Domestic & Commercial Self Storage Facility For Sale

Business description

Established in 2001 this business consists of a leased warehouse that has been fitted out on with varying sized storage rooms, providing convenient, flexible and hassle free storage for the local domestic and commercial market. Clean, dry and secure with easy access twenty four hours a day, 365 days per week, 186 units are available in all with 86 of those being located in the yard area. The average container size is circa one hundred and sixty square feet with larger container units being available outside. There is ample car parking to the front and side of the unit that ensures easy access for loading and unloading. There is a fork-lift on hand for larger items.

The length of each customer's stay varies with some having occupied their units long-term whilst others come and go on a short-term basis. The minimum period available is two weeks and all customers are required to give two week’s notice of their intention to vacate their unit.

This unit is located on a small business park just a few minutes drive from the centre of one of Worcestershire’s busiest commercial centres.

With very little advertising aside from entries into the local Yellow Pages and the occasional local press advert, this business is frequently at capacity for all the space that is available. With consistent turnover in the region of £190,000, generating gross profits of £188,000 this is an excellent opportunity to acquire a consistently performing, easy to run business in a geographical area demonstrating a high level of demand for its services and should appeal particularly to another self storage business operator looking to extend their presence in the sector, a local removal company or to a couple or family looking to run their own business.

Key strengths:

This business is ideally located, situated on a small business park just a few minutes drive from the centre of town. There is very little competition for the service this business offers within a ten-mile radius. With competitive pricing, demand for the service offered by this business is strong, as demonstrated by the fact this business operates at 94% capacity – with some customers, from both the domestic and commercial sectors having been with the business since opening in 2001.

This is a very easy to manage, low maintenance business. Customers have keys to their own units and are responsible for locking up when they leave. Only one member of staff is required at any one time – mainly to show the facilities to new customers, sign them up, assist existing customers with their queries and sell the various packing materials that are also available. Customer access is limited to day-time hours, and not on a Sunday – although twenty four hour access can be arranged for regular Clients as required.

Key opportunities:
This is an outstanding opportunity to build on the existing business levels and customer base of this company. With a strong demand for this business's service, combined with a capacity to increase the space available by adding more containers to those currently situated in the yard, a new owner contributing fresh ideas will have every advantage of building on an excellent platform.
This business maintains an extensive base of satisfied customers, who appreciate the company's top quality, friendly and personal service. There are several avenues for growth, especially with investment in marketing including advertising to increase the sales of packaging materials. But perhaps the greatest opportunity lies with the development of a chargeable collections and deliveries service – something which the business is constantly asked to provide.

Financial information:
The business is offered for sale as a going concern. All financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
The business is financially stable with no borrowings, low overheads, good cash flow, and has shown a consistent financial performance in recent years.

Property information

Property:

Leasehold

Lease terms:

The premises are leased with twenty years remaining. Rent is £44,000 per annum with Rates approximately £20,000 per annum.

Location:

The business is located on an easily accessible small business park near the centre of this very busy Worcestershire town with a population of approximately 100,000 and operates from a warehouse available for storage including toilet facilities and the reception area.
The premises are leased with twenty years remaining. Rent is £44,000 per annum with Rates approximately £20,000 per annum.

Other information

Expansion potential:

The current market for this business's service is fast growing and is forecast in the near and longer term for significant growth. The business is well positioned to take maximum advantage of this growth as it occurs.

Competition / Market:

Well established, benefiting from high levels of awareness from local users and frequently operating at or very close to capacity, the business has little need of extensive investment in marketing and advertising. What advertising the business undertakes is limited to Yellow Pages entries, yell.com and the occasional small display ads placed in the free local newspaper. The business also has a very effective, well designed and informative website that performs very well in all the major search engines for all appropriate search terms. A high proportion of the business's revenue has also been due to its excellent reputation for quality of service and strong word of mouth recommendation.

Support & training:

The current Owners would provide full business familiarisation, training and handover to ensure continuity of training, however this is a very easy to manage business and it is envisaged that this will only be a short term requirement.

Reasons for selling:

One of the Owners – the one most involved in the day-to-day operation of the business wishes to return to France.