Require a Feasibility Study?
In today’s climate, there are four main reasons to perform a feasibility study for a self-storage project:
Supply and Demand Analysis
To confirm your own initial findings that a site has the required demand and other features needed for a great self-storage location
To obtain estimated construction costs, along with an income-and-expense pro forma to better understand the financial scenarios and opportunity for profit
To better understand your competition so you can plan accordingly
To satisfy the feasibility study requirement of banks or investment partners