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Self-Storage Business Plan

3 March 2023 Businnes Plan


Self-Storage Business Plan


This storage business plan outlines a proposed self-storage facility that will be built in Westbury (New York) and involves the conversion of an existing structure. The total project costs include purchase price, conversion cost, and pre-opening expenses. See the Start-up Summary section. The projected growth in rental revenue from self-storage units is based on strong demand.

Objectives

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. Stote Moving is the owner, which will allow for quick occupancy. The goal is to rent half of the 300 units within the first six months. Additional 25% of the 300 units will be rented during the second half year, with the remaining spaces to be occupied in Year 2.

Mission

The principals’ mission is to provide local storage and moving services for Long Island residents and businesses.

Keys to Success

Success in self-storage is possible by following these key steps:

  1. To offer dry, secure, and well-maintained facilities that are easy to access.

  2. To be able to connect with people in the moving industry and direct them to customers who need temporary storage.

  3. To be able change as market and storage requirements change.


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