Where Should You Build Your Self Storage Facility?

Out in the countryside? In a busy urban area? Near a college campus? If you’re planning on opening a self-storage facility, one of the first decisions you’ll have to make is where to build it. Where you situate the facility will affect its success and the type of customers you attract.

So, what’s the best location for your self-storage business? Here are some factors to mull over as you consider where to build your self-storage facility.

What’s Your Target Market?

Are you looking to attract residential customers or businesses? Are you targeting families in need of extra space during a move or college students who require temporary storage during summer break? Knowing your target market will help you determine the best location to reach them.

If you want to start a successful self-storage business, one thing you need to keep in mind is accessibility for your target market. For example, if you’re targeting businesses in an industrial area, it would make sense to build the facility near commercial facilities instead of in a suburban neighborhood. Similarly, if you’re looking to attract college students, building your facility near a university campus would be a smart move.

How Much Competition Is Around?

Another factor to take into account when choosing a location for your self-storage facility is the competition in the area. Are there already several self-storage facilities nearby? If so, is there a demand for more, or will your business struggle to stand out?

Ideally, you want to choose an area that has enough demand for storage units without being oversaturated with competition. This way, you can attract customers without having to engage in a price war with other facilities.

Is the Location Accessible?

When considering the location, ask yourself if the area is accessible to potential customers. Can people find the facility easily? Will they have trouble navigating the area? If potential customers can’t easily access the self-storage facility, they may choose another option that’s more convenient.

Will the Building Be Visible?

You want the location to be visible to potential customers. Building the facility in a highly trafficked area or near major roadways can increase visibility. It also allows for easier advertising and marketing opportunities; you can erect signs or banners that highlight your facility’s location and services.

Is the Location Safe and Secure?

Customers are entrusting you with their belongings, so they want to feel confident their items will be safe and secure at your facility. Choose a location in a low-crime area and implement thorough security measures to encourage customers to confide in your business.

What Does It Cost?

Last but not least, cost is an important consideration when choosing a location for your self-storage facility. Building in a high-demand area or near major cities may come with a higher cost, but it could also bring in more customers and profits. Building in a less expensive area could save you money upfront but may not attract as many customers.

Since every self-storage business will have a unique budget, audience, and set of goals, there’s no one-size-fits-all answer to the question of where to build your facility. Nevertheless, considering these factors will help you narrow down potential locations until you find one that screams, “Build your self-storage facility here!”