Are you looking for a self-storage business plan that can help you get funding for a new storage concept or allow you to take over an existing storage facility that isn't performing well? If you're shooting for the latter, you will need to show why you can do better with the existing facility. What shortcomings is it exhibiting that you can correct by better management, marketing, or service delivery? Give a past performance table (profit and loss and balance sheets, up to 3 years) but emphasize why it will do better in your management portfolio. If you are starting up a new location, your business plan should show all of the following:
Who will run the company and what qualifies them to be successful?
What is the immediate market like when it comes to storage services?
How many competing businesses are there within 5-10 miles and how well do they do?
What marketing methods will you use to promote the facility?
What capital improvement or repair costs might you face?
What is the total amount of funding you are looking for?
In addition to the formal funding request, you should be prepared to show how and when you can repay the loan or what share of the business you are willing to relinquish to outside investors. You should also have an integrated model driven by financial assumptions that shows your revenue estimates and expenses resulting in tables like balance sheet, cash flow, break-even, profit and loss, and a sensitivity analysis showing the effect of a variance in your sales. Need help with this document? MasterPlans has written many business plans in this industry and can deliver you a funding-ready business plan in as little as two weeks. Call 877-453-2011.
