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Do you want to start self storage business?
Do you want to start a self storage business? A self storage company provides storage space (such as lockers, containers, rooms, outdoor space) to individuals and businesses. People use the services of self storage companies whenever they run out of space, move to a new place or simply do renovations in their homes. Businesses and companies operating in small facilities use the services of self storing companies for storing their business inventory or archives since they are unable to store these things due to limited space. And considering the economic situation of today, where people are forced to live in small homes and business are forced to operate in small offices, self storage businesses have become a need for everyone. So if you want to start this business, chances of making profits are really high.
In case, you don’t know how to start your own self storage business, the first thing you must do is to prepare a comprehensive business plan which will establish the basis of your company’s future operations and decisions. To help you make your self-storage business plan, we are here providing you the business plan for a self storage business startup named ‘Houston Self Storage’
Executive Summary
2.1 The Business
Houston Self Storage is licensed and insured self storage company located in Downtown Houston. The company will provide short- and long-term self storage services by offering storage units in various sizes to accommodate all sorts of storage needs of the customers. Our storage units business model is specifically designed to fulfill the requirements of all sorts of customers.
2.2 Management
Houston Self Storage will be a joint venture owned by Jack Elisken and Mike Harvin, both of which are experienced industry professionals. Jack has been associated with storage industry while Mike has been associated with the moving industry, so both of them have the right resources and knowledge needed for starting a self storage business. This venture will be equally funded by both parties and both will have equal ownership in it.
2.3 Customers
Our target market is the residential community, institutions and organizations as well as the corporate sector based in Houston. Considering our target customers, we are based in the best possible location for opening a self storage business.
2.4 Target of the Company
We aim to become the best self storage business of Houston within next five years of our startup. Our main business targets to be achieved as milestones over the course of next three years are as follows:
- To achieve the net profit margin of $10k per month by the end of the first year, $15k per month by the end of the second year, and $25k per month by the end of the third year
- To balance the initial cost of the startup with earned profits by the end of the first year
- To start another storage center in Texas city after six years of startup
Company Summary
3.1 Company Owner
Houston Self Storage will be a joint venture owned by Jack Elisken and Mike Harvin. Jack is a highly experienced industry professional and has been serving as the General Manager of New State Warehouse for the last 7 years. Mike owns a moving company, Realtime Movers. The venture will be equally funded by both parties and both will have equal ownership in it.
3.2 Why the Business is being started
Jack and Mike have decided to start self storage business for the purpose of making profits in this industry. Considering the increasing population of Houston and relatively less self storage facilities in the city, their venture has fair chances of succeeding.
3.3 How the Business will be started
Starting a self storage business is not easy since you have to considered a lot of things. In case you don’t know how to start a self storage business, you can take help from this sample self-storage feasibility study.
Houston Self Storage will be located in Downton Houston, a place where it is needed the most. The facility covers an area of about 55,000 square feet and is divided into various segments of 10-by-30-foot storages, 10-by-25-foot storages, 10-by-20-foot storages, 10-by-15-foot storages, 10-by-10-foot storages, 5-by-10-foot storages, and 5-by-5-foot storages. The financial experts have forecasted following costs for expenses, assets, investment, and bank loans for the startup.
The detailed startup requirements, startup funding, startup expenses, total assets, total funding required, total liabilities, total planned investment, total capital and liabilities are given in the table below.
| Start-up Expenses | |
| Legal | $55,300 |
| Consultants | $0 |
| Insurance | $32,750 |
| Rent | $32,500 |
| Research and Development | $32,750 |
| Expensed Equipment | $32,750 |
| Signs | $1,250 |
| TOTAL START-UP EXPENSES | $187,300 |
| Start-up Assets | $0 |
| Cash Required | $332,500 |
| Start-up Inventory | $32,625 |
| Other Current Assets | $232,500 |
| Long-term Assets | $235,000 |
| TOTAL ASSETS | $121,875 |
| Total Requirements | $245,000 |
| START-UP FUNDING | $0 |
| START-UP FUNDING | $273,125 |
| Start-up Expenses to Fund | $11,875 |
| Start-up Assets to Fund | $15,000 |
| TOTAL FUNDING REQUIRED | $0 |
| Assets | $23,125 |
| Non-cash Assets from Start-up | $18,750 |
| Cash Requirements from Start-up | $0 |
| Additional Cash Raised | $18,750 |
| Cash Balance on Starting Date | $21,875 |
| TOTAL ASSETS | $0 |
| Liabilities and Capital | $0 |
| Liabilities | $0 |
| Current Borrowing | $0 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| TOTAL LIABILITIES | $0 |
| Capital | $0 |
| Planned Investment | $0 |
| Investor 1 | $332,500 |
| Investor 2 | $0 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| TOTAL PLANNED INVESTMENT | $695,000 |
| Loss at Start-up (Start-up Expenses) | $313,125 |
| TOTAL CAPITAL | $251,875 |
| TOTAL CAPITAL AND LIABILITIES | $251,875 |
| Total Funding | $255,000 |
Services for customers
A self storage business can be immensely profitable provided that you plan it effectively and choose the right place for its startup. A self storage business profit margin depends on what services will you provide to your customers so make sure to plan your services before you think about how to start a storage unit business. Planning your services before opening a storage facility is also important because it helps you with the planning of other subsequent components.
Houston Self Storage will provide short- and long-term self storage services to its customers. We will offer storage units in various sizes to accommodate all sorts of storage needs of our customers. All storage units will be completely secure from theft and other sorts of damage. We will be open 24/7 for providing you the services you deserve. Our facilities will always be clean, well-lit and we will provide moving carts to facilitate our customers with loading and unloading of stuff. Our main services can be divided into following categories.
- Standard Self Storage Units: We will provide standard self storage units in various sizes to accommodate all your goods. Our storage units are specially designed while keeping user requirements in mind.
- Temperature-Controlled Self Storage Units: In addition to standard storage units, we will also provide climate-controlled self storage units in which constant temperature will be maintained throughout the year. These storage units are perfect for storing delicate items such as important documents, electronics, wood and furniture.
- Packing and Storage Supplies: We will also provide a variety of packing and storage material for the convenience of our customers such as packing boxes, tapes and other important supplies.
- Moving Services: We will also provide moving services to our customers within our storage facility by loading and unloading the goods of our customers.
Marketing Analysis of self storage business
Note
The most important component of an effective <strong>self storage business plan</strong> is its accurate marketing analysis that’s why the company owners acquired the services of marketing experts to help them through this phase.
It is only after this stage that a good storage unit business model could have been developed. After identifying the availability of current self storage facilities and the current demand in Houston, the marketing experts and analysts also helped them to select the best site for starting a storage facility business.
The success or failure of a self storage business totally depends upon its marketing strategy which can only be developed on the basis of accurate marketing analysis. Marketing analysis is a must-do thing before you even think about how to run a storage unit business. If you are starting on a smaller scale, you can do marketing analysis yourself by taking help from this self storage business plan template or other storage facility business plan samples available online. But if you are opening a storage business on a larger scale, it is always best to seek the counsel of marketing experts for developing a good storage unit business plan.
5.1 Market & Industry Trends
The first component of the marketing analysis of your storage units business plan is the feasibility analysis of the current self storage industry. Feasibility analysis dictates whether the industry has become saturated or not and helps figure out whether a startup in this industry will succeed or not. That’s why it must be catered before you start storage unit business.
The self storage industry started in 1960’s due to the increasing need for commercial and residential storage. Since its start, the industry has doubled in size each decade and the ROI have been greater as compared to other forms real estate investment. As of now, the self storage industry generates $38 billion annual revenue in just United States. The industry comprises of around 58,000 businesses and is responsible for employing more than 141,000 people across the country.
As per the growth statistics, the industry has seen a 7% growth rate from 2012 to 2017 and is also projected to increase in future. The reason behind this increase is the increasing tendency of people to live in rental house business and the increase in accumulation of leisure articles such as exercise equipment, wind-surfers, and skis etc. In short, considering the ever-increasing population, we can say that self storage industry is feasible for startups. Hence, you can open a storage unit business and can make it immensely profitable provided that you plan it successfully.
5.2 Marketing Segmentation
For developing an effective marketing strategy, it is crucial to analyze the market segmentation of the future customers of our self storage business. A successful and efficient marketing strategy can only be developed after a business completely knows its potential customers that’s why it is important to consider before starting a storage facility. Our target market is the residential community, institutions and organizations as well as the corporate sector based in Houston. Considering our target customers, we are based in the best possible location to open a storage unit business. Our experts have identified the following type of target audience which can become the future consumers of our services.
The detailed marketing segmentation of our target audience is as follows:
5.2.1 Residential Community:
Our first target group is the residential community based in Houston. The residential community comprised of people from all races and all sorts of background, most of which are financially stable. Due to economic decline, which has affected every single person in the United States, people are living in smaller houses which usually are unable to fit everything. Most people have accumulated leisure articles like exercise equipment, wind-surfers, and skis which they occasionally use, so most of the time people store such articles in self storages so as to avoid stuffing their homes. Another important aspect is about 44% of Houston population live on rent and whenever they have to move from one place to another, they use self storage services for temporarily storing their goods.
5.2.2 Local Businesses:
Our second target group is the local businesses and startups based in Houston. Many businesses in the city, such as retail outlets, often use self storage units for storing their stock on a temporary basis. Another important aspect is many startups and even some of the established businesses operate within limited space such as small offices so they need to stock their inventory and products in self storage units.
5.2.3 Institutions & Organizations:
Many institutions and organizations operating in limited space also need the services of self storage businesses to stock their inventory and products.
The detailed market analysis of our potential customers is given in the following table:
| Market Analysis | |||||||
| Potential Customers | Growth | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | CAGR |
| Local Businesses | 32% | 11,433 | 13,344 | 16,553 | 18,745 | 20,545 | 13.43% |
| Residential Community | 48% | 22,334 | 32,344 | 43,665 | 52,544 | 66,432 | 10.00% |
| Institutions & Organizations | 20% | 12,867 | 14,433 | 15,999 | 17,565 | 19,131 | 15.32% |
| Total | 100% | 46,634 | 60,121 | 76,217 | 88,854 | 106,108 | 9.54% |
5.3 Business Target
We aim to become the best self storage business of Houston within next five years of our startup. The company owners aim to start another storage center in Texas city after six years of startup. Our main business targets to be achieved as milestones over the course of next three years are as follows:
- To achieve the net profit margin of $10k per month by the end of the first year, $15k per month by the end of the second year, and $25k per month by the end of the third year
- To balance the initial cost of the startup with earned profits by the end of the first year
- To provide unparalleled services in the industry and set a benchmark of quality
5.4 Service Pricing
Service pricing is one of the most important factors in deciding the marketing strategy. Selecting the prices of services is difficult because startups have to attract customers while yield profit at the same time. These two things cannot be achieved at the same time and the only way out is to select a compromised trade-off between the two.
After considering our competition and the market demands, we have priced our services in the similar ranges as of our competitors. The reason behind our pricing policy is to achieve MARR (minimum attractive rate of return) which would not be possible in case of offering our services in lower prices.
Strategy
After identifying the market trends, the market demand, and the potential customers of the startup, the next step is to develop an ingenious sales strategy. Like marketing analysis, sales strategy is also an important component of a self storage business model and must be considered before you think about how to run a self storage business.
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6.1 Competitive Analysis
Self storage industry is a competitive one considering the fact that there are currently around 58,000 self storage businesses in the United States. However, we hope to excel our competitors due to several competitive aspects. Our first and the most important competitive advantage is our strategic location which is ideal to start a self storage business plan. We are located in Downtown which is the central hub for all local businesses and is very near to the residential zone of the city. In addition to our location, our quality services will also be one of our biggest competitive advantages. We will ensure that our storage units are clean and well-lit as well as safe and secure from theft or other sorts of damages. We will also provide moving carts to facilitate our customers with loading and unloading of stuff. Lastly, we will open round the clock, seven days of week, ensuring your access to your stuff at any time of the day.
6.2 Sales Strategy
After carrying out a detailed. our experts came up with the following brilliant ideas to advertise and sell ourselves.
- We will carry out a large-scale social media campaign for our advertisement.
- We will launch our website by which customers can know whether a storage unit with their desired requirements is vacant or not. Customers will also be allowed to make reservations through our webpage.
- We will offer customer referral awards to promote our services.
6.3 Sales Monthly
Our experts have forecasted following sales on a monthly basis which are summarized in the column charts below.
6.4 Sales Yearly
Our experts have forecasted following sales on a yearly basis which are summarized in the column charts below.
6.5 Sales Forecast
Considering the quality of our services, our sales pattern is expected to increase with years. By analyzing our market segmentation strategy, our experts have forecasted the following sales on a yearly basis which are summarized in the following column charts.
The detailed information about sales forecast, total unit sales, total sales is given in the following table.
| Sales Forecast | |||
| Unit Sales | Year 1 | Year 2 | Year 3 |
| Standard Self Storage Units | 1,887,030 | 2,680,320 | 2,588,240 |
| Temperature Controlled Self Storage Units | 802,370 | 815,430 | 823,540 |
| Packing and Storage Supplies | 539,320 | 770230 | 1,002,310 |
| Moving Services | 265,450 | 322,390 | 393,320 |
| TOTAL UNIT SALES | 3,494,170 | 4,588,370 | 4,807,410 |
| Unit Prices | Year 1 | Year 2 | Year 3 |
| Standard Self Storage Units | $140.00 | $150.00 | $160.00 |
| Temperature Controlled Self Storage Units | $600.00 | $800.00 | $1,000.00 |
| Packing and Storage Supplies | $700.00 | $800.00 | $900.00 |
| Moving Services | $650.00 | $750.00 | $850.00 |
| Sales | |||
| Standard Self Storage Units | $2,149,800 | $2,784,000 | $3,383,200 |
| Temperature Controlled Self Storage Units | $120,050 | $194,500 | $268,500 |
| Packing and Storage Supplies | $50,110 | $71,600 | $93,000 |
| Moving Services | $139,350 | $194,600 | $249,850 |
| TOTAL SALES | |||
| Direct Unit Costs | Year 1 | Year 2 | Year 3 |
| Standard Self Storage Units | $0.70 | $0.80 | $0.90 |
| Temperature Controlled Self Storage Units | $0.40 | $0.45 | $0.50 |
| Packing and Storage Supplies | $0.30 | $0.35 | $0.40 |
| Moving Services | $3.00 | $3.50 | $4.00 |
| Direct Cost of Sales | |||
| Standard Self Storage Units | $989,300 | $1,839,000 | $2,679,700 |
| Temperature Controlled Self Storage Units | $66,600 | $119,900 | $173,200 |
| Packing and Storage Supplies | $17,900 | $35,000 | $52,100 |
| Moving Services | $19,400 | $67,600 | $115,800 |
| Subtotal Direct Cost of Sales | $1,294,100 | $1,699,400 | $2,104,700 |
Personnel plan
A business can succeed only if it is properly planned during its initial stages. Just like the planning of other components, you must also develop a personnel plan before you think about how to start a self storage facility. The personnel plan not only establishes what staff is required for the startup but it also gives an estimate of the costs incurred on their salaries. However, it is never easy to estimate the number and type of staff needed for a company before it is even launched therefore seek the help of HR experts before you open a self storage business.
7.1 Company Staff
Jack will act as the General Manager of the company while Mike will serve as the Chief Executive Officer of the company. Following staff has been estimated by HR experts for starting a self storage unit business.
- 2 Administrators / Accountants for maintaining financial records
- 4 Sales Executives responsible for marketing and discovering new ventures
- 20 Field Employees for operating and maintaining the storage
- 8 Movers for helping customers load and unload their stuff
- 8 Cleaners for keeping store clean at all times
- 2 Technical Assistants for managing website and social media pages
- 1 Front Desk Officer for acting as a receptionist
- 6 Security Officers
To ensure the best quality service, all employees will be selected through strict testing procedures and will be trained for a month prior to onboarding.
7.2 Average Salary of Employees
The following table shows the forecasted data about employees and their salaries for next three years.
| Personnel Plan | |||
| Year 1 | Year 2 | Year 3 | |
| Accountants | $85,000 | $95,000 | $105,000 |
| Sales Executives | $45,000 | $50,000 | $55,000 |
| Field Employees | $550,000 | $650,000 | $750,000 |
| Movers | $410,000 | $440,000 | $480,000 |
| Cleaners | $152,000 | $159,000 | $166,000 |
| Inventory Manager | $145,000 | $152,000 | $159,000 |
| Technical Assistants | $50,000 | $55,000 | $60,000 |
| Security Officers | $187,000 | $194,000 | $201,000 |
| Front Desk Officer | $42,000 | $45,000 | $48,000 |
| Total Salaries | $562,000 | $599,000 | $646,000 |
Financial Plan
After deciding the strategy and personnel plan of the company, the next step is to develop a detailed map of the financial projections of the company. Just like the planning of other aspects, you must also prepare a financial plan before you start thinking about how to build a self storage business. The financial plan should craft a detailed map about the cost of startup, inventory, payroll, equipment, rent, utilities and how these costs will be covered with the profits. So, if you are thinking, is the self storage business a profitable business you’ll get your answer after you make a financial plan. To make an accurate financial plan, make sure to consult financial experts before you start your own storage unit business. The financial plan of Houston Self Storage is as follows.
8.1 Important Assumptions
The financial projections of the company are forecasted on the basis of following assumptions. These assumptions are conservative and can show deviation but to a limited level such that the major financial strategy of the company will not be affected.
| General Assumptions | |||
| Year 1 | Year 2 | Year 3 | |
| Plan Month | 1 | 2 | 3 |
| Current Interest Rate | 10.00% | 11.00% | 12.00% |
| Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
| Tax Rate | 26.42% | 27.76% | 28.12% |
| Other | 0 | 0 | 0 |
8.2 Brake-even Analysis
| Brake-Even Analysis | |
| Monthly Units Break-even | 5530 |
| Monthly Revenue Break-even | $159,740 |
| Assumptions: | |
| Average Per-Unit Revenue | $260.87 |
| Average Per-Unit Variable Cost | $0.89 |
| Estimated Monthly Fixed Cost | $196,410 |
8.3 Projected Profit and Loss
| Pro Forma Profit And Loss | |||
| Year 1 | Year 2 | Year 3 | |
| Sales | $309,069 | $385,934 | $462,799 |
| Direct Cost of Sales | $15,100 | $19,153 | $23,206 |
| Other | $0 | $0 | $0 |
| TOTAL COST OF SALES | $15,100 | $19,153 | $23,206 |
| Gross Margin | $293,969 | $366,781 | $439,593 |
| Gross Margin % | 94.98% | 94.72% | 94.46% |
| Expenses | |||
| Payroll | $138,036 | $162,898 | $187,760 |
| Sales and Marketing and Other Expenses | $1,850 | $2,000 | $2,150 |
| Depreciation | $2,070 | $2,070 | $2,070 |
| Leased Equipment | $0 | $0 | $0 |
| Utilities | $4,000 | $4,250 | $4,500 |
| Insurance | $1,800 | $1,800 | $1,800 |
| Rent | $6,500 | $7,000 | $7,500 |
| Payroll Taxes | $34,510 | $40,726 | $46,942 |
| Other | $0 | $0 | $0 |
| Total Operating Expenses | $188,766 | $220,744 | $252,722 |
| Profit Before Interest and Taxes | $105,205 | $146,040 | $186,875 |
| EBITDA | $107,275 | $148,110 | $188,945 |
| Interest Expense | $0 | $0 | $0 |
| Taxes Incurred | $26,838 | $37,315 | $47,792 |
| Net Profit | $78,367 | $108,725 | $139,083 |
| Net Profit/Sales | 30.00% | 39.32% | 48.64% |
8.3.1 Profit Monthly
8.3.2 Profit Yearly
8.3.3 Gross Margin Monthly
8.3.4 Gross Margin Yearly
8.4 Projected Cash Flow
| Pro Forma Cash Flow | |||
| Cash Received | Year 1 | Year 2 | Year 3 |
| Cash from Operations | |||
| Cash Sales | $40,124 | $45,046 | $50,068 |
| Cash from Receivables | $7,023 | $8,610 | $9,297 |
| SUBTOTAL CASH FROM OPERATIONS | $47,143 | $53,651 | $59,359 |
| Additional Cash Received | |||
| Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
| New Current Borrowing | $0 | $0 | $0 |
| New Other Liabilities (interest-free) | $0 | $0 | $0 |
| New Long-term Liabilities | $0 | $0 | $0 |
| Sales of Other Current Assets | $0 | $0 | $0 |
| Sales of Long-term Assets | $0 | $0 | $0 |
| New Investment Received | $0 | $0 | $0 |
| SUBTOTAL CASH RECEIVED | $47,143 | $53,651 | $55,359 |
| Expenditures | Year 1 | Year 2 | Year 3 |
| Expenditures from Operations | |||
| Cash Spending | $21,647 | $24,204 | $26,951 |
| Bill Payments | $13,539 | $15,385 | $170,631 |
| SUBTOTAL SPENT ON OPERATIONS | $35,296 | $39,549 | $43,582 |
| Additional Cash Spent | |||
| Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
| Principal Repayment of Current Borrowing | $0 | $0 | $0 |
| Other Liabilities Principal Repayment | $0 | $0 | $0 |
| Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
| Purchase Other Current Assets | $0 | $0 | $0 |
| Purchase Long-term Assets | $0 | $0 | $0 |
| Dividends | $0 | $0 | $0 |
| SUBTOTAL CASH SPENT | $35,296 | $35,489 | $43,882 |
| Net Cash Flow | $11,551 | $13,167 | $15,683 |
| Cash Balance | $21,823 | $22,381 | $28,239 |
8.5 Projected Balance Sheet
| Pro Forma Balance Sheet | |||
| Assets | Year 1 | Year 2 | Year 3 |
| Current Assets | |||
| Cash | $184,666 | $218,525 | $252,384 |
| Accounts Receivable | $12,613 | $14,493 | $16,373 |
| Inventory | $2,980 | $3,450 | $3,920 |
| Other Current Assets | $1,000 | $1,000 | $1,000 |
| TOTAL CURRENT ASSETS | $201,259 | $237,468 | $273,677 |
| Long-term Assets | |||
| Long-term Assets | $10,000 | $10,000 | $10,000 |
| Accumulated Depreciation | $12,420 | $14,490 | $16,560 |
| TOTAL LONG-TERM ASSETS | $980 | $610 | $240 |
| TOTAL ASSETS | $198,839 | $232,978 | $267,117 |
| Liabilities and Capital | Year 1 | Year 2 | Year 3 |
| Current Liabilities | |||
| Accounts Payable | $9,482 | $10,792 | $12,102 |
| Current Borrowing | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 |
| SUBTOTAL CURRENT LIABILITIES | $9,482 | $10,792 | $12,102 |
| Long-term Liabilities | $0 | $0 | $0 |
| TOTAL LIABILITIES | $9,482 | $10,792 | $12,102 |
| Paid-in Capital | $30,000 | $30,000 | $30,000 |
| Retained Earnings | $48,651 | $72,636 | $96,621 |
| Earnings | $100,709 | $119,555 | $138,401 |
| TOTAL CAPITAL | $189,360 | $222,190 | $255,020 |
| TOTAL LIABILITIES AND CAPITAL | $198,839 | $232,978 | $267,117 |
| Net Worth | $182,060 | $226,240 | $270,420 |
8.6 Business Ratios
| Ratio Analysis | ||||
| Year 1 | Year 2 | Year 3 | Industry Profile | |
| Sales Growth | 4.35% | 30.82% | 63.29% | 4.00% |
| Percent of Total Assets | 4.35% | 4.71% | 5.80% | 9.80% |
| Accounts Receivable | 5.61% | 4.71% | 3.81% | 9.70% |
| Inventory | 1.85% | 1.82% | 1.79% | 9.80% |
| Other Current Assets | 1.75% | 2.02% | 2.29% | 27.40% |
| Total Current Assets | 138.53% | 150.99% | 163.45% | 54.60% |
| Long-term Assets | -9.47% | -21.01% | -32.55% | 58.40% |
| TOTAL ASSETS | 100.00% | 100.00% | 100.00% | 100.00% |
| Current Liabilities | 4.68% | 3.04% | 2.76% | 27.30% |
| Long-term Liabilities | 0.00% | 0.00% | 0.00% | 25.80% |
| Total Liabilities | 4.68% | 3.04% | 2.76% | 54.10% |
| NET WORTH | 99.32% | 101.04% | 102.76% | 44.90% |
| Percent of Sales | ||||
| Sales | 100.00% | 100.00% | 100.00% | 100.00% |
| Gross Margin | 94.18% | 93.85% | 93.52% | 0.00% |
| Selling, General & Administrative Expenses | 74.29% | 71.83% | 69.37% | 65.20% |
| Advertising Expenses | 2.06% | 1.11% | 0.28% | 1.40% |
| Profit Before Interest and Taxes | 26.47% | 29.30% | 32.13% | 2.86% |
| Main Ratios | ||||
| Current | 25.86 | 29.39 | 32.92 | 1.63 |
| Quick | 25.4 | 28.88 | 32.36 | 0.84 |
| Total Debt to Total Assets | 2.68% | 1.04% | 0.76% | 67.10% |
| Pre-tax Return on Net Worth | 66.83% | 71.26% | 75.69% | 4.40% |
| Pre-tax Return on Assets | 64.88% | 69.75% | 74.62% | 9.00% |
| Additional Ratios | Year 1 | Year 2 | Year 3 | |
| Net Profit Margin | 19.20% | 21.16% | 23.12% | N.A. |
| Return on Equity | 47.79% | 50.53% | 53.27% | N.A. |
| Activity Ratios | ||||
| Accounts Receivable Turnover | 4.56 | 4.56 | 4.56 | N.A. |
| Collection Days | 92 | 99 | 106 | N.A. |
| Inventory Turnover | 19.7 | 22.55 | 25.4 | N.A. |
| Accounts Payable Turnover | 14.17 | 14.67 | 15.17 | N.A. |
| Payment Days | 27 | 27 | 27 | N.A. |
| Total Asset Turnover | 1.84 | 1.55 | 1.26 | N.A. |
| Debt Ratios | ||||
| Debt to Net Worth | 0 | -0.02 | -0.04 | N.A. |
| Current Liab. to Liab. | 1 | 1 | 1 | N.A. |
| Liquidity Ratios | ||||
| Net Working Capital | $120,943 | $140,664 | $160,385 | N.A. |
| Interest Coverage | 0 | 0 | 0 | N.A. |
| Additional Ratios | ||||
| Assets to Sales | 0.45 | 0.48 | 0.51 | N.A. |
| Current Debt/Total Assets | 4% | 3% | 2% | N.A. |
| Acid Test | 23.66 | 27.01 | 30.36 | N.A. |
| Sales/Net Worth | 1.68 | 1.29 | 0.9 | N.A. |
| Dividend Payout | 0 | 0 | 0 | N.A. |
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