The Ups And Downs Of Managing A Self Storage Business

Business Blog

Space is something most of us wish we had more of and when it comes time to store things we want to keep but don't really have space for, self-storage can sometimes be the best answer. Because so many people use self-storage units as a way to create some space for belongings, this business has exploded in recent years. But how do you make self-storage a successful business venture? There are some basic things to consider.

Location, Location, Location

It has been said that location is key to many things in life, and your business is no different. Buying r building a storage facility is fine but if it is in an area that is hard to find or is hard to get to, it will not survive very long. You need to look at the area that you are considering and determine if it is easy to get to, in a location that people travel through regularly, and if people are comfortable in that area. If you put your facility in the middle of nowhere or in a high crime neighborhood, it is not going to be as successful as it would in a better location.

Hours Of Access

One of the things you might not have considered is the hours during which people can access their storage unit. Controlling access to the units is a great idea from a security standpoint but keep in mind that people like to be able to get to their lockers anytime, night or day. A key card system or a system that uses a code number are just a couple suggestions to allow people to come and go as they need too. It does not mean you have to be there all the time but with a good security system, people can get to their stored belongings and you can track who has come and gone from the property. The more accessible the property is to people storing items there, the more likely people are to consider using it.

Dealing With Defaults

One of the harder parts of running a storage business is dealing with units that have not been paid for. It is not uncommon for someone to skip the payment on their storage unit if their budget is tight on month. Collecting from them is often just a matter of locking them out and send them a notice to pay their bill but in some cases, they don't respond and you are stuck with a unit filled with things that you have to do something with. The most common way to deal with this is to auction these units off. It is often the only thing you can do to get the unit emptied out and there are people that will buy the contents to sell in a second-hand store or similar business and often they pay enough to cover your losses on the unit. ​

Contact a facility, like Belmont Self Storage, for more help.


18 February 2018

Creating A Great Work Environment

Have you ever thought about the work environment your employees live with each and every day? Although it might not seem like the most important thing you have to worry about, being able to identify and resolve business environment challenges is paramount to your success as a business owner. If your environment is a positive, uplifting place, your workers will be happier and more productive, which creates a stronger bottom line. Check out this blog for great information about creating a decent work environment. You won't believe how easy it is when you really focus on what is important each and every day.