Self Storage Business - Planning for Growth in 2013
Self Storage for Business is a market segment that should not be overlooked in 2013.
The Self Storage Business continued its growth trend throughout 2012, but will it continue in 2013 and beyond? Conventional wisdom is that the primary markets for self-storage are families moving from one house to another, homeowners that are downsizing or people living in multi-unit housing such as apartments and condos. While the Self Storage Industry has often catered to the business community, it has not always accounted for a significant percentage of Self Storage Facilities' occupancy.
Self Storage Business tenants have traditionally been thought of as people working from home, manufacturers' representatives that need to store samples or equipment or very small businesses with limited office space to store files. But for a quality self storage facility, in the right location and with the right amenities, Self Storage can attract businesses both big and small.
MakoRabco has developed Self Storage Facilities for many customers where business storage accounts for much more than 30% of the total tenancy.
There are dozens of reasons why businesses utilize Self Storage Facilites. Self-Storage meets the needs of businesses that are expanding or are temporarily overstocked. Businesses of all sizes need space for excess product inventory, equipment, promotional material or to archive documents. Some businesses just want to free up valuable office or work space for more employees. Short-term leases are also needed by companies that are renovating, relocating or redecorating.
There are also plenty of reasons that businesses are looking for more long-term self storage leases.
Many businesses are turning to Self Storage facilities for long-term file storage. They may need a secure place to store medical or legal records since many organizations must keep legal or confidential files for 7 years or more. Others may need to store warehouse equipment or excess inventory. Other businesses may turn to self-storage facilities as a cost-effective, long-term solution for a primary product warehouse facility that fulfills orders.
Given the proliferation of online businesses sprouting up in every type of industry, the need for product warehousing and fulfillment facilities is higher than ever. Self-storage facilities offer an extremely cost effective way for these online retailers to manage their inventory.
What special amenities will these self storage businesses customers demand?
Businesses of all types and sizes look for a facility that can offer easy access, convenient office hours and short-term rental agreements. These customers may use the storage facilities more often than residential customers, so they benefit from extended operating hours, convenient loading areas and better equipped storage units that are bigger in size.
They may have special requirements such as electrical outlets in the units, Internet access and possibly the ability to send and receive shipments from the front office.
Most of your business customers will need climate-controlled units to preserve documents, products and materials.
Is your self-storage facility located near a commercial area or in a business park? Is there evidence that the businesses in your area would benefit from additional storage or warehouse space? We advise you to do your research to see how much demand there is for business storage in your area and in what industry segments. If you find that there is market demand, this is an extremely lucrative market to focus your self storage business growth in 2013.
MakoRabco is the Leader in Self Storage Engineering and Construction. We have developed thousands of Self Storage Facilites that are designed to meet specific market demands. We'd like to work with you develop your self storage facilities for the quickest returns on your self storage investment and maximum profit.