Starting a Self Storage Business: 5 Things to Consider

Right now is the perfect time to start a self storage business. Many people are downsizing and don’t know what to do with their stuff. Instead of selling it, many people leave their items at a self storage facility – just in case they want to utilize those items later. When it comes down to it, a self storage unit usually makes its money from renting out storage units – there is often a set up fee and monthly cost. If you are thinking of starting a self storage business, there are a number of things you must consider first.

  1. Find out what kind of insurance policy you need. When it comes down to it, you need an insurance policy that not only covers your property, but also the property that you are storing. If items get stolen, you don’t want to be held liable – the same thing goes if items break or get damaged. When it comes to limiting your liability, you want to make sure that you keep create a liability barrier with an insurance policy.
  2. Look for an ideal location. When it comes down to it, people don’t really want to drive all the way out of the way for a self storage unit. Moreover, you may want to have your business in a nice location, but when it comes down to it, your business may fare better in a more populated neighborhood than anywhere else. For instance, your business could benefit from being near a main thoroughfare – freeways are excellent. Not only will you be able to advertise your business with a big sign, but your business will also be easy to access.
  3. Make sure that you consider the layout of your self storage unit. For instance, when you purchase pallets from the US Storage Group, you want to make sure they fit perfectly in all your different sized storage units. The last thing you want is for pathways to be obscured, because it can result in patrons not being able to move around fluidly. At the end of the day, your layout is incredibly important, so you want to take your time to think about it.
  4. Keep safety in mind. Your self storage unit may not be made out of the most expensive materials, but you do want the materials to be strong and safe. So, you want to make sure that you have a qualified contractor on hand. The last thing you want is for something to collapse, because that could spell the end of your business.
  5. Strategize an affordable marketing plan. When it comes down to it, your marketing plan could be as simple as offering one month of storage for free, or even two months free. You may also want to take out a small ad in the community newspaper. The object of your strategy is to get as much exposure as possible. At the end of the day, with enough tenacity, your self storage business could take a whole corner of the market in your city or community.

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