By Mark Sherman | Director of Operations, S3 Partners
With more and more people discovering the joys of outdoor adventure in their RVs and boats, storage facilities that cater to this niche are on everyone’s radar as the next big investment opportunity. With relatively low overhead and a largely untapped market, many savvy investors are turning toward the RV and boat storage industry and seeing major rewards.
Let’s explore some of the common operating expenses you’re likely to incur in your RV and boat storage business so you can be best prepared.
Modern Tenants Expect Modern Amenities
Whether you are thinking of building a new storage facility or upgrading a current storage business to accommodate RVs, boats, and toys, you’ll have to remember that the best tenants are looking for more than just a place to park their beloved (and expensive) recreational vehicles. These high-end tenants often bring high-end expectations and different needs.
Modern RV & Boat Storage Facilities Amenities:
- Electric Hookups in Units
- Vehicle Wash Bays
- Dump Stations
- Water-Filling Stations
- Cleaning and Valet Services
- Winterizing Service
- Online Conveniences
- Temperature Control
- Enhanced Security
Amenities like these come with additional upfront hard costs in addition to ongoing soft costs to keep the services running. However, consumers looking for these amenities will also be ready to pay a premium for excellent service and care, so your investments are very likely to pay back dividends quickly.
Managing Ongoing Operating & Maintenance Expenses
No matter the size or location of your RV and boat storage facility, site maintenance is critical.
Machinery like rolling doors, access gates and HVAC systems will all eventually need service or replacement. Building materials like flooring, pavement, and paint will need regular upkeep or will look neglected over time. Roofing will need to be regularly inspected and leaks repaired swiftly. Landscaping also requires regular attention.
Some of the top expenses involved in operating a RV, boat and toy storage business include:
- Doors and Gates
- Restrooms and Wash Bays
- Landscaping and Snow Removal
- HVAC Systems
- Plumbing and Electric
- Paint, Flooring, and Pavement
- Staffing and Training
- Marketing and Outreach
- Taxes, Permits, and Insurance
Owners and staff are usually able to handle simple day-to-day needs and even some moderate repairs when needed, leaving the larger projects for a trusted contractor. But keep in mind, with customer service as a priority, that means office managers should be available to help tenants first, not troubleshooting the HVAC.
Help Getting Started
Yes, there are a lot of expenses involved in running a successful RV and boat storage facility, but the investment is well worth it – we’ve seen it. If you are thinking about building a new RV and boat storage facility or remodeling an existing facility to accommodate RVs, boats, and toys, we’d be happy to help guide you through the process as a partner you can trust.
About S3 Partners, Experience Delivers Success™
S3 Partners provides Expert Services for the Self-Storage and Toy (Boat, RV, Cars plus) Storage Industries. Whether you’re building a new facility, researching suitable construction sites, or considering updating a current facility, storage projects present a host of complex challenges. S3 Partners’ professional staff has the knowledge and expertise to help you avoid common pitfalls and costly mistakes. No matter the size of your project, our services keep costs down and maximize your return on investment. | Visit us at s3.partners