Business Plan for Lake Jordan Storage Suites
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Author
Fletcher, Cassandra
Date
2012
Degree
Master of Leadership Development
Abstract
The self storage industry is on the cusp of a re-growth in the industry. The nation is
beginning to rebound from the recession and families are beginning to spend money. In this
period of re-growth, the self storage industry may benefit from expanding its business to serve a
niche market. Hobby enthusiasts, small business owners, RV and boat owners all have an unmet
need. Their love for their hobby and/or business is taking over their home, resulting in a
suboptimal location for enjoyment of their hobby and as a result, their family is living in a
cramped environment. This situation may ultimately impact the return on investment associated
with their belongings. The purpose of this business plan is to see if the construction of a facility
with premium amenities would be profitable business for the self storage industry.
The proposed business, Jordan Lake Storage Suites, is positioned in a newly proposed land
development outside of Cary North Carolina. The location was selected for its projected
population growth and the county’s income per capita. A detailed marketing plan targeting each
niche clientele was developed in order to enable a quick uptake of leases and to support the
overall vision for the company. The results indicate Jordan Lake Storage Suites would begin
making a profit in its second year of business. This niche market would be expected bring a
steady flow of income with a limited vacancy rates and the return on equity is approximately 1.3
times higher than the industry leader. Based on these findings, the financial data confirmed the
investors would have a positive return on investment within 5 years.