Why Do You Need One

If you are looking to build a new self-storage project or expand on an existing one, you need to make sure the market will support it.  It is important that you seek the advice of a professional that can help you determine this. 

Most lending institutions and investors want to see a feasibility study from an industry expert.  They want to make sure you have taken your project from a “Risk to a Calculated Risk” through completing a comprehensive feasibility study.  If you are going to build a million to a multi-million dollar business you want to minimize your risk and maximize your success.  Hiring a good feasibility expert can help you to accomplish just this.   

Over the years we have completed feasibility studies on small, medium, and large self-storage projects.  We have worked on small rural locations all the way up to large multi-story projects.  What makes us unique is we have developed self-storage projects and have a thorough understanding of what it takes to build, design, and create a business model that works.  This background is critical as many times we can make recommendations to help make your project more feasible and financially successful.  

In addition, we have over 20 years experience in managing over 25 self-storage locations with each one having their own unique market, customer, and demographic.  This experience has helped us determine the key demographic indictors that make up a good self-storage location.  It has also helped us to estimate how much square footage of self-storage a market will support in both climate and non-climate controlled storage.  All of this experience and expertise is included within our feasibility study.  

We also have years of experience in budgeting and forecasting the income and expenses of a self-storage location.  It is critical that you hire a professional that can accurately forecast your future.   This can make or break the success of your project.  In addition, we forecast your lease-up and determine when your self-storage project will break even, stabilize, and how much working capital will be required along the way.  

In today’s competitive environment, Brad has helped many clients determine the feasibility of their self-storage project.  

What is included within feasibility study – click here