texas state storage business plan

32
Texas State Storage Business Plan Prepared for: Dr. Minifie Department of Management McCoy College of Business Texas State University 2 May 2016 Tyler Jaquess

Upload: tyler-jaquess

Post on 15-Jan-2017

224 views

Category:

Documents


3 download

TRANSCRIPT

Page 1: Texas State Storage Business Plan

Texas State Storage Business PlanPrepared for:

Dr. Minifie

Department of ManagementMcCoy College of Business

Texas State University2 May 2016

Tyler Jaquess

Page 2: Texas State Storage Business Plan

Table of Contents I. Executive Summary pg1

II. Problem pg2

III. Product/Service pg3

IV. Market/Industry Profile: Target Market pg4

V. Market/Industry Profile: Primary Research pg5

VI. Market/Industry Analysis: Industry Analysis pg6

VII. Competition pg7

VIII. Business Model: Client Acquisition pg8

IX. Business Model: Revenue Model pg9

X. Team/Employees pg10

XI. Financials

XII. References

XIII. Appendix

Page 3: Texas State Storage Business Plan

Executive Summary

This storage business plan describes a proposed self-storage facility to be established in San Marcos, Texas involving the buildout of a new facility costing roughly $700,000. Texas State Storage will be located at 905 Hugo Rd. San Marcos, Texas 78666. To get in contact with Texas State Storage call Hunter Tomlin at 361-392-0517 or Tyler Jaquess at 214-223-2537. Our business will operate as a partnership corporation, providing quality storage in Hays County. San Marcos is the fastest growing city in the nation with a 31% growth rate and continuing to rise. Therefore, Texas State Storage would like to supply college students, locals, new residents, businesses, and travelers a safe place to store their property.

Property can be stolen, lost, or overcrowded. Therefore, we have taken the liberty of creating Texas State Storage to provide the community of Hays County with a top notch, secure, and an easily accessible facility for their extra belongings.

Our Purpose: Texas State Storage will provide self-storage owners with professional management, consulting services, and a safe storage environment.Our Mission: Create and maintain successful relationships with our customers, team members and investors by delivering excellence in quality and service.Our Values: Leadership, Integrity, Communication, Teamwork, Excellence, Honesty, and Dedicationto the community of Hays County.

1

Page 4: Texas State Storage Business Plan

ProblemCurrent storage unit facilities are usually outdated and often infested with rodents. In addition, old storage facilities that have been around for a while close early and do not provide much access to your property. More than 80% of complaints from consumers to storage companies correlate with the issue of accessibility. More importantly, a huge issue with modern day storage companies is their lack of options and choices when deciding on a storage unit. We will have various sized units to fit your needs and likings. Many storage units are plain and do not have much organization to them. Here at Texas State Storage, we will provide shelving and cabinets to keep your items organized and off the ground. Keeping your items off the ground is beneficial because we have heard many complaints about mice and varmints in storage units. We will also have critter control come out once a month to ensure you that no annoying critters will be in your unit.

We realize storage units can be messy, unorganized, and can get dirty. We will have movers on hand that will help you move your belongings, organize your storage unit the way you desire, or clean up anything you want cleaned. We strive for our customers to do as little as possible while being completely satisfied with their unit.

2

Page 5: Texas State Storage Business Plan

Product

Texas State Storage will provide 46 quality storage units to Hays County. Half of the units or 23 of them will be climate controlled and the other half will be regular units. Units will range in size from 10x10, all the way up to 30x20. We will also provide our customers with an electronic security gate, security guards, a forklift, and moving helpers upon request. Our prices will be very competitive in the market. Our prices range from $49 to $119. Our customers are provided with the option of a one month, six month, and one year leases, with better incentives for the longer you lease. Many storage units are not easily accessible and are poor quality. Here at Texas State Storage we will have an easily accessible facility along with top of the line storage quality. Our units will have carpet, shelving, cabinets, and we will provide locks. In addition, we will have six total units for automobile or boat storage. We will ensure our customers amazing customer service and protection.

Texas State Storage will be open 24/7 with a secretary in the office from 7am to 10pm. We will have a website where our clients can go online to read more about our facility view our facility, pay rent, and ask questions. We believe in good customer service; therefore, any questions asked will get a response within 24 hours.

Our SIC code is 4225Our NAICS/ISIB code is 53113

3

Page 6: Texas State Storage Business Plan

Market/Industry Profile: Target Market

Texas State Storage will have a target market of students, businesses, locals, and visitors.

The way we will target students is by having our facility close to Texas State University. The price of our units are cheap, therefore students can afford them. We know that students go back home for the summer and need a place to store their belongings. We will have a discount offered to any student that shows their ID and proof of current enrollment.

Businesses always have extra items they need stored so that is where our bigger units will come in handy. They will be able to store their items in shelves and cabinets to ensure it is off the ground. It will be convenient for businesses being that our facility is located down town and we offer moving services to make sure all their time is spent on growing their business.

Locals will be able to use our services for extra space. We know how crowded an attic and house can get. We want the people of San Marcos to enjoy their homes while being able to have their things a few miles away. Locals love to float the river, canoe, and be outdoors. We can ensure them that they will have plenty of space in our units to store their canoes, tubes, ATV’s, seasonal clothes, etc.

San Marcos has many visitors visiting the river and lakes we have. We want to save visitors the trouble of hauling their boats and vehicles down from their residents. We will provide premium boat, ATV, and automobile storage for an affordable price for our visitors!

4

Page 7: Texas State Storage Business Plan

Market/Industry Profile: Primary Research

Our primary research was conducted by handing out 50 surveys to students, locals, visitors, and a few local businesses. Our results proved that the 90% of the community uses or has used storage units. We asked which company had the best storage units in San Marcos and the results proved scattered among three different businesses. That proves to be beneficial for Texas State Storage being that people would be willing to try a new facility with a better product and price. The majority of our respondents proved that they would pay movers to help them move, organize, and clean their units. Therefore, we will provide them with a moving, cleaning, and organizing service.

Our surveys showed that 85% of respondents wished their units had carpet, shelving, and/or cabinets. We believe that by providing these accessories to our units it will ensure us that our facility is occupied. In addition, the ages of storage users ranged from 18 to 85 years of age. Our results yielded consistent responses that users prefer the facility to be within 10 minutes from there residency. In addition, the survey results showed that most users did not like how most facilities closed early and had poor customer service. We will take great pride in giving our customers the best service at all times.

Our survey indicated that 35% of storage users were dissatisfied with their current storage facility in San Marcos.

5

Facility Ranking

AAA Self Storage 1

Uncle Bob’s Self Storage 2

123 Self Storage 3

Page 8: Texas State Storage Business Plan

Market/Industry Profile: Industry Analysis

The current size of the market consists of about 16,000 establishments with about $8 billion in annual revenue. Projections show the storage industry will increase to $30 billion in annual revenue by 2019, which is a substantial increase. This graph represents the average annual revenue growth projection between years 2015 and 2019.

Our storage company will be entering the market during the growth stage of the service life cycle. During the growth stage, your business is not a child anymore and is now an adult. Profits do begin to rise, but competition also begins to surface and reduce potential customers.

The industry trends regarding technology are computer-controlled access systems, key pads, camera surveillance systems, fingerprint scanning, DVRs, and proprietary software. Products include self-storage, automobile, RV, and boat storage. Demand shifts depend on location and seasonality. The market does not appeal to a certain group, it appeals to the public as a whole.

5

2015 2016 2017 2018 20190

5

10

15

20

25

30

35

8

14

19.2

24.7

30

Annual Revenue Growth

Years Linear (Years)

Years

Rev

enu

e in

Mill

ion

s

Page 9: Texas State Storage Business Plan

Competition: Direct Competitors

There are two major direct competitors in the self-storage industry that we have to analyze and differentiate ourselves from such as; Uncle Bob’s Self Storage and 123 Storage. Through surveys, we have discovered that people are most likely to drive approximately 7 to 9 miles for storage.

Uncle Bob’s Self Storage: Uncle Bob’s is very helpful, has a clean facility, and has great people. The storage units are well kept and the people are very friendly. The only downside to Uncle Bob’s Self-Storage facility is the prices are incredibly high prices. The unit sizes they provide are tiny compared to ours. Their largest unit (5x7) is $75.00/month compared to our smallest unit (10x10) which is $49.99/month to lease.

123 Storage: 123 Storage is a strong direct competitor that offers a wide range of storage unit sizes, but their weakness is the quality of the units. We offer storage units that have built-in shelves and cabinets, which gives us a competitive advantage.

Indirect Competitors

AAA Storage: This business is an indirect competitor, because they offer a wide array of other services such as; moving trucks, trailer and towing, and indoor/outdoor storage units. The downside of this company is that they offer so many different services instead of focusing on one specific area. This gives good consumer choice but not exceptional quality.

5

Page 10: Texas State Storage Business Plan

Business Model: Client Acquisition

Texas State Storage’s target market are individuals that reside in the San Marcos area that are between the ages of 18 to 70 years of age. We attempt to focus mainly on individuals with an average disposable income ranging from $25,000-$100,000, but college students are a primary concentration as well. Marketing strategies will target Hispanic and White males or females since they make up 90.5% of the population in San Marcos, Texas.

Since social media is rapidly increasing with popularity, we will create a Facebook page that the head secretary will manage. This page will consist of; our unit sizes, availability, accessibility, appointment information, general information, and other storage features and discounts. To better or marketing and branding strategies, we will have provide various coupons in the Texas State University College Coupons Book for students to get additional discounts. You can find these coupons in local bookstores, restaurants, and at Texas State University.

8

Page 11: Texas State Storage Business Plan

Business Model: Revenue Model

The Texas State Storage team has considered all cost factors related to the development of our storage facility. We have chosen three pricing models to base our business off; commercial and retail, subscription and usage fees, and auction and bids.

Sales Projections

Current storage unit facilities have a few thousand units available, but we will get our competitive edge from the quality of our forty-six storage units. For example, our regular 10x10 units cost $49.99/month compared to the average price in the U.S., which is $80.00 to $100.00/month to lease. These numbers demonstrate high margins consisting of a 50% to a 62.5% discount rate when leasing with Texas State Storage.

Incentives

1. If you sign a 12-month lease, you will get two additional months for free.2. If you sign a 6-month lease, you will receive an additional month free of charge.3. In addition, one of the best features that Texas State Storage will offer is the 10% discount a customer will receive upon presenting a

valid copy of his/her Texas State University identification card.

9

Page 12: Texas State Storage Business Plan

Texas State Storage Team

Texas State Storage operating hours are twenty-four hours a day, seven days a week. Positions will consist of; two General Managers, four secretaries, and four security guards. The shifts will be either 12-hour shifts or 6-hour shifts depending on the individual’s schedule.

General Managers: Delegate and run the business according to what the vision and mission of the company is. They will be paid $20.00/hour and are responsible for training any new employees.

Secretaries: Take calls, book appointments, take walk-ins, co-sign for leases and set them up, have basic accounting knowledge, make monetary transactions. Each secretary will be paid $9.00/hour and should expect to work long shifts. One of the secretaries will be the head secretary and will make $12.00/hour.

Security Guards: Monitor and protect the premise from theft. The security guards will be paid $10.00/hour and will be responsible for dealing with any; theft, loitering or trespassing issues.

10

Page 13: Texas State Storage Business Plan

Financials: Balance Sheet

Year 1 Year 2 Year 3

Assets Assets AssetsCash $100,000 Cash $464,050 Cash $525,350A/R A/R A/RInventory $0 Inventory $0 Inventory $0Equipment Equipment Equipment

Equipment $0 Equipment $0 Equipment $0Less: Depr $0 Less: Depr $0 Less: Depr $0Net Equipment $0 Net

Equipment$0 Net

Equipment$0

Building Building BuildingCost $600,00

0Cost $600,00

0Cost $600,00

0Less: Depr -$5,000 Less: Depr -$5,000 Less: Depr -$5,000Net Building $605,000 Net Building $605,000 Net Building $605,000

Total Assets $705,000

Total Assets $1,059,050

Total Assets $1,130,350

Liabilities Liabilities LiabilitiesA/P A/P A/PLoan $600,000 Loan $598,450 Loan $597,900

Principal $500 Principal $500 Principal $500Less:

Payment$50 Less:

Payment$50 Less:

Payment$50

Loan Balance

$598,450 Loan Balance $597,900 Loan Balance

$597,350

Total Liabilities

$598,450 Total Liabilities $597,900 Total Liabilities $597,350

Retained Earnings Retained Earnings

Retained Earnings

Owner's $0 Owner's Equity $0 Owner's Equity $0

Page 14: Texas State Storage Business Plan

EquityIncome $0 Income $0 Income $0Total RE $0 Total RE $0 Total RE $0

Total Liab. & RE $598,450

Total Liab. & RE $597,900 Total Liab. & RE $597,350

Financials: Income Statement Years (2017-2019)

Year One Year Two Year Three

Income StatementSales $365,500.00 Sales $357,500.00 Sales $367,500.00Less: COGS $0.00 Less: COGS $0.00 Less: COGS $0.00

Net Sales $365,500.00 Net Sales $357,500.00 Net Sales $367,500.00

Expenses: Expenses: Expenses:Supplies -$600,000.00 Supplies -$210,350.00 Supplies -$153,535.00Taxes -$39,000.00 Taxes -$37,000.00 Taxes -$42,000.00Depreciation $0.00 Depreciatio

n$0.00 Depreciation $0.00

Interest -$2,500.00 Interest -$2,500.00 Interest -$3,000.00Total Expenses -$641,500.00 Total Expenses -$249,850.00 Total Expenses $198,535.00

Page 15: Texas State Storage Business Plan

Net Income -$274,050.00 Net Income $107,650.00 Net Income $168,965.00

Financials: Cash Flow Statements Years (2017-2019)CASH FLOW July August September October November December January February March April May JuneOPENING BALANCE   $42,720 $58,590 $75,035 $88,760 $110,005 $130,375 $153,045 $175,270 $182,765 $194,310 $204,180Cash incoming                        

Sales $23,000 $26,500 $27,000 $24,000 $31,500 $31,000 $33,000 $33,500 $34,500 $35,000 $33,000 $33,500Asset sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Debtor receipts (Loan) $600,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Other income (personal equity) $100,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total incoming $723,000 $26,500 $27,000 $24,000 $31,500 $31,000 $33,000 $33,500 $34,500 $35,000 $33,000 $33,500

Cash outgoing                        

Purchases (Building Materials) $600,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Accountant fees $0 $0 $0 $0 $0 $0 $0 $0 $1,000 $0 $0 $0Solicitor fees $0 $0 $0 $0 $0 $0 $0 $0 $2,500 $0 $0 $0Advertising & marketing $4,500 $1,400 $1,200 $1,000 $1,100 $1,350 $900 $1,650 $950 $1,000 $800 $450Loan Principal $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500Interest paid $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50Credit card fees $1,200 $750 $900 $845 $750 $1,000 $1,200 $1,250 $1,100 $975 $800 $775Utilities (electricity, gas, water) $1,100 $1,000 $975 $950 $925 $800 $750 $895 $975 $1,000 $1,050 $1,180Telephone $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20Lease/loan payments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Rent & rates (land from dad) $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500Motor vehicle expenses $20,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Repairs & maintenance $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200Stationery & printing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Membership & affiliation fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Asbestos Treatment $30,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Page 16: Texas State Storage Business Plan

Insurance (Theft) $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150Superannuation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Income tax $0 $0 $0 $0 $0 $0 $0 $0 $13,000 $13,000 $13,000 $0Wages (including PAYG) $3,060 $3,060 $3,060 $3,060 $3,060 $3,060 $3,060 $3,060 $3,060 $3,060 $3,060 $3,060Security System/Gate $16,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total outgoing $680,280 $10,630 $10,555 $10,275 $10,255 $10,630 $10,330 $11,275 $27,005 $23,455 $23,130 $9,885

                         Monthly cash balance $42,720 $15,870 $16,445 $13,725 $21,245 $20,370 $22,670 $22,225 $7,495 $11,545 $9,870 $23,615

CLOSING BALANCE $42,720 $58,590 $75,035 $88,760 $110,005 $130,375 $153,045 $175,270 $182,765 $194,310 $204,180 $227,795

Page 17: Texas State Storage Business Plan

CASH FLOW July August September October November December January February March April May JuneOPENING BALANCE $227,795 $244,455 $261,565 $280,175 $299,835 $317,070 $338,680 $359,325 $377,885 $378,445 $381,455 $389,440Cash incoming                        

Sales $28,000 $28,500 $29,000 $30,000 $27,500 $32,000 $31,000 $29,000 $30,000 $28,000 $33,000 $31,500Asset sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Debtor receipts $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Other income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total incoming $28,000 $28,500 $29,000 $30,000 $27,500 $32,000 $31,000 $29,000 $30,000 $28,000 $33,000 $31,500

Cash outgoing                        

Purchases (Stock etc) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Accountant fees $0 $0 $0 $0 $0 $0 $0 $0 $1,600 $0 $0 $0Solicitor fees $0 $0 $0 $0 $0 $0 $0 $0 $2,850 $0 $0 $0Advertising & marketing $1,200 $1,400 $900 $850 $1,000 $1,050 $1,175 $950 $1,300 $1,200 $1,100 $1,150Loan Principal $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500Interest paid $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50Credit card fees $1,300 $1,200 $850 $950 $775 $875 $740 $1,100 $1,200 $1,250 $1,175 $1,000Utilities (electricity, gas, water) $1,300 $1,250 $1,100 $1,000 $950 $925 $900 $850 $950 $1,000 $1,200 $1,350Telephone $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20Lease/loan payments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Rent & rates (land from dad) $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500Motor vehicle expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Repairs & maintenance $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200Stationery & printing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Membership & affiliation fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Licensing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Insurance (Theft) $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150Superannuation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Income tax $0 $0 $0 $0 $0 $0 $0 $0 $14,000 $14,000 $14,000 $0Wages (including PAYG) $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120More… $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total outgoing $11,340 $11,390 $10,390 $10,340 $10,265 $10,390 $10,355 $10,440 $29,440 $24,990 $25,015 $11,040

                         Monthly cash balance $16,660 $17,110 $18,610 $19,660 $17,235 $21,610 $20,645 $18,560 $560 $3,010 $7,985 $20,460

CLOSING BALANCE $244,455 $261,565 $280,175 $299,835 $317,070 $338,680 $359,325 $377,885 $378,445 $381,455 $389,440 $409,900

Page 18: Texas State Storage Business Plan

References

CASH FLOW July August September October November December January February March April May June

OPENING BALANCE $409,900 $395,104 $409,964 $425,694 $444,374 $464,289 $483,149 $498,949 $515,684 $531,904 $547,139 $561,909

Cash incoming                        

Sales $27,500 $28,500 $29,000 $32,000 $33,000 $32,000 $29,000 $30,000 $34,500 $28,500 $27,000 $26,500

Asset sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Debtor receipts $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total incoming $27,500 $28,500 $29,000 $32,000 $33,000 $32,000 $29,000 $30,000 $34,500 $28,500 $28,000 $29,000

Cash outgoing                        

Purchases (Stock etc) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Accountant fees $0 $0 $0 $0 $0 $0 $0 $0 $1,800 $0 $0 $0

Solicitor fees $0 $0 $0 $0 $0 $0 $0 $0 $3,000 $0 $0 $0

Advertising & marketing $1,500 $1,550 $1,200 $1,250 $1,000 $1,050 $1,100 $1,175 $1,400 $1,200 $1,150 $1,300

Loan Principal $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500

Interest paid $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50

Credit card fees $800 $750 $975 $885 $900 $1,050 $950 $850 $900 $600 $540 $890

Utilities (electricity, gas, water) $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000

Telephone $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20

Lease/loan payments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Rent & rates(land from dad) $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500

Motor vehicle expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Repairs & maintenance $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200

Stationery & printing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Membership & affiliation fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Licensing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Insurance (Theft) $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150

Superannuation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Income tax $0 $0 $0 $0 $0 $0 $0 $0 $16,000 $16,000 $16,000 $0

Wages (including PAYG) $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200

More… $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total outgoing $10,920 $10,920 $10,795 $10,755 $10,520 $10,720 $10,670 $10,645 $31,720 $26,420 $26,310 $10,810

                         Monthly cash balance $16,580 $17,580 $18,205 $21,245 $22,480 $21,280 $18,330 $19,355 $2,780 $2,080 $1,690 $18,190

CLOSING BALANCE $426,480 $412,684 $428,169 $446,939 $466,854 $485,569 $501,479 $518,304 $518,464 $533,984 $548,829 $580,099

Page 19: Texas State Storage Business Plan

Research

"The Growth of Self Storage: Market for Improved Visibility." Self-Storage Web Design & Management Software. N.p., n.d. Web. 02 May 2016.

"Self-Storage Still Attractive, but Good Deals Will Be Harder to Find in 2015." Self-Storage Still Attractive, but Good Deals Will Be Harder to Find in 2015. N.p., n.d. Web. 02 May 2016.

"Self-storage Industry Statistics." The Spare Foot Storage Beat. N.p., 26 May 2015. Web. 02 May 2016.

"Feasibility Studies and Site Selection | Learn Self Storage." Learn Self-Storage. N.p., 06 July 2014. Web. 02 May 2016.

Photos

"Self-Storage Service | AAA Self Storage in El Paso, TX." AAA Self Storage. N.p., n.d. Web. 02 May 2016.

"123 Storage San Marcos." 123 Storage San Marcos. N.p., n.d. Web. 02 May 2016.

"College Coupons - Coupon Business Directory - Coupon Advertising Resources for Coupon Media Professionals, Designers and Publishers." College Coupons - Coupon Business Directory - Coupon Advertising Resources for Coupon Media Professionals, Designers and Publishers. N.p., n.d. Web. 02 May 2016.

”Sovran Self Storage." Brands of the World™. N.p., n.d. Web. 02 May 2016.

"Self-Storage Units." Champlain Valley Self Storage RSS. N.p., 19 Sept. 2012. Web. 02 May 2016.

Page 20: Texas State Storage Business Plan

Appendix

Documents available upon request:

1. Complete list of all financials2. Primary research3. Resumes of staff4. Pricing data5. Market analysis6. Logo7. Legal terms8. Target market 9. Competitor analysis10. Revenue model11. Business model12. Financial overview13. Map of business location14. Management guideline15. Survey results16. References