| This is not a "Field of Dreams" build it they will | | | | breakeven on the loan? At what percentage of |
| come! Would you bet $1,000,000 on your location to | | | | occupancy will breakeven happen? Since you have |
| build a Self Storage Facility? This what it could cost to | | | | never ran a self storage before what makes you think |
| develop a typical site. You need to do your homework | | | | you will be successful at this business? From just |
| first. Have you had a Feasibility Study done and how | | | | these few questions you can see that it will take a lot |
| about Phase I Enviromental Study? What if the site | | | | of planning, time, professional help and some money to |
| was a dump ground just 20 years ago? What if there | | | | find the answers to most of these questions. You may |
| is no need for another self storage facility? It is always | | | | ask where do I start? Knowledge is applied wisdom. |
| best to spend a little money and make sure it is a | | | | You must get educated in Self Storage if you want to |
| good location. Another question do you have the time | | | | build your own facilities. Join your state Self Storage |
| to oversee everything from Feasibility Study to | | | | Association, go to the special programs they have on |
| Completed Construction? Do you know the ADA laws | | | | education. Go to Self Storage Trade Shows. Join |
| that apply to self storage? Who will build the facility? | | | | T.S.S.A. Texas Self Storage Association the first Self |
| Where will you get the trades you will need? Where | | | | Storage Organizations and largest in U.S.A. |
| will you buy the building from? What are the hard | | | | Contact Professionals in this business that have the |
| cost? How much will you need down on any typical | | | | track record of success in Self Storage Development. |
| project? I am not asking these questions for no | | | | There is nothing better than a Educated Competition in |
| reason. This is a Serious Business and you must take | | | | this business. Smart people will do their homework, |
| very careful steps and make sure of all the | | | | count the cost, plan, get professional help and will be |
| details before you even go to the bank to try and get | | | | successful. |
| a loan. Most banks will require a Feasibility Study | | | | Feel free to contact me at I wish each and everyone |
| conducted on the location. Most banks will ask the | | | | of you the best in your plan to Develop your own Self |
| following questions, Have you ever ran a Self Storage | | | | Storage Facility. Just do your homework and get |
| Facility? Who will manage the facility? How will you | | | | educated in the Self Storage Business. Feel free to |
| Market the facility? How will you make payments until | | | | join our group on yahoo at SelfStorageBusinessHow. |