Self Storage Facility Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Self Storage Facility Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Self Storage Facility business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready
- Complete Industry Research for the Industry
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Marketing Plan (24 to 28 pages)
- 425+ Page Funding Directory
- PowerPoint Presentation
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- How to Start a Business Guide
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PowerPoint Format
- Meets SBA Requirements
Within the United States, people accumulate quite a bit of stuff. As such, self storage facilities have and are the market over the past five decades to provide individuals with a way that they can securely store their belongings. Additionally, people frequently travel and move within the United States – and as such – people need temporary and permanent storage in order to safely store their belongings while they are traveling and moving. This trend is not expected to wane at any time in the near future. Of utmost importance and as it should be noted, banks and lenders love to place money with self storage facilities given that the vast majority of capital lent is used for tangible real estate purchases. Additionally, many of the much of the revenues generated by a self storage facility are done so on a recurring basis that is charged to credit card. Unlike other forms of real estate investing, a self storage facility has a much lower incidence of bad debt. As such, these businesses are generally very economically viable in most markets and in most economic climates. The operating costs associated with running a self storage facility are comparatively low depending on the size of the facility.
A self storage facility business plan should contain a three-year profit and loss statement, cash flow analysis, balance sheet, business ratios page, and breakeven analysis. As almost all entrepreneurs that enter this industry use debt financing to develop or acquire a self storage facility, it is imperative that a business plan is developed to showcase to a bank or lender. As discussed above, these businesses generate very high gross margins that are almost always able to satisfy the underlying debt service acquired associated with the loan. As it relates to operating expenses, the biggest expenses usually having one person on staff at all times to monitor the facility. Within the business plan, a full analysis pertaining to the local market, population size, population density, and, competitors should also be examined. Given the strong demand for self storage facilities, competitive issues are not too big of a threat to a new self storage facility business.
Beyond the business plan, a self storage facility marketing plan should also be developed. This marketing plan should focus significantly on developing relationships with real estate agents so that people that are either moving to or from the area can be referred to the facility for storage of their goods and belongings. Additionally, many businesses within the market also require storage space – and as such – is important that an entrepreneur developed strong relationships with local chambers of commerce and small business associations. Beyond these traditional advertising methods, and online presence should also be maintained so that individuals can quickly find the self storage facility. On a website, it should be noted the pricing, hours of operation, space availability, storage space sizes, and other relevant information to how a person can store belongings at the facility.
Beyond their business plan marketing plan, most entrepreneurs that are looking to develop or acquire a self storage facility will also conduct a SWOT analysis. This analysis focuses on the strengths, weaknesses, opportunities, and threats. For strengths, and as stated above, these businesses are usually able to remain profitable at all times given the high gross margins generated from rental of space. For weaknesses, although competition exists in almost every market the demand currently outpaces the supply for secure self storage spaces. As it relates to opportunities, these businesses will often look to develop a number of facilities that can be managed centrally. Self storage facility companies benefit tremendously from economies of scale. Pertaining to threats, there are no real major threats that would impact the way that these companies conduct business.
An entrepreneur looking to enter this industry can expect that a new self storage facility will cost anywhere from $300,000 to $2 million to develop. Although this is an expensive business to develop, banks are always willing to provide the necessary financing to establish these facilities given the fact that the primary asset is real estate.