Sarah Manning, from Secure Stores Nationwide, took the opportunity provided by the Seminar Theatre at The Movers and Storers Show in November to explain some of the practicalities of setting up a container self storage operation.
She said that self storage saturation in the UK was still well below, for example, the USA or Australia, so there were still good opportunities for new entrants into the market. But before doing so, potential new entrants should consider the following:
Local demographics
Most business will come from a 15 min radius of the site. So what are the demographics of that area? How much is commercial and how much residential as 75% of self storage business comes from residential customers? Also, what is the local economic profile? Self storage is a discretionary expense to more affluent areas will spend more.
The competition
How much competition is in the area? Check out the competition online to assess the quality of their offers. Check availability and unit size, etc. Mystery shop to check how well they respond. How good is their promotion? Do they have room to expand? What is their security like? How good does the site look? Work out how you can set yourself apart from what’s already available.
Location and accessibility
A main road location is no longer essential but good ‘kerb appeal’, with a high level of passing traffic, will help the site fill more quickly.
The Plot
Does the plot have good access for vehicles? ...
Photo: Sarah Manning, Secure Stores Nationwide.