After your preliminary research is completed, this initial study takes a hard look at the competition, rents, supply and demand to determine the market’s ability to support the proposed facility (also known as a Phase One Feasibility Report). Specifically, Sensei researches:

• Traffic patterns and customer behavior

• Market demographics and psychographics

• Competitor’s rental rates, pricing trajectories and other fees

• Planned competitive development in the pipeline

Using this data, Sensei makes development recommendations and projects initial income and return on investment . 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 Feasibility study. If so, the cost of the initial study is applied to the full study.

Fee: $3,900 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 $1,000 fee. (Self-storage with limited boat and RV storage or vice versa is one business focus, as are flex warehouses with contractor yards.)