Advice on starting self storage in New Zealand please!

[Jade Kallem]

Really interested in starting a self storage businness. Im a complete novice but am passionate to owning my own business and develope passive income. I live in Gisborne, small town with 3 self storage businesses already present. But i believe there is room for another if started before the other 3 expand. Like how do i find out the information i need to get from my competitors? And such and such. Iv started to look around at commercial property trying to find a great location. I would really appreciate any help with what to do to get the business from an idea to operational.

Cheers.

[Dean Letfus]

Off the top of my head it's probably not a great idea. If you were experienced and well funded that might be different. But land and build costs are super high and it can be a money pit. You might want to start with something lower risk? Or in a better market.