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The Rapid Rise of the Self Storage Industry

Despite having been in use for some time now, self-storage units are still new to many people across the globe. However, the rate at which their use is growing is quite amazing. The use of some offsite storage facility for your belongings was unheard of in the past. The only option for those with excess items to keep in their house or office was to quickly sell them off or donate to family or friends.  Even with the few storage options available for storage, accessibility was a major concern. Today, things have changed with the proliferation of self-storage units in many parts of the world.

 

The inception and use of self-storage facilities began in the 1960s in Texas, US. They started as tiny storage garages where people could leave their belongings at a fee and were mostly situated at the periphery of suburbs and cities. With these small establishments on former fill sites and in drive-in theatres, the concept grew into a big idea that has now been embraced in many parts of the world.

 

The Self-Storage Concept in the US

 

Having started in the US, the concept of self-storage units didn’t take too long to prove its worth among residents. Looking at the mobile lifestyles of Americans, it was definitely a perfect solution that addressed their storage shortage needs. With these facilities, one didn’t need to think a lot or rush to making decisions over their belongings. To allow time for rest or negotiations in the case of business enterprises, one could comfortably keep their items in a self-storage unit for a specified period of time.

 

According to the Self-Storage Association Industry fact sheet, there were over 6,500 self-storage units providing close to 290 million square feet of space for rent.  By 2010, the US had 46,500 storage facilities providing 2.24 billion of square feet for storage. Common uses of these storage units included space for furniture, bottle cap collections, holiday decorations and exercise equipment not in use. From the look of things and in comparison with other industries around the world, the self-storage industry is ranked as one of the fastest growing ones especially in the commercial real estate industry of US for over three decades now.

 

In 2013, the self-storage industry was believed to continue with is growth trend due to the increasing demand, a limited supply of such solutions and rising rental rates for conventional buildings serving as offices or storage facilities. The growth projected over a maximum period of five years ending in 2018 but is still noticeable to this day.

 

Growth Expectations for the Self-Storage Industry

 

Even with the little exposure and visibility of self-storage facilities compared to mainstream real estate investments, the industry is more than $20 billion worth per annum serving many locations around the US more than fast food restaurants like Subway, McDonalds and Jack in the Box put together. Investments in this industry are being made by both huge and small establishments in the US. Leading brands include U-Haul, Public Storage and Life Storage among few others.

 

Small business entrepreneurs have also made a huge contribution in this industry by owning 75% of all self-storage services in the country owning at least one primary storage unit.  This phenomenal growth in self-storage has been fueled by a highly transient society. There are many people on the move in and around the United States. They are constantly downsizing, upsizing or combining households. This creates a need for storage making self-storage facilities popular amongst them. 

 

Today, self-storage units are the place to keep items for deceased loved ones and store extra items at homes and in business establishments. Office documents, extra furniture, electronic equipment, artworks, holiday decorations can safely and securely be kept in self-storage facilities for as long as the owner desires.

 

Final Remarks

 

The self-storage industry has grown immensely with public storage Santa Ana facilities provide residents with solutions to their storage shortage needs. Due to the mobile nature of people’s lifestyles these days, a solution was needed to take care of their belongings while on the move and this was none other than the self-storage units. Students can safely keep their items in these facilities and travel during their gap year with homeowners keeping their belongings when renovating their homes.

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