Additionally, Cormode & Dickson are experts at pre-fabricated steel buildings – the best option for your self-storage facility. Not only are pre-fabricated steel buildings strong and durable, withstanding the harshest elements, resisting fire, insect, and moisture damage, but they also offer the versatility of column-free interiors, making your pre-fabricated steel self-storage building customizable using temporary, moveable walls.
There are many benefits to investing in self-storage, the first being that anybody can invest – it’s not restricted to the wealthy and the second being that with baby boomers reaching retirement age, there will be a lot of downsizing and need for self-storage. Furthermore, self-storage facilities are recession resistant, low maintenance, they have predictable costs and, if planned correctly, they can offer consistent cash flow.
The first step to building a self-storage investment facility is, as with any project, research. To ensure the success of your self-storage business, you must ensure that the location you select has a demand for the facility, is correctly zoned, is affordable, and close to population centres. Once you’ve found potential locations, you’ll need to find out what kind of zoning is required for the area to ensure you can actually build on the land. Don’t be intimidated by this step, as experts, Cormode & Dickson can guide you through this initial step.
In order to maximize profit potential, you’ll need to determine the best layout and design for the building. For example, whether you want to include drive-up units and rental square footage (extra wide single story versus multiple stories). Drawing upon years of experience, Cormode & Dickson will assist in developing and executing your site plan to ensure your self-storage design is attractive and functional with good curb appeal. Your design should allow for smooth, simple accessibility, particularly if customers are driving to their rented areas and it must comply with the city’s local architectural standards and regulations. However, be sure to focus on creating an inviting, aesthetically pleasing office environment because many investors regret skimping on this component.
As always, the business plan is your most crucial document. Not only does it contain your market analysis, anticipated project costs, marketing and communication strategies, profit projections, and growth plans, but it also outlines your overall business strategy, acting as project map to guide you through start-up and operation. Between the initial research and analysis to write your business plan and the zoning, permitting, design and construction concerns, investing in a self-storage facility is a complicated venture. As your self-storage constructor, Cormode & Dickson manages the building’s design and layout, researches the profitability and best locations, applies for and obtains permits, and manages self-storage construction costs throughout our working relationship. Cormode & Dickson doesn’t just construct your facility; we help you build your business.
Interested in investing in Self-Storage in Western Canada? We can help! Contact us for a free consultation.
