What is a boat and RV storage feasibility study?

A boat and RV storage feasibility study is an analysis of a particular market to determine if there is sufficient unmet demand to support additional boat and RV storage supply.

If there is sufficient demand, the analyst recommends the most profitable type of facility to build by researching the location and potential self-storage customers that live there. A good study uses current data to project the facility’s operating budget and realistic financial model and the marketing tactics it will take to achieve the projections.

Demand drivers for boat and RV storage include:

  • Type and amount of current supply

  • Rental rate trajectories of boat and RV storage units

  • New boat and RV storage supply poised to enter the market

  • Facilities that have just opened are still in lease-up

  • Consumer demographic and psychographic profiles

  • Structural changes in demand including economy changes in the trade area, changes in the boat and RV industries, changes in parking regulations and restrictions on new development by local municipalities

  • Community associations (homeowner’s associations)

  • Tourism in the trade area

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