occupancy rates, but states storage businesses can succeed with occupancy rates as low as 70 percent.

It is worth noting, however, it usually takes somewhere between 8 and 24 months for a self storage unit to operate at its full potential, business plan for storage units, so don't be discouraged if the first few months are slower than business plan for storage units would like.

In today's self storage market, be sure to do your research before building. As part of your preliminary work, check out how the competition is faring. To gain accurate information, it is best to hire a professional consultant to evaluate the area's untapped potential and the need for self storage in the area where you plan to build, business plan for storage units.

Find out:. You can also use this handy calculator to determine whether your storage business will be profitable, and to help you figure out exactly how much you can afford to spend on land and construction, business plan for storage units.

The first step in planning your business is to learn everything you can about the storage industry. Research the following:. When making your plans to start a storage unit business, seek to build facilities that meet and exceed industry standards.

If you offer the best in quality, people will seek you out because they want their stored items safe, dry, and accessible. If starting a self storage business seems like the right choice for you, there is plenty of information business plan for storage units to help you learn more about how to plan your business.

Some choices include:. With the self storage industry growing rapidly in America, now is a great time to build your own storage facility. No matter what kind of storage business you want or where you want it, the information above can help you prepare so you know exactly what costs you'll encounter along the way. All Rights Reserved.

 

Cost to Build a Storage Unit Business | LoveToKnow

 

business plan for storage units

 

More Resources on Building Storage Units. If starting a self storage business seems like the right choice for you, there is plenty of information available to help you learn more about how to plan your business. Some choices include: Sample Self Storage Business Plan - A sample business plan for a Author: Rachel Blumenfeld. Beyond the fact that starting a self storage unit business is expensive, it is also a very risky venture, you should be able to understudy the risk involved in running this type of business, and develop strategies that can help you minimize or avoid the risks. Here below is a sample business plan template of a self-storage business plan; A Sample Self Storage Unit Business Plan Template. Business Overview; Self – storage units are mini storage spaces created for people to store their belongings for a short period of .