By Ed Clement
The Evolution of Self-Storage
The humble history of the modern American storage unit is usually credited to Lauderdale Storage in Fort Lauderdale, Florida in 1958. Soon after, in the 1960’s, the first storage unit chain was opened in Texas and eventually led to the Houston self-storage facilities that you see today.
Allegedly, the first storage areas that Texas provided had no brand names but were later influenced by the company called Shurgard National Storage Centers.
The self-storage business is a 39-billion-dollar industry growing at a rate of 1billion dollars annually. There are over fifty-two thousand self-storage facilities in the United States with the majority owned by Mom-and-Pop operators.
This often-overlooked segment is larger than the combined franchises of McDonalds and Subway. The latest trend in growth has been dominated by Real Estate Investment Trusts who have recognized the financial rewards of owning this commercial asset as Americans have stored over 2.3 billion square feet of stuff. Unlike most Mom- and- Pop facilities, REITs have discovered the most profitable facilities are a minimum of 50,000 net rentable square feet.
As the self-storage industry continues to expand so has the need to refine its operations through the use of better-looking facilities, improved customer service, security, marketing, and management.
Storage Authority has learned rental unit pricing is not as important as first impressions such as greeting the customer at the door, offering a coffee or bottled water, immaculate facilities, and professional management.
Customers should enter as guests and leave as friends. This is the secret sauce of success! Where else can you own a multi-million-dollar commercial real estate asset generating a six-figure income staffed by 1.5 employees? For more information contact me today!
Ed Clement is a franchise director at Storage Authority. One of his passions and responsibilities is helping franchisees find land by sharing how to find land both online and offline. Ed has a strong background in real estate, investment banking and management consulting. He is available at Ed@StorageAuthority.com or 727 946 0745 to answer your questions and share the Storage Authority Franchise opportunity and advantages with you.