How to Make Money with Self-Storage

Americans have more stuff then they know what to do. Because of this, Americans need extra storage space. This basic need is what drives the self-storage market. It doesn’t automatically mean that filling the void with money is easy and straightforward. Zh Brilliant Storage can be more complicated than you think. You need to learn about the industry and how it works.

The Right Type of Facility

There have been many kinds of self-storage facilities in the past 40 years. Profitable self-storage units are usually the first, and are known as Generation One or Two. All rentable units are on the ground floor. The roll-up doors can be reached from a car. This is why. Self-storage tenants want to be in a position to roll up their self-storage units, put their stuff in them (or pull it out), close the door, and drive away. Units located on second floors or higher or those you cannot reach by foot aren’t in demand. It’s not something that anyone wants to do. There was never a need for these facilities. Instead, it was invented by self storage developers in order to reduce the cost of building facilities on larger land.

The same way multi-story buildings were a failure as “climate-controlled” units. It seems that most Americans do not store enough valuable items to warrant heating and air conditioning. Today, the majority of the “climate-controlled” space is empty at most facilities. California’s invention of wine storage units is the worst. Recently, the occupancy rate for “wine stock” was only 20%. This concept has been replaced for most people by the low-cost wine refrigerators at Costo and other retailers. Don’t forget, “climate controlled” areas can be very costly to operate.

The right kinda of place

In self-storage, it is crucial to have good street visibility. This common trait is shared by the U.S.’s most successful selfstorage facilities. Americans tend to rent space at self-storage facilities that are easily accessible and easy to find. You cannot expect anyone to “think” of renting from you if your self-storage space is in a difficult to find location.

Remember that self storage is highly competitive in almost all markets. Because of this, it is vital that your facility has all the necessary tools to be competitive. It is always a pleasure to hear about the triumphs of the underdogs, like the one-handed player in baseball. However, it is far more difficult to win when you are not at a disadvantage from the start.

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