The Benefits of Investing in a Portable Storage Business
Owning a business is a dream for many. Running your own company can help to provide you with financial peace of mind and prosperity in a world of economic uncertainty. It can also be a path to independence and flexibility. If you’ve been considering your own venture, the storage industry could be a consideration. This niche offers a wide variety of advantages to owners. Take a look at just some of the benefits of investing in a portable storage business.
Scalable
Portable storage is different from traditional self-storage lockers. This business model relies on individual portable containers for customer storage. Therefore, you can start your company with a smaller number of units, then expand as your income grows. In addition, it’s possible to rent or lease the containers if you don’t have the upfront cash available to purchase them outright.
In Demand
The history of self-storage is an interesting one. This service came about, as most do, out of a rising need. People from all walks of life have a need to store their personal overflow. They may downsize when the kids move out of the house. Perhaps they decide to relocate for a new job, yet don’t want to haul all of their possessions. Even small commercial businesses use storage units to manage excess inventory. Thus, the trend of storage units remains in demand, unlike other sectors of the building industry. There continues to be a market for this type of business.
Higher Rates
Consumers will pay more to rent portable storage units than traditional lockers. You can also receive pick-up and delivery fees as part of the overall cost for these units, adding another income segment. They can also provide you with an additional revenue stream if you already run a traditional storage business.
Larger Customer Base
With fixed unit storage, you’ll find that your customer base is within a relatively small geographic area. That’s because clients need to be able to access their storage units easily and efficiently. A portable storage business lets you grow that area. You’ll have customers coming from further away for the portability of your storage units. Therefore, you’ll find you have a larger customer growth, which translates to higher profits. You’re also likely to attract a broader variety of customers with a portable storage business. For example, commercial clients have lots of uses for portable storage. You’ll see more than the typical residential base when you expand into this market.
Less Competition
Industry demographics continue to forecast growth in the self-storage industry. However, if you really want to stand out from the competition, offering portable units can help you to do just that. There are fewer portable self-storage units in most geographic locations, so your business will definitely appeal to segments of the customer base who have a need for these types of units. Less competition helps you to stand out from the crow. Be sure to have your company name and logo printed on your units. This gives you long-range advertising, allowing people from all over to discover your company. They’ll know who to call if they’re in need of portable storage.
Growth-Oriented
A portable storage business is versatile and allows for growth. As already noted, you can start with a small number of units, then add on as demand grows. You can also consider branching out into related businesses, assuming that such zoning is permitted in your location. For instance, you may want to consider some sort of shipping facility for those customers that need to send some belongings onto their next destination separately. A transport business may also be relevant to consider. Perhaps storage of large items like vehicles might also make sense.
These are just some of the benefits of investing in a portable storage business. The specifics of your company will depend upon your resources, location and available space. However, as you can see, this type of business is typically a strong investment.
