Start a Self Storage Business
People have too much stuff. That shouldn't be a surprise to anybody who has ever tried to move, just to suddenly realize how many things they have but don't need. Most people have a hard time parting with items that hold some kind of memory. Others are using self storage to hold their possessions for a period of time while they're living in smaller quarters. Whatever the reason, the self storage business is booming.
Instructions
1. Decide how much money you can invest to get started. While the process is straightforward, you do need to rent a large space and build the interior units before you can start renting them out and bringing in a profit. This may take a few months in which you will be investing without seeing any return.
2. Research the type and amount of insurance you need for the business depending on your area and city laws. You may need to provide your own insurance or give renters the choice of paying extra for it.
3. Research the competition. The investment is big enough that you need to make sure you will profit from it. Large cities such as New York, where apartments tend to be small, are a great market for self storage units, but deciding to start your business in a neighborhood that is already saturated with storage centers may be damaging.
4. Evaluate your options. If you live out of the city, it may make more business sense to buy some prefabricated storage buildings rather than renting out a large space.
5. Review the official website of the MiniCo, Inc. to find out about the industry and what is involved in owning your own storage business, including market analysis, investment strategies and construction costs. The website also offers opportunities for networking with other professionals in the field, which is a great chance to ask questions and explore the field before you decide to start your own place (see Resources below).
Tags: self storage, large space, Self Storage Business, Start Self, Start Self Storage