Floyd Dyess
West Palm Beach, FL (USA)
Role(s):
Carefree Storage
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Startup
Location:
West Palm Beach
Industry:
Retail/Clothing
Year Founded:
2007
Number Employees:
INVALID
Description:
This business plan describes a proposed self storage facility to be located in West Palm Beach, Florida. The project involves the conversion of an existing building. The total project cost is estimated at $400,000. This includes the leasing of the building, conversion of the building into a self storage facility, and pre-opening expenses (see Start-up Summary).
Based on current and projected strong demand for self-storage units, rental revenues are projected to grow rapidly as units fill up from the first year's target of $50,500 to $142,000 by year three. Before taxes, gross profits will grow sharply from $15,000 in the first year to approx. $185,000 in the third year.