How to Plan Mini Storage Buildings to Be Successful
With proper planning, mini storage buildings can offer significant returns on investment for savvy property owners.
As long as we live in a consumer-based society, mini storage buildings will always be in demand. We live in a world where material possessions constantly inundate our lives and we’ll always need a place to stow them.
No matter which city you travel to, you’re bound to find at least one mini storage company in operation, usually more. The reason is simple: once they’re built, these rental units require little maintenance or supervision and the return on the upfront investment becomes significant over time.
However, there’s more that goes into planning mini storage buildings than just slapping together a row of little metal boxes and waiting for the renters to appear. Careful consideration needs to go into each step of the process.
Location, location, location
As with many businesses, location is perhaps the single most important factor when planning a mini storage complex, and there are a number of factors that determine a superior location.
Firstly, you’ll need to address any local zoning bylaws and other building restrictions, as this will dictate where you can set up shop within a given municipality. Once that is taken care of, you’ll need to choose a location that provides maximum convenience for your clients. Building site features that have a positive affect on this type of business include:
- Major intersections
- Easy access
- High traffic volumes
- High density of homes in a growing area
- No competitors nearby
- Next to high activity retail or restaurant
Of course, not all of these will be attainable in certain areas, especially in smaller towns, but they’re worth noting.
It’s possible to build 40,000 square feet of rentable space on as little as two acres. However, before you fill your property with as many units as possible, it’s important to do your research to get a rough idea of what the demand might be like. There’s no sense in erecting 100 units, only to fill a quarter of them.
A better approach might be to build in phases, starting with enough units to get the business going, and then add more as the company grows. That way you can get a feel for your market and incorporate a mix of unit sizes that reflects your local demographic.
Work with a Reputable Builder
Mini storage buildings are a long-term investment, so it’s worth choosing a quality contractor who has plenty of experience working with pre-engineered steel buildings. This building style has proven itself to be well suited for mini storage for a number of reasons:
- Cost effective
- Easy to assemble
- Low maintenance
- Highly customizable
- Extremely durable
When considering companies, look for ones like Metal Structure Concepts that offer value-added services such as in-house design, estimating and erection. This provides the convenience of an all-in-one package.
If you operate other commercial enterprises, you should check out: 4 Popular Commercial Uses for Pre-Engineered Steel Buildings.
Are you looking for a company that offers a comprehensive services package for mini storage buildings? Metal Structure Concepts has in-house designers, project management and experienced ground crews to carry out projects quickly and efficiently. Call us to discuss your plans for you next mini storage project.