How You Can Benefit from an RV & Boat Self-Storage Business
The Rise of RV and Boat Ownership in the United States
In the wake of the pandemic, RVs and boats have grown in popularity. More than half a million RVs will be shipped in 2021, representing a 24% increase over the previous year. In addition, boat sales last year reached their highest level in 13 years. Boats and RVs are indeed the ultimate way to distance yourself from social interaction!
If you are in the self-storage business, offering vehicle storage can be very beneficial. In many markets, there is a tremendous demand for premium rental spaces. Since they have no intention of having their facility auctioned, these tenants usually stay longer and pay on time. For vacation gear storage, many rent climate-controlled storage buildings. In addition, providing more ancillary services and products will help you stand out from your competitors.
Keep reading to learn more about self-storage buildings and how you can benefit from this business.
Why Starting a Storage Facility Business is a Great Idea
It is easy to see why starting a storage facility business is a great idea, especially when dealing with RV storage and boat storage. In terms of real estate investment opportunities, metal storage buildings are the easiest to enter. What is the reason? Self-storage buildings can be operated more efficiently, safely, and more profitably than many other small businesses.
- RVs and Boats are Becoming More Popular
According to statistics, the number of people owning boats and RVs is on the rise. RVs and boats are the most popular purchases during the summer when people are enjoying their hobbies.
- Secure Investment
Storage facility businesses fail less often than other businesses, according to statistics. The average new business venture fails within five years, according to Investopedia. However, self-storage start-ups still succeed in 92% of cases. It is no wonder banks are eager to finance self-storage projects!
- Capital Investment is Less
It is straightforward to set up and operate metal storage buildings, as it does not require much capital and prior experience. The down payment for a conventional business loan can be as little as 25%. A Small Business Association (SBA) loan may require as little as a 10% down payment.
- Market Growth for Self-Storage
Self-storage buildings are recession-proof businesses that are always in demand. They make a profit at 60 to 70 percent occupancy, according to industry statistics. Statista reports that the average occupancy rate in the industry is near 90%. Even so, experts say that achieving 90% capacity can take one to two years. There are many options for metal storage buildings, from camper storage and trailer storage to RV storage and boat storage.
Why RV and Boat Owners Want to Use Your Storage Facility
When people buy RVs, they’re most excited about the adventures they’ll have on the road, but RV storage is a secondary consideration. Although many RV owners have to face this reality at some point, it is inevitable. Most people cannot store their RVs at home due to their size and weight, but an RV storage facility is an excellent alternative.
Using an RV storage facility has some excellent reasons, and we’ll explore some of them below.
- Homeowners’ Agreement Isn’t Violated
Using an RV storage facility is the best alternative for Boat or RV owners without the option of storing their RV at home. Unless they do so, they may violate local ordinances. Additionally, having their RV sit in your driveway for a long time detracts from the curb appeal of your home, so taking advantage of an RV storage facility makes sense.
- Organize the Space
Keeping your RV in your garage or yard might seem like an ideal solution, but it likely takes up more space than you’d like. They are taking up more space than they would be able to use for other things, such as a car, bike, or lawnmower. When you use an RV storage building, you can solve your space problem.
- Enhance Vehicle Longevity
You can also protect your RV from harmful weather conditions and other factors that can damage its mechanicals by storing it in an RV storage facility. Having your RV stored indoors protects it from rain, sun, and snow, so it’s ready to go when you need it. Taking your RV to a campground will also make it safer from insects and rodents.
- Optimize Security
It’s in your best interest to protect RVs for your clients since they may be one of their most significant investments. RV storage facilities have a much higher rate of security than storing them at home. They are safer alternatives than storing RVs at home. The most reliable facilities will have round-the-clock video surveillance systems.
Essential Factors for Any Storage Facility Business
In general, the storage industry is expanding. However, due to a lack of space, many people have downsized their belongings. In turn, people end up storing some things in storage. RVing and boating are experiencing the same problem, especially after the recent boom in demand.
Like when you would build a storage shed, you shouldn’t guess this endeavor. First, it’s essential to know if your area has a high demand for boat and RV storage. Having a feasibility study conducted can help determine this.
Next, you need to determine which kind of vehicle storage to offer if the market is viable. It is possible to create a simple parking area on gravel, grass, or dirt; or add pavement and covered parking. Buildings dedicated to storing boats and RVs are another option. A larger door and a larger size are typical of these facilities.
It isn’t a new concept, but vehicle storage is becoming more refined. As a result, the needs of boat and RV storage tenants are very different from those of traditional storage customers.
Most people like to store their boats at facilities that provide extended hours of access and amenities like wash bays and dump stations. You should make some adjustments to your site if it lacks security for these tenants.
Keep in mind that these metal storage buildings can offer camper storage and trailer storage, too. So the possibilities for profit are virtually endless within these self-storage buildings.
Buy a Storage Building from Storage Building Central
Together, we’ve learned all of the great benefits owning a self-storage business for RV and boat storage can bring. Still, getting started can be daunting! So please leave it in the hands of industry experts with 20+ years in the industry. Storage Building Central specializes in self-storage buildings, climate-controlled storage buildings, and so much more! You can trust a team of dedicated professionals to quickly and efficiently build you the metal building of your dreams.
Call Storage Building Central at +1 (844) 315-3151 for storage building prices for everything from camper storage and trailer storage to RV and boat storage. As a leading provider of storage buildings, you will receive excellent after-sales customer service. With over two decades of experience, Storage Building Central will help customize your metal storage buildings to fit your needs and budget! That way, you can start making money with this excellent storage business.