Car Storage - Help me start my business
Discussion
I have found a really nice place to store cars in the Marlborough area in Wiltshire.
It is a basement which is brick and concrete, high ceilings, secure and dry. It is approx. 7000Sq Ft and great for storing cars.
The owner of the area doesn't use this and is keen for it to be used and also to make some income from this area.
I have studied the market and there are car storage businesses nearby, these are charging around £25/wk to store cars, often in dehumidified environments.
I plan to undercut them and store motorhomes, caravans, cars, classic cars, bikes etc.
I am really struggling to find insurance for this project and this is what is holding me back at the moment. I have contacted several brokers who just cannot help as either they dont want to insure a new venture or only want to insure a known quantity of cars.
I really think that this could work and dont want to stop my dream because of this. Can anyone help, please?
It is a basement which is brick and concrete, high ceilings, secure and dry. It is approx. 7000Sq Ft and great for storing cars.
The owner of the area doesn't use this and is keen for it to be used and also to make some income from this area.
I have studied the market and there are car storage businesses nearby, these are charging around £25/wk to store cars, often in dehumidified environments.
I plan to undercut them and store motorhomes, caravans, cars, classic cars, bikes etc.
I am really struggling to find insurance for this project and this is what is holding me back at the moment. I have contacted several brokers who just cannot help as either they dont want to insure a new venture or only want to insure a known quantity of cars.
I really think that this could work and dont want to stop my dream because of this. Can anyone help, please?
Ray Singh said:
I have found a really nice place to store cars in the Marlborough area in Wiltshire.
It is a basement which is brick and concrete, high ceilings, secure and dry. It is approx. 7000Sq Ft and great for storing cars.
The owner of the area doesn't use this and is keen for it to be used and also to make some income from this area.
I have studied the market and there are car storage businesses nearby, these are charging around £25/wk to store cars, often in dehumidified environments.
I plan to undercut them and store motorhomes, caravans, cars, classic cars, bikes etc.
I am really struggling to find insurance for this project and this is what is holding me back at the moment. I have contacted several brokers who just cannot help as either they dont want to insure a new venture or only want to insure a known quantity of cars.
I really think that this could work and dont want to stop my dream because of this. Can anyone help, please?
Why would you do that?It is a basement which is brick and concrete, high ceilings, secure and dry. It is approx. 7000Sq Ft and great for storing cars.
The owner of the area doesn't use this and is keen for it to be used and also to make some income from this area.
I have studied the market and there are car storage businesses nearby, these are charging around £25/wk to store cars, often in dehumidified environments.
I plan to undercut them and store motorhomes, caravans, cars, classic cars, bikes etc.
I am really struggling to find insurance for this project and this is what is holding me back at the moment. I have contacted several brokers who just cannot help as either they dont want to insure a new venture or only want to insure a known quantity of cars.
I really think that this could work and dont want to stop my dream because of this. Can anyone help, please?
A USP of being the cheapest doesnt strike me as being a good idea, particularly as you've no idea of costs and no idea of their capability to price match / beat you.
If you want to store caravans and motorhomes, you need to talk to these guys;
http://www.cassoa.co.uk/im-a-storage-site-owner/
Most RV/caravan insurers insist on a site being Cassoa rated if the owner is not storing the unit on their domestic premises.
http://www.cassoa.co.uk/im-a-storage-site-owner/
Most RV/caravan insurers insist on a site being Cassoa rated if the owner is not storing the unit on their domestic premises.
Why not update the thread you already have running that has some help in there already for you, although judging on that one, you aren't going to get far!
https://www.pistonheads.com/gassing/topic.asp?h=0&...
https://www.pistonheads.com/gassing/topic.asp?h=0&...
I'm in the Marlborough area as well and have been trying to find commercial premises for a while, not the same business area though
Firstly I would do your sums, then do your sums again
There is probably a reason why current businesses charge what they do, I would ensure you are going to make a profit
Firstly I would do your sums, then do your sums again
There is probably a reason why current businesses charge what they do, I would ensure you are going to make a profit
Thanks all.
Some constructive comments there.
I have done my sums. The current owner of the premises owns them outright and doesn't use the area at all. Its free money for him.
Local car storage places are charging circa £25/wk, but that is for tiled floor, uber clean, (in some cases) dehumidified storage. I cant offer that. I will need to price my offering accordingly.
The insurance is the big hurdle at the moment......
I have updated my other thread.
Some constructive comments there.
I have done my sums. The current owner of the premises owns them outright and doesn't use the area at all. Its free money for him.
Local car storage places are charging circa £25/wk, but that is for tiled floor, uber clean, (in some cases) dehumidified storage. I cant offer that. I will need to price my offering accordingly.
The insurance is the big hurdle at the moment......
I have updated my other thread.
Ray Singh said:
Thanks all.
Some constructive comments there.
I have done my sums. The current owner of the premises owns them outright and doesn't use the area at all. Its free money for him.
Local car storage places are charging circa £25/wk, but that is for tiled floor, uber clean, (in some cases) dehumidified storage. I cant offer that. I will need to price my offering accordingly.
The insurance is the big hurdle at the moment......
I have updated my other thread.
Thats £25 per week including VAT?Some constructive comments there.
I have done my sums. The current owner of the premises owns them outright and doesn't use the area at all. Its free money for him.
Local car storage places are charging circa £25/wk, but that is for tiled floor, uber clean, (in some cases) dehumidified storage. I cant offer that. I will need to price my offering accordingly.
The insurance is the big hurdle at the moment......
I have updated my other thread.
How much are you getting offered the space for per month?
How much are you budgetting for electric and rates per month?
How much are you budgetting for insurance per month?
How much are you budgetting for advertising per month?
How many cars do you expect to get in to the 7,000 sq foot?
The answers to those questions should get you a very quick indication of viability, and also what your break even point would be.
Deep Thought said:
Ray Singh said:
Thanks all.
Some constructive comments there.
I have done my sums. The current owner of the premises owns them outright and doesn't use the area at all. Its free money for him.
Local car storage places are charging circa £25/wk, but that is for tiled floor, uber clean, (in some cases) dehumidified storage. I cant offer that. I will need to price my offering accordingly.
The insurance is the big hurdle at the moment......
I have updated my other thread.
Thats £25 per week including VAT?Some constructive comments there.
I have done my sums. The current owner of the premises owns them outright and doesn't use the area at all. Its free money for him.
Local car storage places are charging circa £25/wk, but that is for tiled floor, uber clean, (in some cases) dehumidified storage. I cant offer that. I will need to price my offering accordingly.
The insurance is the big hurdle at the moment......
I have updated my other thread.
How much are you getting offered the space for per month?
How much are you budgetting for electric and rates per month?
How much are you budgetting for insurance per month?
How much are you budgetting for advertising per month?
How many cars do you expect to get in to the 7,000 sq foot?
The answers to those questions should get you a very quick indication of viability, and also what your break even point would be.
How much are you budgeting for security per month?
Tyre Smoke said:
Deep Thought said:
Ray Singh said:
Thanks all.
Some constructive comments there.
I have done my sums. The current owner of the premises owns them outright and doesn't use the area at all. Its free money for him.
Local car storage places are charging circa £25/wk, but that is for tiled floor, uber clean, (in some cases) dehumidified storage. I cant offer that. I will need to price my offering accordingly.
The insurance is the big hurdle at the moment......
I have updated my other thread.
Thats £25 per week including VAT?Some constructive comments there.
I have done my sums. The current owner of the premises owns them outright and doesn't use the area at all. Its free money for him.
Local car storage places are charging circa £25/wk, but that is for tiled floor, uber clean, (in some cases) dehumidified storage. I cant offer that. I will need to price my offering accordingly.
The insurance is the big hurdle at the moment......
I have updated my other thread.
How much are you getting offered the space for per month?
How much are you budgetting for electric and rates per month?
How much are you budgetting for insurance per month?
How much are you budgetting for advertising per month?
How many cars do you expect to get in to the 7,000 sq foot?
The answers to those questions should get you a very quick indication of viability, and also what your break even point would be.
How much are you budgeting for security per month?
As I commented on the insurance thread, I had a car in storage in Wiltshire, used to use it when I was in the UK, land at Heathrow and train/bus down. Certainly in the expat/foreigner market, budget wasn't an issue, it was security and service, Cars were cleaned, battery tyres fuel topped up, etc, and they could arrange servicing etc, Cars were arranged by region, mine was in a far east section, as people tended to arrive together, far east flight tend to land in the morning.
My cars were next to very exotic things owned by royalty, if you are looking at that end of the market then you definitely don't want to be looking at storing caravans, I'm not mentioning names as security was an issue to the owner, but you weren't allowed to park your own car, it was collected and delivered outside the storage area so no door or trolley dents.
My cars were next to very exotic things owned by royalty, if you are looking at that end of the market then you definitely don't want to be looking at storing caravans, I'm not mentioning names as security was an issue to the owner, but you weren't allowed to park your own car, it was collected and delivered outside the storage area so no door or trolley dents.
I looked in to starting a car storage business a while ago and just couldn't make the maths work.
Copy+pasted from my "things consider" fag packet man maths sheet :
Startup costs:
Premises Deposit
Conveyancing/legal costs
Decor/renovations/setup/signage
Office furniture and equipment
Garage equipment (eg. tools, battery conditioners, Carcoons)
Accountant/company start up costs
Monthly fixed overheads:
Rent
Service charge
Business rates
Utilities (Gas, Leccy, Water, Phone, Internet)
Insurance
Security/monitoring
Vermin protection
Industry/trade memberships
Monthly variable costs:
Advertising
Marketing items
Professional fees
Accountant
Tools / breakages / repairs
Stationery
Office supplies
Rubbish disposal eg. hazardous eg. oil?
Value add services to think about: detailing, machanic/servicing/MoT, meet and greet/airport runs, delivery collections
Some clients may want covered transport.
UK standard car parking bay is 4.8m x 2.5m - call it 5m x 3m so 15m2 per car
Need maneuvering space - at least same amount again depending on layout but possibly more, plus (minimal) office space so you're paying rent for space that isn't generating revenue. Need to optimise layout for storage - maybe use dollies or lifts?
Market / Competition
competitors base charge £45 per week + vat
then services on top
Competitors
Hamiltons Car Storage http://www.hamiltonscarstorage.co.uk/
Buckingham Car Storage http://www.buckinghamcarstorage.co.uk/
Slades garage http://www.slades-garage.co.uk/storage
Autofarm (possible changed ownership / no longer trading?)
Tigastor http://www.tigastor.co.uk/prices.html
Autovault http://www.autovaultcarstorage.co.uk/
Good "induction process" - https://www.windrushcarstorage.co.uk/storage/car-s...
Windrush car storage cotswolds £52 per week plus VAT
The successful guys in this market are places where they own the freehold - family farms with barns, land etc that sort of thing.
Doing it based on renting a unit I couldn't make the maths stack up
Hope that helps
Copy+pasted from my "things consider" fag packet man maths sheet :
============
Startup costs:
Premises Deposit
Conveyancing/legal costs
Decor/renovations/setup/signage
Office furniture and equipment
Garage equipment (eg. tools, battery conditioners, Carcoons)
Accountant/company start up costs
Monthly fixed overheads:
Rent
Service charge
Business rates
Utilities (Gas, Leccy, Water, Phone, Internet)
Insurance
Security/monitoring
Vermin protection
Industry/trade memberships
Monthly variable costs:
Advertising
Marketing items
Professional fees
Accountant
Tools / breakages / repairs
Stationery
Office supplies
Rubbish disposal eg. hazardous eg. oil?
Value add services to think about: detailing, machanic/servicing/MoT, meet and greet/airport runs, delivery collections
Some clients may want covered transport.
UK standard car parking bay is 4.8m x 2.5m - call it 5m x 3m so 15m2 per car
Need maneuvering space - at least same amount again depending on layout but possibly more, plus (minimal) office space so you're paying rent for space that isn't generating revenue. Need to optimise layout for storage - maybe use dollies or lifts?
Market / Competition
competitors base charge £45 per week + vat
then services on top
Competitors
Hamiltons Car Storage http://www.hamiltonscarstorage.co.uk/
Buckingham Car Storage http://www.buckinghamcarstorage.co.uk/
Slades garage http://www.slades-garage.co.uk/storage
Autofarm (possible changed ownership / no longer trading?)
Tigastor http://www.tigastor.co.uk/prices.html
Autovault http://www.autovaultcarstorage.co.uk/
Good "induction process" - https://www.windrushcarstorage.co.uk/storage/car-s...
Windrush car storage cotswolds £52 per week plus VAT
============
The successful guys in this market are places where they own the freehold - family farms with barns, land etc that sort of thing.
Doing it based on renting a unit I couldn't make the maths stack up
Hope that helps
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