Feasibility Studies for Self-Storage, Boat and RV Storage, Storage Condo, Flex Warehouse and Contractor Yards
It is our greatest pleasure to help you select the perfect site for your self-storage, boat and RV storage, storage condo, contractor yard or flex warehouse facility. We give you clear recommendations unique to your market - supported by hard data - so you can develop your facility with confidence.
Black-belt level self-storage, boat and RV storage, storage condo, contractor yard and flex warehouse feasibility studies are all our Sensei does. This precise focus ensures that you make the smartest, most profitable and sustainable decision when selecting your next storage project.
Free preliminary review - There is no charge to objectively review your proposed project and determine if the market’s demographics, competition and demand support its development. If so, then you should proceed with a feasibility study that matches your market and budget, whether it focuses on self-storage, boat and RV storage, storage condos, flex warehouse spaces, or a combination of these storage types. If not, don’t worry, Sensei will break the news gently.
Your first preliminary report is free and successive reports are $100.
Feasibility Study Options - Depending on what stage of the self-storage, boat and RV storage, storage condo, contractor yard and/or flex warehouse investing and development process you are in, you need either an:
Initial feasibility study for self-storage, boat and RV storage, storage condos, contractor yards or flex warehouse - After your preliminary research is completed, this study takes a hard look at the competition, rents, supply and demand to determine the market’s ability to support the proposed facility. Specifically, Sensei researches:
Traffic patterns and customer behavior
Market demographics and psychographics
Pricing and rental rates
Planned competitive development
Using this data, Sensei makes development recommendations and initial income and return on investment projections. Although this data is not sufficient to present to a lender or investor, it allows you to determine if the location is worthy of pursuing and investing in a full self-storage feasibility study. If so, the cost of the initial study is applied to the full study.
Fee: $3,600 self-storage, boat and RV, flex warehouse, contractor yard or storage condo specific initial study.
If you plan on developing a facility with more than one primary business focus, there is an additional $1,500 fee. (Self-storage with limited boat and RV storage or vice versa is one business focus, as are flex warehouses with contractor yards.)
Full feasibility study for self-storage, boat and RV storage, storage condos, contractor yards or flex warehouse - This study gives you the information needed by your engineer/site plan designer, your lender and investors. It includes all of the research and analysis of the initial feasibility study, plus a deep dive into the competitions’ Strengths, Weaknesses, Opportunities and Threats (aka a SWOT analysis), thus providing a clear understanding of the amenities and marketing your facility needs to be successful.
Sensei provides recommendations for your unit mix and phasing, and expert projections for your pricing model, operations budget, rent up period, ten-year cash flow projections and sensitivity analysis (and more) - demonstrating to your financial partner this is a sound investment worthy of underwriting. The full study is the foundation of your business plan.
Fee: $7,600 or if needed, an in-person evaluation of your proposed market is $8,600 plus travel expenses.
If the initial study is completed first, its cost is applied to the full study if it is conducted within ten months.
Reverse self-storage, boat and RV storage, storage condo, contractor yard or flex warehouse feasibility study - When you know you want to develop a storage business, but do not know what the best market for you to build in is, a reverse study helps you reach that decision with confidence. Sensei works within your parameters to identify the most viable market to meet and validate your goals.
Business plan or marketing plan - Sensei has written more than 300 business and marketing plans. Whether you need a professional self-storage, boat and RV storage, storage condo, contractor yard or flex warehouse business plan for your lender or investors, or a marketing plan that includes a step-by-step plan of tactics to implement to gain the largest possible market share, please allow us to put our expertise to work for you.
Different from the other guys
Unlike other storage consulting groups, Sensei and her research assistant do all the analysis themselves. Your project will not be farmed out to a freelancer and it will not be a rubber stamped regurgitation of irrelevant information. Your report has a deep dive into all of the data unique to your submarket and proposed development.
Sensei Katherine does not do property management or construction management and does not stand to benefit financially from green lighting your project.
All feasibility studies are painstakingly researched and contain a thoughtful analysis of your market and the viability of your project. We include hard data and citations throughout.
Request more information about the type of self-storage feasibility study, boat and RV storage feasibility study, storage condo feasibility study, contractor yard feasibility study, or flex warehouse feasibility study you need or schedule a call to discuss how Sensei Katherine may serve you.