Self-storage business involves renting out storage space to individuals or businesses for storing most non-toxic, non-hazardous, non-perishable materials. To start a self-storage business, first you need to know about the costs involved, physical requirements of the storage space, investment needed and factors for successful operation of the business. Extensive research about the industry is a must before you go about setting up your business. You can find a lot of useful information on the internet. Next, make a business plan recording all the costs involved in the business such as renovating the space, whitewashing the walls of the storage space, etc. Mention the amount of investment needed, the profits expected, potential market, the demand and supply of self-storage businesses in the local market, the marketing plans and expected income. Research about rent charged in your city by self-storage businesses. Know about the space requirements of the consumers and the purpose for which they use the storage spaces most. The requirement of storage space will vary according to the usage of the space. For example, space needed to store documents and files will be different from the space needed to store industrial machines. Also find out which area in your city is the most popular area as far as self-storage requirements of individuals and businesses is concerned. Detailed research will help you make a successful business plan and estimate all potential costs for starting this business. Present the business plan to a bank or other financers to back your investment if you do not have sufficient funds. Get necessary licenses and permits. Choose a suitable name for your business, register it with the state licensing agency, and get started. Market your business well. Get flyers and business cards printed for your new business. Put up advertisements in your local newspapers, distribute flyers during community events, and hand out your business cards to your family members and friends whom you meet. Contact other self storage business owners in the neighborhood and find out about the rent prices they offer. Establish competitive rental figures based on the prevailing market rate. Screen potential tenants and sign a rent contract with them which delineates all the terms and conditions pertaining to your rental contract. Also clarify with your tenants all the rules of rental payments and the actions you may take in case of default in rental payments.

You can start by buying self storage facilities, or try to build your own if you had enough budget, after that legal permission to operate, try to canvass the amount you need to pay for your workers, also taxes and maintenance. http://www.storageworkstexas.com

oophs! I missed my mark.

Depending on how much starting capital you have, build from the ground up. Taking nothing away from AB. Make note of the many things he mentioned to run a business properly. The land needs to be properly zoned. Some factors to consider before building. Ensure the building has various storage sizes, that can be secured properly from each unit. The more amenities you have ( electrical outlets, water, light switch, light for room ) the less profit you make. I’m not saying don’t put lights to light up the buildings at night, yes. You need lighting, but that is a necessity for the cameras and building security. If undecided, You might consider so many units to have some utilities and charge a little higher. But remember, If that unit sits empty, you still have to pay the minimum basic utility charge whether rented or not. Low maintenance landscape where water and very minimal landscape maintenance is required. So many little things can make a difference on how well you succeed. Sometimes it’s the little things that can break you. One goal in mind, build your business with the lowest operating cost possible. CONTINUED ‘Not saying to build a cheaply made building, a very quality building with minimum unneeded utilities. Make the units toward “Self Service Storage “at the gate. No need to hire employees, huge money saver. You might hire a standby maintenance person that can respond to emergencies. Have a coded number for each tenant for egress and ingress and ensure you can monitor all in and out traffic on a computerized system. A proper camera system can back track any past movement on the property. Have 24/7 camera’s mounted to cover the entire outdoor site with a computer based camera that records with at least 500 gb or more memory, with motion detection and an alarm that will trigger your computer or cell phone if an unauthorized entry is in progress. Ensure when you pick your software and camera system, that you have enough guest users sites so each tenant can have the capability to check there storage area by logging on to your website. It’s like having free security service, because they will be using that service. A win win situation, and your tenants will love it which means more integrity for your business, which is very important. Many other things to consider. I’ve been in the Real Estate business over 25 years in 3 different States and had my own Real Estate Office in the State Of Washington to which I’m now retired. So if I can help further, contact me. One last thing to add. My added opinion, A storage business is one of the most desired as far as small business’s are concerned in my book.. Low or very minimal daily running is the key, to a profitable venture and very saleable business should you decide to sell in the future.

Starting up a business is very crucial you need to have a good phone system for small business. Having good communication with your clients would be a great advantage.Get a phone system now. I recommend http://www.pbx101.com. They are good phone system provider.