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Florida-based Compact Self Storage was founded and led by Joseph Boyle Jr. He earned a Bachelor of Science and a Master’s degree at  Eastern New Mexico University. Mr. Boyle has been a prominent real estate developer in Florida and has a long record of successful ventures. He is a Florida-based venture capitalist with a variety of holdings.

Management Team


General Manager 

Compact Self Storage’s general manager is Tom Vitan. For this firm, he works with individuals from all different backgrounds. His competence areas include commercial operations, management, and start-up company growth.


Finance Manager

Being aware that her efforts may favor Compact Self Storage’s bottom line motivates Natalia Brown, a finance management professional, to keep working hard every day.


Sales/Marketing Manager

Megan Jones is a highly driven sales expert who offers technical and marketing solutions to organizations and people. She also has experience providing high-quality customer service. Her most vital personal qualities are organization and communication.


Facility Manager

Enrico Collins is in charge of managing operations for a business that rents out storage space. He is accountable for maintaining the efficiency of the storage units’ cleanliness and security measures. Along with collecting payments on-site, he does administrative duties, including organizing customer documents and bills.


Operational Overview

Compact Self Storage anticipates renting 70% of its available units to non-commercial tenants and the remaining 30% to the market’s business sector, mirroring the split experienced by management’s other storage facilities. Compact Self Storage will construct and make 300 self-storage units of different sizes available in a prime location in Florida. According to a review of all self-storage facilities that are conveniently located for residents of Florida, the current supply of these units is inadequate to fulfill the demand. These existing condos are selling for more than double the national average.

Industry Analysis

Industry Overview

Over the 2021–2026 forecast period, the self-storage market in the United States is anticipated to see a CAGR of 2.02%. Even though the COVID-19 pandemic has disrupted several sectors, specific company models continue to provide opportunities for investors throughout the recession. They are predicted to do well once the economy starts to recover.

Self-storage is one of the market’s most robust asset classes, partly because of the growing demand for storage space and the appealing operational fundamentals of the industry. The industry has expanded in recent years. The US Census Bureau reports that building investment in self-storage facilities surged by 584% between January 2015 and January 2020,

The epidemic and its effects have also led to a rise in demand. Increased household penetration, rapid population expansion in the US, and the industry’s stability compared to other asset classes are all benefits of the self-storage business. As states relax some of their COVID-19 rules, the self-storage industry is rising again.

Key Highlights

A division of the commercial real estate is the self-storage sector. Because of regional trends toward growing urbanization and improving economic outlooks, which have fueled the expansion of new businesses, the industry is anticipated to expand favorably throughout the projection period. Self-storage facilities are commonly accessible in developed countries like the US and Western Europe, but they are still relatively new in Asian markets like China and India.

The US self-storage market is projected to have tremendous development opportunities as the e-commerce industry continues to expand and specialty service needs, such as those for climate-controlled spaces and specialized facilities for sporting goods, spread throughout the nation.

Major corporations with locations in the United States are also included. The existence of businesses like Public Storage, Extraspace Storage Inc., and U-Haul, among others, demonstrates the considerable boost this provides to market growth. Self-storage facility demand is driven by structural shifts in the retail and office sectors of the economy. The goal is to create a place out of abandoned or failed retail buildings. Such initiatives are among the most current tendencies to help the nation’s market grow. Some new companies find it challenging to join the market due to entry hurdles from the established ones due to well-established businesses throughout the country, including Public Storage, Extra Space Storage, and U-Haul.

Key Market Trends

One of the key elements promoting market expansion is the world’s increasing urbanization. More people living in cities means smaller, more costly housing options and an increase in renters who move around more often.

People have less room for their stuff when they relocate to urban living quarters. The storage business is also heavily influenced by people downsizing to smaller houses everywhere. The population is being forced to live in increasingly densely populated cities because rural opportunities are dwindling due to business consolidation, where the examined market addresses the fundamental issue of space allocation. By keeping stuff that one does not have room for at home, self-storage provides a practical and affordable solution to free up space.

Market Size

Competitive Landscape

The existence of several significant businesses in the area, like Public Storage and U-Haul International Inc., among others, has increased the level of competition in the US self-storage sector. Their capacity to continuously reinvent their products has given them a competitive edge over rivals. These firms have contributed significantly to the market’s expansion via mergers and acquisitions, strategic collaborations, and research and development.

Choosing where to rent a self-storage unit is most often influenced by convenience. Hicksville and Huntington, for instance, don’t have any self-storage facilities. People decide to rent one in a neighboring town, perhaps due to its closeness to the renter’s commuter route. Renters will go farther out if no flats are close. If no elevator is accessible, units on the ground level are preferred.

Key Players:

Public Storage. A free-size guide from Public Storage can help you rent the precise amount of space needed for your storage requirements. Public Storage has hundreds of locations worldwide (and the US’s square feet of rental space). They have been in business for over 40 years, giving them plenty of time to determine precisely what customers want from self-storage, including delicious sign-on offers like $1 deals on your first month of renting a storage space.

Extra Space Storage. In terms of scale, Extra Space Storage is the second-largest self-storage company, behind only Public Storage in terms of available space and rental rates. More than 1,700 storage facilities are located throughout the United States, and they include several security features that help explain in part why Extra Space Storage has become such a pillar of the business. These precautions include controlled access entrance gates, video monitoring, and on-site supervisors to keep your belongings as secure as possible.

U-Haul. Moving truck rentals are simply one aspect of U-Haul. Self-storage facilities may be found throughout the United States and Canada, among the many storage choices provided by the industry behemoth. In terms of U-Haul, everything you can imagine can be stored. There are specialized climate-controlled self-storage alternatives available for commodities like wine and art and large items like RVs, yachts, and automobiles.

Marketing Plan

Compact Self Storage will concurrently advertise its services to the two main client segments—residential and small business customers—since the demand for local self-storage services far exceeds the local supply. As a result of the restricted service breadth, it can provide to such clients at the current facilities. The firm will not pursue a sizable business area.

According to the market data, local self-storage charges are far higher than the national norms. Compact Self Storage will promote itself as a high-quality, reasonably priced self-storage facility for both consumer categories.

Marketing Budget

Total budget for projected years:

The following graphs indicate budget allocation across projected years:

Marketing Channels

Social Media: Both Facebook and Instagram are on our list of preferred social media sites. First, we’ll advertise our content and specials to get new followers. We will combine the two when we reach a particular number of organic and paid followers. Over time, increased competition will drive up the channel’s CAC.

Google Ads: Brand awareness increased income, and preliminary content quality testing may all benefit from using Google Ads. Even though there won’t be many visits at first, we can use Google Analytics data to determine how our target market responds. It will allow us to gauge how well our articles are received. The channel’s CAC will rise over time due to increasing levels of competition.

Email Marketing: Due to the limited size of our email list and the absence of launch-phase content on our website, our first allocation for email marketing will be minimal. Our attention will shift to email marketing in the second year. Because increased competition has minimal effect, the CAC for this channel is expected to stay relatively constant over time.

In-person Marketing: Marketing professionals will go door-to-door, visiting companies, event planners, and other vital sites to raise awareness among stakeholders. Since we need to raise awareness via word of mouth, we will first devote a higher budget to this channel. Keeping the lines open with key influencers beyond that first point of contact, you can steadily drive down this channel’s customer acquisition cost (CAC).

Event Sponsorship: We may directly approach the event’s organizers or plan our activities under the sponsorship umbrella. In conjunction with these activities, we will be able to distribute promotional coupons and use other marketing strategies to increase brand recognition and sales.

Content Marketing: This includes producing content like blog posts, videos, responses to queries on Quora, social media updates, etc. We’ll do some research to find the right keywords to write about topics that get a lot of traffic but aren’t too challenging. The CAC for this channel is expected to rise over time due to intensifying competition.





Cost of Goods Sold

Operating Cost

Cash Flow Statement2023F2024F2025F
Cash Flow from Operating Activities
Salaries payables$14,750$16,000$19,400
Total payables$14,750$16,000$19,400
change in payables$14,750$1,250$3,400
Revenue related receivables$46,688$79,064$99,960
Total receivables$46,688$79,064$99,960
change in receivables-$46,688-$32,376-$20,896
COGS inventory$56,725$96,102$121,502
Total inventory$56,725$96,102$121,502
change in inventory-$56,725-$39,377-$25,399
Net cash flow from operating activities-$112,134$50,259$123,877
Cash Flow from Investing Activities
Web Development$15,000$10,136$9,617
Net cash flow from investing activities-$50,000-$67,573-$64,110
Cash Flow from Financing Activities
Net cash flow from financing activities$500,000
Net (decrease)/ increase in cash/ cash equivalents$337,866-$17,315$59,767
Cash and cash equivalents at the beginning of the year$0$337,866$320,551
Cash & cash equivalents at the end of the year$337,866$320,551$380,318
Balance Sheet2023F2024F2025F
Non- Current Assets
Web Development$15,000$25,136$34,753
Total non- current assets$50,000$117,573$181,683
Accumulated Depreciation-$2,000-$5,351-$9,985
Net non- current assets$48,000$112,222$171,698
Current Assets
Total current- assets$441,279$495,717$601,780
Total assets$489,279$607,939$773,478
Accounts payable$14,750$16,000$19,400
Total liabilities$14,750$16,000$19,400
Retained earnings-$25,471$91,939$254,078
Total equity$474,529$591,939$754,078
Total liabilities & equities$489,279$607,939$773,478
Management & Operations
Head of HR$0$0$0
Marketing & Sales
Marketing Manager$15,000$30,000$30,000
Regional Representative$108,000$108,000$108,000
Online Store Manager$12,000$12,000$12,000
Digital Marketer$0$0$19,200
Finance & Accounting
Bookkeeping Personnel$18,000$18,000$18,000
Audit Personnel$0$0$0
Total Salaries$177,000$192,000$232,800
Non- Current Asset Schedule2023F2024F2025F
accumulated DepreciationNANANA
Net book value$25,000$75,680$126,147
Web Development$15,000$25,136$35,229
accumulated DepreciationNANANA
Net book value$15,000$25,136$35,229
accumulated Depreciation$2,000$5,351$10,049
Net book value$8,000$11,406$13,438
Total Net book value$48,000$112,222$174,814
Total Depreciation$2,000$3,351$4,697
Total Accumulated Depreciation$2,000$5,351$10,049


Investment Assumptions2023F2024F2025F
Equity Injection$500,000
Total Capital$500,000
% of initial equity5%
% of last year’s ending cash balance15%15%
Web Development$15,000$10,136$9,617
% of initial equity3%
% of last year’s ending cash balance3%3%
% of initial equity2%
% of last year’s ending cash balance2%2%
Working capital$450,000$270,293$256,441
% of initial equity90%
% of last year’s ending cash balance80%80%
No. of Sales Assumptions2023F2024F2025F
Total Promotional Budget$135,000$175,690$217,975
as % of working capital30%65%85%
In- person Marketing
proportion of total budget35%25%15%
No. of Sales1,8904,3924,671
Event Sponsorship
proportion of total budget10%12%13%
No. of Sales540703810
Content Marketing
proportion of total budget13%15%20%
No. of Sales1,1701,3181,744
Social Media
proportion of total budget15%15%15%
No. of Sales1,3501,7572,180
Google Ads
proportion of total budget5%13%15%
No. of Sales225653817
Email Marketing
proportion of total budget7%10%12%
No. of Sales9451,7572,616
Affiliate Marketing
proportion of total budget15%10%10%
No. of Sales1,350878872
Revenue Assumptions2023F2024F2025F
Light Knee Pad for Women
% of total sales100%50%50%
No. of sales7,4705,7296,855
unit price$75$75$75
Aggressive Knee Pad with Shin Guard for Women
% of total sales0%25%25%
No. of sales02,8643,427
unit price$65$65$65
Spine Protector for Women
% of total sales0%25%25%
No. of sales02,8643,427
unit price$80$80$80
COGS Assumptions2023F2024F2025F
Light Knee Pad for Women
unit cost$26.3$26.3$26.3
Aggressive Knee Pad with Shin Guard for Women
unit cost$22.8$22.8$22.8
Spine Protector for Women
unit cost$28$28$28
Payment processing fees
as % of revenue3%3%3%
Packaging fess
as % of revenue1%1%1%
In- bound shipping cost
as % of revenue1.5%1.5%1.5%
OpEx Assumptions2023F2024F2025F
Legal & professional expenses
as % of revenue1%1%1%
Employee travel and relevant expenses
as % of revenue3%3%3%
as % of revenue2%2%2%
Spillage & wastage
as % of revenue2%2%2%
Cash Flow Assumptions2023F2024F2025F
Salaries payables as % of total salaries8%8%8%
period in months111
as % of revenue8%8%8%
period in months111
as % of revenue25%25%25%
period in months333