How to Open a Storage Facility

Opening a storage facility is a great business model for anyone who wants get into a business that does not involve much day-to-day hassle. Though a storage facility requires start-up capital, once everything is set up properly it can keep running smoothly. Learn the correct way to start this business and build it into a successful venture.

1. Create a business plan. Include your start-up costs and projected revenues, how you intend to secure needed funds and how you plan to market your business. Also include the number of storage businesses in your area, and where new business complexes and home developments are being built.


2. Get your business license. You need to be licensed before you can operate a storage facility. This allows you to establish the legal entity name for your business and is necessary for tax purposes. The licensing fee is usually minimal. Once you have received the license, you should display it prominently in your office or work area.


3. Research the competition. Find out what other storage rental businesses charge for their storage units. You can call or visit them to find out what they charge monthly and how they offer discounts for long-term use. This information can help you choose the best fee structure for your rental units.


4. Find a commercial lot for your storage units. You can rent or purchase the lot. Find a lot that is already paved to minimize your start-up costs. You will also need to make sure that the lot is zoned as commercial to comply with zoning laws. Also consider getting a location that is within a few miles of a residential neighborhood or business complex. This is because homeowners and business managers who do not have adequate storage facilities may seek something easily accessible.


5. Set up your storage units. These can be purchased from local companies who sell metal buildings. You can get either pre-fabricated units or you can purchase and assemble them on your lot. It is a good idea to obtain several quotes from different companies before deciding which option meets your needs.


6. Begin advertising your storage business. You can advertise in local newspapers, with fliers around town, on local radio and TV stations, and even online. You can offer introductory rates to local homeowners and business managers in order to acquire many customers quickly. Another powerful promotional strategy is to send out press release announcements to local print, television and radio media. Consider working with your local chamber of commerce to hold a grand opening event for your storage unit business.