Self Storage Add-Ons That Add Up to Profit
Ancillary Self Storage Products That Add To Your Bottom Line
If you have a financial stake in a self storage business, either as a business owner, partner, manager or investor, your goal is obvious: increase self storage profits. Whether you're starting a new self storage business or thinking of expanding your current business, the following self storage profit centers can provide rental and retail sales opportunities that bring welcome self storage ancillary income to your business.
RV & Boat Storage Amenities
If your real estate is limited, forcing you to choose between standard self storage or boat and RV storage, standard self storage would generally be the better bet, since it uses less space and in urban areas, commands a higher rental rate per square foot. However, if you are located in an area where boat and RV use are high, such as near water attractions or camping facilities, you will find Boat & RV storage will deliver the revenue you are looking for. Boat & RV owners, who can afford these high ticket toys are looking for facilities that are near their playgrounds and are willing to pay for the amenities that make it easier to enjoy their expensive recreational vehicles. You will attract these high end customers with amenities such as wash bays, dump stations, electricity hook-ups and advanced security.
Climate Controlled Storage
Climate controlled storage is the perfect way to attract new customers while also charging premium self storage rates. By keeping storage unit temperature and humidity levels within prescribed limits, climate controlled storage helps customers protect their belongings from environmental damage. Fine furnishings, important documents, valuable artwork, expensive musical instruments, and sensitive electronic devices and audiovisual media such as DVDs, CDs and vinyl records can be irreplaceable — or very expensive to replace. For these reasons, many customers are willing to pay as much as 35% more for a unit that features consistent temperatures to prevent warping or curling and balanced humidity to discourage rust buildup, mold and mildew growth.
Climate control capabilities can either be added to your existing storage units or built into newly constructed units.
Wine storage units are specially designed to keep customers' prized vintages safe from conditions that are detrimental to maintaining consistent wine quality. Proper temperature, humidity, and air quality are required at all times to produce wine cellar conditions. Again, these are high end customers with specific needs that are willing to pay more than standard storage fees in order to enjoy their hobby. If this is a market you are interested in consider adding amenities that the most discriminating wine connoisseur will be looking for starting at the exterior of the building. Wine enthusiasts will want an inviting environment to enjoy their wine as well as store it. Some wine storage facilities offer mahogany lockers that come in different sizes to accommodate up to 16, 32, or 64 cases of wine.
Wine storage should be kept at approximately 55 degrees and 70 percent relative humidity. Wine sellers may need to verify the history of how the wine was stored and may need detail reporting showing temperature and humidity levels for the entire time the wine was stored in your facility. Consider a back-up generator that ensures continued electricity in the event of a power failure.
Private bank-like vault systems can attract high-end customers that need high-end security for their valuables. Beside offering full vault systems, you could offer a large array of safety deposit boxes, in many sizes, to accommodate coins, important papers, heirlooms and other valuable items that deserve special protection. These security conscious customers will want to know that you have employed advanced security systems for the facility and restricted access to vault systems.
Many people like to collect guns but do not necessarily want those guns in their homes. This is a great specialty offering you can easily create for hunters and gun enthusiasts. Rather than renting full storage units, these customers may want to rent individual locking gun cabinets to accommodate their collections of rifles and pistols.
Cell Tower Leases
You might also consider leasing part of your business property to a wireless provider for the purpose of building a cell phone tower to increase the company's capacity to offer cellular service to its customers. This can be a potentially lucrative enterprise for your business provided you have the lease provisions reviewed by a real estate attorney or other specialist before signing.
Rental trucks and trailers can help bring in additional revenue if you have sufficient area to park these vehicles. One advantage of this potential aspect of your self storage business is that no new construction is required, since rental trucks and trailers can be parked outdoors on a section of your lot, rather than requiring a parking structure. This can help you minimize development costs, thereby increasing business profits. Offering truck rental will add revenue as well as add to your image as a full-service solutions provider.
Every self storage customer needs supplies such as cardboard boxes, packing materials, tape, labels for boxes, scissors, screw drivers and more. Why should the hardware store get that business? Again, this is another opportunity to increase profits while increasing the services you can provide to your customers.
These are just a few ideas - we have more. Let MakoRabco show you how to increase self storage profits by providing the right mix of self storage amenities to your customers.