How to Start a Business of Self-Storage

The demand for storage has increased in recent years. More and more people are in need of storage space. People often have things that fill their homes and do not want to throw them yet. Companies need a place for files, equipment and supplies. Therefore, the storage business can be very profitable. Before you start your own storage business, there are plenty of things to consider. Here are some guidelines on how to start successful in storage business.

  • First, you have to do a lot of research. Part of the investment costs, the most important thing to consider in this business would be the location. Choosing the perfect place can be very difficult. It is necessary to find a place that is easily accessible, preferably a main road. Although the land can cost higher in these areas, this would be a good investment since most people probably rent a storage unit in a place that usually go to. However, the high cost can take many years to come.
  • It is recommended to hire a consultant, and to do a feasibility study in the area before investing. You also need to take notes about competition. Storage units placed in the same area will certainly decrease your chances of getting customers.
  • Construction plan, this is one of the most important aspects of your business. Since you will be selling storage units, much of your time and research should be devoted to your schedule. Some important things to consider are the size and type of storage units. This usually depends on the market in the area. They prefer storage unit with controlled temperature? What are they going to put in storage units? That is why a feasibility study would be useful. Other things to consider would be services such as lighting, security and driving space. It is best to hire someone with experience in the construction of storage units to help you.
  • Finally, start planning your marketing strategy, even before building. Your business could not survive without salesmanship. You have to think about the costs and long-term needs before starting any business.
  • After the storage unit is built, you need to take care of personnel, procedures, marketing and maintenance. Starting a business is not easy. The administration may also be more difficult. Remember, proper planning is only the first step; skillfully managing the company is a totally different thing. Ongoing research is also needed after your business has flourished.

Here are some websites that offer more information about the business of self-storage: selfstorage.org, insideselfstorage.com and ministoragemessenger.com. They have useful publications on the characteristics of the storage market, legal and operational self-storage unit, among others. This is a business plan sample that can help: bplans.com.