For entrepreneurs looking to break into the storage industry, franchising offers a promising path. By leveraging established brand recognition and operational support, franchise businesses can provide a competitive advantage. If you’re interested, we’ve gathered a list of 15 storage franchise businesses to consider. These range from traditional self-storage facilities to specialized services.
What is a storage franchise business? A storage franchise business model allows investors to utilize an existing storage company’s name, brand, and established business model to provide storage services such as self-storage facilities, portable storage solutions, and other related services.
The Storage Industry in 2023: The self-storage industry is projected to continue its upward trend in 2023, driven by growing demand from residential and commercial clients. With advances in technology and automation, the industry is adapting to changing customer needs, such as contactless rentals and smart storage solutions. As a result, storage businesses can expect increased competition and innovation in the coming years. Additionally, self-storage can be among the top winter business ideas since people often rely on these facilities to store boats or summer vehicles.
Why should you consider starting a self-storage business? Starting a self-storage business can be a profitable and fulfilling venture, with many benefits to consider. Here are five reasons why you should consider starting a storage franchise in 2023:
1. Growing demand: The storage industry is projected to continue its upward trend, driven by growing demand from residential and commercial clients.
2. Stable income: Self-storage businesses typically offer a steady stream of income, with long-term leases and low overhead costs.
3. Flexibility: As the owner of a self-storage business, you have the flexibility to set your own hours and manage the business on your own terms.
4. Low maintenance: Self-storage facilities require minimal maintenance, with few moving parts and low upkeep costs.
5. Scalability: With the right strategy and investment, a self-storage business can be scaled up to accommodate a larger client base and generate greater profits.
Top Storage Franchise Opportunities: We’ve rounded up the best storage unit franchises available in the market, from self-storage to portable storage. These franchises offer profitable business models and a chance to be a part of a growing industry. Here are some options to consider:
1. UNITS Movable and Portable Storage
2. Storage Authority
3. Extra Space Storage
4. MyWay Mobile Storage
5. Zippy Shell
7. GarageTown USA
10. Big Box Storage
11. Smartbox Portable Self-Storage
12. CubeSmart Self Storage
13. Guardian Storage
14. Universal Storage Group
15. Go Mini’s
How to Choose the Best Franchise to Set Up Your Storage Business: Selecting the right franchise is critical to your storage business’s success. Consider these four essential factors when choosing the perfect franchise for you:
1. Industry Experience: Look for franchise businesses with a proven track record in the storage industry to lend valuable insights and support.
2. Brand Recognition: Established franchises with recognized brands can provide a competitive advantage and attract more customers.
3. Training and Support: Seek franchises that offer comprehensive training and ongoing support to help you navigate the challenges of starting and running a storage business.
4. Financial Considerations: Understand the initial investment, ongoing fees, and other financial obligations of the franchise to ensure alignment with your budget and long-term financial goals.
How much does it cost to open a storage unit franchise? The cost of opening a storage unit franchise can vary widely based on factors like franchise brand, location, and facility size. The initial investment can range from tens of thousands to millions of dollars.
Is owning a self-storage franchise profitable? Yes, owning a self-storage franchise can be profitable with the right strategy and execution. As demand continues to grow, coupled with the benefits of a scalable business model, a self-storage franchise can provide a solid return on investment.