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Jennifer Raney Herriage

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Self-Storage Business Plan

March 3, 2023 By JamesCall Leave a Comment


Self-Storage Business Plan


This storage business plan details a self-storage facility proposed to be set up in Westbury. The conversion of an old building is required. Total project costs are $1,054,487. This includes conversion costs and purchase price. (See section on Start up Summary). Based on current and projected strong demand for self-storage units, rental revenue is projected to grow rapidly as units fill up from the first year’s target of $320,000 to $684,000 by year three.

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 has an ownership connection that will enable full occupancy to be achieved quickly. In the first six month of Year 1, the goal was to rent 50% of 300 spaces. A further 25% of units will be rented in Year 1. The remainder will be occupied by 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 to success in self-storage:

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

  2. To make connections within the moving industry that will help you direct customers in need of temporary storage.

  3. To be able change as market and storage requirements change.


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Filed Under: Businnes Plan Tagged With: business, Plan, self-storage

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“I have both bought and sold properties from Jennifer and I can highly recommend her without any reservation.  She is uniquely qualified due to her vast experience in not only the marketing of homes but also all aspects of ownership.  The result is a professional that adds value to the client beyond the associated cost of representation.” 
- Dean Lontos

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About Jennifer

Unlike many who get into the field, real estate has been the only career for Jennifer Raney Herriage, who has excelled in serving clients for over 20 years.  Having grown up in a real estate family, Jennifer was first inspired by her mother, a broker … Read more...

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