Are you looking for a small business opportunity to invest in? If so, you’ve come to the right place for advice.
Becoming a small business owner is a great way to take control of your life and build wealth. But choosing the right kind of business to invest money in can be a challenge. After all, it’s important to pick something with growth potential and the promise of consistent profits. That’s why you should take a look at the self storage industry.
This article takes a look at the benefits of owning a secure self storage business. Keep reading to get the inside scoop on how this type of business works and why it’s a great investment opportunity.
The Reasons People Rent Self Storage Units
This is a business that’s been around for decades. That’s because people have a million reasons for renting storage units.
For example, perhaps a family has moved out of the area but isn’t ready for all their stuff yet. Or they’d just moved to town but haven’t found a permanent place to live. In both these cases, they will need a place to store their stuff until they have room for everything at home.
Other examples include couples going through a divorce, individuals traveling out of state for a period of time, or selling a house before buying a new house, etc.
In other words, climate controlled self storage units provide a convenient way to keep items safe and secure during periods of transition.
Look at the Economy
The economy can also have an impact on this type of business. After all, more and more people are downsizing in order to save money on a big house payment each month. Paying rental on a storage unit is typically far less expensive than an extra few hundred dollars on mortgage payments.
Additionally, signing a rental agreement for a few months is a minor commitment that provides the time to make major decisions about the future.
Reliable Cash Flow
Owning storage units is a great way to create a stable source of reliable cash flow. After all, the rent for each unit is due each month, unless the customer pays for multiple months in advance. Either way, when you own hundreds of units, you’ll have hundreds of payments coming in every month.
Minor Management or Maintenance Requirements
A storage facility requires minimal staffing. And you won’t have to worry about plumbing running to every unit. Thus there is very little to maintain aside from basic superficial upkeep and paying a manager to oversee the day to day operation.
Ideal for Small Investors
You can either invest as an individual or participate in a group of fellow investors. This enables you to decide how much capital you’re willing to risk upfront.
A Guide to the Benefits of Owning a Self Storage Business
Owning your own business can be own of the most exciting decisions you’ll ever make. Fortunately, investing in a self-storage facility can provide reliable income for years to come.
Please contact us to learn more about how to take advantage of self-storage business opportunities.