I need help starting a self storage business. Where do I start?
I have the money, but what do I do first?
I suggest you first start by doing a research on the business, the costs and investments it entails, the market for storage in your planned location, legal requirements, and operational characteristics.
One website I highly recommend is Self Storage Association at http://www.selfstorage.org. They have produced several must-read publications on the self storage industry that any would-be entrant in this field should read. These studies include Financial & Operational Characteristics of Self Storage Facilities; Self Storage Demand Study; The Best of The Self Storage Legal Network: Answers to the 75 Most Frequently Asked Legal Questions; among others. The prices of the publication may be a bit steep but it is always better to know more about the market before you enter it, especially for a business that will require significant initial outlay.
You may also want to check out the following books:
- "How to Invest in Self-Storage" by Scott Duffy; RK Kliebenstein
- "Market Analysis and Valuation of Self-Storage Facilities" by Richard R. Correll
I have also included links below to a sample business plan that you can study and even adapt, as well as an overview of the self storage business from a subsidiary of SBA.
Good luck!
Isabel Isidro
http://www.powerhomebiz.com
The Small Business Administration (SBA) was a great help for me!
References :
I suggest you first start by doing a research on the business, the costs and investments it entails, the market for storage in your planned location, legal requirements, and operational characteristics.
One website I highly recommend is Self Storage Association at http://www.selfstorage.org. They have produced several must-read publications on the self storage industry that any would-be entrant in this field should read. These studies include Financial & Operational Characteristics of Self Storage Facilities; Self Storage Demand Study; The Best of The Self Storage Legal Network: Answers to the 75 Most Frequently Asked Legal Questions; among others. The prices of the publication may be a bit steep but it is always better to know more about the market before you enter it, especially for a business that will require significant initial outlay.
You may also want to check out the following books:
- "How to Invest in Self-Storage" by Scott Duffy; RK Kliebenstein
- "Market Analysis and Valuation of Self-Storage Facilities" by Richard R. Correll
I have also included links below to a sample business plan that you can study and even adapt, as well as an overview of the self storage business from a subsidiary of SBA.
Good luck!
Isabel Isidro
http://www.powerhomebiz.com
References :
http://www.selfstorage.org/
Self Storage Industry: http://sbdcnet.utsa.edu/E-Newsletters/news3.htm
Sample Business Plan: http://www.bplans.com/spv/3303/2.cfm
Book: http://www.amazon.com/exec/obidos/ASIN/0922154775/ref=nosim/powerhomebizguid
Book: http://www.amazon.com/exec/obidos/ASIN/0977157806/ref=nosim/powerhomebizguid
Check out the Small Business Administration web site — they’re a great resource for the small business owner. I listed a couple of other handy links as well.
Associations may be a good avenue to explore as well — see posted link.
Try reading up on the subject — check out Amazon, your local bookstore or library.
Hope that helps! I wish you much success & happiness in all your ventures!
References :
http://www.sba.gov
http://www.entrepreneur.com
http://www.startupjournal.com
http://www.nolo.com/resource.cfm/catID/9FA25870-14F1-4657-9778F19FB41FB93D/111/228/ — Nolo’s Starting a Business – Resource Center
http://www.ministoragemessenger.com/associations/ — Directory of Associations — scroll down to find your state
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