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My sister and her husband have been considering about setting up an RV storage business in the Seattle area. They found a place that is very accessible from the freeway with a fuel station nearby. They are thinking of offering one that's covered with heater and A/C facilities and 50amp full hookups. I'm not sure how many buildings are they planning to get set up, but they said that one building can fit about 40 RVs.
Now, here's the thing: they asked me to sign up with them to become a partner in the business. Since it's going to be a lot of money, I'm wondering if this is profitable? Is there a market for this kind of thing in Seattle?
Thanks for your thoughts. |
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| Re: RV Storage Business Idea |
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| I can imagine that there will be a market for this. After all, not everyone does RVing full-time so there are instances when they will need a storage facility where they can securely house their RVs so that it won't get damaged, especially when it comes to the winter months. The question really lies in the numbers. Try to sit down first with your sister and her husband and compute how much will all your expense be and how much you'll need to charge each RVer to use the facilities to make a profit, and then go from there. |
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| Re: RV Storage Business Idea |
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| Judging from what you already mentioned here, it sounds like the RV storage facility will be really expensive. Don't get me wrong. It sounds really good. It's just that there may not be that many people that can afford it. Why don't you try without the a/c and climate control facility first? That way, you can offer the rentals at a lower rate and more people will know you and your business. Once you got a steady stream of clients and you've broken even or made a profit from the initial capital you shell out, then you can consider that. |
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| Re: RV Storage Business Idea |
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| I'd agree with melissa's suggestion. It's best to start with a basic storage facility first. That way, you can start breaking even and get the word out about your facility. For as long as you provide excellent facilities at a reasonable rate, I'm sure you won't find a shortage of clients. By the time that you can get to start the climate control facilities, they will consider it as an upgrade and they will be more than willing. Better that way rather than downgrading because you're losing profit. |
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| Re: RV Storage Business Idea |
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| I did a bit of checking, and I guess the benchmark price will be around $125/month. But a lot of RVers still find this quite expensive. Crunch the numbers and see if you'll be able to make a profit if you offer the rent for something lower than this amount. |
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