Are you interested in starting your own portable self storage business? The video has many great tips that will set you on the right path for such a project. The presenter has extensive experience in the industry and he focuses his commentary on the mistakes you should avoid. Here are some of the most important nuggets of wisdom from the video.
You should find a high-visibility location for your self storage business. Specifically, you should look for land that is on a main thoroughfare with a high traffic count.
The presenter says that the single largest source of his new leases came from people who drove past his self storage unit every day. And when they needed to do self storage, his company was top of mind.
Another mistake to avoid is not making the right adjustments for the time involved in new construction. There is a significant amount of time from deal formation to the time you can start renting units. As you build, there will be problems with the architectural work, getting building permits, getting contractors to do the work, and other issues. By the time you get your business up and running, the market may have shifted to your disadvantage. Now you know some of the mistakes to avoid when setting up a portable self storage business.