Self Storage Development  

Market Study & Facility Feasibility Analysis Report

The study requires two to three days in the field and a couple of weeks of additional research, compilation, and production.  The end result is an overview of the current operation, a market study, and a business proforma that provides you, your advisors and your bankers an objective outline of the return you will receive from the self storage subject property and what you will have to do earn it.

    The report will begin with an executive summary of the project.  It will
       address the various components of the report and state a clear
       recommendation as to the  viability of the project.
    The site access, visibility, an other relevant factors which contribute to the
       success of a self storage project.
    The proposed improvements, unit mix and features that would provide you the
        best long term return on investment.
     Recommendations on RV and boat parking, mail boxes, retail sales, truck
        rentals and other options which may or may not add to a property’s bottom
        line.
    The competition in the various segments of your proposed trade area with an
        assessment of their operations and the impact on your project.

Feasibility Analysis Includes:

     Proposed new competitors that may be discovered through municipal
        planning records or industry channels.
     The market area demographics in terms of population, number of households,
        levels of income, household mobility, traffic counts and flows, and other
        factors which influence the success of a self storage facility
     The rent up schedule and estimate of carrying costs until break even.
     First five year revenue and expense operating pro forma.
     A preliminary construction cost estimate, based on square foot averages in
        your market.  This is not a detailed construction and equipment budget, but is
        useful in estimating the expected all in costs and ensuing return on
        investment.

Design and Soft Costs

  Turning your business plan into a reality requires knowledge as to what features and benefits will truly add to your bottom line.  When you build a storage facility, you are not only building the store, you are stocking the shelves and merchandising the aisles.  Doing it right the first time not only saves expenses in the future, it maximizes your top line from the moment the property opens for business.

          helping you choose the professionals you really need,
          providing the overview for the layout, design and features of your
             project,
          working with the municipality in obtaining all the variances, permits, and
             approvals
          taking the finished plans or scopes of work and obtaining bids and  
             verifying final budgets.

Construction

Advantage Advisors, LLC is not a general contractor.  However, we can help you qualify the local contractors and tradesmen and lead a construction team that gets it done in a cost effective and timely manner.  As questions and contingencies arise during the project, as they do with every development, we will be there to provide you and the contractor with the guidance and perspective that can save you thousands in construction without compromising your future operation.

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