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Erik Larson writes about the job market, resume improvement, and career advice

The Evolution of Self-Storage

Written by Erik Larson, Community Blogger | Jan 13, 2018 12:51 PM

Self-storage represents an idea that involves tenants agreeing with space-renting companies or individuals for using their services. Usually, these agreements are set on a month-to-month basis with an option for longer collaborations. The uses of self-storage can vary from individual reasons to business needs. If you have some extra furniture or things you don't need for a certain time period, this is a great option that will help you set it aside until you need to use them again. A lot of companies are in use of these services to store their products and office equipment as well.

History of Self-Storage

Although Australia, UK and Canada are also influenced by this economy, self-storage is mainly used in the American industry. Entrepreneurs that realized the potential of this business have started developing it in late 1960's. This was the starting point of commercializing this industry. The popularization of this idea demanded more supplies, because the number of consumers was on the rise.

After the World War II, Russ Williams came up with an idea to construct the first facility that will be using garage-style doors for self-storage. He made this facility back in 1964, along with his stepson, Bob Munn. The building was initially created for the oil industry, so they could have easy access to tools and supplies. From that moment, the number of self-storage buildings began increasing.

Today's Industry

Today, the United States is managing more than 2.5 billion square feet of rentable space and over 50.000 available facilities. After all, one in ten US householders is renting at least one storage unit. According to the Self Storage Association, this industry has managed to reach revenue of $35 billion. The demand for using these services is still on a high volume.

Unlike other industries that were affected by digital improvements, self-storage remained without significant changes in the ways that it's operating. This means that it still has a lot of space for growth.

The biggest problem that companies face in today's self-storage industry is the rising prices of real estate. As these facilities have to be located conveniently, the pressure of managing the monthly expenses is the most difficult part. Another disadvantage is the fact that places used for self-storage are sometimes subject to crime. Although it doesn't occur often, valuable documents and gadgets should always be stored in a safer location.

Pricing

The cost slightly differs in various companies, but here are some approximate prices for self-storage units.

The main factor that affects the price is the quantity of space you need. Another factor is for how long you want to storage your items. With the rise of quantity, the price will also continue growing, but if you're attempting to use the facility a bit longer the price can become lower. The price for 25 sq feet of pace is usually about $15 on a weekly basis, while larger units of approximately 100 sq feet of space are approximately $50 a week.

Savings can be managed if you're ready to pay in advance. Safestore offers a 5% discount on the payment that cover six months of using their services, while the yearly discount reaches 10%. As in every other industry, new branches are providing special offers to attract consumers, so don't hesitate to do some market research in order to save some extra money.

On-Demand Storage

On-Demand storage may be the real revolution for self-storage systems. Companies that provide on-demand storage are willing to help you pack, organize and transfer your desired items. Here you can find insurance protection that's free of charge. With improved safety and organization you won't be paying higher prices than from the usual self-storage. Some of the benefits of using on-demand storage may include less time spent in search for items, less money spent, and less worries about losing valuable items. 

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