This storage business plan describes a proposed self-storage facility to be established in Westbury, New York involving the conversion of an existing building. The project total costs include conversion costs, purchase price and pre-opening costs (see Section on Start-up Summary). 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’s ownership will help to quickly gain full occupancy. In the first six month of Year 1, the goal was to rent 50% of 300 spaces. In Year 2, 25% more units will also be rented. The remaining units will be filled in Year 2.
Mission
The principals have one mission: to meet the Long Island community’s residential and commercial storage and moving requirements.
Keys to Success
These are the keys for success in self-storage.
- To provide clean, dry, secure and convenient access to facilities.
- To build strong relationships with the moving industry in order to provide temporary storage space for customers.
- To be able change as market and storage requirements change.
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