A Market Study and a Feasibility Study are important first steps to ensure the viability of any proposed self-storage project, no matter the market. Self-storage is primarily about two things: location and the execution of good practices. Both of these are sometimes difficult to see in an unbiased and expert way; but a thorough study addresses both issues and helps ensure they can be mapped out ahead of time. As with a lot of things, the more thought put in ahead of time, the better the end result.
To minimize cost, our reports are structured into two separate, but symbiotic studies. The first is a Market Study. It is an overall review, is intended to answer the question “Is a storage facility a good idea in the location or property chosen.”
If a storage facility is not viable on the given property or in the given market, this important feedback can be given up front- thus saving you money. If the project is deemed viable, then further research can be done in way of a Feasibility Study. A Feasibility Study will include a comprehensive review of the specifics of the property or location and includes a site visit, a review of the architectural plans, assistance with choosing a property if needed, and other research.