How to Start a Storage Company

Storage buildings offer alternatives to individuals and companies that have a lack of space to store important items.

Many people are looking for a place to store things of significance that they no longer have room for. Many companies are looking for ways to store important files and documents that would otherwise clog up their offices. That's where the storage industry comes in. With the right amount of knowledge and a properly operating storage facility, you can break into this exciting and profitable market.

Things You'll Need

• Start-up capital
• Licenses and permits

Instructions

1. Learn as much as you can about the storage company business. Trade groups such as the Self Storage Association and Inside Self-Storage offer articles as well as annual publications that are a must read for new entrants in the storage company business. These publications offer insight in the areas of management, marketing, construction, and security and access, to name a few.

2. Calculate how much money you have to invest in the company. Compare your start-up capital to the cost of starting a storage company, which will also include licenses, permits and insurance. You can visit your local secretary of state's office for a list of licenses and permits needed for your area. Be sure to include money to rent or purchase enough space to house as many units as you need. You should include the cost of labor for construction of the units as well if you are not purchasing a pre-existing storage facility.

3. Perform a competitive analysis to determine the strengths and weaknesses of your current competitors. This will help you determine a course of action in areas of marketing, pricing and location.

4. Screen and hire employees. You will need office management if you don't want to do this yourself. You will also need security and maintenance workers available around the clock for those unforeseen instances, such as break-ins and equipment malfunctions.

5. Advertise your company. Once you have completed construction and purchased all the necessary equipment, there are a number of things you can do to promote your company. Promotional opportunities range from taking out ads in the paper to handing out business cards and fliers. Furthermore, it would be beneficial to take out a listing in the yellow pages.

References

• PowerHomeBiz: How to start a self storage busienss

Resources

• Self Storage Association
• Inside Self-Storage