The sure way to lose money on a self-storage facility is to start with a poorly planned unit mix. In my experience, I have seen poor planning lead to regret by owners who failed to get information from competitors, vendors, storage users, or con- sultants. It is even more important to acquire information from a trustworthy and credible source with wide and proven experience in the industry. This year, I consulted on a project in the Midwest. The owner was caught in a trap set by a metal building company. In an effort to save money, the owner submitted plans gen- erated by the metal building company for the approval and building permit. After a lengthy delay, the planning authority approved the plans and issued the building permit stating that the project must be completed exactly as drawn. The plan had the buildings turned the wrong way and all of the buildings were 20 feet wide. This left a unit mix of all 10-by-10 and 10-by-20 units. While these may be very popular sizes, the proper unit mix must have many different sizes. Click Here to Read More…]]>