by John Stevens
August 16, 2011 4:43 PM
A century ago it was a lot easier to come up with a business idea than it is now simply because there was not as much competition in most markets and just providing a general service and/or product was enough to keep you in business. In modern times, that could not be further from the truth.
Most markets are pretty well saturated with competitors all trying to carve out their own piece of the proverbial pie. Some are able to succeed by slashing prices and making a profit on bulk sales while some are invest heavily in marketing to entice customers to their brand.
A practice that is becoming more and more common among businesses trying to stand out from the rest is specializing in some kind of niche along with a general service.
The self storage industry is no stranger to this concept. Some have begun to have more and more climate controlled units for things that extreme heat or cold may damage. Many are taking this idea a step further and are designing special self storage units for a particular product that needs to be stored in a very precise type of climate—wine.
Wines can be very expensive making wine collectors very protective over their bottles. Not only are the conditions that they need to be stored in important, but security has to be tight as well. While it is unlikely that someone will store a bottle of 1787 Chateau Lafitte (estimated value of $160,000), it would not be surprising to see them store a case of 1992 Screaming Eagle Cabernet ($300 a bottle).
Some self storage facilities have catered to clientele to the point where they even have special wine tasting rooms at the facility. Others have taken to doing nothing, but specializing in wine storage. Wine Storage Bellevue in Bellevue, Washington, uses all of its 8,000 square feet for wine storage. The company was recognized in 2010 as ‘Specialty Storage Facility of the Year.’
"After putting in the time and effort to create this unique space, and with the wonderful response we have had from our customers and the local wine community, it's great to have the national recognition from our peers in the self-storage industry," said co-owner Dick Gilroy, who founded Wine Storage Bellevue with son Patrick and wife Loraine after 40 years in residential and commercial development.
Wine storage may not be a big segment of the market, but when it comes to standing out from the rest it can be a great way to make a name for your facility.
Sources Used:
“Designing a Successful Wine-Storage Area in Self Storage Facilities.” Inside Self Storage; 16 August 2011.
“Wine Storage Facility Wins Top Prize From Mini-Storage messenger and Shows What Quality Storage is All About.” Self Storage Industry News; 23 December 2010.
“Top 10 Most Expensive Wines in the World 2011.” MostExpensiveWine.net; August 2011.
“Grow Your Wine Collection in Eastside Seattle’s Premier Wine Storage Facility.” Wine Storage Bellevue; August 2011.