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 affirmative, you should consider starting a self-storage unit business. We will guide you if you are concerned with the ‘how.’

This self-storage unit business plan sample has been written for this purpose. Hence, we invite you to read through to understand 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 valuables. Our company is located in Fort Smith, Arkansas. Most importantly, our services include self-storage for different purposes. We pride ourselves on the safety of stored goods and items.

Also, we are at a prime location where space is limited. Therefore, 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

Our services are in high demand and are varied. These are all self-storage-related, including climate-controlled self-storage, information management services, and portable container storage.

Additional services include self-storage, military storage, student storage, 24-hour storage, vehicle storage, and business storage. In addition to these, we also provide the option of customizable storage. However, this attracts higher fees.

  • Mission Statement

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.

  • Vision Statement

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 create more self-storage options on a need basis.

  • Financing

Previously, we’d started 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. The amount needed for this is $800,000.00, which will be used to construct storage spaces.

Also, equipment will be sourced from this amount. This will be sourced through a bank loan at a 3% interest rate.

  • SWOT Analysis

Our operations over the last two years have been quite challenging. On the other hand, our efforts have been rewarded.

Despite our progress, we have analyzed our viability. Important areas have been studied and have been revealed.

Let’s discuss each briefly;

i. Strength

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 and our cordial relationship with clients has dramatically helped.

Despite our successes, we aren’t slowing down. We seek to build on such strengths to ensure better performance.

ii. Weaknesses

Our weakness is in our current size. This is the main reason we have decided to expand. While increasing demand for self-storage has grown, our facilities have been overwhelmed.

Consequently, we’ve decided to expand our storage capacity. This will enable us to meet growing demands. In addition, it will significantly increase our profitability.

 iii. Opportunities

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, shortly, such problems will be overcome.

iv. Threats

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.

  • Competitive Advantage

The concept of self-storage has risen sharply over the years. Consequently, this has resulted in many 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 toward client satisfaction.

  • Sales Projection

Our operations, before now, have been a success. However, we have decided to expand our services due to space constraints and demand.

Given this, we have done a survey of sales after expansion. This has turned out positive as it has steadily climbed sales over three years.

  1. First Financial Year.   $450,000,00
  2. Second Financial Year.   $800,000.00
  3. Third Financial Year.   $1,500,000.00
  • Marketing Strategies

We are building on existing marketing structures to boost our sales. Our marketing department will spearhead all such activities by creating awareness about our business.

Thus, we’ll be using banners, fliers, billboards, and adverts on TV and radio to boost our business. We will also leverage the power of social media. Our website 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 including in your plan. Using this as a template, you can overcome common problems entrepreneurs face.

Leave a Reply

Your email address will not be published. Required fields are marked *