Every small business owner, self storage and otherwise, will tell you that one thing matters above all else when it comes to success in the business world—location, location, location. Picking the right location can make the difference between turning a respectable profit every year and just scraping by.
Sometimes in an effort to make sure that your business does get on the right location and if funds allow you buy more land that way you can have options and developers can’t hold you hostage later. Whatever you don’t use you can either sell or hold onto for future expansion.
Or you could do what a self storage owner in Hawaii has decided to do.
Ed Olson, chairman of A-American Storage Management Co. Inc., has agreed to not develop about 2,000 acres of land that the company owns. Olson entered into an agreement with Hawaiian Islands Land Trust to keep approximately 1,276 acres off the slopes of the Waianae Mountains on Oahu in its natural state as well as 907 acres in the Kau district of the Big Island.
The sacrifice by A-American Storage Management Co. is special largely due to the location. Thousands flock to the Hawaiian Islands every year as part of the always booming tourists industry there. People go to the islands for the lush, beautiful country side. They are not interested in seeing more buildings regardless of what industry they are involved in.
It is a unique sacrifice in the fact that Hawaii is a prime location for the self storage industry. One of the more common clients of self storage facilities are the men and women of the armed forces. Not only that, but a good part of the tourists industry does involve various kinds of off-road vehicles and other equipment (paragliding, water rides, etc).
There is a constant need for self storage space on the island. If Olson to use the land to create more self storage space he would likely have no trouble finding clientele. He could sell the land to any number of companies that might also find a use for it. Basically, if he wanted to he could make a lot of money with the 2,000 acres.
Instead, the greater good takes center stage in this case and the island paradise that many see and even more hope to see will remain the island paradise that it is.
Sources Used:
“Self-Storage Operator Protects Hawaiian Agriculture Land From Development.” Inside Self Storage; 02 February 2011.
“No development vowed for 2,000 Oahu, Kau acres.” KPUA.net; 30 January 2011.