By RK Kliebenstein
Editor’s Note: This article gives you a sneak peek at our upcoming TSN Guide to RV and Boat Storage, releasing in March 2024. This first-ever guide is available free to Toy Storage Nation 2024 members.
Conducting a comprehensive RV and boat storage feasibility study requires input and expertise from various professionals. Each of these individuals plays a valuable and distinct role while creating a comprehensive feasibility study for your toy storage facility.
Real Estate Consultant
Engage a real estate consultant with expertise in the local market and experience in assessing the feasibility of storage projects. They can provide insights into property values, market trends and potential challenges.
Market Research Analyst
A market research analyst can help gather and analyze data related to the demand for RV storage in the area, demographic trends, and competitive landscape. This information is crucial for understanding the market dynamics.
Architect and Engineer
Collaborate with architects and engineers to assess the suitability of the chosen site for RV and boat storage. They can provide insights into zoning regulations, site development requirements and potential construction challenges.
Financial Analyst
A financial analyst can assist in developing detailed financial projections, including revenue estimates, expense forecasts, and return on investment calculations. They can also help assess the financial feasibility of the project.
Legal Advisor
Consult with a legal advisor to ensure compliance with local, state and federal regulations governing RV storage facilities. They can identify any legal obstacles, help with permitting and ensure that the project adheres to zoning laws.
Storage Industry Consultant
Seek advice from consultants or professionals specializing in the storage industry, particularly RV storage. They can provide insights into operational considerations, industry best practices and potential challenges specific to RV storage facilities. Direct ownership and investment in BRV facilities is a big plus. Select a consultant who has entitlement experience and knows how to navigate through municipal challenges.
Environmental Consultant
Depending on the location and the history of the site, an environmental consultant may be necessary to assess potential environmental risks or issues associated with the property.
Surveyor
A land surveyor can provide accurate information about the dimensions and topography of the site, which is essential for site planning and development. An ALTA survey is recommended, with specific Table “A” requirements. This will expedite the development process and help to control site development costs. Often times, an existing survey can be updated and provide a more cost-effective alternative to using a new surveyor.
Risk Management Specialist
Engage a professional who specializes in risk management to identify and assess potential risks associated with the RV storage project. This can include market risks, construction risks and operational risks.
Feasibility Study Consultant
Consider hiring a consultant or firm specializing in feasibility studies for storage projects. They can coordinate efforts across various disciplines and ensure a comprehensive analysis.
Collaborating with a multidisciplinary team of experts ensures that all aspects of the RV and boat storage feasibility study are thoroughly examined. Each professional brings a unique perspective and skill set to the process, contributing to a well-informed decision-making process for the development of successful toy storage site.
RK Kliebenstein has more than 40 years of self-storage experience and has assisted in creating thousands of storage feasibility studies to clients. His approach, slightly different from the feasibility study peer group, is to focus most heavily on financial projections, gathering and relying on good vehicle and vessel data. His opinion is that demographic data reliance isn’t enough. RK can be contacted at rk@askrk.com COM or (561) 797-2721.
Kick Start Your RV and Boat Storage Success
The nation’s biggest RV and boat storage workshop returns to Las Vegas, April 5, 2024. TSN’s “Best Practices for Executive RV & Boat Storage Facilities Workshop” is designed to give developers, operators and investors the knowledge, network and inspiration needed to supersede their expectations for success in this soaring industry.
Included on the agenda is a vital presentation by Jo Beth White of Development Services Inc., who will uncover the following:
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The where, when, and why for location selection
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Difference between destination or site-specific facility
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Types of facilities and amenities
