Know About Starting a Commercial Self-Storage Business
Make no mistake! Commercial self-storage is a huge business! It’s so large, in fact, that the self-storage industry generates over $37 billion annually! And this number is only expected to grow as storage space, and the rental market becomes more and more difficult to find.
At commercial self-storage facilities, customers will pay a monthly fee for using storage spaces to house furniture, vehicles, and pretty much anything that needs to be stored. These businesses have already been proven to be an affordable and lucrative business endeavors.
So, if you’ve considered purchasing metal structures for self-storage buildings, you’ve come to the right place! In this blog, we’ll cover everything you need to know about using steel structures to start your self-storage business!
Practical Considerations Before Starting Your Self-Storage Business
As with any business venture, it pays to perform the necessary due diligence. By having the proper knowledge and being prepared, you’ll better understand your newly chosen line of business. So, let’s discuss some things you’ll want to remember before forming your self-storage enterprise.
1. How Much Will It Cost?
Before breaking ground on your business venture, you’ll need to determine how much it will cost. This will require you to crunch the numbers for several different expenses, including construction costs, land costs, and choosing the right location.
And depending on your budget, you may be required to seek a construction loan or partner with a knowledgeable self-storage investor.
2. What Research Will I Need to Conduct?
In preparation for starting your commercial self-storage business, you’ll want to do some research. This includes:
• Determining a Location
For commercial enterprises, location means everything! It will play a pivotal role in how much attention your business receives and will directly affect your profit margins. As such, you’ll want to carefully choose a location that sits near regularly used highways and ensure that it has easy access.
• Research Your Market
While self-storage is quickly growing in popularity across the country, that won’t mean your business will be successful on its own. Instead, you’ll want to perform ample research on your competition, your service, and the forecast surrounding the industry. With this information, your business will have a greater chance of being profitable.
3. Should You Purchase an Existing Self-Storage Facility?
Due to the popularity of self-storage businesses, finding an existing facility at a reasonable price point might be challenging. However, depending on the location, the price tag for one of these facilities can vary wildly.
Therefore, if you plan to create a self-storage company in a high-population area, it may be more cost-effective to design and install your own infrastructure.
4. How Will You Market Your Self-Storage Facility?
A massive part of any business operation’s success will come from marketing. You’ll want to perform thorough research to determine what marketing strategies work best for the self-storage industry and how to get the most out of your budget.
Reasons to Start a Self-Storage Business
There are many ways that starting a self-storage business can be lucrative for potential investors. Let’s look at just a few of these benefits.
1. Low Overhead Cost
Forming any business is expensive. But creating a business using cost-effective materials such as steel can be far more inexpensive when compared to wooden alternatives. In fact, you can build a prefab metal building as low as 40% cheaper than a traditional stick-built structure.
2. It Pays for Itself
Beyond startup and construction costs, operating a self-storage business requires minimal overhead costs. And if you properly plan out your business tactics, you’ll be able to generate a profit in this industry faster than just about anywhere else.
Since your buildings are crafted from galvanized steel, potential thieves will have a difficult time. And by adding proper locks and security systems to your compound, you can significantly increase your overall security.
4. Ample Storage
On top of the other benefits, owning a self-storage company will, at a minimum, offer you the space to store your own belongings without paying monthly rental fees. This can save you tremendously.
Steel Storage Buildings Are a Safe Investment
When it comes to the self-storage industry, wooden alternatives are nearly unheard of. Due to construction costs, upkeep, and insurance expenses, you’ll be hard-pressed to find any commercial self-storage business using a wooden building. It’s all steel! And for a good reason! Here’s why:
1. More Internal Square Footage
Since steel structures utilize modern engineering, they can often be built to extreme dimensions with little need for internal support. This makes them highly effective at delivering tons of interior room- perfect for utilization as a storage facility.
With lumber prices constantly rising, steel has become one of the most cost-efficient construction methods on the market. And in addition to providing unparalleled strength, steel structures will outlast any wooden alternative, saving you money before, during, and after your purchase. Check with your metal building expert to determine your total storage building cost.
3. Extra Security
When customers choose self-storage facilities, they’re not only looking for protection from the elements but from burglars and thieves as well. And luckily, metal storage buildings are far more secure than any wooden option.
4. Elemental Protection
Aside from keeping items safe and secure, metal storage facilities also protect from the weather. These buildings are designed to stand up to incredibly high winds, rain, snow accumulation, pests, fires, and even seismic activity. Good luck getting a wooden structure to handle all that!
Starting Your Self-Storage Business? Storage Building Central Has You Covered!
With years of experience providing quality storage buildings for many different purposes, Storage Building Central is ready to help you! Our buildings are incredibly strong, long-lasting, and customizable. These features give you unparalleled control over the look and design of your building.
So, if you’re forming your own self-storage business, we can help! We offer fantastic prices and flexible financing options that give every potential customer the ability to own a storage structure, regardless of your budget!
Give us a call today at +1 (844) 315-3151 and let our team of building experts help you design and customize a commercial self-storage facility for you!