Self Storage Feasibility Studies
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  Self Storage Feasibility Studies. Webster's New Collegiate Dictionary defines 'feasible' as 1) capable of being done or carried out; 2) capable of being used or dealt with successfully, suitable. When you consider this definition, it really captures the essence of performing a self storage feasibility studies for a site.    

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Self Storage EmploymentSelf Storage Employment - Here you will find information on getting employment in the self storage industry. Tips on finding the correct candidate for the position you are looking to fill. Self Storage Employment.

Self Storage Feasibility Studies. Webster's New Collegiate Dictionary defines "feasible" as 1) capable of being done or carried out; 2) capable of being used or dealt with successfully, suitable. When you consider this definition, it really captures the essence of performing a self storage feasibility studies for a site.

Self Storage Feasibility Studies
Feasibility Studies

Self Storage Feasibility Studies

Conducting a feasibility study should be looked at as more than just determining the viability of a specific location or market area for your project. It should be viewed as the process of determining if you really are suited to be in the self storage business along with the analysis of the specific location you have identified. The completed self storage feasibility studies should provide you with a road map to self-storage success or an objective warning telling you not to build on the location.

Consultant Qualifications

You should expect to pay a deposit of approximately one-half the fee, plus expenses or a travel advance at the time you execute the agreement. The consultant should provide quotes for air fares and try to save you money by booking one to two weeks out.

When obtaining self storage feasibility studies, gather the following information about your consultant:

  • How many self-storage projects he has developed (not how many has he/she sold or how many feasibility studies he/she has done).
  • How many self storage feasibility studies he/she conducts each year. Make sure this is not just a part-time endeavor. Avoid brokers who may have a conflict of interest.
  • Is he/she insured? With whom and for how much? Would he/she provide a certificate of insurance for errors and omissions or professional liability? Insist on insured consultants.
  • What is the consultant's volume of self-storage transactions? A good target number might be something in the $500,000 range.

Where did the consultant receive his/her training to become qualified to consult? What kind of formal or informal training does the self storage feasibility studies firm have?

  • Ask for references. For whom has the consultant worked? Do you know them? Are any of the consultant's clients large firms such as Storage USA, Extra Space, Public Storage, U-Haul or Sovran?
  • When was the last time the consultant sat behind the desk of a self-storage facility to know more about customer wants and needs? How does he/she stay in touch with the real self-storage world? Self storage feasibility studies.
  • In what types of properties does the consultant specialise? If your consultant is limited by geography or size, make certain he has the experience you seek.
  • How long will it take to get the deliver the self storage feasibility studies ? A good consultant is busy. A great consultant is busy and has depth - a feasibility study is not just a one-man show. Look for a consultant with enough resources to get the job done.

Self Storage Feasibility Studies
Self Storage Feasibility Studies

Quick Links...Self Storage

Salaries For Self Storage ManagersSalaries For Self Storage Managers - Today's self-storage market is fiercely competitive. New multistory properties with state-of-the-art security, conference rooms, business centers, free Internet access and offices the size of a typical business organisation. Salaries For Self Storage Managers.

External Links...

PROjEN PLC - PROjEN can work independently or alongside the client project owners, providing expert advice from day one. We supply crucial resource when it is needed, control budgets and programmes and ultimately deliver the project as the client originally intended. Our core business is the successful delivery of projects from feasibility, capital justification, front-end engineering, detailed design, through to full turnkey project completion, providing the client with single point responsibility. Self Storage Feasibility Studies.

Maine Valuation Company - MVC offers independent opinions of value on all types of commercial real estate that are supported by primary market research, objective analyses, and seasoned judgment. We are professional commercial real estate appraisers only. We do not compete with our clients business interests. Our compensation is not contingent upon the results of our work in any manner.

Self Storage Feasibility Studies
Self Storage Feasibility Studies

Finding a Feasibility Firm
Referrals. Referrals are great, but if you are referred by someone who just thought he got a good report, it doesn't do you any good. In addition to a referral to a self storage feasibility studies firm, seek other references. It is also a good idea to go into the open market and shop your options. Suggest investigating some of the following sources.

Tradeshows. Go to industry tradeshows and visit the exhibits of companies that conduct self storage feasibility studies. A good firm will be highly visible and available to answer questions. A tradeshow is a commitment. On average, it costs a company approximately $5,000 to exhibit (including travel and materials). If a firm is not willing to invest in meeting new prospects, you must wonder why. It could be the self storage feasibility studies company just couldn't make it to a particular show, or it could be it is too busy to take on new business, financially unsound or just generally unavailable.

Articles and Seminars. Look for a self storage feasibility studies firms that contributes to the industry in ways other than advertising and marketing and keeps abreast of self-storage developments beyond its particular focus. Seek a well-rounded professional who has experience and expertise in acquisitions, management, brokerage, training, operating, financing and development. Perhaps the firm has written articles or conducted seminars on some of these topics. Not only are these good ways to learn more about the feasibility process, but they may provide insight to the quality of the firm.

Trade Associations. It is a good idea to deal with self storage feasibility studies firms that are members of state and national self storage associations - preferably ones active in the associations' activities. Giving back to the industry is an important part of the business process. It keeps consultants in touch with reality.

The Internet. These days, most reputable self storage feasibility studies companies will have a website of some sort. If you search for a firm online, there are some things to look for: How informational is the firm's website? Can you view feasibility reports online? Are there other samples of the firm's work? Are fees listed? What about descriptions of levels of service? Are consultants' resumes posted? What kind of information is the firm willing to share?