Mobile storage is a fast-emerging industry that is aiming to meet the needs of the 21st-century family. The economy is evolving, and people are becoming ever more focused on cost-efficient solutions to their moving needs. This is creating a tremendous opportunity for savvy investors eager to meet these needs. As with any industry, the better prepared an operator is upon entry, the more successful their operations will be. To that end, the following are the keys to making a smooth and successful entry into the marketplace.
Understand Market Conditions
The moving market varies from coast to coast and community to community. What works in Denver may not work in Dallas. Thus, it is imperative to have a detailed understanding of the market conditions within the community you are seeking to enter. This means knowing the demographic inside and out so that you can tailor your services and solutions to satisfy the needs of the market.
Calculate the Cost
The costs of opening a mobile self-storage business will vary depending on a number of factors. These include the cost of land, the cost of facility construction, and the cost of the units themselves. In fact, the containers are likely to be the most expensive investment you will make when you are getting started. Thus, it is wise to carefully research your options before making a decision about which containers to buy. Moreover, you will also need to factor in the cost of transporting the containers and what equipment will be required to safely haul your customer’s possessions from Point A to Point B and places in-between.
Know the Rules
Municipal regulations and zoning restrictions are not uniform and can vary significantly even within the same community. In some communities, permits may be required for both short- and long-term positioning of the containers. Moreover, some communities and homeowner’s associations are instituting strict regulations governing the use of mobile storage containers in residential areas. As such, it is critical to know what regulatory hurdles your mobile self-storage business will face.
Insurance is a critical component of business in the 21st century. You must carry enough insurance to cover not only your facilities and equipment, but also any damage they may cause. Inadequate insurance can sink your ship quickly, so it’s not something you want to skimp on.
A company is only as good as the people it employs. This means that from the day you open your doors, you need to have the best people on your team. From the accountant to the drivers, and the customer service reps to the facility manager, you will want to take your time to make the best hiring decisions possible.
Make Time for Marketing
Your company may be the best in the business, and you may have exactly the services your consumers need; but, if they don’t know about it, your business will never get off the ground. The key to success in any business is entering the market with a solid marketing plan that speaks to consumers in your area. Developing a multi-faceted marketing approach will ensure that word of your operations gets out to the public from as many channels as possible.
Mobile storage businesses can make considerable profits if they take the time to plan and prepare for entry into the market. The better prepared a business owner is, the more successful their operations will grow. The work isn’t easy. The hours are long and the challenges are considerable. However, for those willing to put the effort forward, the rewards are well worth working towards.