Industry News and Updates

DSC_0395smallSelf-storage is teeming with recent industry news and updates. Higher occupancies, proximity to retail space, and increased competition are just a few of the ways that storage executives are expanding their businesses. Dedicated to providing better service to consumers, executives are also making large leaps in creativity – an ideal not typically attributed to the industry.

Facility Expansion

The recession was not kind to the self-storage industry. The good news: full recovery. Most storage companies have begun to add on to their existing units or create new facilities altogether in response to consumer demand. They have to. Consumers are feeling more comfortable about renting units and occupancies are on a notable rise.

Industry specialists have also discovered that building storage units next to retail space is a good business move. Stores draw in heavy foot traffic, so if a self-storage company can score a spot next to the local fashion retailer, they are likely to gain more business. Rent may be higher, but usually income will be, too.

Adjoining with retailers is not the only way the industry is fostering more intra-competition. Companies are improving their first impressions and offering better facilities for their customers. At the very least, they are keeping their current buildings in top shape. Many are going above and beyond by modernizing their space, creating luxury units, or implementing large, multiple-story facilities.

Industry Creativity

Executives are coming up with creative ways to target their demographic. In more urban, historical areas, companies are converting lofts or old factories into storage space, keeping the exposed brick and rustic charm. Eco-friendly spaces are being constructed as well.

The age of social media and virtual interaction has inspired companies to establish more of an internet presence. They are offering more online booking options, keeping their websites current, and promoting their services instantaneously.

The face of the industry is continuing to change, and it’s really exciting.

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