Homepage: We would like a big featured image of a self-storage facility here. Maybe a few. One that can be changed regularly. *Please see uploaded stock photos. We feel the landing page should draw the viewer in immediately to click on information. We like current Mission Statement and quote from owner for homepage:
Our mission at BKB Properties is to provide our clients with the highest level of professional service. As a professional self-storage consultant, owner Ben Burkhart provides information, and makes recommendations that ultimately return greater value to owners and developers in the form of stronger profits and investment performance. We do good business with good people, and we stake our reputation on the quality of our work.
"We define and analyze markets, study local competition, build economic viability models and measure physical attributes of your site before making detailed development recommendations."
- Ben Burkhart
2)Product Page. We need to streamline purchasing/ordering information with an online platform. We want clients to be able to order an initial consultation online. The levels of online product information would be A) Quick Site Review. Self Storage Development Consultation via phone, $250. Here we will provide a very high-level look at site and market indicators, and provide moving forward recommendations IF the site looks favorable for self storage; B) Limited Feasibility Analysis, $3,500. Turnaround time of about 14 days, to provide an executive summary of: remote market survey, market data, competitor quality analysis, broad economic model and preliminary recommendations (provide link to Limited Feasibility Proposal, see uploaded doc "Sample Limited Study Proposal"); C) Full Feasibility Study (provide link to sample proposal, see uploaded doc "Sample Study Proposal") $8,500 plus travel; D) Acquisition Due Diligence. Similar to feasibility study, but for the purchase of an existing property. We review the actual physical site, and historical financial performance as part of each project. * link to open/download PDF "Client Expectations BKB Properties" as a resource in the Product Page.
3) Site Selection: GIS Analysis, this technology assists developers in targeting areas in a large geography during site selection, $3,500-$7,000 depending on geographic range ; to include demographic, market and competitor layers in a PDF map of selected geography, usually within a 100- mile radius. *Please use the five uploaded screenshot/png of actual project (link to open/download PDF "SiteSelectionGIS Analysis")
4) FAQ page:
Do I need a full feasibility study? If you are competing in a market with multiple, strong competitors, then the answer is probably yes. Where the strongest competitors compete (urban and suburban areas), we generally cannot collect good quality data via phone survey, and we need to visit individual stores to gain a high-level of confidence in the data we report. We will tell you the truth about your project, even if it hurts your feelings or “dashes your dream.” Our objective is to provide the best analysis so you can make the best decisions as you invest.
How much does it cost to build self storage? The average investment size is probably above $3M. Single-story construction can be from $40-60/SF, and multi-story is usually between $50-70/SF in most markets. Big urban centers often can be the exception, with higher construction costs. Outside of construction, permitting, lease-up expense, interest, design, land costs, and start-up costs are generally defined specific to individual projects. Don’t overlook these!
What is the biggest mistake new self storage developers make? Not thinking like a developer. Some folks over the years have come to us thinking that because they have been successful in one career automatically foretells future success. The hardest people to work with, for us, are professionals who have no real estate experience, but think “I’m smart; it can’t be that hard.” Real Estate Development is tough and risky. Be prepared.
Will banks accept your study? Absolutely. BKB Properties/StorageStudy.com <http://storagestudy.com/> is a recognized industry authority on self storage. Our final reports are bankable, and organized to be easy-to-read for investors, developers and lenders.
I own land and just want to do something with it. Is self storage a good option? We will be happy to look at it for you. If we think your idea is terrible, we’ll tell you!
Can you do a mini-feasibility study, or a desktop review? Yes, we can, for around $3,500. These are easy for us. The problem for you could be the quality of data that can be collected. These make sense in rural areas, where the population is low, or where the competition is sparse or less-sophisticated. They do not make sense in large markets.
How many studies have you completed, and how often do you find your projections are not met? We have completed somewhere around 500 studies. We do not track every project after we complete the study, but we only know of one project which substantially under-performed our projections. About 30% of studies we complete result in a “no-go” recommendation. In general, our underwriting is conservative.
What is the turn-around time for a feasibility study? About six to eight weeks. Some of this depends on you. We deliver analysis that sometimes changes your investment strategy. In those cases, we want to make sure our final narrative report matches the actual project you will build/purchase.
What other services do you provide? We can help with design and development, bank financing, answering investor questions, and overall consulting through the development process.
Why StorageStudy versus other service providers? In addition to being a consultant in the self storage industry, we have experience as self storage developer, owner, store manager, trainer, teacher, coach, project manager, designer, lender, borrower, and investor. Such broad experience, from all “sides of the table” brings immense value to any development or investor team. We are fully-vested in the self storage industry.
Is my project too small for you to help? Maybe. Our average project is looking at investments exceeding $1M. If you are trying to build 50 units, we may not be a good fit.
I just want to ask someone some questions about the industry. Can you help me? Sure. For a small fee, we’ll be happy to carve-out some time to answer any of your questions. Link here to our product page.
5) Contact Page & Contact form/email. firstname.lastname@example.org <mailto:email@example.com> to collect all emails from the website.
6)Testimonials/Client Link page:
A Word From Our Customers—Our #1 Form of Advertising
“One of the best ways to judge a feasibility consultant's work is by the quality of the feasibility study. I have read a number of feasibility reports written by self storage consultants. Ben not only does a great job with the qualitative and quantitative analysis but also knows how to effectively communicate his findings in written form. Most feasibility consultants have lots of industry experience but cannot put together a well-written report. In shopping banks with Ben's feasibility reports I always receive compliments from the bankers on the quality of the report and that is a real testament to Ben's work. A professional, well-written report is crucial for obtaining bank financing and for attracting investors.
For Ben, the engagement is more than just writing a feasibility report, it is about developing a strong working relationship with his clients. Ben encourages open lines of communication. Throughout the whole process and even after the report was finished, I felt perfectly comfortable picking up the phone to talk to Ben about anything that was on my mind. Ben even makes himself available to talk with his client's bankers and investors. The quality of Ben's reports and his open lines of communication is what sets Ben apart from other self storage consultants.”
Thomas F. Kern, Jr., CPA,
MBA InnoVision Development, LLC
"Before I invest the time and resources into a new project, I need to know what works. From getting the unit mix right, to developing the proper marketing strategy, Ben gives me the type of detailed analysis that is critical in the pre-development phase. I need to understand the good, the bad and the ugly on a project, and how to navigate any red flags--that is what BKB Properties delivers, every time."
Gulf Coast Developers, LLC
“Ben knows what he is doing. It serves me well, and it serves our organization well, when we listen to what he says!”
“Ben's detailed analysis and conclusions on development or acquisition feasibility are extremely valuable to the self storage investor, owner and banker.”
AAAA Self Storage Management Group
"BKB Properties provides detailed and unbiased analysis on both potential self storage sites and markets. Having various roles over the years as a self storage lender, developer, owner, manager, and consultant gives Ben insights unique in the industry. We are starting the third phase of the initial project Ben analyzed for our company and the asset performance has been amazingly consistent with Ben’s report. Ben is my first call when I am investigating a potential SS opportunity."
The Rector Companies
"When I met Ben, he said he saw himself as part of my development team-- and he has been exactly that. From dealing with the city, to organizing the rest of my team, and designing a workable project, Ben has always been available-- even after I paid him. He's a great resource, and the first place I turn when I have a question that's not getting answered."
New London, CT
“It was directly related to the Mystery Shopping Report you completed that I was able to identify the weaknesses in my manager’s efforts. You accurately coached me on the weakness in the manager’s sales presentation. I stepped in and was able to correct this deficiency. We have already seen an improvement in the manager’s efforts and sales approach and have noticed an increase in occupancy.”
Henry Tracz Wareham
"When it was time to go to the bank, I needed more than generic estimates and benchmark-type numbers. Ben fine-tuned my feasibility analysis to where the presentation to the bank was smooth, and his projections could not have been any better. His combined background in both banking and self-storage was instrumental in the preparation of a perfect package which resulted in everything I wanted from my lender. His response and follow-through was excellent. He's an important player on my team."
Taylor Ranch Self Storage
* We need to prompt the visitor to contact us, on each page. A quick “Tell us about your project, and we will contact you with ideas…” form might be good. Name, email, phone, project details. What we have on the website under Contact Us now works well.
*We would like to have staff photos with names/titles: Ben Burkhart, Owner (one with beard in uploaded photos), John Scheurich, Market Analyst, and Karen Carraway, Project Coordinator. *Please use uploaded photos with best resolution and fit to overall feel of website.