The Business Plan For The Fool Proof Business

Create a business plan for a business that is nearly guaranteed to succeed.  That's right:  a self storage facility business plan.  It may not be glamorous, but it is a money machine.

A colleague actually became a multi millionaire in this industry.  He did nothing else.  He just built self storage facilities, hired a couple to manage each, then went on to the next location.  Over a period of a few years he built himself a self storage empire that put him among the very, very wealthy.

Your goals may be more modest, and that's fine.  Whatever level of business you want, you can probably have in the self storage industry.  There are ...

• Boat storage facilities
• Mobile storage units
• Indoor storage facilities
• Self serve storage units
• RV storage

... and all the sales of boxes, locks and paraphernalia that goes along with it. 

There are some drawbacks, notably that you will likely need to live on the premises.  It gets expensive hiring guard services, so you will need to provide that yourself.

And you also need to identify an area that is likely to grow.  While it is true that areas that are declining have a strong demand for self storage units, that demand is short lived.  As soon as those people find a permanent home, they will remove their belongings and take them to their new home.

An area that is growing will need storage units for a long time.  People just tend to have more stuff than they need.  College students need a place to stash stuff over the summer.  Ski areas need places to store all that ski stuff out of season, as do other seasonal sports areas.

The self storage business is a great business for minorities, and for women.  Friendliness is a whole lot more important than the color of your skin.

As with any new industry, if you are not already familiar with this business, become familiar with it before opening one yourself.  There are legal considerations and promotional tips that only being a manager can teach you.  Go somewhere that won't be competitive to your location and either apprentice yourself out, or get hired as a manager.  Then soak up all the knowledge you can.  Your self storage business plan will come together in now time!