Can you help on research into a potential new venture?

[b3ful]

I hope I'm not too out of place writing this.
I'm currently undergoing some research of which I was hoping members on here would help me with. I can tell from reading the forum that you are all 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 it’s 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, 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.

 

[Myros]

be a bit more specific about the location

and those of within striking distance will probably pitch in. I can think of a few problems, such as what do you do with the doting owner who wants to pet his car at 11:30 on a Sunday night. And how much are you thinking of charging.

 

[b3ful]

Thanks Myros
Its actually in Barlick, in case you know it (If you do know it; you will know its unabbreviated name!?)
Valid point re timings that will be something I will have to investigate further.
As for pricing, I have started looking at similar companies, I would think that the basic storage rate will be competitive alongside those; but then there will be a scale-able pricing structure depending on services required. These will not be firmed up until I really decide that there is enough demand to justify taking the plunge.

 

[Myros]

ah, the Bradshaws of Barnoldswick

that takes me back 20 years. I know it reasonably well, but it would be too far away for me store my beloved and satisfy my need to use her at short notice. It would be not too bad if I had a long term store or a winter Sorn in mind, but I like to go for a spin once a week at least if it's not being salted.

Probably not for me I'm afraid. Good luck though.

 

[David Nock]

Weigh it up carefully. It seems to me to be a high cost entry business start up if you know what I mean. You say secure but the first couple of high power cars will be real targets for the bad guys, so you'll need higher than average security since you've "desirable goods" on board, not components. Then there's Insurance to think about.
Now you're on to rent and business rates for the unit. Plus Heating and Dehumidifying equipment.
And all this has to be supported, and make a profit from 30/40 subscriptions, assuming that you're full up.
Unless you're well heeled I'd go for something lower start up cost: Wedding Cars at weekend say? (Just an example of an enterprise easy to start up).

 

[b3ful]

Thanks David Nock.
I do have some advantage with a couple of your considerations;
the building is actually family owned since the family printing firm was deemed "no longer viable" and therefore rent should not be an issue, at least for start up and the early stages. Also; the building already has heaters in place as the presses had to be enclosed in a somewhat controlled climate.
But; as you say, my next main concerns are going to be security and insurance costs.
I think the smaller start up venture that can be catered for over weekends may be just the foundation I can use to build up from; I was thinking about using some of the less prestigious space on the same premises; a covered car park that could be used as storage for caravans and campers etc.

 

[BlackC55]

Go for it.

If you don't try you wil never know.

I am really pleased I started my business only 4 months ago and I am doing really well.

Be careful on the repairs side of things as this is the only place where I can forsee a problem.

 

[verytalldave]

Not trying to scare you now - merely pointing out one of modern life realities.
Once you start storing exotic expensive machinery, which lets face it, is likely to be the case.......Porsche, Ferrari, Bentley, etc...etc.... its not an impossible scenario that you could face a visit from people who could not stop helping themselves to some of the trinkets in your care. Having "old Joe" as night watchman is not enough nowadays. Unfortunately. You need much more than that. MUCH MORE. Storage of valuables nowadays involves substantial anti-theft measures. Seriously substantial. And THAT is where most of your running costs will go. A business such as the one you are considering is run mainly on personal recommendations. Have one or two thefts and that will all go and the business will collapse. People wont store their pride and joys anywhere even remotely iffy. Its not like you are storing old 3 piece suites or junk. You WILL be targeted - so be prepared.

 

[JEZ.S320L]

Thanks Myros
Its actually in Barlick, in case you know it (If you do know it; you will know its unabbreviated name!?)
Valid point re timings that will be something I will have to investigate further.
As for pricing, I have started looking at similar companies, I would think that the basic storage rate will be competitive alongside those; but then there will be a scale-able pricing structure depending on services required. These will not be firmed up until I really decide that there is enough demand to justify taking the plunge.

Barnoldswick eh? How's the RR Turbine factory??

 

[JEZ.S320L]

I hope I'm not too out of place writing this.
I'm currently undergoing some research of which I was hoping members on here would help me with. I can tell from reading the forum that you are all 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 it’s 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, 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.

Even offer to pick car up at Airport and deliver back? Unsocial hours I know - but if they want it badly enough - they will pay!

 

[Bolide]

What's your USP? Why use you?

Nick Froome
www.w124.co.uk

 

[b3ful]

RR factory same as always; seems to be going strong, dominating the town!
verytalldave; you are quite correct; security and insurance are the 2 biggest issues to overcome, and will not be taken lightly.
JEZ.ML270; Airport transfers have been considered also and could prove a lucrative offering in conjunction with looking after the car whilst the customer is away.
BlackC55; In terms of repairs; I would only take (not personally mind!) on the superficial items such as scrapes or dents etc. anything major would simply be transferred/outsourced to a customer suggested garage, at least to start with anyway.

I have just had an interesting idea on a thread elsewhere; of whilst offering workshop space, also providing WC/showers etc. and maybe a "canteen" type facility, to make the experience a social one between like minded people helping with repairs and sharing tips etc. (?)

 

[Dave's E55 AMG]

I do a lot of work for RR. Wasn't there a police officer murdered in Barlick at the weekend?

 

[rdm555]

I think the ideas a good one. I work on cars for some friends and their cars are usually in storage most of the year but they struggle to find long term secure storage. I think that your target market should be the better off type who will pay the right price for the right service.

Any new business entering an existing market needs a unique selling proposition, i.e. something that other similar companies don’t offer. Have a look at the competition and what they do and offer more.

For exampleif you offer valeting, mechanical services and arrange Mot’s, then your offering a complete solution. The customer leaves their car with you in storage for the winter you hand it back in the spring serviced MOT’d and cleaned, should beat the opposition! The more you can offer the better your chances of a wider market. Not all you eggs in one basket.

Find yourself a mentor and brainstorm all ideas however off the wall they may seem and you will hit on something that gives you a unique offering, the rest will then fall into place. Spend ¾ of you time planning before you action (The old adage measure twice cut once) and you should do well. Good Luck. Ross

 

[Silver Arrow]

It's called a business plan.
All banks need them before agreeing to finance operations.
Many academic business schools offer such help to small businesses, the Chartered Management Institute also helps in local areas.
Areas such as researching the business environment, market, opposition etc are covered.
The local Rolls Royce agency probably collects, on a recovery truck, services, valets and stores expensive vehicles at a price. Such opposition might be utilised by subcontracting your services to them etc.
Research would also indicate what proportion of resources to allocate to different layers of possible service etc.
Best of luck!

 

[Ben Lovejoy]

On the security front, I would strongly recommend not being remotely specific about the location in public. I don't know the area, so I have no idea if what you have posted here so far would be enough for a local to work it out; if so, I would edit your posts.

An acquaintance of mine had a small secure facility with three of his own high-value cars. The security measures were really impressive, but it didn't stop thieves breaking in and stealing them. From evidence at the scene, it appeared it took them between three and four hours to do, but the value of the haul made that effort worthwhile; with your facility, a full night's work would be justified, and your security measures have to reflect that.

 

[johnmc]

Have you considered storage for Motorhomes? Some of these machines cost far more than
prestige cars, and the owners need somewhere to park them up away from the house, far too big for the driveway. I know several that park at an old farm barn near where I live, pay a fortune to the farmer.

John

 

[Silver Arrow]

Yes, When we lived in California, we all parked our RVs in a sort of land based marina. The local ordnances only allowed us to clutter up our drives with them for filling them up with food, electicity, firearms etc. then disgorging the stuff on our return.
The 'land yacht marina' had armed guards and loose dogs roaming around at night.
No one got in during the time when I used it, but a fancy motorhome near mine got his underside electrics ripped out by the dogs once when they chased some furry animal under there!