SELF STORAGE UNIT BUSINESS PLAN SAMPLE
Are you at a loss for what business to start? Do you have a property with ample space?
If your answers to these questions are in the affirmative, then you should consider starting a self storage unit business. If you are concerned with the ‘how’, we will guide you.
This self storage unit business plan sample has been written for this purpose. Hence we invite you to read through to have an idea of how your plan should be structured.
Here is a sample business plan for starting a self storage unit.
– Executive Summary
Safety Locks ® is a self storage unit where businesses and individuals can keep their valuables. Our company is located in Fort Smith, Arkansas. Most importantly, our services include self storage for different purposes. We pride ourselves in the safety of stored goods and items.
Also, we are at a prime location where space is limited. Therefore siting our business here continues to attract client-growing clientele. Currently, we are seeking ways of expansion. Luckily we own properties in different locations within the city. This will help in our expansion drive.
Our services are in high demand and are varied. These are all self storage related and include climate controlled self storage, non climate controlled self storage, information management service as well as portable container storage.
Additional services include, self storage, military storage, students storage, 24hour storage, vehicle storage and business storage. In addition to these, we also provide the option of customizable storage. However, this attracts higher fees.
At Safety Locks ®, we are specialists in securing valuables. This is in addition to creating a safe space outside people’s homes. Thus, we are embarking on an expansion drive.
Through this, we seek to cover all major areas within the city. These are places where our services are in demand.
Our vision as a company is to meet the pressing needs of businesses and individuals for space. Consequently, we are developing better ways to please our clients. With time, we will develop more self storage options on a need basis.
Previously, we’d started out as a small business with limited capital. Nonetheless, we’ve grown significantly.
However, we still have a long way to go in achieving our goals. This is the reason we seek to expand our operations. Amount needed for this to happen is $800,000.00 this will be used in construction of storage spaces.
Also, equipment will be sourced from this amount. This will be sourced through a bank loan at 3% interest rate.
Our operations over the last 2 years have been quite challenging. On the other hand, our efforts have been rewarded.
Despite our progress, we have done an analysis of our viability. Important areas have been analysed and have been revealing.
Let’s discuss each briefly;
Our strength has been our ability to navigate through difficult times. This has been attributed to our expertise.
Commitment on the part of our staff as well as our cordial relationship with clients has greatly helped.
Despite our successes, we aren’t slowing down. We seek to build on such strengths to ensure better performance.
Our weakness is in our current size. This is the main reason we have decided to expand. While there has been an increasing demand for self storage, our facilities have been overwhelmed.
Consequently, we’ve decided to expand our storage capacity. This will enable us meet growing demands. In addition, it will significantly increase our profitability.
The growing need for self storage units has influenced our expansion plans. This is a unique opportunity as there is currently no shortage in demand. We have noticed that our storage capacity is sometimes exceeded. However, this can be addressed through expansion.
Thus in the nearest future, such problems will be overcome.
At Safety Locks ® we have considered our threats to include natural disasters. These are events that will affect our operations. Also when people lose their homes, there’s a drop in patronage. These events are real threats that will always create significant problems.
The concept of self storage has risen sharply over the years. Consequently, this has resulted in lots of businesses springing up all over Fort Smith and Arkansas. This has given rise to competition. As a result, we have taken the challenge head-on.
Our storage units are among the best. This is because we offer more space as well as competitive pricing. Most importantly, our services are structured towards client satisfaction.
Our operations, before now has been a success. However, we have decided to expand our services due to space constraints and demand.
In view of this, we have done a survey of sales after expansion. This has turned out positive as it has shown a steady climb in sales over a period of three years.
- First Financial Year. $450,000,00
- Second Financial Year. $800,000.00
- Third Financial Year. $1,500,000.00
We are building on existing marketing structures to boost our sales. Our marketing department will be spearheading all such activities through the creation of awareness about our business.
Thus, we’ll be using banners, fliers, billboards as well as adverts on TV and radio to boost our business. We will also leverage on the power of social media. We have a website which will be promoted through content creation on the storage services we provide.
This self storage unit business plan sample has touched on some of the most relevant information you should consider to include in your plan. By using this as a template, you are able to overcome common problems faced by entrepreneurs.