There are many reasons why you may want to consider owning a self-storage franchise. Perhaps you are looking for a business with low overhead costs and relatively easy to operate.
Maybe you are searching for an opportunity with multiple revenue streams and high profitability potential. Whatever your reasons, it is important to determine if owning a self-storage franchise is possible.
This blog post will explore the eligibility requirements and outline some benefits of owning this business. So, if you are interested in learning more, keep reading!
About Self-Storage Franchise
Self-Storage is a service-providing industry. They provide rental space for storage, such as containers, rooms, lockers, and warehouses.
According to reports, there are 2.3 billion square feet of rentable storage space and over 50,000 self-storage facilities in the USA.
The demand for Self-storage is continuously increasing, and their service has changed the lifestyle and society.
Business Model Of Self-Storage
The Self-Storage authority’s business model starts by guiding and assisting the owner in identifying land, designing a premier facility, obtaining approvals, and building their facility.
Once they open the franchise, the owner oversees the operations of a manager-driven system based on the storage authority systems and platforms.
Self-Storage Franchise Model
| Initial Investment | $500,000 – $4,000,000 |
| Franchise-Fee | $18,000 |
| Royalty-Fee | 6% |
| Liquidity | $750,000 to $1,000,000 |
| Area Requirement | 10,000 square feet to 100,000 square feet or more. |
How Much Does A Self-Storage Franchise Make?
There are a number of aspects that determine the profitability of the Self-Storage franchise.
Profit varies depending on the investment size, expenses, and demand for the product.
As we all know, Self-Storage has already earned goodwill in the market, so there is a good possibility that revenue must be higher.
Training And Support
Self-Storage provides classroom and textbook learning that covers your storage authority business, from start-up to day-to-day operations.
They have a training center in Florida where classes are held regularly throughout the year. They provide initial training classes for three days.
In addition, they also offer online training during the four-week before opening.
Advantage Of Self-Storage
- Provides training and support
- Well-market and competition research
- Proper sales, marketing, and customers services
- Business strategy
- A third-party management contract
- Certificate Of Occupancy
- Labour safety requirement
Alternative Of Self-Storage
| Company | U-Haul | HomeVestors |
|---|---|---|
| Founded In | 1945 | 1989 |
| Initial Investment | N/A | $53,000 – $421,250 |
| Franchise-Fee | N/A | $27,000 – $65,000 |
| Total Outlet | 50 | 60 |
| Annual Revenue | $4.54 Billion | $1.6 Billion |
Frequently Asked Question
Can I open self-storage to use my retirement funds?
Yes, you can use your retirement fund to open Self-storage.
How much does a Self-Storage Franchise make?
We can’t predict the profit. It varies depending on the location and services.
How much is a Self-Storage franchise fee?
The self-Storage franchise fee is $18,000
Is Self-Storage a franchise?
Yes, Self-Storage is a franchise, but it is only available in the USA.
How much does a Self-Storage franchise cost?
To become an owner of a Self-Storage franchise, investors should expect to spend around $500,000 – $4,000,000 and an additional franchise fee of $18,000.
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.