radius logo
blog graphic

05 Jun 2023

Tips on How To Start a Self-Storage Facility Business


Tess Toth

Director of Sales and Marketing at Copper Storage Management

Across the United States, there are over 50,000 [self-storage facility business](https://www.radiusplus.com/keyword/self-storage facility business)es. Of course, each of these facilities varies in size, but if the average storage facility holds about 564 units, that means there are about 2,800,000 units available nationwide.

The [self-storage facility business](https://www.radiusplus.com/keyword/self-storage facility business) is only growing, which makes it a very advantageous time to invest. If you’re wondering how to start a self-storage facility business, look no further. Here are a few questions you’re most likely already asking, with steps you can take to put your potential investment into action.

How Expensive Is It To Start a Self-Storage Facility Business?

The cost of starting a self-storage facility business can vary widely depending on various factors such as location, size, and amenities provided. It’s important to do your research and also remind yourself of the long game when thinking about investing in self-storage. Here are some of the main costs associated with starting a self-storage facility business:

How Important Are Research and Planning When Starting a Self-Storage Facility?

Starting a self-storage business requires significant research and planning to ensure its success.

Below are some important aspects to consider:

Should You Consider Buying an Existing Self-Storage Facility

Ultimately, the decision to buy an existing self-storage facility will depend on the specific circumstances of the business and the potential for revenue growth. It is important to conduct thorough due diligence before making a purchase decision and to seek the advice of professionals, such as real estate agents and financial advisors, to ensure that the investment is sound. Here are a few pros and cons of buying an existing self-storage facility:

Pros of Buying an Existing Self-Storage Facility

Cons of Buying an Existing Self-Storage Facility

How Will You Manage Your Self-Storage Facility?

Managing a self-storage facility can be very costly in nature, but when you hire a [remote management](https://www.radiusplus.com/keyword/remote management) team, you will increase your margins and long-term revenue and take care of the heavy lifting for you. Here are a few ways a remote management team can support your business:

Investing in a self-storage facility does require thoughtfulness, intentionality, and preparation. However, the long-term investment can outweigh the upfront time and energy if you invest wisely. Using a self-storage management company like Copper Storage Management will provide peace of mind while simultaneously saving you money.

Other Articles