Converting a large building or warehouse into a storage facility can save you time and money. That's not to say that is always the case, below we analyze some pros and cons of a self storage conversions.
Self storage facilities with better managers tend to have higher occupancy levels and rental rates.
Choosing a self storage manager is a critical hiring decision for facility owners. A good manager will affect your bottom line more than any other factor.
Few industries are like the self storage industry in that the success or failure of a location relies so considerably on one or two employees - the property managers. Finding a qualified manager can be exhaustive and usually is a lengthy process if done right.
Building a storage facility can be an exciting new business adventure to take on, even if you have built multiple facilities in the past. According to Bloomberg, 'The U.S. self storage industry generated more than $32.7 billion in revenues in 2016.'
If you're wondering whether to sell moving and packing supplies at your self storage facility, the answer is YES!
Besides offering this service to your customers, it also generates another (high margin!) revenue stream.
One of the most important decisions for any self storage facility owner or manager is finding how much to charge for your units. It's important to know how to set your rates, when to change them, how much to change them, and how to break the news to your tenants.
Do you have grainy or pixellated pictures on your website? Self storage photography is important! The photos on your self storage website or marketing materials will be the first thing potential customers see before visiting your property.