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Executive Summary

We at Compact Self Storage provide a wide range of facilities and services to meet all of your storage requirements. Florida City is the entrance to the Florida Keys and is a great place to start various experiences. To assist you in entirely using your outdoor chances, we provide a variety of storage alternatives. Key Largo, Ocean Reef, and other nearby areas may use us as a handy storage alternative if they are in the Florida Keys region. There is no question that self-storage facilities are a considerable aid to both homes and enterprises, whether for commercial purposes or remodeling, moving out, storing a loved one’s things, or other reasons.

Problem Summary: When you clean out your house, you’ll discover many items you should discard and those you still want to retain. But once again, the issue is that you don’t have enough storage capacity for all of them.

Solution Summary: For consumers who want to free up space while still keeping the items, they do not want to throw away, renting a self-storage facility seems like a decent idea. As additional storage space, storage containers prevent such clutter from accumulating in your house. We are responsible for keeping you and your possessions safe while on the site. Because you are family while you shop with us, you must protect your family from harm.

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Industry Overview: 

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The global self-storage market had a value of USD 48.02 billion in 2020 and is projected to grow at a CAGR of 5.45% from 2021 to 2026 to reach USD 64.71 billion. Due to trends of rising urbanization and improving economic outlook in all areas, the growth in this sector is anticipated to be favorable throughout the projection period. These elements have stimulated the development of new companies. In addition, COVID-19 has influenced several company owners to choose self-storage. To avoid paying rent on spaces, working from home for most of 2020 increased demand for self-storage. The need for office rents is dwindling as more businesses opt to switch to a remote work model permanently. Self-storage is often chosen, particularly in major Asian cities where renting office space may be expensive.

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Financial Forecast:

Business Description

Business Name: Compact Self Storage

Owner/Chief Executive Officer:  Joseph Boyle Jr.

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Management Team:

NameDesignation
Tom VitanGeneral Manager
Natalia BrownFinance Manager
Megan JonesSales/Marketing Manager
Enrico CollinsFacility Manager

Legal Structure:  LLC

Location: Our cutting-edge facility conveniently situated less than a mile west of the turnpike and two miles west of the Homestead Speedway, proudly serves companies, residents, snowbirds, and tourists in the greater Homestead region. On Krome Avenue, next to the Pioneer Museum and Capri Restaurant, is where you can locate our facilities.

Mission: To provide a secure environment for the things you treasure, build long-term value and operate an exceptional self-storage company through personal care, integrity, and hard work.

Vision: To be the first to be remembered and the trendsetter and game-changer of the personal and business storage industry.

Services: The North Shore neighborhood will be served by Compact Self Storage’s short- and long-term self-storage services. In addition to having a wealth of moving industry contacts, the firm founders also have a great deal of expertise in the storage industry. Self-storage spaces at Compact Self Storage will be available for rent by homeowners and small-business owners, and they will be around 45,000 square feet in size.

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Financial Overview

Fund Usage

Key Metrics
2023F2024F2025F
Earnings
Revenue$8M$23M$38M
Gross Profit$5M$14M$23M
Gross Margin60%59%59%
EBIT$2M$7M$12M
EBIT Margin25%31%32%
Liquidity
Current Ratio566
Cash Ratio455
Others
Average CAC$18$20$22
Inventory Turnover111111

SWOT ANALYSIS

STRENGTHWEAKNESSOPPORTUNITYTHREAT
  The fact that Compact Self Storage is strategically situated in a heavily populated, residential region of Florida is undoubtedly a strength for the company.   Our location and a high degree of security are our main strengths. We also have a staff that will go above and beyond to provide our customers value for their money; a team that has been taught and given the necessary tools to pay close attention to detail and provide top-notch services.   Lastly, our rental package is among the most cost-effective and economical that someone residing in Florida can find.  Our inexperience as a company and the possibility that we lack the financial means to compete with established self-storage and warehouse facility rental firms to acquire extensive facilities in desirable locations are both disadvantages.  We are well situated in one of Florida’s busiest and most crowded locations, and we are open to all the potential opportunities the city offers.   We shall be available twenty-four hours a day on the weekends (Friday through Sunday) and from seven in the morning until midnight on Monday through Thursday, providing us the advantage to take advantage of any chance that may arise.    Unfavorable government policies, the weakening of the economy, which is likely to have an impact on consumer spending, and finally, the emergence of new competitors in the area where our self-storage and warehouse facility is located are some of the threats that Compact Self Storage will likely face.