As a start-up, you have to consider many crucial factors before deciding on your business model. One of the most important decisions is whether or not you would like to offer storage services for people’s goods. If so, then there are a few things that you need to know first. In this article, we will discuss four crucial considerations before starting a self-storage business.
Insurance
Before you can open up a self-storage business, you will need to get the right insurance. The type of insurance that is suitable for your needs depends on whether or not it is public storage space or private unit storage. If people are using your facility as their own personal storeroom, then they would have to pay an affordable rental fee in order to use it which means you must insure against any potential damage caused by its users while making sure nobody uses your facilities without paying for them when renting out individual units.
This kind of policy usually comes at a cost and has many limitations attached so make sure that this fits with what you intend to do if offering such services. Also, regarding insurance for storage facility, it’s important to buy one that covers vandalism, fire damage, and theft. Another important type of insurance is the employer’s liability whereas you will need to get this if you are hiring employees for your self-storage business.
This policy provides legal protection in case an employee gets injured or contracts a disease while working on your site which is particularly useful when employing casual staff with limited knowledge about safety procedures. Don’t forget to check the small print of any insurance policy before signing on the dotted line.
Location
The location of your self-storage business is one of the most important factors. You need to make sure that you are opening it in a place where there will be a demand for storage services. The best places would be near postal offices, bus stops, and train stations. This is because people often send items via post or buy tickets on their way home from work, which means they can drop off or pick up goods at your facility before heading home after work hours.
Also consider whether there are any nearby events like fairs, exhibitions, or conventions as these attract many visitors that may need storage services during the event. The location of your self-storage business also plays a big role in its accessibility and security. When choosing a place for your facility, make sure that you choose one with good roads leading up to it and plenty of parking space around it. Also, take into account whether there will be any public transport nearby as this would influence how accessible your location is for potential customers.
With regards to security, always try to position yourself close enough so that people can walk from where they are staying at their destination easily but far away enough so that not too many thieves know about your presence or have easy access to break in when nobody’s watching.
Security features
In order to prevent people from stealing your goods, you need to have the right security features in place. The types of security features that are available can help keep both unauthorized users and thieves at bay by controlling access through electronic surveillance systems like alarms, CCTV cameras with monitors which transmit images back to a base station where they can be monitored throughout the day or night as well as keypad entry doors.
Access control is essential for commercial facilities such as self-storage businesses because it helps manage who has permission to enter your facility and when while also preventing burglars from gaining access even if they do find their way into your premises. Also, consider having an automatic gate system that opens up whenever someone wants to drive out or drive in which saves time spent waiting for someone to arrive.
Don’t forget that security doesn’t have to be expensive or complicated as simply having good lighting around your self-storage business at night can go a long way in keeping thieves away and deterring them from trying anything on with your property which is particularly useful if you intend running the facility yourself without hiring employees.
Marketing plan
To get customers to visit your self-storage business, you need to have a well-thought-out marketing plan in place. This involves planning how you are going to market yourself and the facilities that you offer while also deciding who is going to be responsible for carrying it out. You should decide whether or not this would involve hiring an intern from a local college or if this job will need doing by someone full time with their own set of skills and experience when considering where in your budget advertising might end up taking up most of its space.
Regardless of what type of storage facility they intend to visit, potential clients want reassurance when making such big decisions about storing personal belongings at another person’s site so make sure that any promotional literature contains all necessary information about opening hours, rental fees, and insurance cover.
Make sure that you have thorough knowledge about the legalities involved in the self-storage business before setting off on your journey because ignorance won’t be enough to protect you if anything goes wrong with your venture which is why it’s recommended to seek out expert advice from people who are already running their own storage facilities so they can give an honest account of what needs doing when getting started.
Marketing plans consist of five steps which are identifying your target market, analyzing what your competitors are doing, creating a slogan and advertising strategy as well as devising an effective budget.
There’s no point in having the best storage units on offer if not enough people know about them so make sure that you have got all angles covered before starting out by getting hold of some promotional materials to hand out at local events or meeting up with industry professionals who could be a good source of information about any new trends emerging within this field.
The self-storage industry is booming. It’s predicted to grow by about 20% in the next few years, according to Self Storage Association president Carol Spieckermann. This means there are a lot of potential opportunities for entrepreneurs looking to enter this market and make a profit. But before you can do that, you have some serious planning to do! Are you considering these 4 crucial factors? If not, it could be time to reevaluate your plans and start from scratch with an u
