5 Reasons Why You Should Invest In Self Storage
In recent years, the self storage industry has become increasingly popular across the UK & Europe as more and more businesses and entrepreneurs are now beginning to invest and develop their own storage businesses. The reason for this is because of the vast benefits that entails operating a storage facility. Therefore, here are a few reasons for why you should consider getting involved within the industry:
- Return on investment - Self storage can turn a relatively low-yielding real estate asset and upgrade it to a higher yielding, more stable asset.
- Low facility maintenance - With storage units, there will be low customer traffic and they will be maintenance-free so office staff can cover the minimal housing duties.
- Allows you to use underutilized space - Make money on spare space that you have within a facility by using self storage.
- Low staff requirement - Less staff would be needed to operate the facilities, most are run with 1-2 sales staff during the day and with a security guard at night, this way you save money on the amount of people you employ.
- Self Storage is useful for a variety of different sized items as units can be a multitude of different sizes, ranging from 10 sq foot units to bulk units of anything up to a 1000 sq foot. This allows you to cater for a variety of consumer needs and requirements.
So now that you have an insight into the benefits that self storage can offer, here are a few facts to help give you some more information before you begin to think of investing.
Here are the statistics to show how self storage is performing in the UK:
- The occupancy rate for customers renting self storage units has risen from 73.1% (in 2015) to £75.8% (in 2016)? This therefore indicates that the demand for more units is growing faster than the supply.
- The UK currently has 47% of the European self storage market.
- The annual turnover increased to £540 million for 2016 compared to £440 million in 2015. .
If you would like more information, please click here to head over to the Self Storage Association website to learn more.
It is also important to choose the right self storage construction specialists to help you design your own perfect facility. With over 15 years experience in the industry, PSL would be more than happy to guide you and offer you insight into the industry and thanks to our expert team of builders, we can install high quality sturdy and uniformed units to assist in providing a professional centre for your customers.