Storage Rental: How to Succeed in This Profitable Business

The progressive increase in apartment prices has meant that more and more people have to switch to smaller apartments. In recent years, this phenomenon has led to the growth of Rental of storage spacea very profitable business that you can pursue without too much investment or undue dedication.

This fact, in addition to the fact that the vast majority of the apartments for sale do not include a storage room, has meant that a exponential growth of the industry of storage room rents in recent years. Although this business model arrived in Europe in the 1980s, the Spanish Self-Storage Associationonly in the last decade has it fully entered the Spanish market.

Previous considerations when starting a storage space business

The Ubication

Location is a fundamental aspect of being successful with a storage rental business. The premises must be located in a Residential area and easy accessbut at the same time be large enough to accommodate a minimum number of storage rooms that will allow the business to be profitable.

Also with one small parking lot or loading and unloading area It would be a plus to be considered by certain customers who want to store heavier goods in the storage rooms…

design and construction

After the premises have been chosen, the design and construction of the storage rooms is one of the most important aspects before starting this business. In this task you will need Find the most profitable formula without sacrificing quality and the good image attributed to a store where customers can store some of their most valuable goods.

security and customer service

Security is one of the conditions that customers value most Rental of storage space. Because of this, you need to focus your investment on 24-hour video surveillance systems, alarms and sensors with direct connection to the police, security locks, etc.

Even though companies that specialize in storage rental do not take too much time to work once they are formed, customer service is one of the aspects that makes the difference. This attention can be face-to-face or over the phone, but you must give a quick response to customers They might encounter a problem when trying to get into your storage space.

Fares, timetables and conditions of use

After all, when designing the business plan for a storage space rental company, it is important to correctly define the tariffs, opening hours or terms of use. In this sense, Spanish companies dedicated to this sector offer the possibility of renting a storage space from at least 15 days.

Also, prices may vary depending on the size of the room several options and models of storage rooms They can help you get more customers. Finally, the opening hours are another important aspect: you can open 12 hours a day during business hours … Or opt for a 24/7/365 model where your customers can go to their storage rooms when it is suits them best.

How much does it cost to open a storage business and what is your return?

Depending on the size of the room, location, or the investment you are making in building the storage rooms, the initial expenses you need to make will vary significantly. For example, I need a storage roomone of the brands that operates in this area in the franchise model envisages a minimum investment of around 40,000 euros, including an entry fee of 12,000.

But what is the annual return on a storage space business? Some expert voices set the average profitability between 5% and 7%a significant amount considering it is a business where maintenance and labor can be reduced after taking the first steps as an entrepreneur.

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