Self storage is probably one of the most innovative offerings of the storage industry. Going back to 1891, self storage has been making it easy for people to store their goods in a storage unit that they typically book on a month to month basis. When we first sat down with the founder of a self storage solution firm, we had a preconceived notion that it won’t have anything new to offer to the already crowded space. But the deeper we got into the conversation with them, the more we realized their product was.
The firm was an on-demand self storage unit which offered a range of services like packaging, moving the goods to the storage unit, picking products from the unit to give back to the customers when they needed it, etc. Basically, it was taking out all the efforts of self-management from the self storage sector. The product idea was truly revolutionary, as there are very few businesses that offer an end-to-end solution.
“The moment we got a grasp of their model, we learned how profitable they could get in terms of the scope they carried. In many ways, the brand was fit for funding and we knew we had to help them secure it from the notable names in the storage and similar space” – Ash Narain, CMO, Marquee Equity.
Final Product was excellent! I worked with Amitoj on developing our Financial Model and his attention to detail and communication was excellent! I was thrilled with our final product and the process was much easier than I anticipated.
Scott Steger, National Sales Director, Perklee Inc.
The global self storage market is poised to reach a valuation of over 64.71 billion by the time we hit 2026. The self-storage sector has been witnessing a speedy and exponential growth driven by the COVID pandemic. The era has pushed people towards reorganizing their houses, finding extra spaces as they move to complete lockdown, and making the move towards their hometowns and suburbs till the COVID era subsides. All of this together has brought in a demand for spaces to store their goods as they settle their lives.
In a flourishing period like this, the model that our client came up with offered a complete solution for the end to end storage needs.
“The self storage solution that we had built made it possible for the customers to not just store their excess goods but also get access to it when they needed it. We wanted to make the entire process of product packing, taking them to the storage unit, taking out products when needed, etc. digitalized. What we built was getting a lot of positive response from the end users and we were being called revolutionary, but what we needed was funding to add in more features and reach more markets. And, it felt that Marquee came to our support almost at the right time.” – Founder, the self storage firm.
What the CEO was looking for was $200 million in funding and mentoring support on the front of making the business economics long term. They also needed the money to hire more people across all levels and expand their feature sets to enable them with making decisions around keeping their goods stored, donating them, or getting rid of them.
Our team sat with them to understand how they were keeping their business afloat since they were handling all the groundwork, how were they managing the scalability part of it, and what their future plans were. Upon gathering that understanding, we helped them get all their documents in place – financials, market positioning, client testimonials, etc. and initiated the outreach program. We sent prospective investors emails announcing the lucrative opportunity. The intent of this entire activity for us was to not just help them get funded but also help them build a reliable network of investors who would act more like their partners.
Once we had sent out all the emails, we went to give finishing touches to all the paperwork and the business deck. In T+2 days, our emails were filled with responses seeking pitch decks and for scheduling a call with the firm’s founder.
Once we reached the stage where the discussion between the investors and the firm started, it took somewhere around 6 months to get the asked funding.
Our work speaks for itself and we are proud of it.
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