The company seeks to provide storage facilities to the residents of the area along with additional packing, and moving services. Also, it seeks to ensure that the possessions of people are well protected and cared for. The market for the service is somewhat competitive in the sense that there are a few large scale competitors who can make it hard to launch and develop the storage facility. However, most of the competitors operate in certain particular areas and so none has a monopoly over the whole of Hong Kong. The market plan therefore, at least in the short run, is to start the storage facility business from a densely populated area (Kwun Tong) where there are a lesser number of competitors and a greater demand. In the long run, the company may concentrate on the spreading of the business to other areas.
Over the past few years Hong Kong has progressed in terms of economic growth with an average GDP increase of 5% each year. (HKs Current Economic Situation) Although this has been beneficial for the domestic companies of Hong Kong (our company included) because of the increase in the domestic demand, however it is also true that the economic prosperity of Hong Kong has attracted many foreign investors. The presence of such investors poses a threat in the form of the competition that they generally provide. In order to overcome the consequent harsh operating conditions that have arisen, the company has concentrated on certain objectives.
The company has formulated certain objectives keeping in mind certain observations from the past. This includes the clarification of the goals of the business that has to be started as Bergsman (2004) relates. The company is keen to invest in mini storage facilities often referred to as the self storage facilities. Self storage facilities consist of self storage spaces that are