Will Your Self-Storage Site Actually Work? The Power of a Feasibility Study.

Investing in self-storage can be a lucrative venture, but before you break ground, there’s one critical question that needs an answer: Will this site actually work?

At Storage Revenue Solutions, we believe that the foundation of any successful project isn't just concrete and steel—it's data. That’s why a comprehensive Feasibility Study is the most important tool in your arsenal. Here is a breakdown of how we analyze a potential site to ensure your investment is built for success.

1. It Starts with Economics

A great location is about more than just a high-traffic road. We dive deep into the local economics to understand the "heartbeat" of the community. We analyze:

• Population Growth: Are more people moving into the area?

• Income Levels: Can the local demographic afford storage services?

• Job Trends: Is the local economy expanding or contracting?

If the population and job market aren't growing, the demand for storage won’t either.

2. Supply vs. Demand: The Balancing Act

Understanding the existing market is crucial. We don’t just look at who your competitors are; we analyze the numbers behind them:

• Total Square Footage: How much storage already exists in the market?

• Rental Rates: What is the going price for various unit sizes?

• Occupancy & Absorption: How quickly are units being rented out in the area?

This data helps us determine if there is a true "gap" in the market that your facility can fill.

3. Stress-Testing the Deal

A feasibility study shouldn't just tell you what you want to hear. It needs to tell you what you need to hear. We "stress-test" the financial projections by looking at:

• Rising Interest Rates: How does a change in financing affect your bottom line?

• Slower Lease-Ups: What if it takes longer than expected to fill the units?

• Higher Construction Costs: Can the project survive unexpected budget bumps?

The Verdict: Go or No-Go?

The ultimate goal of a feasibility report is clarity. If the numbers work and the risks are manageable, it’s a Go. If not, we help you save millions by saying No before a single dollar is spent on construction.

That is the power of a feasibility report—it gives you the confidence to invest and the wisdom to walk away when the data doesn't align.

Ready to see if your site has what it takes? Contact us at Storage Revenue Solutions today to get started on your professional feasibility study!