• High Demand: Self storage is a high demand business due to the ever-increasing need for space. People are always looking for more room to store their belongings, and this business can easily fill that need.
• Low Overhead Costs: Starting up a self storage facility requires very little capital, making it an attractive option for entrepreneurs with limited funds.
• Flexible Hours: As a self storage business owner, you can choose your own hours and decide when to be open for customers. You also don’t need to hire employees if you don’t want to.
• High Competition: Self storage is a competitive industry, with many established companies vying for new customers. It can be difficult to stand out in such a crowded market.
• Regulations: There are several regulations that must be met in order to start and run a self storage facility, including fire and safety codes. This can add extra costs and paperwork to the process.
• Security Issues: Self storage facilities keep valuable items on their premises, making them a target for theft and vandalism. Security measures must be put in place to protect your customers’ belongings.