Feasibility

My wife and I have a favorite TV show, Bravo’s “Top Chef.” She likes the fast-moving, out-of-the-box challenges that drive the competition. I like how the chefs prepare so many unique dishes even though they’re following the same recipe. The challenges are timed, and sometimes, rather than serve a failed dish, a chef will scrap it entirely in the name ...

Any way you look at it, there are certain procedures that should be followed to ensure success in self-storage ownership. And most, if not all, of these procedures require professional assistance. It means assembling a team of experts who can help you thoroughly research the project to determine whether it is a viable plan. The two most revealing documents the ...

Preparing your facility for market involves making the property appeal to the broadest range of buyers for an expeditious and profitable sale. Until the recent real estate slowdown, self-storage owners and investors in many parts of the country saw property values rising dramatically. A combination of record-low interest rates and rapid price appreciation turned many into serial buyers or ...

My grandparents traveled to their home in South Dakota in a covered wagon, but my daughter has never seen a day when a cell phone was not readily available to call anywhere on the planet. What a dynamic world we live in! Even the self-storage industry has experienced generations of change. Though it remains a relatively austere business venture, the ...

Many in the self-storage business feel they already face too much competition. Some submarkets throughout the United Sates are indeed overbuilt with occupancy rates below historic patterns. Yet, the industry still affords numerous opportunities, and owning and operating a self-storage continues to be one of the finest entrepreneurial ventures in this country. But you must get serious about determining a ...