How To Start a Boat and RV Storage Business in
Rhode Island
Wondering how to start a boat and RV storage business in Rhode Island? Looking to start a boat and RV storage business? Nate Jones Entrepreneur is here to help you with a free boat and RV storage business plan below. Starting your boat and RV storage business in Rhode Island the correct way is important.
How much does it cost to start a boat and RV storage business?
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$150,000 - $300,000 - For a 2-3 Acre Vacant Lot
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$200 a year for a website
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$10,000 - For fencing and security
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$30,000 - Grading of Land and Gravel Installation
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$1,000 a Year for Liability Insurance - If you need insurance, reach out to Wexford Insurance, they work with a lot of Storage Businesses. wexfordins.com
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$2,000 a Year for Marketing
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TOTAL COST TO START: $42,200 of fixed costs, $150K-$300K in real estate costs that can be financed with 25% down ($37,500 - $50,000).
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How much money can you make starting a boat and RV storage business?
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$360,000 a year!
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Average Monthly Per Unit Rental Income: $100-$500 = Average $300 a month
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Average Units Stored: 65 Units per acre * 2 Acres = 130 Spots
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Simulation: 100 spots rented for $300 a month = $30,000 a month or $360,000 a year!
Are boat and RV storage businesses profitable?​​
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Yes, as long as your pricing is efficient and profitable based on your initial investments, this business will always be profitable if you initial costs are not too high.
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The challenge with this business is finding the right property to build your storage yard on.
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Types of Storage Businesses:
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Self-Storage Business
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Heavy Equipment Storage Business
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Truck Storage Lot Business
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Boat and RV Storage Lot
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Positives of a Boat and RV Storage Business
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This business is in a niche. There are not a lot of storage locations out there because people don't realize how much money is in it., therefore you have less competition.
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This business is always needed. People do not readily have their own space to store their toys, equipment, and business assets.
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This business is passive. With the right gate and security, you can make money while you sleep
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This business has high profit margins.
How to Start a Boat and RV Storage Business
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​Save up money for down payments on land and initial expenses.
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Form your LLC with the Federal Government and Local Government
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Create your website and social media pages
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Purchase Insurance
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Find a Lawyer to draft your customer service contract
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Make connections with local realtors, contractors, property managers, and homeowners.
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Implement local marketing. ​
Providence - Warwick - Cranston - Pawtucket - East Providence - Woonsocket
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How to find a business idea that fits your lifestyle.
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How to uncover business ideas that no one else is starting.
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How to potentially buy your first business instead of starting one.
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How to start your business and set it up to succeed.
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How to scale your business so you have a life.
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Are you looking for a business idea? Want to be an entrepreneur but don't know what business to start? This course, Business Idea Blueprint is for you! In this course I will help you find a business idea there is actually an opportunity in. Also, I will help you determine which business is right for you and how to get it off the ground and running! ​​​​​​
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