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Backbone of a Self Storage Business Plan

  • Starting a place for safekeeping facility requires lot of planning. It is essential to develop a blueprint of a proper self storage business plan before entering into this field. Before you start planning, you have to answer one question i.e. whether you want to start your own warehouse or want to become a franchisee of some reputed storehouse. If you want to start your own warehouse, then the various aspects of this business like location, facilities, marketing and sources of funds, have to be kept in mind while developing the blueprint.

    Some important points for developing a blueprint are

    Type Of Storehouse

    The first step in developing a business plan is to decide the type of storehouse you want to set up. Do you want to set up multi facility storehouse providing wine storing units, vehicle parking and store units for general purpose or you want to set up a vehicle garage only.

    Investment

    Decide the amount of money you want to invest in starting a warehouse facility. You should then determine the amount that you can finance through your own funds. For raising the rest of the money, you need to find other sources of funds.

    Location

    The next step in the self storage business plan is to decide the location of the warehouse. You should opt for a location where there is huge demand for the storehouse facilities but less competition. However, you have to keep your start up investment in mind while choosing a location.

    Facilities

    You should decide the kinds of facilities that you would offer to your customers. For e.g. if you are planning to develop a vehicle storehouse, then what kind of parking space will you offer to your customers Would you include facilities like servicing of cars in your storehouse.

    Laws And Taxes

    You should know the laws and taxes of the state where you want to setup the storehouse. The knowledge of the laws would help you to list all the clearance and paper work you need to do before starting the warehouse facility. The taxes would help you in calculating your overheads of the storehouse facility.   

    Manpower Estimation

    An important part of the business plan is estimating the human resources required to run the facility. This in turn would help in estimating the monthly wages of the employees and the amount of money required for their training.

    Marketing Strategy

    You should clearly state your marketing budget and strategy in your self storage business plan . This is one of the most important steps for running a warehouse successfully. During the initial stages, you need to advertise more so that people become aware of your storehouse and start using your safekeeping facilities.

    Security Arrangements

    Security of the storehouse is very important and hence allocation of a proper budget for security arrangements is essential. Some of the basic security measures that you should have at your warehouse are high fenced walls and 24 X 7 security personnel.

    While developing a self storage business plan , you should take advice from consultants in this field. They have a good knowledge about this industry and can help you to set up the best storehouse. They would also acquaint you with the challenges that you might face while running the facility and the solutions to those problems. They know how to impress the financial institutions with the right blueprint to raise finances and hence can help you make a winning plan.

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    Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.