Are you looking for new ways to earn a secondary passive income?
There are plenty of things that you can invest in to start a second cash flow, but some of them require a lot of work and upkeep. Skip bothering your friends with network marketing and trying to flip houses; invest in the self-storage industry instead.
If you want to feel confident in your future investment, we want to help. We have a helpful self-storage industry fact sheet so you can get the details before getting involved. Keep reading for a few facts about the self-storage industry.
Self-Storage Is Common
Did you know that almost 10% of American households rent storage space? While this might seem like a small percentage (and it is a minority), it’s still a large sum of people who need alternative storage methods.
This number is only set to rise. As housing becomes more sparse and available (and affordable) houses and apartments get smaller, more people are going to need to invest in external storage solutions because they’ll have to downsize.
Self-storage rentals aren’t only for people without their own storage though. Many households that have garages, attics, and basements also invest in storage options. Your potential customer base is larger than you think.
Because of these facts, getting into the industry now is going to be profitable over the next few years.
It’s a Fast-Growing Part of the Commercial Real Estate Industry
Many people don’t think about self-storage rental as a part of the overall commercial real estate industry, but it is. Not only that, but it’s a more affordable and accessible way to break into the industry for those who aren’t ready to commit to homes or apartments.
The self-storage industry has experienced a growth of over 8% since 2012 and it’s only going up.
High Revenue, Low Effort
Many people love the self-storage industry because it doesn’t have a lot of overhead or active effort required. There isn’t a lot of maintenance involved, and you can experience a profit margin of 11%. This makes it one of the most profitable small businesses.
While the upfront cost might seem high, the results are more than worthwhile.
Occupancy Stays High
Even with enough storage for every person in the United States to have several feet, the occupancy of self-storage facilities remains over 90%.
More and more self-storage facilities need to go up in order to sustain the high demand, and these facilities need investors. With such a high occupancy, you know that you won’t have any wasted space or money.
Does This Self-Storage Industry Fact Sheet Inspire You?
There’s a lot of money to be made in the self-storage industry. This self-storage industry fact sheet is only a small sample of convincing facts and statistics that can show you just how profitable your new investment can be.
For an easy stream of secondary income that’s sure to increase in the coming years, the self-storage industry is the obvious choice.
Are you looking to get involved? We want to give you the tools to get started. Check out our course on how to make big money with self-storage and start generating more income today.