Market Feasibility Reports Better Management Systems offers a variety market analysis reports to meet your needs. The most popular report is the "mini" report, suitable for submission for requests for bank financing, and especially great during property purchase due diligence to evaluate if storage is the best use.
"Mini" Feasibility Study This report is 4 sections. I will help you to determine the "competitive trading territory", i.e. 1,2 or 3 miles, 1, 3, or 5 miles or whatever is appropriate for your project. A demographics review and comparison covering current past and future projections. A complete competitive location analysis with actual site visits, summary per location, pictures, a rent roll up summary and my exclusive absorption table(s). In the financial section I use the data to create a projected proforma including unit mix summary with projected annual rate per ft by category to generation a "gross Potential Income" which then carries through along with payroll projections and expenses, into a 36 month fill up projection. Finally this is summarized in a 7 year operating NOI projection. I conclude with a summary of the report and my recommendations.
Full Package Market Feasibility Study The full package feasibility study includes a fifth section which is a macro review of the Self Storage Industry in general and is more appropriate when dealing in situations where lenders are unfamiliar with the segment. In this section I also "drill down" on the specific market and economic influences specific to the self storage business. The full report package also includes a visit to the local planning and building and zoning department to check out issues and possible other potential projects
"SNAP SHOT" Report A snap shot reports provides the basic demographic data, the competitive analysis with the absorption tables and a brief summary. Neither overview nor financial section is included, and no field on-site visit are performed.
Novice Developer Assistance Once you have decided to proceed with the development and construction of your self storage project it is very advisable to have on board an industry expert that can help you to avoid making costly "first timer" mistakes. (It is better to take an eraser to the project than a back hoe or bulldozer).
Site Plans Work to optimize any layout including master plans, mixed uses, and difficult locations. Meet with civil engineers, architects Landscape & MEP engineers. -Assist and make recommendations on design and facility layout
Unit mix and layouts Working with your builder or architect we strive to maximize the efficiency of any unit mix and layout. Special attention is paid to local market considerations, unique and unusual size demands, operations and accessibility. Loading and unloading, staging, office observations, security and safety play a key role in all analysis.
Office Layout Special attention is paid to efficient flow of all factors that make a successful storage operation. Retail, customer access, employee work flow, security, storage, even break room, security monitoring, and bathrooms are analyzed for maximum efficiency.
Owner Representation As an independent owner representative there are no hidden agenda. You receive honest opinions and fair assessments of work performed and project progress. As a seasoned professionals dealing exclusively in the self storage arena, our guidance will save you much more than it will cost.