How to Own a Storage Unit Facility

by Michael-john Wolfe; Updated September 26, 2017
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Owning a storage unit facility can be lucrative and rewarding. Storage units can provide a consistent stream of monthly income for the owner and requires little work once it is operational. Most storage units don't require employees and usually the owner does not have to remain on site.

Step 1

Find the right location, usually a large, flat plot of land that is close to new construction. Storage unit businesses tend to thrive in cities and towns growing in population. This growth leads to families moving into the area and this movement often results in a need to store excess items. Close proximity to a lake or recreation area will also help keep storage units full with boats, bikes and motorcycles.

Step 2

Find a builder who has experience building storage units and ask to see samples of his or her work. A simple Google search for the term "storage unit construction" will garner plenty of companies that specialze in this type of construction. The best part about most storage units is that that they don't require plumbing, heating, air conditioning or other amenities that are typical in a commercial building. It is a good idea to fence your property and install a gate with a coded entry system. This system will allow customers to enter their pass code and drive through the gate -- gaining access to their storage unit 24/7. This will also keep you from having to keep an employee on site at all times.

Step 3

Advertise your storage unit facility in the yellow pages as well as online listings on such popular search engine websites as Google, Yahoo and MSN. Hand out fliers to the contractors of new construction residences in your area as well as to homes in more affluent sections of town. Proper signage in and around your facility will attract drive-by customers and solidify your business name in the community.

Step 4

Be prepared for the downside of owning a storage unit facility. This predominantly consists of collecting past due payments from tenants and handling auctions of items in storage units where the rent has gone unpaid. Contact your local authorities to find out when and how to go about auctioning items from delinquent customers. These auctions can sometimes result in an irate customer showing up and creating havoc.

Step 5

Be patient with your storage unit facility because it may take time before you are at full capacity. If you offer good service and reasonable rates, you will be sure to attract customers to your storage units. Most storage unit customers wind up being long-time clients, which means month after month of residual income for you and your business.

Tips

  • The cost of constructing storage units depends such variables as the size of the units, the type of materials used in their constuction and the cost of the property on which the units are built. Someone buying 20 closet-sized units in Kansas could pay $80,000 for the project while someone buying 40 garage-sized units in California could pay $800,000.

About the Author

Michael-John Wolfe is an actor and writer from Los Angeles. He has worked on eight national commercials and has had supporting roles opposite Brad Pitt in Mr. and Mrs. Smith and Tom Cruise in Collateral. He is an accomplished writer with over 400 articles sold online.