Junk Removal Business Plan
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Executive Summary
Business Overview
Rick’s Boat and RV Storage is a startup boat and recreational storage business located in Missoula, Montana. The company is founded by Richard Diamond, an experienced outdoorsman and trout fishing guide who has built an extensive clientele of travelers who arrive in Missoula towing fishing boats and recreational vehicles. Richard has garnered a positive reputation as a an excellent source of information in everything related to fishing and outdoor experiences. He has already received over thirty commitment letters from his clientele, indicating they will utilize his boat and recreational storage business when they travel to the area. Richard is confident that he can efficiently create the startup business and build it into a long-term profit generator.
Rick’s Boat and RV Storage will provide excellent service in addition to the ideal setting for boat and recreational vehicle storage. In addition to providing covered storage in premium spaces, the startup will also provide cement throughout, laundromat services, water and air stations, and a repair shop to service boats and recreational vehicles. Rick’s Boat and RV Storage will be the premier location to house a boat or vehicle for any length of time.
Product Offering
The following are the services that Rick’s Boat and RV Storage will provide:
- Daily, weekly, monthly, and yearly rates for boat and recreational vehicle storage
- Cement flooring on all storage bays
- Air tag check-in/check-out privileges
- Premium covered spaces for boats or recreational vehicles
- Repair shop for boats and recreational vehicles
- Self-serve laundromat facility for campers and boaters
- Water and air stations for vehicles
- Black water/gray water sewage removal station
Customer Focus
Rick’s Boat and RV Storage will target all owners of boats and recreational vehicles. They will target local owners who need a permanent place to house a vehicle and they will target travelers, those who fish and those who hike in the area. They will target new owners of boats and recreational vehicles. They will target those who are shopping for boats and recreational vehicles. In all cases, Rick’s Boat and RV Storage will deliver the best services for the reasonable cost of storage, along with premium care and repair of their vehicles.
Management Team
Rick’s Boat and RV Storage will be owned and operated by Richard Diamond. He has recruited Sandy Hayes, an associate with ten years of experience as an recreational vehicle park owner, to be his Operations Manager and help oversee the office and administration duties.
Richard Diamond is a graduate of Missoula Central College, where he graduated with a General Business degree. He has spent the previous twenty years in the outdoorsman business, where he served as a trout fishing guide and general manager for a recreation company. His reputation as a trusted advisor in everything related to outdoor experiences has led him to be “premier trout fishing guide” in the Missoula region. Richard is also a recreational vehicle enthusiast, having owned several in the past twenty years and is highly-knowledge in servicing and repairing them.
Success Factors
Rick’s Boat and RV Storage will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly qualified team of Rick’s Boat and RV Storage
- Comprehensive menu of services, including boat and recreational vehicle repair
- Air tag check in/check out services
- 125 storage bays for vehicles up to 42-feet in length
- Cement bays, providing superior tire wear and longevity
- Premium covered bays at modest additional pricing
- Reasonable rates and discounted long-term rates
- Convenient laundromat facility for travelers
- Water and air stations for vehicles
- Black water/gray water sewage removal station
- Rick’s Boat and RV Storage will offer modest pricing and expanded services far beyond those of any other storage facility
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Financial Highlights
Rick’s Boat and RV Storage is seeking $200,000 in debt financing to launch its boat and recreational vehicle storage business. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph below outlines the financial projections for Rick’s Boat and RV Storage.
Company Overview
Who is Rick’s Boat and RV Storage?
Rick’s Boat and RV Storage is a newly established full-service boat and recreational vehicle storage business in Missoula, Montana. Rick’s Boat and RV Storage will be the most reliable, cost-effective, and efficient choice for boat and recreational vehicle owners within Missoula and those who travel to the Missoula region. Rick’s Boat and RV Storage will provide a comprehensive menu of storage and repair services for any boat or recreational vehicle owner to utilize. Their full-service approach includes a comprehensive array of services, including storage, repair services, air and water stations, sewage removal station, laundromat facility and premium covered bays.
Rick’s Boat and RV Storage will be able to house and service boats and recreational vehicles of all sizes and types. The team of professionals are highly qualified and experienced in both the use of boats and recreational vehicles, and the storage of them, as well. Rick’s Boat and RV Storage removes all headaches and issues of the boat and recreational vehicle owner and ensures all issues are taken care of expeditiously while delivering the best customer service.
Rick’s Boat and RV Storage History
Rick’s Boat and RV Storage is owned and operated by Richard Diamond. He has been an experienced trout fishing guide and general manager for a recreation company for the past twenty years. His reputation as a trusted advisor in everything related to outdoor experiences has led him to be “premier trout fishing guide” in the Missoula region. Richard is also a recreational vehicle enthusiast, having owned several in the past twenty years and is highly-knowledge in servicing and repairing them.
Since incorporation, Rick’s Boat and RV Storage has achieved the following milestones:
- Registered Rick’s Boat and RV Storage, LLC to transact business in the state of Montana.
- Has a contract in place at the boat and recreational vehicle site and will set up a repair bay, a laundromat, and a small office area within 10,000 square feet.
- Reached out to numerous clients, resulting in 34 letters of commitment from them to place boats and recreational vehicles at Rick’s Boat and RV Storage.
- Began recruiting a staff of service employees and office personnel to work at Rick’s Boat and RV Storage.
Rick’s Boat and RV Storage Services
The following will be the services Rick’s Boat and RV Storage will provide: (9-10)
- Daily, weekly, monthly, and yearly rates for boat and recreational vehicle storage
- 125 storage bays for vehicles up to 42-feet in length
- Cement flooring on all storage bays
- Air tag check-in/check-out privileges
- Premium covered spaces for boats or recreational vehicles
- Repair shop for boats and recreational vehicles
- Self-serve laundromat facility for campers and boaters
- Water and air stations for vehicles
- Black water/gray water sewage removal station
Industry Analysis
The boat and recreational vehicle storage industry is expected to grow over the next five years to over $88 billion.
The growth will be driven by the increase in travelers seeking outdoor experiences that offer the ease and luxury of self-provided accommodations.
The growth will also be driven by boaters who either use the vehicles for swimming and leisure activities or those who fish.
The growth will also be driven by those who do not want to travel outside the U.S., preferring instead to travel within the contiguous U.S.
The growth will be driven by those who seek to visit the natural beauty of the U.S.
Costs will likely be reduced as the continuing high volume of recreational vehicles and boats in inventory drives the purchase pricing to lower rates.
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Customer Analysis
Demographic Profile of Target Market
Rick’s Boat and RV Storage will target all owners of boats and recreational vehicles. They will target local owners who need a permanent place to house a vehicle and they will target travelers, those who fish and those who hike in the area. They will target new owners of boats and recreational vehicles. They will target those who are shopping for boats and recreational vehicles. In all cases, Rick’s Boat and RV Storage will deliver the best services for the reasonable cost of storage, along with premium care and repair of their vehicles.
The precise demographics for Rick’s Boat and RV Storage are:
| Total | Percent | |
|---|---|---|
| Total population | 1,680,988 | 100% |
| Male | 838,675 | 49.9% |
| Female | 842,313 | 50.1% |
| 20 to 24 years | 114,872 | 6.8% |
| 25 to 34 years | 273,588 | 16.3% |
| 35 to 44 years | 235,946 | 14.0% |
| 45 to 54 years | 210,256 | 12.5% |
| 55 to 59 years | 105,057 | 6.2% |
| 60 to 64 years | 87,484 | 5.2% |
| 65 to 74 years | 116,878 | 7.0% |
| 75 to 84 years | 52,524 | 3.1% |
Customer Segmentation
Rick’s Boat and RV Storage will primarily target the following customer profiles:
- Boat and recreational vehicle owners
- Boat and recreational vehicle renters
- Owners of high-value recreational vehicles and boats who want to secure the best storage coverage and protection
- Owners of recreational vehicles that are over-sized up to 42-feet in length
- Boat and recreational vehicle owners with a need for repairs or servicing
- Travelers who need temporary housing for boats or recreational vehicles
- Travelers who need laundromat services
- Travelers who need black water/gray water sewage removal services
Competitive Analysis
Direct and Indirect Competitors
Rick’s Boat and RV Storage will face competition from other companies with similar business profiles. A description of each competitor company follows:
Bosch Vehicle Storage
Bosch Vehicle Storage provides services and storage for boats, cars and recreational vehicles of all types. Located in Missoula, Montana, the company is able to store 50 vehicles on their property. The company offers an air and water station for servicing vehicles and an asphalt surface for storage of the vehicles. Bosch Vehicle Storage is known for low pricing and a midtown location, which is easy to access from the freeway.
The promise of Bosch Vehicle Storage is to provide the lowest cost for storage of vehicles, along with the asphalt surface bays and easy access for all long-term owners. Their list of services include: air and water station for servicing vehicles, on-site office manager, and a gated lot with guaranteed security of vehicles. The owner, Manning Bosch, acts as the on-site office manager and handles all operations of the business.
In-&-Out Travel Trailer Service
In & Out Travel Trailer Service is a Missoula-based company that provides storage for travel trailers up to 42-feet in length. The company sits on a lot that provides storage for up to 40 trailers at a time. The lot is gravel-surfaced and the boundaries are set by planter boxes around the property lines. Owners use self-service directions to enter, park and remove trailers. A self-service cash box is placed at each bay for daily payment in dollar bills. The business is owned by Ray and Tammy Sellers, who have owned and operated the business for almost thirty years. Their roles include office management and operations oversight. They live in a trailer on-property, which allows them to patrol the lot regularly for security purposes. The In & Out Travel Trailer Service is a favorite lot for homeowners in the area who have trailers over 36-feet in length.
Golden Trout RV Park & Storage
Golden Trout RV Park and Storage is a recreational vehicle park on the southern edge of Missoula. It is owned and operated by Haukie and Rami Suwani, who live on the property and act as co-managers of the facility. The primary objective of the recreational vehicle park is to provide camping for travelers or those interested in fishing and, as such, the amenities are limited to those that travelers might need: convenience food items in vending machines, bottled beverages in a vending machine, self-service payment stations and a small pond for “kiddie” fishing, along with a playground area. The recreational vehicle park will store vehicles on a short-term basis only during the winter months, as the high season is summer and visitors require all available spaces. Boats are occasionally accommodated, although not on a regular basis.
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Competitive Advantage
Rick’s Boat and RV Storage will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly qualified team of Rick’s Boat and RV Storage
- Comprehensive menu of services, including boat and recreational vehicle repair
- Air tag check in/check out services
- 125 storage bays for vehicles up to 42-feet in length
- Cement bays, providing superior tire wear and longevity
- Premium covered bays at modest additional pricing
- Reasonable rates and discounted long-term rates
- Convenient laundromat facility for travelers
- Water and air stations for vehicles
- Black water/gray water sewage removal station
- Rick’s Boat and RV Storage will offer modest pricing and expanded services far beyond those of any other storage facility
Marketing Plan
Brand & Value Proposition
Rick’s Boat and RV Storage will offer the unique value proposition to its clientele:
- Highly-qualified team of skilled employees who are able to provide comprehensive services, including customer service, vehicle repairs and multiple options for recreational vehicle and boat storage care and protection
- Cement flooring in all bays, providing tire wear-and-tear protection
- Reasonable pricing and a large selection of storage bays from which to choose, including premium covered bays at a modest additional price
- Repair and servicing of vehicles and boats
- Laundromat facilities on-site
Promotions Strategy
The promotions strategy for Rick’s Boat and RV Storage is as follows:
Word of Mouth/Referrals
Richard Diamond has built up an extensive list of clientele contacts over the years by providing exceptional service and expertise to his clients. Thirty fishermen and recreational vehicle travelers have already committed to placing their boats and recreational vehicles in his storage bays for extended periods of time. They have also agreed to help spread the word of Rick’s Boat and RV Storage to their friends and associates.
Professional Associations and Networking
Various regional and national trade shows for recreational vehicles and boats will be targeted for booth rentals by Rick’s Boat and RV Storage, primarily to spread the word about this new service for regional visitors and fishermen. In addition, regional associations, such as the Chamber of Commerce and membership clubs will be targeted for referrals. Fishing competitions and related industries will be targeted, as well.
Print Advertising
Print advertising will be launched in fishing and boating periodicals and in flyers advertising services to locals.
Website/SEO Marketing
Rick’s Boat and RV Storage will fully utilize their website for customer usage, including a space reservation portal, customer communication, informational notes for customers and other announcements. The website will be well organized, informative, and list all their services that Rick’s Boat and RV Storage is able to provide. The website will also list their contact information and will be optimized with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “RV storage company” or “vehicle storage near me,” Rick’s Boat and RV Storage will be listed at the top of the search results.
Pricing
The pricing of Rick’s Boat and RV Storage will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.
Operations Plan
The following will be the operations plan for Rick’s Boat and RV Storage.
Operation Functions:
- Richard Diamond will be the Owner and President of the company. He will oversee all staff and manage client relations. Richard has spent the past year recruiting the following staff:
- Sandy Hayes – Operations Manager and oversight of the office and administration duties.
- Danielle Levy – Staff Manager, who will oversee part-time employees and ensure human resources requirements are met and onboarding is complete.
- Trent Levy – Service & Repair Manager for boats and recreational vehicles.
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Milestones:
Rick’s Boat and RV Storage will have the following milestones completed in the next six months.
- 5/1/202X – Finalize contract to lease areas for office, repair shop and laundromat
- 5/15/202X – Finalize staff employment contracts for the Rick’s Boat and RV Storage
- 6/1/202X – Finalize contracts for Rick’s Boat and RV Storage clients
- 6/15/202X – Begin networking at industry events
- 6/22/202X – Begin moving into Rick’s Boat and RV Storage office
- 7/1/202X – Rick’s Boat and RV Storage opens its office for business
Management Team
Rick’s Boat and RV Storage will be owned and operated by Richard Diamond. He has recruited Sandy Hayes, an associate with ten years of experience as an recreational vehicle park owner, to be his Operations Manager and help oversee the office and administration duties.
Richard Diamond attended Missoula Central College, where he graduated with a General Business degree. He has spent the previous twenty years in the outdoorsman business, where he served as a trout fishing guide and general manager for a recreation company. His reputation as a trusted advisor in everything related to outdoor experiences has led him to be “premier trout fishing guide” in the Missoula region. Richard is also a recreational vehicle enthusiast, having owned several in the past twenty years and is highly-knowledge in servicing and repairing them.
Financial Plan
Key Revenue & Costs
The revenue drivers for Rick’s Boat and RV Storage are the storage fees they will charge to the boat and recreational vehicle owners for their services.
The cost drivers will be the overhead costs required in order to operate Rick’s Boat and RV Storage. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
Rick’s Boat and RV Storage is seeking $200,000 in debt financing to launch its boat and recreational vehicle business. The funding will be dedicated toward securing the location and office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
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Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of Short-term Rentals Per Month: 60
- Number of Long-term Rentals Per Month: 30
- Average Fees per Month: $57,000
- Office Lease per Year: $100,000
Financial Projections
Income Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
| Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
| Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
| Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
| Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
| EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
| Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
| PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
| NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
Balance Sheet
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
| Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
| Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
| Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
| Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
| TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
| Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
| Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
Cash Flow Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | ||||||
| Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
| Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
| CASH FLOW FROM INVESTMENTS | ||||||
| Investment | ($180,950) | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
| CASH FLOW FROM FINANCING | ||||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 | |
| Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
| Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
| Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
Junk Removal Business Plan FAQs
What Is a Boat and RV Storage Business Plan?
A boat and RV storage business plan is a plan to start and/or grow your boat and RV storage business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
What are the Main Types of Boat and RV Storage Businesses?
There are a number of different kinds of boat and RV storage businesses, some examples include: Canopy Style Storage, Manger Style Storage, and Enclosed Individual Storage.
How Do You Get Funding for Your Boat and RV Storage Business Plan?
Boat and RV Storage businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Boat and RV Storage Business?
Starting a boat and RV storage business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Boat and RV Storage Business Plan - The first step in starting a business is to create a detailed boat and RV storage business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your boat and RV storage business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your boat and RV storage business is in compliance with local laws.
3. Register Your Boat and RV Storage Business - Once you have chosen a legal structure, the next step is to register your boat and RV storage business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your boat and RV storage business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Boat and RV Storage Equipment & Supplies - In order to start your boat and RV storage business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your boat and RV storage business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.