It can be quite difficult to come up with the exact amount it costs to start an RV storage business as the figures will vary depending on certain business-related factors. RVs have basked in popularity in recent times, especially since people can use them as homes and for camping.
The issue with them is that you just can’t park them anywhere. Since a good number of places in the United States possess restrictions when it comes to parking boats and RVs, storage operators can leverage this viable opportunity to cater to the resulting demand for space.
Creative facility operators not only provide storage for these massive vehicles but also a host of complementary services.
Factors That Determine the Cost of Opening an RV Storage Business
Unit Type and Size
The level of demand as well as the regulation in your location will most often factor in deciding the type of storage you should provide. You can choose to develop a structure that is as basic as large, outdoor parking spaces or as intricate as fully enclosed units.
You can also choose to put up something in between, like an open or three-side canopy. Howbeit, in this modern age, people want more protection for their businesses and this might mean covered structures. There are four main types of storage for boats and RVs, and each has advantages and disadvantages. They include;
- Fully enclosed building
- Three-sided storage canopy
- Standard storage canopy or outside parking
- Outside parking is just that parking space
Regulations and Taxes
In this line of business, when it has to do with weighing costs, many business owners neglect the importance of checking to see if their storage canopies or three-sided RV storage units are considered buildings by their local tax authority.
This tends to have a significant impact on the tax assessment. Owing to that, it is important you carry out extensive research prior to making a decision about unit types to build.
RVs and boats are known to cost around $500 to well over $1 million, as such security is very important. At the very least, you will have to consider perimeter fencing, and this could consist of anything from chain link and razor wire to solid block walls.
Since 24-hour access is most often a requirement of this type of storage, camera surveillance, and key-coded entry gates are also necessary.
You will also want to position the Ingress and egress keypads 42 inches and 66 inches from the ground to accommodate the window heights of cars and RVs. You will want to have a camera aimed at vehicle license plates as they enter and exit the facility.
Don’t forget the importance of good lighting for security and safety. It is always important you consult your local codes prior to planning your lighting,
This is another factor that will determine how much you put into this business. However, one thing to realize is that the additional products and services you offer in conjunction with RV storage also depend on the needs of your clients. People enjoy stretching their vacation time to have as much fun as they can, so the more convenient it is to store at your facility, the more likely you are to generate more revenue and keep tenants.
And since the core services these businesses offer are known to appeal to higher-end clientele, it is ideal to consider inculcating things such as wash bays, propane stations, etc.
Regardless of the sort of storage type or amenities you offer, what is considered most necessary in this business is supply and demand. The promising potential of this industry makes it one of the best options to consider when looking for a viable business to start.
Nevertheless, if you have space and want to make the most of it, consider establishing boat/RV storage. You will relish the high growth, excitement, and margin that comes with this opportunity.