Self-Storage Business Plan

This storage business plan describes the proposed establishment of a self-storage facility in Westbury, New York. It involves the conversion and use of an existing building. Total project costs are $1,054,487. This includes conversion costs and purchase price. (See section on Start up Summary). The projected growth in rental revenue from self-storage units is based on strong demand.

Goals

After their success in Plainview’s self-storage unit, the principals plan to leverage the demand in Westbury for self storage. Stote Moving’s ownership will help to quickly gain full occupancy. Goals have been set to rent 50% of the proposed 300 unit spaces within the first six months of Year 1. A further 25% of units will be rented in Year 1. The remainder will be occupied by Year 2.

Mission

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

Keys to Success

These are the keys for success in self-storage.

1. To provide safe, clean, and accessible facilities.

2. To establish good relationships in the moving business to help customers looking for temporary storage.

3. To be able adapt to market and storage needs changes.