{"id":10464,"date":"2023-09-20T10:20:37","date_gmt":"2023-09-20T17:20:37","guid":{"rendered":"https:\/\/blog2.neighbor.com\/storage-blog\/?p=10464"},"modified":"2024-10-30T11:57:49","modified_gmt":"2024-10-30T18:57:49","slug":"building-boat-storage","status":"publish","type":"post","link":"https:\/\/www.neighbor.com\/storage-blog\/building-boat-storage\/","title":{"rendered":"Building a Boat Storage Facility: How to Start Your Boat Storage Business"},"content":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><body><p class=\"wp-block-paragraph\">Thinking about building a boat storage business? Now&rsquo;s the time to invest, with <a href=\"https:\/\/www.insideselfstorage.com\/vehicle-storage\/why-nows-right-time-invest-boatrv-storage-and-considerations-building-it\" target=\"_blank\"><strong>boat storage shortages <\/strong><\/a>sweeping the nation in 2023. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before making the leap and investing any of your hard-earned capital, there are a few things to figure out.&nbsp;<strong>Skip any of these steps and you&rsquo;re likely to make a wrong move<\/strong>, negatively affecting the success of your business in a big way.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the guide below, we&rsquo;ll cover everything you need to know to get your boat storage business off of dry land&ndash; and do it right.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img  decoding=\"async\"  src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEUAAP+KeNJXAAAAAXRSTlMAQObYZgAAAAlwSFlzAAAOxAAADsQBlSsOGwAAAApJREFUCNdjYAAAAAIAAeIhvDMAAAAASUVORK5CYII=\"  alt=\"\"  class=\" pk-lazyload\"  data-pk-sizes=\"auto\"  data-pk-src=\"https:\/\/lh6.googleusercontent.com\/KzM3QugaadbgvKHxCJFPIqjFZIlbAKM6j2PrOwve-JEt8E7hHBV_Sxa1rRbzo-YC1FAHHKQvGof4Zcz-Vkp4y-xC03HJQbShjzm3xt2AHJSANbqTc6sfqtKnGuU4cHg899YvHFRVZPdDLh-EsbkHUoo\" ><\/figure>\n\n\n\n<h2 id=\"how-to-build-a-boat-storage-business-step-by-step\" class=\"wp-block-heading\">How to Build a Boat Storage Business: Step-By-Step<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">If you&rsquo;re looking to invest in the storage industry, boat storage is one of the more unique angles to take. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To ensure your boat storage business is profitable, you&rsquo;ll need to <strong>define your target market<\/strong> <strong>and<\/strong> <strong>scope out lucrative locations<\/strong> for your boat storage business, <em>(Note: boat storage requires considerably more space than other storage businesses)<\/em>. Finally, you&rsquo;ll need to <a href=\"https:\/\/www.indeed.com\/career-advice\/career-development\/business-structure\" target=\"_blank\"><strong>choose the right business structure<\/strong><\/a> for your boat storage setup. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Because most avid <a href=\"https:\/\/www.neighbor.com\/storage-blog\/ultimate-boating-checklist\/\">boating enthusiasts<\/a> will need a place to store their boats while they&rsquo;re not in use, there will be no shortage of potential customers. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here&rsquo;s what you need to know to get started:&nbsp;<\/p>\n\n\n\n<html><body><div id=\"in_post\">\n    <a href=\"https:\/\/www.neighbor.com\/host\" onclick=\"rudderanalytics.track('press editorial cta button', {location: 'first in post', version: '2.0'}, () =&gt; { console.log('track call'); });\">\r\n  <div class=\"first-in-post-cta\">\r\n    <header>\r\n      <h2 id=\"can-we-pay-you-to-store-vehicles\">Can we pay you to store vehicles?<\/h2>\r\n    <\/header>\r\n    <section>\r\n      <div class=\"service-option\">\r\n        <div class=\"service-option-icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"60\" height=\"60\" viewbox=\"0 0 60 60\" fill=\"none\">\r\n            <path d=\"M26.7552 20.0573C26.2911 20.9853 26.2499 22.3578 26.2499 24.375H33.7499C33.7499 22.3577 33.7088 20.9853 33.2448 20.0573C33.0557 19.6792 32.8 19.3973 32.3888 19.1841C31.9442 18.9535 31.2108 18.75 30 18.75C28.7892 18.75 28.0558 18.9535 27.6112 19.1841C27.2 19.3973 26.9442 19.6792 26.7552 20.0573Z\" fill=\"#005EB8\"><\/path>\r\n            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M28.0777 4.32887C29.3195 3.87732 30.6805 3.87732 31.9223 4.32887L48.7973 10.4652C51.0173 11.2725 52.5 13.3777 52.5 15.7462V33.1425C52.5 33.7407 52.4058 34.3605 52.1888 34.9629C47.861 46.9738 35.9939 53.5676 32.1164 55.464C30.7986 56.1086 29.2843 56.1505 27.9278 55.5549C23.9729 53.8185 12.0728 47.6941 7.77513 34.8948C7.58399 34.3255 7.5 33.7394 7.5 33.1762V15.7481C7.5 13.3807 8.98165 11.2729 11.2027 10.4652L28.0777 4.32887ZM22.4998 24.1662L22.4999 24.375C20.4289 24.375 18.75 26.054 18.75 28.125V35.625C18.75 37.6961 20.4289 39.375 22.5 39.375H37.5C39.5711 39.375 41.25 37.6961 41.25 35.625V28.125C41.25 26.0539 39.5711 24.375 37.5 24.375L37.5 24.166C37.5016 22.4546 37.5037 20.19 36.5989 18.3802C36.0848 17.352 35.2859 16.4621 34.115 15.855C32.9776 15.2652 31.6017 15 30 15C28.3983 15 27.0224 15.2652 25.885 15.855C24.7141 16.4621 23.9152 17.352 23.4011 18.3802C22.4961 20.1901 22.4982 22.4547 22.4998 24.1662Z\" fill=\"#005EB8\"><\/path>\r\n          <\/svg><\/div>\r\n        <h3 id=\"list-your-unused-space\">List your unused space<\/h3>\r\n        <p>People are earning $1,000s per year from their garages and outdoor space.<\/p>\r\n      <\/div>\r\n      <div class=\"service-option\">\r\n        <div class=\"service-option-icon\">\r\n          <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"60\" height=\"60\" viewbox=\"0 0 60 60\" fill=\"none\">\r\n            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M13.125 9.375C11.0539 9.375 9.375 11.0539 9.375 13.125V46.875C9.375 48.9461 11.0539 50.625 13.125 50.625H46.875C48.9461 50.625 50.625 48.9461 50.625 46.875V13.125C50.625 11.0539 48.9461 9.375 46.875 9.375H13.125ZM28.125 16.875C28.125 15.8395 28.9645 15 30 15C31.0355 15 31.875 15.8395 31.875 16.875V20.625H35.625C36.6605 20.625 37.5 21.4645 37.5 22.5C37.5 23.5355 36.6605 24.375 35.625 24.375H26.25C25.2145 24.375 24.375 25.2145 24.375 26.25C24.375 27.2855 25.2145 28.125 26.25 28.125H33.75C36.8566 28.125 39.375 30.6434 39.375 33.75C39.375 36.8566 36.8566 39.375 33.75 39.375H31.875V43.125C31.875 44.1605 31.0355 45 30 45C28.9645 45 28.125 44.1605 28.125 43.125V39.375H22.5C21.4645 39.375 20.625 38.5355 20.625 37.5C20.625 36.4645 21.4645 35.625 22.5 35.625H33.75C34.7855 35.625 35.625 34.7855 35.625 33.75C35.625 32.7145 34.7855 31.875 33.75 31.875H26.25C23.1434 31.875 20.625 29.3566 20.625 26.25C20.625 23.1434 23.1434 20.625 26.25 20.625H28.125V16.875Z\" fill=\"#005EB8\"><\/path>\r\n          <\/svg>\r\n        <\/div>\r\n        <h3 id=\"approve-your-renters\">Approve your renters<\/h3>\r\n        <p>You're in control. Approve who rents and the hours of access.<\/p>\r\n      <\/div>\r\n      <div class=\"service-option\">\r\n        <div class=\"service-option-icon\">\r\n          <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"60\" height=\"60\" viewbox=\"0 0 60 60\" fill=\"none\">\r\n            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M31.2776 51.9974L31.7666 51.5417C32.0789 51.2503 32.527 50.8317 33.0706 50.3224C34.1576 49.3041 35.6276 47.9224 37.158 46.4698C40.1682 43.6127 43.5576 40.3461 44.596 39.1282C46.7163 36.6414 48.1719 33.6468 48.8127 30.4251C49.5529 26.704 49.173 22.847 47.7211 19.3418C46.2692 15.8366 43.8105 12.8407 40.6559 10.7329C37.5015 8.62514 33.7942 7.5 30.0001 7.5C26.2061 7.5 22.4973 8.62504 19.3428 10.7329C16.1882 12.8407 13.7295 15.8366 12.2776 19.3418C10.8257 22.847 10.4458 26.704 11.186 30.4251C11.8268 33.6468 13.2824 36.6414 15.4027 39.1282C16.4411 40.3462 19.831 43.6128 22.8415 46.4698C24.3721 47.9224 25.8422 49.3042 26.9294 50.3225C27.4731 50.8318 27.9212 51.2504 28.2336 51.5418L28.723 51.9979C29.4428 52.6672 30.5579 52.6668 31.2776 51.9974ZM28.723 51.9979C28.723 51.9979 28.7232 51.998 30.0001 50.625L28.723 51.9979ZM30.0001 50.625L31.2776 51.9974C31.2776 51.9974 31.2771 51.9979 30.0001 50.625ZM30 32.8125C33.6243 32.8125 36.5625 29.8744 36.5625 26.25C36.5625 22.6256 33.6243 19.6875 30 19.6875C26.3756 19.6875 23.4375 22.6256 23.4375 26.25C23.4375 29.8744 26.3756 32.8125 30 32.8125Z\" fill=\"#005EB8\"><\/path>\r\n          <\/svg>\r\n        <\/div>\r\n        <h3 id=\"get-paid-monthly\">Get paid monthly<\/h3>\r\n        <p>Sit back and collect automatic payments each month.<\/p>\r\n      <\/div>\r\n    <\/section>\r\n    <footer>\r\n      <button>Learn more about hosting <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" fill=\"none\">\r\n          <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M18.8304 5.17619L4.55227 11.6663H11.1779C11.8199 11.6663 12.3404 12.1867 12.3404 12.8288V19.4543L18.8304 5.17619ZM19.029 3.43822C20.0069 2.99374 21.0129 3.9997 20.5684 4.97757L13.0612 21.4935C12.5438 22.6316 10.8404 22.2627 10.8404 21.0124V13.1663H2.99417C1.74398 13.1663 1.37497 11.4628 2.51312 10.9455L19.029 3.43822Z\" fill=\"#EFF5F8\"><\/path>\r\n        <\/svg><\/button>\r\n    <\/footer>\r\n  <\/div>\r\n<\/a>\n  <\/div><\/body><\/html><h2 id=\"1-figure-out-your-market\" class=\"wp-block-heading\">1. Figure Out Your Market<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Before officially starting your boat storage business, you&rsquo;ll need to do market research.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Why is this so important? If you pick a bad market your business has <em>little to no chance of success<\/em>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the <strong>right market<\/strong>, you&rsquo;ll be swimming in a steady stream of customers that sustains your business, provided you market properly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a <strong>bad market<\/strong>, you&rsquo;ll be struggling just to find customers. And with no income streaming in, managing your boat storage facility will be nearly impossible. Without monthly rental payments to pay staff paychecks, you&rsquo;ll need to dip into your own savings accounts just to keep your boat storage business afloat. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When researching your target market, here&rsquo;s what to think about:<\/p>\n\n\n\n<h3 id=\"location\" class=\"wp-block-heading\">Location<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Your new boat storage facility <em>must<\/em> be located between or near a densely populated area (usually a major metropolitan area) or a recreational lake or seaside dock where boating is common.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There&rsquo;s wiggle room for how close your facility will need to be to these hubs. However, be aware that <strong>proximity to a body of water could be a deciding factor<\/strong> in a prospective renter&rsquo;s mind. If your boat storage business is stationed 4 miles away from a <a href=\"https:\/\/www.neighbor.com\/storage-blog\/utah-boating-top-8-lakes-and-reservoirs-to-go-boating-in-utah\/\">popular lake or reservoir,<\/a> you may lose out to the facility located 2 miles away from that same body of water. <\/p>\n\n\n\n<h3 id=\"existing-boat-storage-businesses\" class=\"wp-block-heading\">Existing Boat Storage Businesses<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Don&rsquo;t make the mistake of thinking that if there are other boat storage buildings then it&rsquo;s a bad market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In fact, it&rsquo;s generally the opposite. You want to see existing activity in the area. This allows you to prove there is real demand in the area.<\/p>\n\n\n\n<h3 id=\"is-there-potential-for-success\" class=\"wp-block-heading\">Is There Potential for Success?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">To answer this question, you&rsquo;ll need to study how similar storage businesses in the area are performing. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>How well are they serving their customers? Is there a need the local boat storage business isn&rsquo;t meeting? Is there something they&rsquo;re doing particularly well? <\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Figuring this out is a great way to enter a market and immediately carve out a healthy niche.&nbsp;<\/p>\n\n\n\n<h3 id=\"demand\" class=\"wp-block-heading\">Demand<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Lastly, consider demand.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Studying existing boat storage businesses gives you a good gauge for whether yours could be successful.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To incite confidence in your business idea, you&rsquo;ll want to gather data that confirms the need for a new boat storage facility in that area.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here are some more things to consider when researching your market and investing in a boat storage business: <\/p>\n\n\n\n<h2 id=\"2-build-your-boat-storage-facility\" class=\"wp-block-heading\">2. Build Your Boat Storage Facility<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are a lot of <a href=\"https:\/\/www.neighbor.com\/storage-blog\/15-different-types-of-boats-complete-guide\/\">different types of boats<\/a> and they all need to be stored <em>somewhere<\/em>. While prospective renters in the area may be able to store their <a href=\"https:\/\/www.neighbor.com\/storage-blog\/different-types-of-small-boats\/\">small boats<\/a> <em>(like their kayak or canoe)<\/em> in their garage, medium to large-sized boats will likely require off-site storage in a storage facility. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The size of boats you&rsquo;ll store is but one factor to consider. There are several other decisions you&rsquo;ll need to make before building boat storage facilities of any kind (or purchasing a pre-existing property to develop).&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img  decoding=\"async\"  src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEUAAP+KeNJXAAAAAXRSTlMAQObYZgAAAAlwSFlzAAAOxAAADsQBlSsOGwAAAApJREFUCNdjYAAAAAIAAeIhvDMAAAAASUVORK5CYII=\"  alt=\"\"  class=\" pk-lazyload\"  data-pk-sizes=\"auto\"  data-pk-src=\"https:\/\/lh3.googleusercontent.com\/LjZ72KSJ2IDjSLDFlSt3ld4boGqdeFao_1Kj05NT3Y5bKsWfJ1SvennFT6dka9W32zKo2dp9OjZfPsMkzTj6tygJ8G5OdyTqbVIKVWsSLMT03ZJLbC0UQ4KDF1VqICxc8X5Y0615BzaT4wObIePkx2g\" ><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Consider each of these when thinking about how to layout your storage facility:<\/p>\n\n\n\n<html><body><div id=\"2_in_post\">\n    <a href=\"https:\/\/www.neighbor.com\/host\" onclick=\"rudderanalytics.track('press editorial cta button', {location: 'second in post', version: '2.0'}, () =&gt; { console.log('track call'); });\">\r\n  <div class=\"second-in-post-cta\">\r\n    <section>\r\n      <div class=\"service-option\">\r\n        <h2 id=\"earn-1000s-per-year-with-your-unused-space\">Earn $1,000s per year with your unused space<\/h2>\r\n        <button>Become a Neighbor host<\/button>\r\n      <\/div>\r\n    <\/section>\r\n  <\/div>\r\n<\/a>\n  <\/div><\/body><\/html><h2 id=\"what-types-of-boat-storage-facilities-will-you-offer\" class=\"wp-block-heading\">What Types of Boat Storage Facilities Will You Offer?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Not every boat storage facility is created equal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are several different types of boat storage:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Open<\/strong>: These are open yards typically fenced in. and are the cheapest facility type to set up and maintain. <\/li>\n\n\n\n<li><strong>Canopy<\/strong>: Boats are stored in a boat storage shed or under a canopy, offering partial protection from the sun and the elements.&nbsp;<\/li>\n\n\n\n<li><strong>Enclosed<\/strong>: Think of a modern facility inside of a warehouse with designated storage spaces or units. This storage type is most common in high-end markets such as Southern California.&nbsp;<\/li>\n\n\n\n<li><strong>Valet<\/strong>: High-end dedicated storage for customers willing to spend a little more. Because this option is the highest-end version of boat storage, they&rsquo;re rarer to find. <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">As a boat storage business owner, <strong>you can offer two or more of these facility types at one location. <\/strong>Today, more and more traditional self storage facility owners are offering mixed storage options to maximize revenue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To further maximize revenue (and expand your target market), consider allowing customers to use your storage units for a combination of purposes outside of boating\/boat storage. <\/p>\n\n\n\n<h2 id=\"how-many-boat-storage-units-will-you-have\" class=\"wp-block-heading\">How Many Boat Storage Units Will You Have?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Next, consider:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>How much space do I need per storage unit\/boat?<\/strong> (by the square foot) <\/li>\n\n\n\n<li><strong>How many units do I want?<\/strong> <em>(This should taken into account when setting revenue goals and before purchasing your property)<\/em><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">It&rsquo;s advised that spaces for a boat storage facility should be a minimum of<strong> 12 feet in width and 35 feet in length<\/strong> to accommodate the average-sized recreational boat. From there, you can calculate how many storage spaces you&rsquo;ll be able to fit on your property. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At those average measurements, you should be able to fit around <strong>60 units per acre of property.&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ideally, <strong>the average facility will be between 3-5 acres<\/strong> to serve a populated boating market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, there is no hard-and-fast rule here, so it can be smaller or even much bigger.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With that number in mind, you&rsquo;ll also be able to start getting a rough idea of the potential revenue for your facility (barring other factors such as occupancy rate).<\/p>\n\n\n\n<h2 id=\"3-establish-proper-security-measures\" class=\"wp-block-heading\">3.Establish Proper Security Measures<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This point might seem less important compared to the rest.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, when you&rsquo;re dealing with such large and costly items&ndash; many of which their owners are quite attached to&ndash; you need to take security seriously.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When customers decide to use your facility, they&rsquo;re placing a certain amount of trust in your ability to protect their boat not only from the elements but also from prying eyes.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you plan to run an open-air boat storage lot, you&rsquo;ll want to install a fence around the perimeter of the property. Whether you opt for the enclosed or open facility, an alarm and security system is recommended&mdash;which should consist of <strong><em>security cameras, automatic alarms, coded entry, and even 24-hour human surveillance<\/em><\/strong> in some cases.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also consider camera placement, as ideally there should be a camera pointed at every boat at all times.<\/p>\n\n\n\n<h2 id=\"4-calculate-costs-and-project-revenue\" class=\"wp-block-heading\">4. Calculate Costs and Project Revenue<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, let&rsquo;s get into the numbers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you&rsquo;ve done what we talked about in #1, 2, and 3, you&rsquo;re already off to a great start here.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You should have a clear picture:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Your potential revenue<\/li>\n\n\n\n<li>And costs such as facility, security, and personnel<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Now, it&rsquo;s time to put this together into a business plan that more accurately projects both revenue and costs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You&rsquo;ll want to list down each and every cost to accurately estimate your initial and ongoing investment. In addition to that, you&rsquo;ll need to project revenue based on:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How many units\/boats your facility can house<\/li>\n\n\n\n<li>Average revenue per unit<\/li>\n\n\n\n<li>Average length of rental \/ churn<\/li>\n\n\n\n<li>And overall occupancy rate (i.e. how many of your units are rented at any given time)<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">If you need to obtain funding for construction costs, you&rsquo;ll also want to factor in the <strong>initial down payment for a construction loan of some kind which is usually around 20-25%.&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also, <strong>factor in any special offers <\/strong>you may provide to new customers upon your grand opening in order to generate buzz and bring in your first batch of customers.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lastly, consider revenue methods.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Don&rsquo;t assume you&rsquo;ll be able to keep all of your units occupied year-round. After all, you may have customers that take their boat out of storage for the entire summer season, leaving you with empty units that aren&rsquo;t producing revenue for a period of several months <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this case, consider other methods for making use of the storage space.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img  decoding=\"async\"  src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEUAAP+KeNJXAAAAAXRSTlMAQObYZgAAAAlwSFlzAAAOxAAADsQBlSsOGwAAAApJREFUCNdjYAAAAAIAAeIhvDMAAAAASUVORK5CYII=\"  alt=\"\"  class=\" pk-lazyload\"  data-pk-sizes=\"auto\"  data-pk-src=\"https:\/\/lh3.googleusercontent.com\/jC4z7y0I2X8WMoPuaubccLHqJGUkcwbshdzl7mjqOW6dg7W1kFHtonzpBf9eW33XBQ5L6IsXqZNR5U4gKDyqvqei7FK_6Yl_ehw1Kpk571SrdlT7FUdf4iAFQwEJfC7MvDTvLieVG7PS5NvMn5rpg58\" ><\/figure>\n\n\n\n<h2 id=\"ready-for-your-boat-storage-business-to-set-sail\" class=\"wp-block-heading\">Ready for Your Boat Storage Business to Set Sail?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Storage businesses have become increasingly popular due to their steady revenue streams and high margins.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Boat storage offers similarly consistent revenue in an entirely different niche, making it a worthwhile consideration for those looking to get into storage real estate in general.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Plus, with a peer-to-peer marketplace like Neighbor, it&rsquo;s easier than ever to find new customers in your local area and keep your storage units full to capacity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Even if you have a fresh new storage business, you can lean on Neighbor&rsquo;s great reputation to build your local customer base. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>If aren&rsquo;t quite ready to own a full-scale storage facility,<\/strong> you <a href=\"https:\/\/www.neighbor.com\/host\">become a host with Neighbor<\/a> and rent out your garage, driveway, or unpaved lot to boat owners in need of storage. <\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"Thinking about building a boat storage business? Now&rsquo;s the time to invest, with boat storage shortages sweeping the&hellip;\n","protected":false},"author":43,"featured_media":10466,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[204],"tags":[],"class_list":["post-10464","post","type-post","status-publish","format-standard","has-post-thumbnail","category-real-estate-investing","cs-entry","cs-video-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Building a Boat Storage Facility: How to Start Your Boat Storage Business - Neighbor Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.neighbor.com\/storage-blog\/building-boat-storage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Building a Boat Storage Facility: How to Start Your Boat Storage Business - Neighbor Blog\" \/>\n<meta property=\"og:description\" content=\"Thinking about building a boat storage business? 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