It’s 2023, and AI threatens to overhaul many businesses. But do you know one industry that’s pretty safe from the threat?
The storage business!
And as such, many savvy entrepreneurs and would-be business owners are opening their eyes and turning to the storage business.
So we thought, why not make a guide letting everyone know the basics of the storage business so they can decide if it’s an avenue they truly want to pursue?
Before we begin with your guide, let’s start with the baseline knowledge you’ll need to make your decision.
It’s stats time!
According to the IRE (1), owning a storage facility can earn you an average of $350,000 to $800,000 a year! It’s believed that at least 1 in 3 Americans has used a self-storage facility, and of those, 50% end up being repeat customers. (2) But demand is quickly increasing, and storage facilities are fulfilling their occupancy goals quicker than ever! That’s because there are very few (if any) alternatives to storage units - and most of them are much more expensive!