Sold. Commercial And Household Self Storage Facility

Commercial and Household Self Storage Facility
Self Storage, Off-Site Container Rental & Container Sales
Ref.GI042
Location West Midlands
Asking Price £ 495,000
Established over 20 years ago this multi-faceted business provides a range of storage solutions to a whole host of commercial and private customers within the West Midlands conurbation. The company has three main revenues streams and these are:

• Self storage provision from a large, highly secure and accessible site (circa 1.25 acres)
• Container rental where containers can be hired, delivered to and collected from customer sites
• Container sales (new and used).

The self storage facility operates from an ideal, safe and secure leasehold site that boasts 24 hour manned security, CCTV and floodlighting. The site has excellent access and is suitable for both commercial and domestic vehicles. The company has a good range of containers (approximately 80-100 at present, sizes from 10-40 feet) and loyal customers include both large and small companies(public and private sector), as well as households. The business currently has circa 60 regular self-storage customers. Self storage accounts for circa 45% of current revenues.

Off site container rentals currently equates to circa 45% of revenues (the business currently has some 50-60 regular rental clients). This company can arrange haulage delivery and collection services for customers as well as offering site surveys prior to delivery to ensure there are no restrictions of safety issues.

The remaining 10% of revenues coming from container sales(new and used).

Access to the storage facility is available 24 hours a day, 365 days a year. Occupancy levels are good (circa 70%) with 10ft, 20ft and 40ft containers available for rent. Individual key holding provides additional security for clients and minimal labour for the owners of the business.

Expansion Potential
The business has numerous opportunities available to help develop the business. These include the provision of additional services to customers including: labour, forklift hire, racking, lighting, and even archiving facilities which is a highly lucrative avenue to explore.

The business currently does very little advertising. Although occupancy levels are very healthy, an investment in the marketing of the business would boost revenues to even higher levels.

There is space for additional containers, which again would add to both the turnover and the bottom line. The business could also develop the hire and sale of welfare units.

Prices have been kept at the similar levels for several years, so a price increase could be an option.

Introducing an in-house transport service would compliment the current business and could be an obvious next step.

Market / Competition / Non-Competition Agreements
The business has built up an excellent reputation within the region. Word of mouth referrals are very common. The business has high levels of occupancy which clearly reduces the need for high profile advertising. Currently only yellow pages and yell.com carry regular advertising for the business. The business also has its own informative website.