It is a very big step just making the decision to go into business for your-self. In doing so you are excepting the risk that comes with any business venture as well as the responsibility for its success and the well-being of the people that you employ. That makes the decision as to what kind of business you are going to go into even more important. Choose the wrong one and you not only risk putting yourself out of work, but all your employees as well.
One industry that does appear to be doing well and is quickly becoming more and more accessible for new people to enter is that of the self storage industry. Whether you are planning on taking over an existing facility or want to start your own from scratch there are options out there that have been quite profitable over the last year.
For those that like the idea of being attached to a proven success story there is Zippy Shell Mobile Self Storage. Entrepreneur.com and Entrepreneur Magazine has named the moving and storage industry as one of the top franchising trends for the last year, and specifically mentioned Zippy Shell USA, LLC. The company has been popping in various states all around the country in the last year. Most recently the company expanded into Texas with a franchise opening up in the Dallas area. Back in October they opened facilities in Central Florida and Western Michigan. In September they also entered the Atlanta and Northern Virginia.
Zippy Shell, which is now in 25 markets across the country, has made entering the self storage industry very accessible, but going with a franchise like them is not the only option. There are plenty of existing, unused structures that could be converted into self storage space. For example, Menards, the well-known home improvement store, has filed the paperwork to turn one of their old stores into a self storage facility in Eau-Claire, Wisconsin. The company moved out of the building in 2007 into a bigger one, but has not been able to sell it so they are trying to find a way to make use of it instead,
If neither of these options appeal to you and you have the financial backing you can always buy a self storage facility outright. This may not be the easiest entry point though. With so many companies realizing the untapped gold mine that self storage is many facilities are starting to go for a pretty high price. Recently two facilities in Southern California totaling about 1,600 units sold for $26 million.
Sources Used:
“Mobile Self Storage Rolls into Texas.” ZippyShell.com; 09 December 2010.
“Former Top PODS Executive Brings Zippy Shell To Atlanta.” ZippyShell.com;12 September 2010.
“Zippy Shell USA, LLC Completes Sale of Western Michigan Franchise - Enters Midwest.” ZippyShell.com; 04 October 2010.
“New Concept in Mobile Self Storage Rolls into Central Florida.” ZippyShell.com; 27 October 2010.
“Menards seeks to turn old store into self storage.” Sheboygan Press; 17 December 2010.
“Storage REIT Expands in SoCal With Two Buys.” GlobeSt.com; 22 December 2010.
“Self Storage Company Earns Top Award From Entrepreneur Magazine for Franchising Success.” Self Storage Industry News; 17 December 2010.
"Zippy Shell Mobile Self Storage, Rolling to a Location near You." Self Storage Industry News; 04 November 2010.