Portable Storage Business in Panama City, FL

Panama City, FL (Bay County)

Seller Financing Available
StoragePUPs Staged and Ready for Delivery
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Asking Price: $395,000

Cash Flow: $80,000

Gross Revenue: $125,000

EBITDA: $65,000

FF&E: $150,000

Inventory: N/A

Established: 2019

Portable Storage Business in Panama City, FL

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Business Description

OnSite Portable Storage - Delivery/PickUp of Units Contracted Locally

For sale is an OnSite Portable Storage company called StoragePUPs of Panama City established January, 2019. This entity is our first venture toward the formation of a partnership via a Dealer for the Greater Panama City area for StoragePUPs. Our plans are to form numerous Dealerships, similar to Panama City, throughout the SouthEast over the next year.

Our business model is simple. We deliver portable storage units to a customer's site via a local towing contractor and collect rent and fees. We have 50+ portable storage units placed throughout the greater Panama City area. We do not currently own real estate. We rent a "lay down" area on 15th Street for advertising and to store vacant units.

We have yet to have more than a couple units available for rent at a time. Monthly income continues to exceed $10,000 as we now have multiple contractors and insurance companies sending us business along with homeowners.

Generally, the average rental rate per month is in excess of $185. We collect first month rent, a drop off fee ($100 to $150) and a prepaid pick up fee ($100 to $150). We have a private contractor delivering and picking up the units for less than we are charging.

We have one person that takes the phone calls, leases, arranges for the delivery/pickup of units, and does the accounting on QuickBooks; time taken averages a couple hours per day maybe. The remaining cost of our business is marketing. We started with 25 units late January 2019 and now have over 50 units. We utilize FaceBook, Craigslist, and the local newspaper costing an average of $500 per month. We also have a unit at our lay down area on 15th Street is signed for advertising. The cost for the 15th Street lay down area is $500/mo.

We are looking for an hands-on owner operator. We prefer a straight sale of the business and will do some owner financing. We will consider some forms of joint ventures and perhaps some owner financing of the buyer's percentage of ownership.

Our primary objective is to create an operable arrangement with the buyer and establish our first StoragePup Dealership.

Detailed Information

Location:
Panama City, FL
Inventory:
Included in asking price
Employees:
1
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
For sale is our current inventory of portable storage units, with month/month lease assignment, that are now in place and currently rented at customer homes in the greater Panama City area. All units are new and with exception of a few, are in excellent/new condition. Pictures of each unit avail. Unit sizes: 7x7 10x7 13x7 16x7 19x7 We currently only Deliver to customer addresses and do not offer off-site storage. We have an arrangement with a property owner and store our excess inventory on a paved parking lot at 1315 15th Street, Panama (Home Based)
Competition:
Currently there are a limited number of portable storage units available for rent in Panama City other than shipping containers. PODS and PakRat have been serving the city from franchisees outside of the outside of the City more than 100 miles away and are very expensive and have very high delivery/pickup costs.
Growth & Expansion:
Our parent company ModularPortables.com provided the portable storage units and will provide additional inventory to the Buyer at dealer cost. We have only tapped the residential market for Panama City proper and only have one customer currently in Panama City Beach. Panama City Beach is a prime target market for portable storage.
Financing:
Joint Venture w/ Minor Ownership Position and/or Some Owner Financing Available
Support & Training:
Any support and training will be provided to insure a smooth transition to the Buyer.
Reason for Selling:
To assist in establishing the first StoragePUP Dealership.
Home-Based:
This business is Home-Based
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Business Listed By:
Harry Phillips

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