How to Start a Storage Shed Rental Business
A storage shed rental business provides a solution for individuals who need a place to keep their belongings temporarily. Typically, people rent self-storage sheds when space is limited during a renovation or move. According to the Self Storage Association, there are 2.2 billion square feet of storage shed space in the United States. Also, 90 percent of self storage is managed as a small business. Starting a successful storage shed business requires finding a central and visible location where you can attract renters.
Other People Are Reading
Instructions
-
-
1
Determine if you want to start a business that provides portable units, stationary ones or both.
-
2
Write a business plan. Research the storage shed industry in your region. Find out who your competition is in the market, and formulate your business plan to compete. Use your research and analysis to draft a mission statement describing the purpose for your storage business, a description of the storage shed services you'll offer to customers, an anticipated financial projection, how much you will charge to rent your sheds, how you'll handle items left behind by their owners and the equipment and supplies you need to get started and grow your business.
-
-
3
Register your storage shed rental business at the state and federal level. Contact your secretary of state to register your business name and incorporate your company. Contact your state's small business administration for the necessary building permits and licenses needed to house storage sheds on a property. If you provide portable units, talk with your motor vehicles department about licenses and insurance. If you hire employees, apply for an employer identification number with the Internal Revenue Service. Hire a bookkeeper to set up an accounting system and an accountant to ensure the proper tax documentation is filed on time.
-
4
Choose a location to start your storage shed rental business based on your market research. This type of business should be located near residential neighbors and areas where homeowners frequent. If you want to cater to businesses, find a location that is convenient for business owners. Determine if you want your storage shed units to be outdoors or indoors when selecting the best location for your facility.
-
5
Lease or purchase a storage facility. You may need to invest in trucks to transport units if you offer mobile storage sheds. Consider either purchasing or leasing vehicles. When leasing, dealers often provide maintenance services as part of the contract.
-
6
Keep your storage shed business gated. Hire a security company or guard to protect your customers' belongings.
-
7
Promote and advertise your storage shed rental business through the Internet, newspaper and fliers. Launch a website for your business. Provide information on your company and how your services stand out from the competition. For example, tell the public that you provide mobile units or air-conditioned units. Describe in detail the security procedures at your facility, and provide rates and contact information. Hire a Web designer to help you if needed.
-
1
Tips & Warnings
Consider purchasing a storage shed franchise in your area if you have the start-up capital upfront to put down on a contract.
State laws for business vary. Hire an experienced attorney to assist you in setting up your business.
