How to start a self storage business. in this article: planning your business starting your business community q&a 19 references owning a self-storage business can be very lucrative. you are responsible for the personal property of your customers, so you need to make sure that you are prepared to manage that obligation.. Self-storage is a huge and growing industry, with nearly $32.7 billion in revenues for 2016 and estimated to grow at 3.5 percent annually through 2021.. Level of construction. the self storage association reports that a typical facility occupies 2.5 to 5 acres. facilities with security systems, climate control and other state-of-the-art features typically have 60,000 to 80,000 square feet of net rentable space and cost between $45 and $60 per square foot to build..
The myth that you can build a self-storage facility in the middle of nowhere and fill it up needs to be exposed. self-storage relies on people ' people who need to store stuff. in the absence of population, you have no demand.. True commercial development of self storage began in the late 1960s by the pioneers of the self storage business, who recognized a growing demand for residential and commercial storage.. I would always tell someone new in the self storage business that they should purchase an existing facility first. get your feet wet, learn the business, then if you really like it, build your.
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