In 2021, self-storage remains strong. In fact, the storage industry has been on the rise over the past year, and it doesn’t appear to be stopping! How wonderful to be in an industry that’s growing and profitable. Storage is unlike other real estate investment; self-storage facilities have low construction and building costs and the month-to-month leases allow you to easily increase your rates as needed.
There are nearly 50,000 self-storage facilities in the United States with just about 2 billion square feet of storage space. According toSelf-Storage Almanac, 2021, 10.6% of households rent a storage unit with an average monthly cost of $89.12. Whether you already have a self-storage facility or you’re considering the investment, these are great statistics.
Storage is a good investment if you are in the right location with the right ideas. How will you know that you’re ready to expand your facility? Here are5 signs you’re ready to add rentable space. It’s easier than you may think:
1. Your facility is approaching 80% capacity.
Last year proved the resilience of the storage industry. People are moving, downscaling, and shifting their lifestyles. During these times of change, storage facilities are an essential need. Be prepared to serve your community by ensuring you have the unit capacity to meet their needs.
2. You have underutilized space on your lot.
Look around your facility. Do you have empty fence lines, easements, and parking lots? Relocatable units are the ideal solution for these spaces as they do not require a foundation.
3. Section 179 tax credits are on your radar.
Did you know? Relocatable units are considered “business equipment” because they can be moved with a forklift. Leverage this as a valuable tax write-off for your business..
4. You need ﬁnancing in order to expand.
While not necessary to ﬁnance, we arepartnered with the best lenders in the industry. We will facilitate your relationship with our partners so you can manage cash ﬂow and order with conﬁdance.
4. You want to maximize revenue – fast.
Once you place your order, Boxwell relocatable units will be delivered, installed, and ready to rent in just 10-12 weeks.
Once you’re all set with your portable storage container branding, be sure that your website clear and easy to navigate with customer support at the ready. You’ll soon be receiving inquiries about your facility! Don’t forget to ask your potential clients how they learned about your business. The portable storage industry has a lot to offer, and with big, bold and captivating advertising on all sides, marketing these containers is really a no-brainer.
At Boxwell, we pride ourselves on providing customers with the highest-quality storage containers on the market. We set out to reinvent storage and prove that a great product can be created through innovation and perseverance. As a team, we strive to evolve with our ever-growing industry!
Boxwell provides storage solutions for all kinds of businesses. We achieve this by staying true to our product and really listening to our customers, our partnersand each other.
Work with a Boxwell representative to decide on an ideal, moveable storage unit mix, custom colors, door conﬁgurations and more. Once the order is placed, your Boxwells will be delivered, installed, and ready to rent.