What is Self Storage Industry?

June 08, 2021 | Team StoRegister
Self Storage Industry and StoRegister

Self Storage is a space allowed to an Individual, Business, Student, Military Personnel, Charity, etc to store their clutters on rental basis.

Before we dive deep into the industry, here is a quick historical information about Self Storage which entered the US market during 1980s and later, to UK and European market after 19th Century. According to a recent survey, Self-Storage industry is referred to as one of the fastest growing industry in the world worth about $100 billion USD.

Initially, Self Storage industry was only dealing with Traditional Self Storage units and as the market evolved from time to time, new business models were introduced, and which is being set as most trending services that any individual would be interested to invest.

The growing Self Storage industry has a wide scope of business opportunity in the below mentioned verticals:

  1. Traditional Unit Storage
  2. Container Storage
  3. Garage Storage
  4. Boat and RV Storage
  5. Portable Container Storage
  6. Box / Pallet Storage
  7. Vault Storage
  8. Warehouse Storage
  9. Mailbox Storage

Earlier, most of the Self-Storage Businesses adapt to any one of the above listed business verticals but in the current market trends Self Storage Operators are looking to offer a wide range of storage services by offering a combination of storage types to attract their clients and increase the revenue.

What is the need for Self Storage spaces?

There are various reasons why people are in need for Self Storage spaces to store their belonging in a clean and secured place.

  • People mostly look for self storage spaces when they plan to renovate the house or moving to a new house or planning to sell the house or they just want to make more space at home, by removing unwanted items and store in a secured place.
  • Some people may have to travel to different city or country on a business trip or some may go on an adventure vacation may will need a place like self storage facility to store their belongings.
  • Self Storage facilities not only deal with household items and business needs but they also cater to storage of vehicles. Large Trucks, Recreational Vehicles, Boats can be parked in the self storage facility on rental basis.
  • Businesses may find self storage as a convenient place to store their raw materials, equipment’s, documents, unused office furniture, etc for a short term or long term as per the need.

People and Businesses are attracted to self storage facilities because of the convenience like rent a space for short or long term without any obligation, 24/7 access to the facility so renters can remove or dump few more things, clean and secured spaces to protect against any damages, etc.

Self Storage industry do offer insurance coverage for the items stored in the facility, transport to bring the items to their facility and when you want to take it back to home or office, Packing items, other services like cleaning, etc at a minimum cost.