Self Storage Building is Booming. How Can You Expand Your Self Storage Facilities to Grow With it?
Growing Market Demands
The self-storage industry keeps expanding and evolving well beyond simple storage units for personal items. In our last blog article, we discussed the growing need for self-storage in the business sector. Read more about this growing market and why you might want to expand your self-storage facilities to accommodate it.
Other growth opportunities include storage for recreational vehicles and equipment that are not used all of the time, like boats, RVs, snowmobiles, luxury cars and more. See our article about Storage for Boys and Their Toys. More customers are demanding green facilities, which present more opportunities for the self-storage developer. If you do not currently offer Climate Controlled units, adding these will open up new markets to you. In short, the profits will go to the self-storage owners and developers that keep up with the growing trends and market demands.
There is no doubt that growth opportunities abound for the Self Storage Industry and self-storage continues to be as profitable as ever. So how can you expand your existing facilities to take advantage of these growth opportunities?
Image is Everything. Update Outdated Self Storage Buildings.
As the Self Storage business has grown, customers have become more aware that there are many options for storage in their area and will compare storage facilities amenities, cleanliness, access, security and rental rates. If you don’t look good, customers won’t be looking at you.
Older facilities are, more often than not, losing market share to newer facilities that are more upscale, aesthetically appealing and equipped with amenities like climate control. These newer facilities may be more expensive to construct, but the land continues to be the highest percentage of the budget and the higher rents that these newer facilities can demand make them a sound investment.
Not only will you increase occupancy rates with a better looking facility, you will save on maintenance costs. Many improvements may even qualify for a tax rebate. There are so many materials and finishes available in self storage construction that giving your existing facility a facelift is not going to be as daunting as you night think. Mako Steel has updated thousands of existing self-storage buildings and would be happy to help you develop a plan to cost effectively update your existing facility.
Want more Customers? Add Rental Capacity.
If you are near full occupancy, now is the time to expand. Real Estate and construction costs remain low, making this a great time to add capacity to your existing self-storage buildings.
If you have adjacent land, consider adding a multi-story self-storage building with climate control. Other cost effective and relatively quick options for adding rental capacity include portable mini-storage units, AGRI-housing, Boat and RV Canopies or Boat and RV Storage Buildings.
When you can’t build out, build up!
What happens if you have maxed out the land that your single story self-storage buildings are on?
Mako Steel recently announced Double Up, a mezzanine structural concept that enables you to cost effectively increase capacity of your single-story self-storage buildings to build up without impacting your current tenants or storage capacity.
There is no need to tear down your existing self-storage buildings in order to add capacity. Mako Steel creates additional square footage on an established self-storage site by designing a Rigid Frame Mezzanine that can span two existing, single story, self-storage buildings. We then construct another self-storage building on top of them. The result is additional rentable space for the self-storage operator without the need to tear down the existing self-storage buildings.
Find out more about the Mako Steel Double Up Concept. Click on the Double Up link below.
Mako Steel is the leader in Self Storage Building and is the only Self Storage Building Company with experience designing, engineering and constructing DOUBLE UP sites. Using the highest quality building products and unmatched customer service, Mako Steel’s team of experts will help you design, engineer and build your self-storage project on time and on budget. Get more information about our FREE SITE DESIGN AND ENGINEERING SERVICES.