Start by searching online and through paper listings for self-storage businesses operating in your locality. Look at the prices they charge and the kind of capacity and service they can offer. An area with a lot of storage business suggests high demand, but also may be already well-catered for. According to one analysis, sites that are three or four years old, and are only 70 per cent occupied indicate a soft market that you should avoid. [2] X Research source Trade journals and specialist websites are generally excellent sources of trade specific information. [3] X Trustworthy Source U. S. Small Business Administration U. S. government agency focused on supporting small businesses Go to source [4] X Research source [5] X Research source
Your start-up costs might include the initial rental costs for the storage facility or land you will be using, the costs of hosting a website, and the promotional material you will use to launch your business. This information will feed into your business plan.
An executive summary detailing your objectives and the keys to success. A company summary outlining the nature, size, location and ownership structure of your business. A section on the services that your business will deliver. A market analysis summary. A clear outline of your marketing and implementation strategy for the business. A summary of the business’s management structure and approach. A detailed financial plan with costings and projections to cover the first few years of business. [8] X Research source
Market penetration: this means how you will enter the market and create a distinct space for your business. Communications strategy: this section deals with how you will reach your customers directly. This could include promotions, advertising, and printed materials like flyers. Growth strategy: this will cover your strategy for growing and expanding your business over time. This might include elements on securing more storage units, or employing staff. [9] X Trustworthy Source U. S. Small Business Administration U. S. government agency focused on supporting small businesses Go to source
Your funding requirement and how much money you need. Any future funding requirements you may have for the next five years. How you will use the funding, giving precise information on capital expenses or other costs you intend to use it for. Any strategic financial plans for future, such as selling your business or paying off debt. [10] X Trustworthy Source U. S. Small Business Administration U. S. government agency focused on supporting small businesses Go to source
Your funding requirement and how much money you need. Any future funding requirements you may have for the next five years. How you will use the funding, giving precise information on capital expenses or other costs you intend to use it for. Any strategic financial plans for future, such as selling your business or paying off debt. [10] X Trustworthy Source U. S. Small Business Administration U. S. government agency focused on supporting small businesses Go to source
You can build your own storage units on land you have purchased and have the rights to use. There are companies that construct and deliver storage units in a variety of shapes and sizes that you can buy direct.
You should hire an attorney who specialises in regulations and taxation for small businesses to ensure that everything is taken care of properly. Ask your attorney about the various grants and financial aid schemes that exist for small businesses to determine if you are eligible for financial support from the government.
Don’t limit your online presence to a smart website. Self-storage directories get a lot of traffic. When people search through these databases, you want your business to appear in the results. Using self-storage directories is a good way to make your company visible without getting to the top of ordinary search engine results. [14] X Research source
When you think about how to reach out to customers, you should also be thinking about how you respond to inquiries. Ensure whoever answers the phone has an excellent phone manner and is fully up-to-speed with all the pertinent information about the storage units. [15] X Research source If a potential customer calls up, and the person who answers the phone cannot give an accurate price or indication of availability, you will not get many customers.
You will need to get all the relevant insurance and register new employees with your State. [16] X Trustworthy Source U. S. Small Business Administration U. S. government agency focused on supporting small businesses Go to source Talk to your attorney to ensure that all of the paperwork is completed correctly, and all of the taxes and regulations are met.
You will need to get all the relevant insurance and register new employees with your State. [16] X Trustworthy Source U. S. Small Business Administration U. S. government agency focused on supporting small businesses Go to source Talk to your attorney to ensure that all of the paperwork is completed correctly, and all of the taxes and regulations are met.
