Few businesses are as lucrative or dependable over the long term as self-storage. If there is one thing people are always going to need, it is more space.
If you want to operate a storage facility, you will need to buy or build storage unit buildings. In this post, we are going to go over what you need to know to get started with your own storage facility from the ground up.
Are Mini Storage Units a Good Investment?
Absolutely! In fact, when times take a downturn, self-storage typically becomes more valuable, not less. As people downsize to smaller homes or apartments, they need somewhere to keep their possessions.
So, in good economic times and bad, storage businesses can thrive.
Average Cost to Build Storage Units
A typical price range for constructing a facility for self-storage ranges from around $25 per square foot at the lower end to around $70 per square foot at the upper end.
A variety of factors can influence the price. Some of these include:
- The materials you choose and their cost on the market at the time you order them.
- The method of construction.
- The cost for the contractors who assemble the structure.
- The location where you are building the facility.
- The size and number of storage units and how many doors they require.
- The design options you choose.
Below, we go over the basic steps involved in constructing a self-storage facility. With proper planning and timing, you can minimize your costs.
Just remember that the least expensive options are not always the best ones. Your goal is to maximize quality while keeping within your budget. So, keep value in mind when you are shopping around for contractors.
How to Build Self Storage Units & Mini-Storage Buildings
1. Choose a site for your storage facility.
Before you can start shopping around for contractors and building kits, you need to decide where you will open your storage facility. Below are some key considerations as you choose a site for your storage unit buildings:
- Zoning requirements
- Potential customers located nearby
- High visibility of location
- Relative safety of site
- A sufficiently large area to accommodate your structure
- Excellent drainage
- Property taxes
- Proximity to competing businesses
2. Decide on design features for your storage units.
Once you have your site, you can make decisions about the facility itself. You will need to consider all of the following:
- What size storage units you will have, and in what distribution. Check into common storage unit plans for ideas.
- The overall layout of the storage units.
- Whether or not your storage facilities will include interior hallways.
- Whether or not you will have multiple floors in your self-storage facility (if so, you will also need to have an elevator).
- Whether or not you will install insulation for your storage units, and if so, what kind.
- The type of roof you will put on your storage facility.
- The ventilation system for your storage units.
- Whether or not you will have climate control integrated into your facility.
- Special features you might need for particular types of storage, i.e. for vehicles.
Your location and target market will determine a lot about which features are necessary.
For example, in a temperate climate, you might be able to skip insulation and climate control altogether for your storage unit buildings, cutting costs.
But let’s say you live in an area where temperatures regularly get very cold in the winter and blazing hot in the summer. Insulation and climate control can make your facility a lot more competitive.
You might be surprised at just how many types of items should not be stored without climate control. Some of these include electronics, musical instruments, multimedia, furnishings, antiques, sporting equipment, and attire.
These are all very ordinary items that many people will want to store safely, sometimes for extended time periods.
It may cost you more to install insulation and climate control features now, but over the long run, you will be able to charge higher rents and attract a larger pool of prospective tenants.
3. Choose a contractor.
After you decide on a configuration for your storage facility and what features you want, you will be ready to select a contractor.
4. Order your metal storage building.
Place your order for a metal self storage facility kit. You will be able to see the expected processing time before you make your order.
5. Receive your kit and assemble your storage units.
Once your metal building kit is ready, the components will be delivered to your construction site.
It is now time to commence with storage unit construction. In some cases, the company you choose for your metal building kit will also be able to handle the construction of your project.
In other situations, you may need to shop around for a separate contractor to handle construction.
Build Your Storage Unit Buildings Now
Many businesses can experience intense fluctuations in profits depending on what is happening with the economy. But amid those ups and downs, self-storage can provide you with a stable, consistent stream of revenue.
While some customers come and go quickly from storage facilities, others will remain with you for many years to come.
If you are ready to get into this lucrative and reliable business now, use our free quote for big savings.