Boat/RV Storage - General Requirements

[Wesley Mullen]

Happy Saturday!

For awhile now, I've had an idea in my mind that a boat/rv storage facility would be a great investment opportunity in our area. We have a wakeboat and know first hand how hard it is to get on the waiting list to find an available unit - i.e. demand is high. I was curious if anyone else on here had a boat/rv storage facility and what are some key requirements to either A) looking for land to build new and what some of those associated costs would look like or B) what type of existing commercial unit would be an ideal starting place to start keeping an eye out for. 

Honestly, I know a perfect spot for such a facility, only a couple of miles from the lake. The building on the property actually just had a fire, so I presume it will need to be demolished. I'm just not sure about zoning/building requirements on if it would even be allowed. Additionally, I'm not sure about the Capital aspect on how much it would take to invest in such a facility. It's one of those things that seems perfect in my head, but not sure how realistic it is at this present time. Though I know as GC (Grant Cardone) says, you need to be unreasonable to be successful. 

I would be interested in any info related to boat/rv storage that anyone has to offer to increase my knowledge in this area!

Thanks in advance, 

Wes

[Henry Clark]

@Wesley Mullen

@Bryan Mitchell

Bryan doesn’t know this but my middle name is Norman. Born at Fort Sill Oklahoma and yep, my dad picked Norman from your city.

Go to Oklahoma City and check out the facilities and prices.  If your doing enclosed your rates will need to be around $225 to $350.

This rate won’t work where I am at.  Most RVs are in the $20k to $70k range   They won’t pay that.  There is a great demand but I can’t get there numbers to work.

Search for my post on this topic. 

The reason the numbers don’t work are the driveway widths. A 40 foot unit needs about a 70 foot driveway if parking at a 90.  Maybe a 50 wide driveway if parking at a 60.  That’s a lot of concrete not earning money.

You could do canopies.  That reduces door and sidewalk costs. But the type of people your talking about will want their baby totally enclosed. 

Your next problem is your occupancy level. You will only average around 60%.   You might be filled up Dec thru April.  Recommend you do 6 month or 12 month contracts prepaid on the first term and then go month to month after the first term. 

Next problem, RVs and boats are the easiest to break into if parked in the open.  Cameras won’t help you due to the angles.  Offer Angel ??? tool contracts.  

If you can do rock or pea gravel use Engineering fabric underneath it.  

Lots of demand   Just the numbers are hard to achieve.  Find an old run down warehouse or manufacturing location with lots of old concrete or asphalt really cheap.