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Self Storage Market Feasibility Study

If you are looking to propose a self storage project to a potential developer, investor or lender, chances are they are going to require that you provide them with a "market feasibility study". Not too long ago, an entrepreneur or businessman just had to do a PowerPoint presentation and convince the investors. But today, both lenders and investors are looking for thorough research, stats and possible outcomes of a potential self storage facility project.

A self storage feasibility study (or market analysis) will provide your potential lenders or developers with a wide scope of information that will help them determine if your idea or project is worth the time, money and effort. Market feasibility studies are used in almost all industries from recreation & medical to food & franchising. Not only is it important to be able to provide this type of study to your potential lenders and investors, it's good for you to know what you are getting yourself into. A typical feasibility study would include:

  • Serious point evaluation rating
  • Potential of operation success
  • Suggested Unit mix (sizes, type, totals)
  • 5 to 10 year pro-forma
  • Rent-up and vacancy projections
  • Overall summary of project
  • Local area supply and demand
  • Analysis of market area demographic
  • Competition and saturation
  • Traffic estimations and count
  • Market Barriers
  • Cost of Entry
  • And so much more

Though possible to perform and create your own feasibility study, most lenders will prefer that an experienced and recognized self storage management company with years of experience provides this for you. Not only will it save you time, it will also ensure that you get the best information regarding you potential project.

If you are serious about starting a self storage facility or any other type of commercial business, contact Sterling Management. Sterling Management is a reputable and experienced self storage management and consulting company that has helped many facilities nationwide perform the best studies that have attracted some of the biggest lenders in America.

For a free consultation regarding your potential project and/or questions about market feasibility studies, call 866-641-9016 today, or feel free to contact us here.

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