Lake Straight Self Storage

Lake Straight Self Storage

Adlar Feldotte

Swan Valley High School

8400 O’Hern Road

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TABLE OF CONTENTS

EXECUTIVE SUMMARY………………………………………………………………………. 3

DESCRIPTION OF PROPOSED BUSINESS …………………………………………………...3

OBJECTIVES OF THE BUSINESS ……………………………………………………………..3

PROPOSED BUSINESS STRATEGIES ………………………………………………………...3

PRODUCTS AND SERVICES TO BE PROVIDED …………………………………………....3

MANAGEMENT AND OWNERSHIP OF THE BUSINESS …………………………………..4

MARKETING ANALYSIS ……………………………………………………………………....4

FINANCIAL ANALYSIS ……………………………………………………………………....4-5

SUPPORTING DOCUMENTATION …...……………………………………………………….6

WORKS CITED…...………………………………………………...…………………………....7

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Business Plan

Part I-Executive Summary

Do you have too much stuff sitting around? Are you tired of having to move things from
place to place just to get them out of the way? Do these things hold some sort of value with you?
If you said yes to any of those questions then we know just the place for you. Come on down to
Lake Straight Self Storage. We have different sized storage units that can fit to your needs. We
can even adjust the size of your storage unit in just under a day. Here at Lake Straight Self
Storage, your valuables will stay secure and locked. All units are clean and newly renovated so
there is no worry that a pesky critter will get into your unit.

Part II-Description of Proposed Business

Lake Straight Self Storage is a great business that offers many different sized storage
units. Units can also may be adjusted (depending on the fact that there is no renter on the
opposite side of the wall). Each renter has access to their items 24/7 and units are securely
guarded with an alarm system. Customers should feel comfortable leaving their things with us
and that is our number one goal. We will also have a easy-to-access website where customers
can ask questions, make payments, etc.

Part III- Objectives of the Business

Our objective at Lake Straight Self Storage is to make sure people feel comfortable
leaving their items in our spaces. With our security systems, customer shouldn’t have to worry
about damage or theft of their items. Hopefully, while renting one of our units, we want our
customers to live in a less cluttered house without having to get rid of their valuables. Also, we
want to provide you with a clean and ready to rent unit with the help from our friendly
employees.

Part IV-Proposed Business Strategies

A short term goal for Lake Straight Self Storage is that we can fill all of our units within
the first year. Some long term goals consist of expanding on our first lot, eventually filling the
entire property, and putting more complexes around the state.

Part V- Products and Services to be Provided

We would offer items to be sold in our front office. We would sell locks, boxes, pallets,
blankets, and other storage needs. Our customers can provide these items for themselves as well.
Our services would include help with moving items into units, cleaning units, and managing the

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office in front. We would also offer our help with dollies and jacks to help move bigger items
into units.

Part VI-Management and Ownership of the Business

Lake Straight Self Storage will be owned by me and my friend. For the first couple of
years, him and I will take care of the property and act as receptionist and groundskeepers. I will
have two to four employees. One to two will work in the office as the receptionist. They will
keep track of money and all of the documents while handling phone calls and talking with
customers. Also, one to two will work as grounds keepers. They will make sure that everything
is clean, mow (when appropriate), push snow (when appropriate), fix the buildings (if needed),
and help customers with their heavy objects. The amount of people working will ultimately
depend on the weather and how busy we are but there will always be at least one person in the
office. The other workers will only come when and if needed

Part VII-Marketing Analysis

The need for storage in cities is greater than in rural areas because people are more likely
going to have more room on their properties in rural areas. However, this doesn’t stop us from
letting us rent to everyone. We could also offer deals to the parents of college students or the
student if they are moving away for college and would like to store their belongings. There isn’t
really just one target audience for us because so many people could need extra space for their
storage.

SWOT Analysis

Strengths:
- There will always be people that need storage
- Lots of people renting so they may tell others about us
- Low prices
Weaknesses​:
- People often do not need storage in the winter time
- Some storage units sizes may run out quicker than others
Opportunities​:
- Can reach out to college students for discounts on units
Threats​:
- Competition with corporate and other local storage businesses
- Land placement (floods, tornados, etc.)
- Hazards (fires, floods, earthquakes, etc.)

Part VIII- Financial Analysis

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Both owners will put money into the business around $60,000 each with some help from
investors also. With $70,000 in liabilities that puts the business at $200,000 to start with. We will
start with one building that is 5,000 square feet so to ensure that there is enough room we will
add 10,000 square feet to put us at $18,750 for the property. It is $25 per square foot to build a
building so with only one building it would be $125,000. For the first year or so, the other owner
and I will work their and once we are able to expand, we will hire two to four part-time
employees. When we are growing and able to expand, we will buy more property and put up
more buildings according to the need but for start-up, we are going to start small. With our rent
being due monthly and averaging about $100 per unit per month, we would make $2,500 a
month. Hopefully, starting out small will help our business grow into something big over time.

Balance Sheet for Lake Straight Self Storage

Assets Liabilities
Cash $ 20,000.00 Accounts Payable $ 70,000.00
Land $ 18,750.00 Owner's Equity
Supplies $ 10,000.00 Owner #1 $ 60,000.00
Building $ 125,000.00 Owner #2 $ 60,000.00
Equipment $ 10,000.00 Total Owner's Equity $ 120,000.00
Workers $ 16,250.00
Investors’ Equity $ 10,000.00

Total Assets $ 200,000.00 Total Liabilities and Owner's Equity $ 200,000.00

Income Statement for Lake Straight Self Storage

% OF
SALE
S
Revenue:
Sales (rent) $ 30,000.00 82%
Sales (other items) $ 6,000.00 18%
$ 36,600.00
Expenses:
Insurance Expense $ 10,000.00
Miscellaneous Expense (also includes Internet) $ 3,000.00
Payroll Expense $ 10,000.00
Utilities Expense $ 5,000.00
Total Expenses $ 28,000.00 77%

Net Income: $ 8,600.00 23%

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Part IX-Supporting Documentation

Business Card

Billboard

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Works Cited

"Billboard Png Hd Photo - Billboard Png, Transparent Png - Kindpng." ​KindPNG.com,​

www.kindpng.com/imgv/JoRiRb_billboard-png-hd-photo-billboard-png-transparent-png

"Delivery Icon of Line Style - Available in SVG, PNG, EPS, AI & Icon Fonts." ​Iconscout,​

iconscout.com/icon/delivery-transport-warehouse-godown-storage-storehouse-9.

"Error!" ​MOO Print Official Website Country Selector | MOO (United States)​,

www.moo.com/bascule/us/pixel?id=ec158be6c8dc487ea3bd4f85f5191cae#step=review.

"Komika Title | Font & Text Generator." ​WeirdMaker Text, Font & Letters Generator​,

www.font-generator.com/fonts/KomikaTitle2/.

Wright, Caesar. "Cost To Build Self Storage.”

Steel-Building-Supplier|Self-Storage-Construction|Storage Business​,

www.makosteel.com/blog/bid/84411/cost-to-build-self-storage.

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