How to open a storage rental business

Written by Posted On Saturday, 07 April 2018 16:02

Starting a rental storage unit business usually does not require a lot of start-up capital. In addition, this type of business does not consume time and can be operated on a part-time basis. However, a few steps are vital to open this type of business and keep it functioning properly, involving little day to day.

Get a business license. Any new business needs to be licensed by the state. This license establishes the legal name of the business and assistance for taxes as well as for legal purposes. There is a small free license. Once the license is received, you will need to show up inside the office or workplace.

Determines which local competitors charge for their storage units. In many places, there is at least one rental unit for business storage, while in the largest places, there can be dozens. Call your competitors and review the monthly charge and how they calculate discounts for long-term use. Use this information to set up a payment structure.

Rent or buy a commercial lot for the storage units. Ideally, this lot should create a paved floor to reduce the amount of expenses that will be incurred for the start. The lot will also need to be established as a commercial to avoid any potential situation in the area. Renting a lot may be an inexpensive option for startups, but it will require an income and have the potential for long-term costs as rates increase.

Buy and install your storage units. These units are prefabricated or you can mount them in your space. Get several ideas from local companies that offer metal constructions and see what options there are before deciding the right type of unit for your business. The doors must be closed and the size of the individual units will be determined by how long and how big the lot is and how many units can enter.

Start advertising your business. Rental storage units can be advertised on local papers, radio stations, flyers and even online. Contact your local media once you have opened to see if they fit for your new business at the level of people's interest. Emphasize technically how people Find a Self Storage Unit as yours. Other promotional ideas include working with the local Chamber of Commerce to have a ribbon cutting ceremony to announce your business.

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