Reserch for a new venture, can you help?
Discussion
I hope I'm not too out of place writing this.
I'm currently undergoing some research of which I was hoping members on her would help me with. This has so far been my first port of call, as through experience in the past, you have all been a pretty enthusiastic lot about your cars!
I have a unique opportunity for a new business venture, I currently work in a printing firm and to be honest its starting to get a little tedious, and like many people, have ambitions of starting my own business.
The prospect is for Professional Vehicle Storage. I have access to a large, new, immaculate and extremely secure factory space. The factory was purpose built as a printing facility so therefore large open spaces; easy, wide access to vehicles throughout and is heated; with room for approximately; 30/40+ vehicles, there is also lots of surrounding open space, (car park and truck turning circle) for the occasional get together!
My plan is to offer secure long/short term storage for vehicles that fellow enthusiasts feel deserve it! Along with all of the support services you may require; i.e. transportation, exercise and maintenance, valeting and repairs.
The facility is in a small town on the border of Lancashire and Yorkshire which is about 40 minutes from Manchester, Leeds and Preston.
I have been a car enthusiast since well before I could even drive, and so this would be an enterprise that I would be extremely passionate about.
My question to you is whether you think this is a valid business opportunity, and since we are in the Yorkshire forum, in order to find out whether there is a market for this; want to try and gauge any potential demand for such a service.
I would be extremely appreciative of input you would have for me. Thank you in advance.
I'm currently undergoing some research of which I was hoping members on her would help me with. This has so far been my first port of call, as through experience in the past, you have all been a pretty enthusiastic lot about your cars!
I have a unique opportunity for a new business venture, I currently work in a printing firm and to be honest its starting to get a little tedious, and like many people, have ambitions of starting my own business.
The prospect is for Professional Vehicle Storage. I have access to a large, new, immaculate and extremely secure factory space. The factory was purpose built as a printing facility so therefore large open spaces; easy, wide access to vehicles throughout and is heated; with room for approximately; 30/40+ vehicles, there is also lots of surrounding open space, (car park and truck turning circle) for the occasional get together!
My plan is to offer secure long/short term storage for vehicles that fellow enthusiasts feel deserve it! Along with all of the support services you may require; i.e. transportation, exercise and maintenance, valeting and repairs.
The facility is in a small town on the border of Lancashire and Yorkshire which is about 40 minutes from Manchester, Leeds and Preston.
I have been a car enthusiast since well before I could even drive, and so this would be an enterprise that I would be extremely passionate about.
My question to you is whether you think this is a valid business opportunity, and since we are in the Yorkshire forum, in order to find out whether there is a market for this; want to try and gauge any potential demand for such a service.
I would be extremely appreciative of input you would have for me. Thank you in advance.
Edited by b3ful on Saturday 22 September 09:57
You will probably struggle with this one. I have offered vehicle storage in the past and there was little interest. Most of the interest I got required such a low price that it wouldn't have even covered the cost of square footage rent, never mind other niceties like insurance or ridiculous notions such as a small profit to cover other overheads.
There seems little call for such a facility in the North.
There seems little call for such a facility in the North.
Thank you for the input;
I also was concerned about a few of your points made.
Talkwrench; The building I refer to will be rent free therefore overheads will be minimal in that respect; which will hopefully put me in good stead as regards offering a more reasonable price.
Burriana, I appreciate that many people with cars such as these do have garage space of there own, It may just be my naivety however; to me it seems that the majority of households have a single or a double garage, and have to sacrifice one car to sitting out on the drive or road, rarely do I see a third garage space for the much more common third/weekend car (?!?)
I was also under the notion that maybe some people are held back from purchasing a 3rd/weekend car; simply due to the fact that they have no space for one to be kept.
I also was concerned about a few of your points made.
Talkwrench; The building I refer to will be rent free therefore overheads will be minimal in that respect; which will hopefully put me in good stead as regards offering a more reasonable price.
Burriana, I appreciate that many people with cars such as these do have garage space of there own, It may just be my naivety however; to me it seems that the majority of households have a single or a double garage, and have to sacrifice one car to sitting out on the drive or road, rarely do I see a third garage space for the much more common third/weekend car (?!?)
I was also under the notion that maybe some people are held back from purchasing a 3rd/weekend car; simply due to the fact that they have no space for one to be kept.
b3ful said:
to me it seems that the majority of households have a single or a double garage, and have to sacrifice one car to sitting out on the drive or road, rarely do I see a third garage space for the much more common third/weekend car (?!?)
Not so I'm afraid. The truth is that most people with single or double garages usually have them full of washing machines, excercise bikes, garden furniture, old boxes of toys ... in fact anything other than a car!There are very few people that can be bothered to put their daily drives in the garage every night only to get them out again in the morning.
As an example, we live on a little development of 12 houses. Every house has a double garage, every house has at least two cars. We are the only people out of 12 houses that put a car in a garage ... and that is because we are the only household that has a "weekend" car. All of the daily drivers without fail stay on the drives.
well, one guy does have a Lambretta in his but that doesn't really count as a car
Edited by burriana on Sunday 23 September 10:06
Thank you Ash M400;
Far too cheap!!! I wasn't expecting that, but as you have put it this way, I think what you are implying is exactly what I want to try and achieve. I know the industries are worlds apart but (bear with me here) from my experience in the printing industry the old saying is very much viable "you get what you pay for"!! I intend to go into this venture with the potential customer as the sole reason for being, and every requirement is fulfilled and if not; then exceeded. Again, in my experience this is a very valuable achievement, as I feel that an exceptional customer and supplier interaction remains in a person mind for benefit in the future.
If a potential market is determined for such a service, the next stage will be looking at the financial side, and prices considered. Please stay tuned!
Far too cheap!!! I wasn't expecting that, but as you have put it this way, I think what you are implying is exactly what I want to try and achieve. I know the industries are worlds apart but (bear with me here) from my experience in the printing industry the old saying is very much viable "you get what you pay for"!! I intend to go into this venture with the potential customer as the sole reason for being, and every requirement is fulfilled and if not; then exceeded. Again, in my experience this is a very valuable achievement, as I feel that an exceptional customer and supplier interaction remains in a person mind for benefit in the future.
If a potential market is determined for such a service, the next stage will be looking at the financial side, and prices considered. Please stay tuned!
Edited by b3ful on Sunday 23 September 10:23
Bizarre.....
I offered space at £10 a week and got the response "I was hoping for something cheaper" and "a lock up only costs £4.00 per week"!
I was also offering decommissioning, re-commissioning, continual battery tender, the works!
Maybe Haworth is too far out of the way for people.
Or maybe is was my aftershave.........
I offered space at £10 a week and got the response "I was hoping for something cheaper" and "a lock up only costs £4.00 per week"!
I was also offering decommissioning, re-commissioning, continual battery tender, the works!
Maybe Haworth is too far out of the way for people.
Or maybe is was my aftershave.........
Edited by Talkwrench on Sunday 23 September 13:28
Talkwrench said:
Bizarre.....
I offered space at £10 a week and got the response "I was hoping for something cheaper" and "a lock up only costs £4.00 per week"!
I was also offering decommissioning, re-commissioning, continual battery tender, the works!
Maybe Haworth is too far out of the way for people.
Or maybe is was my aftershave.........
I'll be honest, I would pay £10 per week to have my car in your lockup just in the hope that you would get bored one afternoon and go through it with a fine tooth comb I offered space at £10 a week and got the response "I was hoping for something cheaper" and "a lock up only costs £4.00 per week"!
I was also offering decommissioning, re-commissioning, continual battery tender, the works!
Maybe Haworth is too far out of the way for people.
Or maybe is was my aftershave.........
Edited by Talkwrench on Sunday 23 September 13:28
b3ful said:
... exceptional customer and supplier interaction remains in a person mind for benefit in the future.
If a potential market is determined for such a service,
If a potential market is determined for such a service,
you lost me about here and I'm in marketing!As Talkwrench says, he looked at the costs a few months back and he can offer not only storage but an extremely experienced, comprehensive and highly recommended service/care package.
If I recall correctly there were only about three people moderately interested.
Sorry, that does sound a little muffled after reading it back! That's what you get from typing that early on a Sunday morning!
What I mean is that, when you deal with a customer and provide a service; or make transaction that is above and beyond the initial expectations of the customer, it is much more likely that the recipient will remember fondly the interaction you had. For example, I'm currently in printing, I we receive an order for 100 business cards, the customer expects 100 business cards; however if we advise on a more suitable stock, or colour, or it arrives in business cards boxes; the customer will more likely remember the extra that was received; which is beneficial in terms of customer retention and repeat ordering, as well as one of the most powerful forms of publicity; word of mouth!
I can understand that this will by no means; especially at the outset; create a sole income for me; and will set up, with as much help as I can from family and friends; whilst still in my current occupation. However; I would like to think that the ancillary offering would boost the cash flow and build the venture to a viable small enterprise.
I know it sounds like I'm trying to justify this for myself but, I do and will take yours and all comments into careful consideration; as I will only go into this if there is enough evidence of demand. If; like you say this demand is so scarce, other avenues will have to be sought.
Splitting the premises into various storage facilities could be the answer, but at the same time, I would have preferred the USP to be the fact that it would be a specialist and bespoke (in comparison to self storage) offering.
What I mean is that, when you deal with a customer and provide a service; or make transaction that is above and beyond the initial expectations of the customer, it is much more likely that the recipient will remember fondly the interaction you had. For example, I'm currently in printing, I we receive an order for 100 business cards, the customer expects 100 business cards; however if we advise on a more suitable stock, or colour, or it arrives in business cards boxes; the customer will more likely remember the extra that was received; which is beneficial in terms of customer retention and repeat ordering, as well as one of the most powerful forms of publicity; word of mouth!
I can understand that this will by no means; especially at the outset; create a sole income for me; and will set up, with as much help as I can from family and friends; whilst still in my current occupation. However; I would like to think that the ancillary offering would boost the cash flow and build the venture to a viable small enterprise.
I know it sounds like I'm trying to justify this for myself but, I do and will take yours and all comments into careful consideration; as I will only go into this if there is enough evidence of demand. If; like you say this demand is so scarce, other avenues will have to be sought.
Splitting the premises into various storage facilities could be the answer, but at the same time, I would have preferred the USP to be the fact that it would be a specialist and bespoke (in comparison to self storage) offering.
Seems to me that you are in a position to start this business on a very small scale with minimal overheads and see if it takes off. I would have thought that up-front property costs would have been the biggest stumbling block, but if that's not an issue for you then I don't see anything holding you back.
And you would also need to insure your self to drive several high performance cars. I think that would be pretty expensive for a start and you will need to be fully insured even if you are only moving them within your own premises.
If you have the space rent free then go for it, but as has been said, the business plan would be on very weak foundations if it relied on "free' rent for its survival.
There is also a matter of trust. You would need to have some pretty good references
If you have the space rent free then go for it, but as has been said, the business plan would be on very weak foundations if it relied on "free' rent for its survival.
There is also a matter of trust. You would need to have some pretty good references
I'm puzzled. You have a building that's rent free? So one of two things - either it's so bad that it shouldn't be used to keep chickens in, let alone expensive cars, or it's a valuable building you've some how got possession or use of - in which case you have to consider the alternative uses/revenues you could get from the bullding. Assuming it's the latter, I don't think you can reasonably ignore the 'opportunity cost' in your decision.
That aside, I would be interested in such a service - if it was in South Yorkshire.
That aside, I would be interested in such a service - if it was in South Yorkshire.
JDH1 said:
I'm puzzled. You have a building that's rent free? So one of two things - either it's so bad that it shouldn't be used to keep chickens in, let alone expensive cars, or it's a valuable building you've some how got possession or use of - in which case you have to consider the alternative uses/revenues you could get from the bullding. Assuming it's the latter, I don't think you can reasonably ignore the 'opportunity cost' in your decision.
That aside, I would be interested in such a service - if it was in South Yorkshire.
Read the thread.That aside, I would be interested in such a service - if it was in South Yorkshire.
"From my experience in the print industry" and "I have a shit load of space in an old printing mill" (roughly quoted, sorry)
I'd wager that it's a mill the OP owns or is family owned which has been shut down as it's now more viable to out source printing, hence the free space, rather than a modified chicken shed. Sorry if I'm off the mark but I think I'm sticking up for you here.
Space is a valuable comodity these days. I was actually considering shipping the cars out (and recently had a conversation with Stevenf) to make more space for stock storage, so to get rid of one car's worth of space to allow me to store more sh1t to sell would be well worth the £520 per year so if you were a couple of miles from Ponty, then I'd be well up for it.
Problem is that you'd need 50 cars to draw £25k, and there WILL be some overheads. Do you really need to store cars? It could just as easy be boxes.
Nearly there Greensleeves; however, less of the old! ;-)
It was custom renovated from top to bottom in 1995, so its still pretty much absolutely tip top.
I agree that space is a valuable commodity, however; as with any business model; you need a USP, and since I'm pretty passionate about cars I wanted a concentration towards this. I feel I would be more likely to make a concerted effort towards something that I am passionate about.
I do agree that there will be overheads and the figures you put forward do ring true; however the alternative speciality services offered are those that will hopefully boost turnover.
It was custom renovated from top to bottom in 1995, so its still pretty much absolutely tip top.
I agree that space is a valuable commodity, however; as with any business model; you need a USP, and since I'm pretty passionate about cars I wanted a concentration towards this. I feel I would be more likely to make a concerted effort towards something that I am passionate about.
I do agree that there will be overheads and the figures you put forward do ring true; however the alternative speciality services offered are those that will hopefully boost turnover.
Greensleeves said:
JDH1 said:
I'm puzzled. You have a building that's rent free? So one of two things - either it's so bad that it shouldn't be used to keep chickens in, let alone expensive cars, or it's a valuable building you've some how got possession or use of - in which case you have to consider the alternative uses/revenues you could get from the bullding. Assuming it's the latter, I don't think you can reasonably ignore the 'opportunity cost' in your decision.
That aside, I would be interested in such a service - if it was in South Yorkshire.
Read the thread.That aside, I would be interested in such a service - if it was in South Yorkshire.
"From my experience in the print industry" and "I have a shit load of space in an old printing mill" (roughly quoted, sorry)
I'd wager that it's a mill the OP owns or is family owned which has been shut down as it's now more viable to out source printing, hence the free space, rather than a modified chicken shed. Sorry if I'm off the mark but I think I'm sticking up for you here.
Space is a valuable comodity these days. I was actually considering shipping the cars out (and recently had a conversation with Stevenf) to make more space for stock storage, so to get rid of one car's worth of space to allow me to store more sh1t to sell would be well worth the £520 per year so if you were a couple of miles from Ponty, then I'd be well up for it.
Problem is that you'd need 50 cars to draw £25k, and there WILL be some overheads. Do you really need to store cars? It could just as easy be boxes.
JDH1; I understand, thank you. And you are correct; there are alternative methods of providing revenue streams using the space. However a number of these have been considered but have all involved a high initial outlay for equipment/conversion for suitability, etc. All of which I do not have the luxury of funding. At the same time, as already mentioned, If I do do anything at all to exploit this opportunity; It must be something that I want to do and will be happy putting the effort into. I don't want to be stuck trying to market something I don't really care about; which might lead to regret into taking the plunge.
Although; it does seem that I would be somewhat limiting myself by the storage of cars only, whilst this can still be catered for and be passionate about it may be foolish to dismiss alternatives at the same time; i.e. caravans, campers, personal storage etc. in order to boost revenue alongside the core of the business.
Although; it does seem that I would be somewhat limiting myself by the storage of cars only, whilst this can still be catered for and be passionate about it may be foolish to dismiss alternatives at the same time; i.e. caravans, campers, personal storage etc. in order to boost revenue alongside the core of the business.
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