Self storage units are places where people get spaces to store their belongings by paying rent. The lack of space in homes, offices, and other facilities, to store goods has boosted the demand for these units. This has ultimately led to the massive growth of self storage businesses all around the globe. Today, it is one of the most profitable companies in the world.
If you think the business idea is the right fit for you, then keep reading. In this article, we will be discussing seven ways through which you can kickstart and take your self storage business to a whole new level.
Let’s Start!
Market Research
People rent storage units of different types and sizes depending on their needs.
So, the first thing that you need to start with is to do proper research. You need to find out why people living in the area or nearby (where you’re planning to start your business) need self-storage facilities. You can also take a look at the list of best self storage units San Francisco and learn from them as they have been in the industry for years.
If the area is full of residents and buildings then people living there might be looking for good storage facilities to store their vehicles, art, furniture, toys, appliances, supplies, and other items that are not utilized very often.
It may also be a possibility that the area turns out to be an industrial area or where there are multiple offices, businesses, workplaces, etc. So, you can then go for designing a storage facility that suits best for storing office equipment, supplies, materials, or inventories.
Budget
Next, you need to plan your budget and estimate the money you’ll require for the business. The costs of starting and running a self-storage business depend on various factors such as size & scale of business, transportation, promotional costs, material costs, costs of hosting a website, rental costs, and many more. It’s better to make a detailed plan of your budget prior. In case of lack of a budget plan, there stays a high chance of going over budget afterwords.
A Proper Business Plan
A business plan is a document that contains various important information concerning your self storage business. You should prepare it before starting the business. It should include the findings of your market research, a summary of the management structure, a summary of your services, marketing plan, a detailed budget & financial plan, key objectives, goals, etc. Having a proper business plan will help you in running your business smoothly and offer many benefits.
Space & Location
Space and location play a very vital role in a self storage business and also involves major expenses. It is the space in your storage units where your customers will store all their items and hence, you need to make sure that the space in your storage units is safe, secured, climate-controlled, and clean. Also, you need to choose a location for your business that is accessible and has proper transportation facilities, hygiene, proper drainage, parking, security, etc.
Marketing Strategy
Marketing plays a very crucial role in the success of a self-storage business. It also requires great flexibility and adaptability. Your aim should be to market your business in the best possible way, stand out from your competitors, and make people feel that you’ll provide them with the best solutions for their needs.
Since we live in a digital era, the first place people will look for a self-storage facility nearby is on the internet. Today, if you want to skyrocket the growth of your business, you need to have such a good marketing strategy that your business appears at the top of search results. It is a must for you to have a strong website as well as a good presence on platforms like Instagram, Facebook, Linkedin, etc.
Customer Service & Support
Customer service is one of those factors that can either make or break your self storage business, especially when you are just starting. Once you get a deal, don’t assume that your job is done because getting into a deal is just the start of the self storage business. It is because self storage is a long process.
Good service & support can help you develop trust and build a good image in the market. We would suggest you make a team of professionals, particularly for customer service and support. You can offer customers to reach out to these professionals via different mediums such as calls, live-chat, flyers, mail-outs, social media, etc.
Community Involvement
You must not have thought about this point. Community involvement is a great way to get market your business, build trust, and build image in the market. Well, this strategy can act as a game-changer for your business and you may soon be much ahead of your competitors in no time. The more you put effort, get involved in these activities, and serve people, the greater the benefit you’ll enjoy in the long run.
Conclusion
The idea of starting a self-storage business may sound pretty lucrative and appealing. However, in reality, it is quite a tricky one. You must first understand all the aspects of the business before deciding whether it is the right fit for you.
