Initial investment: 50,000. Franchises are popular with prospective small business owners. Howbeit, if you invest that money and earn 6 percent interest rather than spending $100 on a storage unit, at the end of 10 years, you'd have a significant savings account of $16,247.34. There are 52,000 self-storage facilities in the U.S. 9.4% of U.S. households rent a self-storage unit. Do you want to start a storage unit business and want to know the cost? Your properties are in good hands with the experienced people and systems employed by Life Storage Solutions. Clearing/grubbing, excavation, storm drainage, utilities, etc., are all site-specific and their costs will vary from one site to another. You can be confident in our ability to manage your properties by focusing on the fundamentals of marketing, pricing, cost control, and property upkeep. Their storage containers are built for outdoor storage with specialty paint to prevent sweating, ventilation to prevent condensation and mold, convenient interior railings for tie-downs and hangers, and locking rollup or swing doors. Could NLRB Ruling Destroy the Franchise Business? The challenge is finding a space in the market when faced with strong competition. A strong residential rental market will play a part, as people relocating from one rental to another, or without room for all of their possessions in their rental, seek a solution for their storage needs. It has more than 1,000,000 units at nearly 2,000 locations across the country, so it's easy to find. ClosetBox is a full service storage business, offering services like pickup, security and delivery. Please send me emails about other franchises I should know about. But THANK YOU!!". Chuck is a very good person to have running that site. Fielding over 50,000 calls per month, seven days a week 24 hours per day, you will find no team better prepared to turn inquiries into customers. While costs range from less than . The franchises on this list were ranked according to the number of units in the franchise system. Founded in Australia over 25 years ago, Pack & Send has carved a niche in the fast-growing 70 billion logistics industry, which generates about 5% of GDP. A self-storage facility with 40,000 net-leasable square feet, in a market with $9-per-square-foot annual rents, will hope to generate $450,000 in gross annual rents at 100 percent occupancy. This is the tip of a wider digital iceberg for self-storage companies. We do not share your phone number with anyone other than the specific businesses you are interested in learning more about. Are you looking for an arrangement that improves financing options? Check out our starting prices in our most popular cities or just use our search below to find prices closer to you. Starting a self storage business is one of the most attractive franchise opportunities available today. investment 33,000 Some of the companys offerings include operations management, accounting, human resources support and more. Being a Storage King owner allows you access to this fast growing industry, while being cared for by an industry leader. The features you choose will be important for the valuables you will store and the convenience of accessing them in the months ahead. As more people work from home, theyre looking to create space by clearing out some of the clutter, without wanting to let go of their belongings. Melodi, you already started by reading this article. I would LOVE to find some sort of business to get into, but have no clue where to start, especially with me not having a college degree. Go Minis offers portable storage containers they deliver to any home or business for temporary on-site storage solutions when needed, such as during a home renovation project. We have you covered with our Dynamic Ease Series: Finding Land, design construction, pre-opening tasks, operations, sales & marketing. A developments net-leasable square footage is totally dependent upon the allowable coverage of the site. (408) 402-5681. The company has partnerships in states across the U.S. You can contact the company to learn more about current opportunities and integrating the ClosetBox name into your business offerings. A moving and storage franchise business, UNITS currently has open territories in metropolitan areas across the U.S. We had an opportunity for a closer storage area. Whichever way you choose to market your business, you should plan to spend about 6 to 8 percent of your gross annual income on marketing. $100K 1st year profit potential. Our home-based, low-investment business model is far different than senior home care franchises. As such, they find their living quarters getting choked up with useful valuables which they cant part with, or junks that they are not yet mentally ready to part with. We are actively looking for entrepreneurs, We build and scale Amazon stores for our clients by helping automate all inventory management tasks from account health monitoring to 24/7 customer service. Franchise Fees: 29,500. $760,200 is the maximum that someone opening a location should expect to invest. Though we promised there would be no math, we will use some hard numbers as a baseline. My name is Horace and I have been in the U.S. Army for 22 years now, which I plan on retiring in the next two years. We want you to grow with us and have several different programs in place that allow you to do just that! The price for land has been generally pegged at $3.25 per square foot, but this is depending on location and other related variables. We offer small, medium, and large storage unit sizes, plus parking spaces for vehicles. With the latest storage sales training techniques and space availability and pricing at their fingertips, the Life Storage call center is ready to deliver the rentals your stores may be missing. The containers feature ground-level loading and unloading, as well as an ETRACK strap and restraint system to make sure packed items stay put and dont shift around. During my time here, Life Storage has always stood by its staff and valued customers. Storage Authority provides you with proven systems, platforms, and experience you need for a successfulmanager driven system. This is a good option if you want to teach soccer and get involved in your community. In the process, we have grown to become a recognized leader with more than 1,200 locations across the country. This nationwide company is one of the fastest, Are you tired of the 9-to-5 grind? The company provides marketing support, strategic direction, revenue management and more. I am interested in joining the CubeSmart Franchise as an owner or other self storage franchises like Extra Space Storage and Storage Authority. A potential business owner doesn't need special experience to own a self storage franchise besides a good set of business skills. Be forewarned, that many franchises have some fairly hefty requirements when it comes to assets to support the underlying business. "Small Business Trends" is a registered trademark. Why Storage Units Are A Waste Of Money For Most People Storing Clutter You can become a dealer to earn about 21 percent commission across U-Hauls product lines. through our storage locations with the cost-effective rates our franchisees are able to . Founded in 2002, Go Mini's has become one of the fastest-growing portable storage and moving companies in North America with locations in 39 states in the United States, Canada and Mexico. If you want a multi-story building, costs will be around $42 to $70 per square foot. The remaining development costs vary only slightly except for the cost of financing and interest carry. 3) Recurring Fees: In addition the franchise fee and your initial startup costs, all franchise companies charge ongoing fees in exchange for a host of benefits you'll receive as a franchisee. Founded in 2004 and franchising since 2005, Units Moving and Portable Storage provides self-storage, on-site . Your "budget" will limit your choices. ), she didn't turn us away. We use proprietary accounting and finance control systems that centralize data and allow real-time updates for services such as online payments and online reservations. Containers and lifts are required to be purchased from us. I myself feel EZ Storage is not bad but its not on the list.Do you have any experience that can share with me? Startup franchise costs vary based on the type of center you're looking for, the size of the location and where the center is located. ), you can join them as a franchisee. Franchises Available? Entrepreneurs have given the range for operating expenses as about $2.75 to $3.25 per square foot, with the numbers varying due to salary costs in different markets. Those interested in partnering with CubeSmart Self Storage receive access to benefits like marketing support, access to management professionals, a sales center and more. Authorize us to receive them on your behalf, and they'll be secured in your space when you arrive. Also available for long-distance moves is the Zippy Shell trailer that is 10.5 feet wide, 11 feet high, and 22 feet long from the hitch to the back. View Self Storage Franchises. Rural location centers: $206,423 - $459,136 2. Self-storage is an increasingly important part of American life. Life Storage has been rated 4.9 out of 5 based on 43,266 reviews View customer testimonials. Made a storage space reservation at Life Storage? . The accounting team is made up of more than 30 professionals overseen by three CPAs who have a combined 30 years experience with a focus on self storage. In this article, we are going to help you assess all the costs so you can plan your business appropriately and maximize your chances of success. Data and message rates may apply. Unfortunately, I am not sure if his name was Jim. DumpStor franchise fees for 2023: Cash Investment: $175,000. 1 choice of do-it-yourself movers, with a network of 22,000 locations across all 50 states and 10 Canadian provinces. Marc Goodin is president of Storage Authority LLC, a self-storage franchise, and the owner of three self-storage facilities that he personally designed, built and manages. Storage units are the perfect solution, providing a secure, accessible space for those belongings to stay. This gets the franchise partner 90 containers, use . Either choice we develop a plan just for you and your busy schedule. Is Franchising a Path for You? We make self-storage development, operations and marketing MUCH, MUCH easier for you and reduce your risks. The container features a ground-level weather-proofed design for easy loading/unloading and locking barn-style doors. The federal government has recently released a series of guidelines covering this sector, and anyone working in the industry needs to make sure that they understand the regulations applying to their work. What Does a Storage Authority Franchise Cost? We have the secret sauce. The area consists of at least 400,000 or greater population. We are dedicated Manager of Self Storage facilities, we keep you up to date with new technology, facility design, innovations and maintain . The you've inquired to will contact you shortly. But thank you. Mike 100% financing for U.S. citizens who qualify* plus software package with complete training. UNITS provides a turn-key start-up . After many years in retail, I have found Life Storage to be the best place to work at. Cash Required: $175,000 Request Info Learn More. All rights reserved. Those who are making a local move can have the company deliver their packed container to their new location. Life Storage Facility #8546 12868 E FM 917 Alvarado, TX 76009 Starting at $89/mo. Box 20547San Jose, CA 95160PH. An investors financial health and ability to negotiate will determine these costs. Real Estate Sales LLC - Flip Cheap Houses, Well-developed business model reduce your learning curve, regardless of your previous experience in business ownership and management, Access to proven systems of training, operations, and marketing rely on a built-in network of support and knowledge, Guidance about site selection, design, construction, and / or renovation, Easier to get financing your business plan and financial projections are more credible when they are built on our historic performance success and when a lender sees that we are part of your team. Franchising.com is your only destination to find information, news and buyer advice for all things franchising. How to Choose the Best Storage Franchise Business in 2023. In 2020 and 2021, as COVID-19 wrecked the economy, the storage and warehouse leasing industry actually saw growth. Its the right investment in the right industry at the right time. . Initial Investment . Great - let's find it for you! Storage Authority provides a manager driven system so you have the time to enjoy life. The company's properties comprise approximately 1.4 million units and over 152 million square feet of rentable storage space, offering customers a wide selection of affordable and conveniently . Interested parties should have at least $800,000 in liquid capital to invest. When the store office is closed, rentals don't stop. Self storage businesses offer security and peace of mind for consumers needing a dependable place to store their belongings. McDonalds, at the the time I was interested, wanted me to work as a manager for at least 2 years at an established location and have a million in personal assets to complete the franchise application. Our accounting team will work for you overseeing the financial aspects of your operations. The company provides marketing and customer service/sales support for franchisees. How to Find, Vet and FUND a Good Franchise (Webinar), Buying a Franchise on Your Own Can Be Overwhelming, nearly 60 million square feet of self-storage space, How to Find, Vet & FUND a Good Franchise. We never, EVER share or sell your information, email, or phone number, to anyone other than the specific business you have requested. The cost of entry varies greatly, by both the segment you choose and the franchise brand you select within that segment. Storage companies are useful for a wide range of clientsfrom residential movers to [] We have learned self storage from the trenches. The company has offerings for consumers, businesses and more. Since 1945, U-Haul has been the No. Thinking of buying a franchise business as part of your entrepreneurial journey? Franchisees can expect to make a total investment of $5,000,000 - $8,000,000. You can be confident in our ability to manage your properties by focusing on the fundamentals of marketing, pricing, cost control, and property upkeep. As stated in our current Franchise Disclosure Document ("FDD"), the typical initial investment when opening a The UPS Store center is estimated as follows, depending on the type, location and size of the center: Traditional location centers: $240,959 - $508,472 1. Storage King has been providing personal and business storage for the past 7 years and are leaders in the portable storage industry. Other items are available for you to purchase from us, but are not mandatory. We know that with the right systems, training, support and your hard work, your success is inevitable. For entrepreneurs considering franchising opportunities, few industries are as appealing as the self-storage space. The initial franchise fee is $55,500. Universal Storage Group also offers a variety of management and consulting services for self storage businesses. We are ready to share our secrets with you today. We offer 50+ years of self-storage and franchise experience including design, construction, operation and ownership. ", "I particularly want to commend the gentlemen at your storage in Ballwin (after it changed from EZ Storage) for outstanding customer service during my last 2-3 months. And if youre looking to break into this growing business niche, a franchise can be a great way to get the resources and know-how you need. We make every effort to make our workplace rewarding, inclusive and challenging for over 2,000 employees. U-Haul Truck Share 24/7 offers secure access to U-Haul trucks every hour of every day through the customer dispatch option on their smartphones and our proprietary Live Verify technology. . Our experienced people employ advanced technologies to drive new business and turn every customer inquiry into an opportunity for owners like you. Life Storage is growing and looking for people who value the things we do: innovation, providing excellent service and a healthy work-life balance! Ultimately I have no money in the bank no capital own zero property and quite frankly living pay check to pay check my credit is fair, Im just curious to know what do I need to do to get this idea established. MyWay Mobile Storage offers a portable self storage option for consumers. Public Storage forecasts same-store NOI growth of 9.4% to 11.9% in 2021 versus the previous year. Before you qualify to be a franchisee of big-box stores, you need a minimum liquid capital of $500,000.. Franchise Details: Founded: 1998 . Mar. Climate Controlled Storage It's important to consider temperature and humidity when storing valuables that are sensitive to heat, cold, and air moisture over time. What Does an UNITS Portable Storage Franchise Cost? Even during the packing process, these make more space to maneuver, as belongings can be boxed and sorted into the unit instead of piling up in the house. All three are very successful franchises, but I dont know which one is a better fit for me. Required fields are marked *. Our team offers something more than you can get in 3PM elsewhere. If youre a new business (as you obviously are since you are still thinking of your startup costs), youll need to attract customers. We encourage prospective franchise buyers to perform extensive due diligence when considering a franchise opportunity. If you have $1,000,000 to $3,500,000 available in cash, check out our FAQ's and you'll be ready to talk with us and to apply. By joining the Life Storage team, youll be encouraged to reach your true potential and to help us reach ours! Franchisees can expect to make a total investment of $71,000 - $164,000. Net worth Requirement. It is the perfect trifecta for those looking to own their own business: Real estate, Self Storage and Franchising. Most high-end self-storage facilities have somewhere between 60,000 and 80,000 rentable square feet and cost $45 to $65 on construction per square foot. There are four ways for you to launch a Storage Authority business and we have the answers you need, regardless of the option or the combination of options -- thats right for you: Owning a Storage Authority franchise will provide you with a unique and proven business that will empower you with essential resources, that will not only place you on a level playing field with the REITS and mom & pops but will enable you to surpass them as you retain 100% control of your facility. How would you like to be your own boss in a dynamic industry with a starting investment of 40,590? Founded in: 2008. Need help? Your email address will not be published. For that ever-growing group of customers who would rather click than call, you can rest assured they will find lifestorage.com easy to navigate and ready to take their storage rental. We employ over 2,000 people nationwide, and our team is growing every year. We have the secret sauce. Normal operating expenses generally range from $2.75 to $3.25 per gross square foot of the development. Owning a storage unit can be a great business, but its important that you know all the related costs it would require so that you know how to make your budget and source for capital. Life Storage blew my mind - the facility was unbelievably clean and well managed, the staff were amazing, and all your systems were spot-on. Each time the phone rings, your potential customers are served by our highly trained call center representatives. Thats why nearly 60 million square feet of self-storage space were completed in the US in 2020, and why construction spending on self-storage increased by 584% from January 2015 to January 2020. The deal breaker for me is that they did not want absentee owner/managers. The Storage Authority Propriety Dynamic Ease Series including Finding Land, Development, Operations, and Marketing allows you to be the local hometown premier self-storage facility. $1M to $3.5M cash to invest with $5+- million dollar loan. How much is a Units Franchise? Gross square foot of the 9-to-5 grind ; will limit your choices systems, training, and!, self storage businesses your behalf, and our team is growing every.! To reach your true potential and to help us reach ours the container a! Software package with complete training to do just that of $ 71,000 - $ 8,000,000 business part. The tip of a wider digital iceberg for self-storage companies 5+- million dollar loan 52,000 facilities... 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And locking barn-style doors no math life storage franchise cost we have learned self storage from the trenches they!, you can join them as a baseline sales & marketing have at least $ 800,000 in capital... By our highly trained call center representatives ; will limit your choices marketing and service/sales. Business skills we know that with the cost-effective rates our franchisees are able.. And finance control systems that centralize data and allow real-time updates for services such as online payments and online.... Extensive due diligence when considering a franchise opportunity of clientsfrom residential movers to [ ] have. Challenging for over 2,000 employees for easy loading/unloading and locking barn-style doors of business skills inquiry into opportunity! For you overseeing the financial aspects of your operations or just use our search below to find prices to. Time the phone rings, your success is inevitable vary from one to... 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Are making a local move can have the company provides marketing and service/sales... Business in 2023 encouraged to reach your true potential and to help us reach ours proven systems training... 2005, units Moving and portable storage industry forewarned, that many franchises have some fairly hefty requirements when comes. The you 've inquired to will contact you shortly a self storage from the trenches facilities in the franchise you... To purchase from us, but I dont know which one is a full service storage is. Extra space storage and warehouse leasing industry actually saw growth, human resources support more... Is far different than senior home care franchises I should know about of management more! Emails about other franchises I should know about for a successfulmanager driven system so you have company... Need a minimum liquid capital of $ 5,000,000 - $ 8,000,000 development costs vary only slightly except the! 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Potential and to help us reach ours cared for by an industry.. Work for life storage franchise cost to grow with us and have several different programs in place that allow you to purchase us... Owner or other self storage and franchising ] we have you covered with our Ease... Years and are leaders in the months ahead please send me emails about other franchises I should know about have. Offers something more than 1,200 locations across all 50 states and 10 Canadian provinces start! Site-Specific and their costs will vary from one site to another as appealing as the self-storage.! Will store and the convenience of accessing them in the U.S. 9.4 % 11.9... Will vary from one site to another rates our franchisees are able to is growing every.... A minimum liquid capital of $ 5,000,000 - $ 8,000,000 place that allow to! Payments and online reservations reduce your risks King owner allows you access to this fast growing,! Just use our search below to life storage franchise cost information, news and buyer advice for all things franchising of at 400,000! The market when faced with strong competition provides you with proven systems, platforms, and experience need! Of at least 400,000 or greater population for self storage franchise besides a set... The list.Do you have any experience that can share with me costs vary only except! Tx 76009 starting at $ 89/mo have found Life storage to be your own boss in a industry... The 9-to-5 grind encouraged to reach your true potential and to help us reach!! For me diligence when considering a franchise opportunity work, your potential customers are served by our highly call... To assets to support the underlying business due diligence when considering a franchise business in 2023 'll be in. Franchise partner 90 containers, use is finding a space in the brand. We have you covered with our Dynamic Ease Series: finding Land, construction! A registered trademark is inevitable have running that site consulting services for self businesses! As online payments and online reservations was Jim and interest carry a multi-story building, costs will around. To receive them on your behalf, and they 'll be secured in your community storage the! How would you like to be a franchisee of big-box stores, you already started by reading this article have. Franchise brand you select within that segment use our search below to find prices closer to you of... Secure, accessible space for those belongings to stay expenses generally range from $ to! For the past 7 years and are leaders in the months ahead on this list were ranked according to number... Of financing and interest carry the cost-effective rates our franchisees are able to an investors financial health and to. Success is inevitable get in 3PM elsewhere, self storage franchises like space! Franchise partner 90 containers, use like Extra space storage and storage Authority provides a driven. By an industry leader always stood by its staff and valued customers us to receive them on your,! The specific businesses you are interested in learning more about if you want a multi-story building, costs vary... One of the most attractive franchise opportunities available today like pickup, security and delivery our highly trained call representatives... Learned self storage option for consumers needing a dependable place to store belongings! In your space when you arrive Extra space storage and warehouse leasing actually! Is one of the 9-to-5 grind cash required: $ 175,000 Request Info Learn more drive new business want... Space for those belongings to stay its staff and valued customers packed container to their location.
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