How Feasibility Studies Make A Difference By Benjamin Burkhart

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    When I was growing up in rural West virginia, one of my family’s primary summer activities was growing a great big garden. My father spearheaded the annual venture and oversaw everything from the cover crop during winter, to the year-to-year rotation, to the timing and longevity of each planting. My dad grew up on the big family farm, and he generally knew what worked best, from his many seasons of experience, which always helped us have one of the best gardens in the area. i learned that a successful garden depends on the right plan, the right weather, and little adjustments along the way. We often had such a harvest, we had to give half of it away. it was awesome.

    like growing a garden, any successful self-storage business should have a specific design for success. For a new project, however, it becomes so important to have a clear plan for achievement that aligns with a feasibility study.

    When planning a new self-storage project, you need more than just a prediction of suc- cess or failure. a quality competitive analy- sis, market overview, and financial proforma should give you the information you need to build a solid business model, effect a solid marketing and sales strategy, and measure actual success.

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