Self Storage: 5 Key Takeaways You Need To Know

  • Self storage is approaching a £1 billion industry and growing year-on year (SSA UK 2023 Report
  • Some operators are reporting 40% net profit returns annually
  • Systems such as Stora that automate bookings and payments can save 90% of admin time
  • With 20% of customers in units for over 5 years, you can rely on recurring revenue
  • Let our BOX+ specialists help you launch a successful hands-free storage business
Beyond Self Storage

In the dynamic world of real estate investment, savvy entrepreneurs are constantly seeking innovative ways to maximise returns on their assets. One such opportunity that has been gaining traction is the transformation of idle or underutilised land into highly profitable self storage facilities using shipping containers. With the promise of up to 40% net returns, this venture not only offers a lucrative pathway but also introduces a modern twist: the ability to run these businesses hands-free and unstaffed, thanks to technological advancements.

The Rising Demand for Self Storage

The self storage industry has witnessed a boom in recent years, driven by various factors including downsizing, relocation, and the ever-increasing consumerism that has left people with more belongings than they have space for. This rising demand presents a golden opportunity for landowners to provide a much-needed service while turning a significant profit.

Maximising Idle Land

For those with spare land, the move towards establishing a self storage facility can seem like a natural step. Real estate is a finite resource, and every square foot of land has the potential to generate income. By converting idle plots into self storage units, landowners can tap into a growing market, offering secure, accessible, and flexible storage solutions to both individuals and businesses.

The Hands-Free Unstaffed Model

Perhaps the most appealing aspect of modern self storage businesses is their ability to operate autonomously. Advances in technology have made it possible to run these facilities without on-site staff, significantly reducing overhead costs and increasing net profits. Through the use of digital platforms such as Stora, customers can book units, make payments, and access their belongings without human intervention. Security systems, including surveillance cameras and digital locks, ensure the safety of stored items, providing peace of mind to both the business owner and the clients.

Customer Case Study: iBOXED Self Storage

Property developers Noor Rashid and Ian Harriman acquired land in Teesside for development, however, rising material and labour costs made this plan unfeasible. They decided to leverage their prime location and diversify into the storage market, ordering shipping containers through our BOX+ service.

BOX+ aids current self storage operators and landowners looking to enter the industry by offering external tools and support for setting up and managing a remotely operated, profitable venture. 

The collaboration between iBOXED Self Storage and Cleveland Containers resulted in a remarkable 1,000% occupancy rate increase in ten months, showcasing the effectiveness of BOX+ and the invaluable support of the Cleveland team in launching and expanding a self storage business.

Key Technological Innovations

  • Digital Booking and Managment Systems: These platforms allow for seamless operation of the storage facility, from customer sign-up and unit selection to payment processing and regular communication.
  • 24/7 Surveillance and Access Control: Cutting-edge security systems not only deter theft and vandalism but also enable customers to access their units at any time, enhancing convenience.
  • Smart Locks and Entry Systems: By employing smart locks, self storage facilities offer customers keyless entry to their units, further streamlining the storage experience.

The Environmental and Community Benefits

Turning idle land into a self storage facility is not just financially rewarding; it also has environmental and community advantages. By optimising the use of existing spaces and using readily available shipping containers, it reduces the need for new construction and the associated environmental impact. Furthermore, it provides a local solution to the problem of clutter, helping maintain cleaner and more organised living and working spaces.

Start Your Self Storage Journey Today

The journey from idle land to a thriving, unstaffed self storage business represents a forward-thinking investment strategy that leverages technology to meet modern needs. It offers a high-return option for real estate investors and landowners, combining profitability with operational efficiency. In an era where convenience and security are paramount, the hands-free self storage model stands out as a beacon of innovation in the real estate sector. If you're sitting on underutilised land, now might be the time to explore this golden opportunity.

Interested in starting a self storage business?

Talk to our BOX+ specialists today!

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