The Future of Storage
Everywhere you look, you’re bound to see at least one commercial self-storage building on the horizon. They’re seemingly on every corner and are only growing in number. In fact, the self-storage industry has grown so large that it generated nearly $40 billion in 2022 alone. A big reason for this popularity is the flexibility and affordability of metal buildings.
Metal storage buildings are incredibly durable and customizable enough to give potential business owners an easy, cost-effective way to design their infrastructure. This has made it possible for more and more individuals to start their storage business with less overhead and fewer operational costs.
In this blog, we’ll explore the future of metal storage buildings, including why you should jump to a structure that can provide decades of dutiful service and things you’ll want to keep in mind when designing yours.
Reasons Why Businesses Are Investing in Self-Storage Buildings
There’s a good reason why self-storage has become a prevalent form of passive income in the US. And metal storage buildings are leading the charge. Let’s look at a few reasons these businesses are choosing steel as their construction option of choice in 2023:
1. Strong ROI
One main reason business owners invest in metal self-storage buildings is the strong return on investment (ROI). The storage industry has proven profitable, with a high potential for generating passive income. Self-storage buildings offer a low overhead cost and high-profit margins, making them an attractive investment option. Business owners can enjoy consistent cash flow and a strong ROI with proper management and marketing.
2. Easy Financing
Financing a self-storage building is relatively easy, thanks to the low-risk nature of the storage industry. Lenders are often more willing to provide financing for storage buildings than other commercial properties due to their low tenant turnover rates and high occupancy rates. This makes it easier for business owners to secure financing for their metal self-storage building investment.
3. High Customizability
Mini storage buildings are highly customizable, allowing business owners to design the space to suit their specific needs. This means that business owners can choose the size and layout of their storage units and the type of storage solutions they offer. The ability to customize the storage units can help business owners attract a wider range of tenants and increase occupancy rates.
4. Easy Expansion
As businesses grow, so does their need for storage space. With a metal self-storage building, business owners can quickly expand their storage facility by adding more storage units to the existing building. This can be done without disrupting the operations of the existing tenants, making it a convenient way to expand the business.
5. High Occupancy Rates
Self-storage buildings typically have high occupancy rates, which is good news for business owners. The demand for storage space is constantly growing, and self-storage buildings offer a cost-effective and convenient solution for individuals and businesses needing extra storage space. This translates to consistent cash flow for business owners and a lower risk of tenant turnover.
6. Minimal Maintenance Needs
Metal self-storage buildings require minimal maintenance compared to other types of commercial properties. Metal is a durable material that can withstand harsh weather conditions and resist pests and fire. This allows owners to save money on maintenance costs and allocate more funds toward marketing and expanding their storage facility.
Crucial Things to Keep in Mind When Designing a Metal Storage Building
If you’re forming a self-storage business, your infrastructure will be central to your operation. As such, you’ll want to spend ample time planning your project. Below, we’ve put together a few things you’ll want to consider during this process:
1. How Many Units Will You Need?
The first step in designing a commercial self-storage building is determining how many storage units you need. This will depend on the size of the property and the market demand for storage space in your area. It’s vital to conduct thorough market research to determine the optimal number of storage units that will maximize your profitability without sacrificing the quality of your storage facility.
2. Overall Budget
Once you have a rough idea of how many units you will need, you can start working on your overall budget. Your budget should consider the cost of land, construction materials, labor, permits, and any other expenses associated with a commercial self storage building. Having a clear idea of your budget upfront can help you make informed decisions throughout the design process and avoid overspending.
3. Design and Layout
The design and layout of your self storage building are critical factors in attracting and retaining tenants. You want to create a layout that maximizes the available space’s use while providing easy access to each storage unit. Consider using a mix of unit sizes to cater to a variety of tenants and incorporate features such as climate control and security systems to make your facility more attractive to potential renters.
The location of your self storage building is another crucial factor to consider. Look for a site that is easily accessible and visible from main roads and highways. Depending on your target market, you may also want to consider proximity to residential areas or commercial centers. The location of your facility can have a significant impact on your occupancy rates and overall profitability.
5. Future Expansions
Finally, it’s important to consider future expansions when designing your self-storage building. Even if you start with a smaller facility, you want to leave room for growth down the road. Consider the possibility of adding more storage units or even additional buildings as your business grows.
When It Comes to Durable Storage Structures, You Can’t Go Wrong with Storage Building Central!
No matter where you call home, you can trust Storage Building Central to have you covered with a wide range of metal storage buildings. From mini storage buildings to climate controlled storage buildings, we have the expertise to deliver lasting results that let your business speak for itself.
So, if you’re ready to plan and build your business infrastructure, give Storage Building Central a call! Our building specialists are ready to help you design a structure that suits your needs. Call today at +1 (844) 315-3151 and let us take your business to new levels!