While investing in a storage unit isn’t the most charming asset in a person’s portfolio, they’re still smart investments. Today, many individuals and businesses alike have a growing demand for self-storage facilities, and this is because of the continuous change in lifestyle choices, market demands, and business tactics.
Whether it’s RV storage or boat storage, every storage facility serves several purposes that can save and earn you money at the same time. On that note, this article will explore the reasons why it’s a smart idea to invest in a storage unit.
1. It allows for bulk purchasing.
Whether you’re a business owner or someone who manages the affairs of a home, having space to keep bulk purchases is a great storage option. First and foremost, it allows small businesses to take advantage of bulk pricing and purchase items in bulk. Second, bulk buying can save a business significant amounts of money.
When individuals and businesses buy products in bulk, they can save more money because of the reduced inventory pricing. Having a self-storage unit to keep these items makes such a purchase worry-free. So you see, sometimes, businesses can afford to make these bulk purchases, but the real issue is where to keep them.
If you’re ever in a situation like this, the best solution would be to search for nearby storage facilities. It would be best to opt for a company that offers the first month free, just so you can test the waters. A quick Google search of “storage units near me first month free” will likely deliver some viable results. Also, note that the best self-storage facilities should be able to provide full-service storage, 24-hour access storage, and a variety of sizes for you to choose from.
2. It’s a safe and secure way to store valuables.
Theft is a crime that plagues many parts of the world, and the United States is no exception—with workplace theft costing U.S. businesses over 50 billion dollars yearly. According to security magazine, SMEs accounted for about 68% of these cases. This shows that companies need to implement more innovative ways to store their valuables, and owning a self-storage unit is a plausible option.
Business storage units allow companies to keep important documents and inventory safely and securely under the watch of security personnel, surveillance cameras, and unique locks and alarms. Also, individuals benefit from investing in storage units as it’s a safe place to keep valuable and inherited belongings like jewels and luxury timepieces or wristwatches.
For instance, if you’re a watch brand collector with an unrivaled luxury watch selection like Cartier, Rolex Daytona, and Rolex Datejust. Having access to a climate control storage unit will help you safeguard this collection and keep them in good condition.
Besides, you can also sell preowned watches on Watchbox and earn money. Watchbox is the world’s leading watch market that savvy watch enthusiasts trust for timepiece trade-ins on all kinds of luxury watches.
3. It’s a great option for off-season storage.
Far too often, people stuff their garage with seasonal equipment and items that they don’t frequently use, like their Pit Boss grills, griddle, and faulty burner. You can do many things with your garage space, and stuffing it with these pieces of equipment is simply a waste of space. A great alternative would be to invest in a storage unit.
Furthermore, students who have to return home after a summer term may not want to carry all their items, and storage space makes a secure option. They can keep all their personal belongings like a sofa, bed, CD player, and television in a storage unit, knowing that it’ll be safe and in good condition when they return to school by September.
4. It’s recession-resistant.
Every day, Americans accumulate more items that they’re unwilling to let go of, despite their limited storage space at home. As such, storage units are becoming an increasing option for people who want extra space to keep their belongings, but at a minimal cost.
With millennials struggling to own houses and baby boomers downsizing, an increasing number of people are opting to live in smaller rental apartments, which means an increase in demand for self-storage units.
Although, the biggest demand driver for self-storage comes from people who are moving or relocating. Regardless, the point is, recessions, change of jobs, divorce, and other life-changing events are the common reasons why people downsize and relocate. Therefore, while other businesses may be struggling to stay afloat during recessions, you’ll be raking in more income as a storage facility owner.
Admittedly, owning a storage facility comes with risks as competition and increasing supplies in some areas put pressure on occupancies in certain regions. To mitigate against this risk, ensure that you carry out thorough market research and target micro-areas that aren’t saturated. Regardless of the risk, a self-storage business remains recession-resistant because it booms when there are changes in living situations.