# Self storage business plan — template

A working outline for a UK self storage business plan. Replace every bracketed prompt with your own
figures. Nothing here is advice; it is the structure lenders and the Start Up Loans scheme expect,
in the order they expect it.

Source of the benchmarks referenced below: SSA UK / Cushman & Wakefield Annual Industry Report 2026,
via https://storebay.co.uk/uk-self-storage-industry-statistics

---

## 1. Executive summary

*(Write this last.)* One page. What the business is, where, what it costs to open, when it breaks
even, and what you are asking for.

- Business name and legal form: [ ]
- Site location and type: [container yard / conversion / new build]
- Units at opening / at capacity: [ ] / [ ]
- Total capital required: £[ ]
- Funding sought: £[ ] of £[ ] total (your own contribution: £[ ])
- Break-even occupancy: [ ]% — *(from your own P&L; see section 6)*

## 2. The opportunity

- Catchment: population within a 15–20 minute drive: [ ]
- Competing sites in that catchment, their prices and apparent occupancy: [ ]
- Why this site, in one paragraph: [ ]
- National context (cite, don't copy): UK self storage is 3,143 stores and £1.3bn of turnover;
  average occupancy is 74.5% (79.6% at mature stores); average revenue is £27.40 per **lettable**
  sq ft, down 5.1% year on year.

> Note the word *lettable*. Applying a revenue-per-sq-ft figure to gross internal area is the single
> most common error in a storage appraisal — corridors, stairs and reception earn nothing. The
> standard design benchmark is roughly 75% efficiency.

## 3. The offer

- Unit sizes and count of each: [ ]
- Licence fee per size, ex VAT: [ ]
- Access hours and security: [ ]
- Ancillary income (boxes, padlocks, goods protection): [ ]

> Terminology matters in the documents as much as the plan. UK self storage is granted as a
> **licence to occupy**, not a tenancy or lease; the customer is the **occupier** or **licensee**;
> what they pay is a **licence fee**, not rent. Goods protection is a **contractual liability
> waiver** — it must never be described or sold as insurance, which is a regulated product.

## 4. Route to market

- How customers will find you: [Google Business Profile / website / signage / paid]
- Online booking: [yes/no] — 94.2% of UK stores now offer it
- Opening pricing and the planned step back to full rates: [ ]

## 5. Capital requirement

| Line | Cost (ex VAT) | Basis / quote |
|---|---|---|
| Land or lease premium | £[ ] | [ ] |
| Groundworks, drainage, hard standing | £[ ] | quote |
| Units (containers / partitioning / mezzanine) | £[ ] | quote |
| Fencing, gates, lighting, CCTV | £[ ] | quote |
| Power and connectivity to site | £[ ] | DNO quote — can exceed the unit cost on a rural site |
| Professional fees, surveys, planning | £[ ] | 10–20% of total is the developer rule of thumb |
| Contingency | £[ ] | not optional |
| **Total** | **£[ ]** | |

## 6. Operating model and P&L

Monthly, ex VAT. Fixed costs do not scale with occupancy — that is the structural point of this
business, and why break-even occupancy is the number to defend.

| Line | Monthly |
|---|---|
| Revenue (units let × licence fee) | £[ ] |
| Site rent or finance | £[ ] |
| Business rates | £[ ] — get a VOA estimate; never assume zero |
| Power, lighting, CCTV, broadband | £[ ] |
| Management software | £[ ] |
| Marketing | £[ ] |
| Maintenance, accountancy, sundries | £[ ] |
| **Monthly profit** | **£[ ]** |
| **Break-even occupancy** | **[ ]%** |

> Sanity check: if your break-even occupancy is at or above the 74.5% national average, the plan
> depends on beating the market rather than matching it. That is a much stronger claim than most
> plans can support — say why, or change the model.
> Run the numbers: https://storebay.co.uk/tools/self-storage-profitability-calculator

## 7. Fill-up plan

Year one is a ramp, not a steady state. Show it month by month.

| Month | Units let | Revenue |
|---|---|---|
| 1–3 | [ ] | £[ ] |
| 4–6 | [ ] | £[ ] |
| 7–12 | [ ] | £[ ] |

## 8. Risks and mitigations

- A competitor opens in the catchment: [ ]
- Fill-up is slower than planned: [ ] *(how many months of costs can you fund?)*
- Rates revaluation or an energy price move: [ ]
- Key-person risk: [ ]

## 9. Funding request and use of funds

- Amount: £[ ]
- Purpose, line by line: [ ]
- Security offered: [ ]
- Repayment from: [ ]

## 10. Appendices

Quotes, the site plan, planning correspondence, competitor pricing survey, CVs.

---

Made by StoreBay — UK self storage management software. https://storebay.co.uk
Free to use and adapt. No attribution required, no sign-up, no email.