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First Choice Mini Storage in Lakeland, FL provides a range of clean and secure self storage and RV storage options to residential and business customers throughout the Orange and Polk county areas, including Polk City.
In this article I want to walk you through the process of creating financial projections for a startup self storage facility.
Out of your potential market, only a certain percentage would even consider using self storage.
Your marketing efforts should lead to a successful conversion of some of your target market into customers. This is not part of your revenue projections, but it is really important to know the cost to acquire 1 customer. One of the most important pieces to your revenue projection puzzle is how long does a customer stay a paying customer?
Then add your recurring customers to your new customers and you will get your total current customers. Finally, estimate how much space each customer will rent on average and the rate they will pay per square foot to come up with the average rent per month per customer. You will likely have to pay 1 full time person to manage the facility, sign up new customers, collect payments, etc. Unless you can pay cash for the facility, you are likely going to have a mortgage on the property. You will also need a good insurance policy to cover your facility and your tenants valuables. You will want to have good lighting at the facility at night which will probably be your primary utility cost. Now that you have your revenue and expenses projected, you can estimate what occupancy rate you must have in order to breakeven. When managed well, industry experts estimate that you should be able to generate a 30% Return on Investment when you have a 90% occupancy rate at your storage facility.
Now that you have done all of the leg work, if you need to complete a 3 year financial projection for a potential investor or lender, you can use our ProjectionHub web app to complete a 3 year Income Statement, Cash Flow Statement, and Balance Sheet projection. You have convenient access to your unit and personal property at any time – day or night. Climate-controlled heated and cooled units are available for your specific item storage needs. With your needs in mind, we have parking and storage for your automobiles, recreational vehicles, and boat storage.
24-hour monitoring, computerized and secure gate access, and units equipped with alarm systems, gives your property unequaled protection. We are your one-stop storage solution center, providing everything you’ll need for the secure storage of your possessions. More convenience – you choose and supply your own style and quality lock and key, allowing greater flexibility and control over who has access. Video surveillance technology plays a large part in our security system and policy, allowing us the ability to constantly monitor the premises. Discover Gandi's Simple Hosting, our cloud-based PaaS service starting at a‚¬4 per month (50% off the first year for domain name customers). Climate controlled storage is heated or cooled to protect your belongings from the extreme temperatures. The Guardian Storage in Washington, PA is located on Jefferson Ave right next to Four Star Pizza and approx.
This Unit Holds: Personal items, clothes, boxes, skis, children’s toys, small furniture items, business records and sales rep materials. This Unit Holds: Small amounts of furniture, sofas, chairs, chest of drawers, boxspring and mattress, business supplies and records. This Unit Holds: One-bedroom apartment with major appliances, other furniture and supplies.
This Unit Holds: A two-bedroom apartment or house, including appliances, boxes and miscellaneous items and commercial storage inventory.
Our 24-hour security monitors and protects every unit, including the use of a reliable security alarm system. Typically the temperature ranges from approximately 55-80 degrees using central air conditioning and heat. I went to Guardian Storage because it was close and after searching online it seemed to have competitive prices. We have storage units in a wide range of sizes, with both indoor, climate-controlled storage units, as well as convenient drive-up units. Upon arrival I was very stressed and prepared for the worst but was pleasantly surprised when greeted by Associate Manager Jerry Osborne.
He was thorough and friendly, talked to us about what was going on and what we needed as apposed to just trying to sell anything and everything he could.
I felt no pressure, in fact, when he showed us the unit he stressed that we may not need such a large one and could save some money if we went smaller.
If you have any specialized storage needs (like records or inventory storage), please let us know and we will do everything we can to accommodate your needs. I can honestly say in the world of sales I've never run into such caring, consideration, and honesty.
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