So you've been toying with the idea of opening a self storage building. You've done a bit of research and determined that your market is ripe for it and you've got the real estate available to build it. Now, you've got to decide what kind of self storage facility to build.
By understanding the advantages and disadvantages of climate control and regular self storage, you can decide which one would be the best investment.
Construction and cost of self storage steel buildings
As you might suspect, climate-controlled self storage steel buildings are more expensive to build than regular self storage. Depending on where you're located, construction costs can be between $1 to $1.50 more per square foot for climate-controlled self storage. The upside to this is that climate control units can be rented out for about 25 percent more than regular units.
Unfortunately, zoning departments in many cities require that climate-controlled self storage steel buildings have about five to 10 times the amount of parking that the facilities actually need. Check the laws in your area to see whether or not that would be the case for you.
Climate-controlled self storage steel and metal buildings also take about a day or so longer to build than regular self storage buildings, and the construction is more complex since it's likely you'll have to hire two different crews. If you can afford the extra up-front costs in terms of time and money, then climate control might well be the way to go.
Self storage clientele
A big part of business is knowing your demographic. It won't do you any good to build a climate control self storage steel building in an area of town that can't afford the rent.
Climate-controlled self storage steel buildings are best for areas that are middle- to upper-class or businesses that have particular inventory storage requirements. Downtown or near downtown is prime location to service these clients.
Regular self storage, on the other hand, appeals to people who are on a budget. It works well for college towns, where many renters would only be storing for a few months at most, and it's unlikely that they'll be stashing any irreplacable heirlooms there.
Local self storage competition
Hopefully you've taken a good look at the self storage competition in your area, so you know what they're offering. If you live in an area where a lot of people are doing regular self storage, then a climate-controlled facility might help you stand out from the crowd. Conversely, if there are a lot of climate-controlled facilities around, a regular self storage steel building could be a good change of pace for people who want something basic.
By comparing the pros and cons of climate control and regular self storage and considering your resources, you can make the best decision about which self storage steel building will be right for you. That way, you can make the most of your venture into this extremely lucrative industry.
Darren Newberry is the general manager of American Steel Buildings, the Midwest's premier self storage steel and metal building supplier. They've helped numerous customers get started with self storage steel buildings. Visit them online today at
http://www.gosteelgo.com and let them help you get started today.
