Why get involved in Self Storage?
Involvement in the ownership of Self Storage units has become ever increasingly popular with many new businesses and entrepreneurs are looking to move into the industry. The possibilities that come with owning a Self Storage business are vast and here are some of them:
- 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 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.
- 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.
- 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.
The future of self storage is extremely promising as the turnover for smaller storage companies in the UK was up to 7.5%, which was an increase on the 4% for last year and the demand for storage units is very high as the average occupancy increased from 68% to 71%, so involvement in owning Self Storage is becoming very popular. Even more so, the statistics for owning Self Storage are all very positive.
- More than 400 companies operating self storage facilities in the UK.
- Self storage industry generates about £335 million and has over 250,000 customers in the UK.
- The average number of units per facility in the UK is 534, 186 in Australia and 566 in the USA (this is of course dependent on the size of the facility being used).
So, why not invest in Self Storage and see the benefits for yourself! If you have any questions or queries, don’t hesitate to contact us here at Partitioning Services limited and we’ll be happy to help. Alternatively, you could check out some of the other pages on our website, such as the building regulations page, so you can get an insight into the industry and what is required from you to operate your own centre.