At face value, having the idea to build Steel Storage units seems like a licence to print money, but it is not quite that simple. The Steel Storage business is more complex than that!
Of course, you don’t have many issues that other businesses must concern themselves with, such as ordering and managing a product range and spoilage, but if you are going to build Steel Storage, you must be sure there is a demand for it and that’s where you need professional help.
Clever advertising and competitive prices might work to sell some products that are more about want than need, but they won’t work if you build Steel Storage where there is no real need or demand. Slow let up could send you broke.
You may think ‘if I build it, they will come’ but if people don’t have possessions to store, or have enough space to store things at their home or business, they won’t need what you have to offer and they won’t be interested in paying for it. This is a business and like any business, if you plan to build Steel Storage, you need to do your homework first.
If you are to build Steel Storage units, one of the first questions you need to answer (or get expert help to do so) is whether you will generate enough income to cover your investment and give you a profit – or whether you should invest in something else!
You will need to check what your competition is doing before you can answer these, and certainly well before you start to build Steel Storage units, because that knowledge will help you decide whether or not to go ahead.
If you build Steel Storage that is more attractive or more convenient than your rivals, you may attract their customers to your site and you may be able to charge a bit more than the competition, but you need to remember that people want convenience most of all, so your facility needs to be close to homes, or major roads that those potential customers use on a regular basis.
Having said that, while you may build Steel Storage that is more attractive than the opposition, just because you have built it, the customers may not come, so make sure you do all your homework first.
You will need to have a mix of different sized units when you build Steel Storage sites, and that mix will depend on your demographic. Are you planning to build Steel Storage in a predominantly residential area, or an area with lots of commercial outlets? You will need different sizes to suit those different needs.
Once you know what your unit mix will be, you will have a better idea of your costs and your potential income – and, hopefully, your potential profit. Of course, when you build a Self Storage facility, you cannot expect to have 100 per cent occupancy 100 per cent of the time, so you will also need to factor that into your calculations. Use 85%-95%.
While you can do a lot of the investigative research yourself, a really good investment before you build Steel Storage is the investment of talking to the experts in the industry first, Steel Storage has the experts who can help with feasibility, design and council submissions. And they can build it!