Any time a significant portion of the population is moving into urban areas, either because people are actually moving or because the region is transitioning into the ‘urban’ category, the need for storage units spikes. That means great growth opportunities for a self-storage brand that’s already gotten traction in the area. You don’t need to build more units far away, either. Just look for these factors:
Is there a college, military base, or senior homes nearby?
Whenever there’s a reason for people to move and acquire new, large belongings, the demand for self-storage will follow. College students are an easy market for storage units, especially if they have a large out-of-state population, because they might not be able to take their furniture and growing collection of belongings home for the summer.
Military bases also have a lot of travelers, as people move onto the base into homes that are smaller or already furnished. Single people staring military tours are likely to store all of their belongings because they don’t need any home or apartment. Senior homes can also provide steady business, since people need space to store antiques, old possessions, and more that they can’t fit into smaller residences.
Do the homes have limited storage space?
Older homes are smaller than recent developments. Square foot by square foot, they also have less storage space because they were built in eras when people owned fewer things. So find space near older neighborhoods, which also tend to have more lenient rules on commercial lots and may have lower property costs. You can also find extra traction in areas that don’t have the right soil or climate for basements, since that reduces residential storage even more.
Identify the large-scale market factors that make different towns and regions have a higher demand for self-storage. That makes it easier to either consistently maintain or expand your business. For more ideas, go to Right Move Self-Storage.