If you are starting a self-storage company, it is likely that you will require investment at some point. There are many things to consider when forming a business plan for a self-storage facility. It can be quite difficult for a self-storage company to acquire positioning within the market. The financial forecasting section of your business plan will likely be requested by investors if your company is seeking investment. This storage business plan describes a proposed self-storage facility to be established in Westbury, New York involving the conversion of an existing building. We recommend using LivePlan as the easiest way to create graphs for your own business plan. After achieving experience and success in their present self-storage facility in Plainview, New York the principals of this proposed project plan to take advantage of the strong demand in the self-storage industry to achieve a major presence in Westbury. The mission of the principals is to serve the Long Island community's local residential and commercial storage and moving needs. To have good connections in the moving industry to direct customers needing temporary storage space. Start your own business plan »Your business plan can look as polished and professional as this sample plan.
I just wrote my first business plan in 24 hours using LivePlan and it's beautiful and complete. Bplans is owned and operated by Palo Alto Software, Inc., as a free resource to help entrepreneurs start and run better businesses. 7 reasons why shipping containers are the SECRET to a successful self storage business plan. If you’re putting together your first self storage business plan or just want to find ways to improve your existing one, then this article is for you. Starting any new business can be risky but many self-storage site entrepreneurs are discovering that shipping containers can limit the necessary start-up expenditure, as well as adding value to their businesses. Coming up are 7 reasons why shipping containers should be part of your self storage business plan. One thing’s for sure, people are often pleasantly surprised by the low cost to purchase shipping containers – especially newly built boxes. Aside from the comparatively small investment needed there’s also longer term financial advantages too. Containers are made from Corten steel and designed to endure harsh conditions at sea for many years, so they’re built to last. When you consider the long life span and potential re-sale value, versus the initial low cost of buying containers it quickly becomes clear why they’re often the preferred choice for self-storage business owners who want to optimise their budget, and profitability.
Getting the most out of your land is of course a top priority for you as a self-store business owner. Fortunately shipping containers are engineered to be stacked several units high so taking advantage of this feature allows you to get more from your storage site. By adding stairs and walkways your customers can easily get access to their containers whilst you enjoy the extra rental income. When you start writing your self-storage business plan it can be hard to estimate the amount of customer demand.
With containers you can just add storage unit space as and when you need it, keeping your capital expenditure down. Using shipping containers as store units mean you can easily scale the amount of storage space available, exactly when you need to. You know what you customers want when it comes to self-storage, such as adjustable shelving for example. With a shipping container you can have it modified to meet this need and many others including partition walls for smaller store units, personnel door access and lighting. One of the main priorities for any customer choosing a self-store site is likely to be security.
Containers have a reputation as being secure for storage because of their sturdy construction and lockbox feature. As well as being made from high strength corten steel our new build containers come ready fitted with a lockbox, which helps prevent anyone from tampering with the padlock. As you’ve already seen, the long life span of containers makes them very attractive to buyers especially when you consider the relatively small outlay. As well as being built from high strength corten steel containers are also coated with marine grade paint which helps fight off corrosion. Of course using containers for site storage rather than shipping means their lifespan is likely to be even longer too.


If you want maximum flexibility on your land then the ease at which shipping containers can be moved is a real advantage.
It might be as simple as you just wanting to move containers from one part of your site to another, but you also have the option to easily relocate the boxes off site should the need arise. Could including shipping containers in your self-storage business plan help you be more PROFITABLE?
As the sector grows it will be more and more important for entrepreneurs working in the space to find ways of staying ahead of the competition and remain profitable. Shipping containers give you flexibility and help keep your costs down, but they also give you what your customers want in terms of secure storage. As we’ve seen, these 7 advantages of using shipping containers as store units make them ideal for any self-storage business plan. Container HireFlexible, great value short and long term container hire of all sizes including 10ft, 20ft, 40ft and 45ft containers. The sales and marketing strategy is fairly simple by virtue of the fact that self-storage facilities are in short supply. Although the current local demand exceeds the supply and Westbury Storage will have no problems fully utilizing its capacity, the market situation may change in the future.
As is the case with the owners' present self-storage facility in Plainview, many sales are directed through Stote Movers, who are in constant contact with people on the move and, therefore are most likely to require temporary storage. Due to the fact that demand has been outstripping supply in this market, Westbury Storage may well be able to rent out all of its new units within the first year of operation. A commercial loan needs to be negotiated to finance approximately 70% of the total project costs. We recommend using LivePlan as the easiest way to create automatic financials for your own business plan. Advertising and promotion will rely heavily ads in the Yellow Pages, as well as initial local newspaper ads at the time of opening. Building maintenance is normally a very substantial item on a building of this size built in 1910. Westbury Municipal Light's bills totalled $13,714 last year when the present tenant was operating production with full staffing.
Insurance:Property and Liability Insurance amounted to $15,000 annually for the present tenant.
The experts at Pro Business Plans have helped many self-storage companies to start and grow with a business plan.
The clientele of a self-storage business can vary dramatically given the location, pricing, and quality of the facilities. Overall, investors will want to understand how your company compares to alternative self-storage options in the area in terms of price, location, and services. Some have attempted to acquire positioning by offering additional services, whereas others recognize that it is largely a combination of price and location.
Total project costs are estimated at $1,054,487 including purchase price, conversion costs, and pre-opening expenses (see section on Start-up Summary).
With 500 complete sample plans, easy financials, and access anywhere, LivePlan turns your great idea into a great plan for success. This means that if and when you want to sell any of your containers you’re likely to get a fair price.
Our nationwide depots mean  fast delivery wherever you're located.Specialist ContainersNeed a non standard shipping container? Westbury Storage will simply have to inform the public of its existence by advertising in local newspapers, and by placing Yellow Pages ads. The company will fully utilize its management's seasoned experience in the storage business in order to establish a strong foothold in the local community. By virtue of its contact with people changing addresses, Stote Movers is in a position to direct a lot of storage business to Westbury Storage. However, the roof has been completely redone fairly recently and the basic structure of the building is very robust.
As a self-storage facility electricity is needed only to power the rows of low-draw tube lighting. Since as a self-storage facility the level of heating does not need to be nearly as high, we estimate an annual bill of half this amount, or $7,000. Industry profile ratios based on the Standard Industrial Classification (SIC) code 4225, General Warehousing and Storage, are shown for comparison. This article provides information about what is included in a self-storage business plan and how it is structured.
A self-storage business located in an area where rent is very high, such as a dense urban area, will be substantially different than one in a rural community targeting the working class.


For instance, your self-storage business may offer free pickup and have additional security features in place in order to account for being in a less attractive location than competing locations. However, it also helps to be visible during the consumer search process for a self-storage company. The key drivers as assumptions for the plan will include the overall pricing, capacity level, and utilization level. Based on current and projected strong demand for self-storage units, rental revenue is projected to grow rapidly as units fill up from the first year's target of $320,000 to $684,000 by year three.
Goals have been set to rent 50% of the proposed 300 unit spaces within the first six months of Year 1. We'd like to help you turn those ideas into reality and are happy to share our wealth of conversion experience with you.
All types of specialist containers for sale including palletwides, flatracks, tunnel units, reefers, open top, full side access boxes and chemical storage units. This will be reached by providing excellent service and offering extra service features like the heated and well-lit rental units, which will supplement the great location of the storage facility. Even though there is an excess of demand over supply, an unfriendly manager or clumsiness over the telephone will cause needless lost sales. In addition to these sources of income, the sale of certain related items such as cardboard boxes, tape, packing materials, storage containers, plastic mattress covers, etc. First drawdown upon agreement of the seller and buyer concerning the terms of sale of the building. The ads in the local papers (Springfield News and community newspapers) are estimated to cost $300 monthly for the first year only. The start-up costs reflect adequate amounts to ready the building for opening in good order.
There are several differentiating points in each of these models that can each be equally profitable, but their feasibility and overall interest to investors will depend on how they compare to regional competitors relative to the market demand for a given area.
The business model should be able to build a case that communicates why your company will outperform others in the market. Other considerations to factor into the model include the marketing budget, cost of capital, and expenses related to sustaining the facility.
An additional 25% will be rented in the second half of Year 1, with the remainder to be filled in Year 2. Last drawdown around the end of the year when all conversion to self-storage units should be completed. They will be reduced in the second year to half this amount and eliminated in the third year. Also, it should be noted that expenditures for building maintenance would need to be larger if the building were being used for offices rather than storage. In some cases, the company may actually own the storage facility, whereas it may rent it from a larger commercial space in other circumstances. However, for projection purposes, it is assumed that income from these sources will wash out any credit losses.
First repayment of principle is planned in April of 1999 with monthly installments of interest and principle to continue until the loan is fully repaid in 2013. We assume an annual amount for maintenance equal to 5% of the purchase price which works out to $27,500. An increasingly large number of self-storage companies are also taking to social media in order to target prospective customers within the radius of their service area. In either case, there will be expenses associated with growing and managing the facility that should be accounted for. While the marketing section is not extremely important to all investors, it will be critical when implementing your business plan to acquire new customers quickly and efficiently. The second half of 1999 will see a further 25% of the total space rented, leaving the final 25% to be reached in the year 2000.
Within these time spans, the growth, for projection purposes, will be assumed to be straight line, i.e.
Doubled, this is exactly the space available in the Westbury building after deducting the office area.



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