Do you want to start a self storage business by buying a franchise? If YES, here are 11 best mini self storage franchise opportunities for sale and their cost.
The major aim of a self-storage business is to make it easy for people to store their personal belongings without fearing for its safety. These businesses also take care of other businesses that need storage space for equipment like office supplies, furniture, and more. The lack of space in homes and offices, and the need to store and forget about items, are the driving forces behind self-storage businesses.
Individuals who succeed in this business are majorly people who enjoy working with people and are excellent when it comes to tenant relations. It helps to have simple maintenance skills to fix some of the things that may need repairs in your storage facility.
You should be able to use a ladder to change light bulbs and be able to keep the place painted nicely. Research has shown that most of the storage spaces are owned and operated by a team. Interested new tenants are shown the facilities.
Applications need to be taken and processed with background and credit checks. Security deposits, key deposits, and the collection of rental payments, all need to be handled properly. Monthly accounting records need to be up-to-date and accurate.
It’s important to state that for you to succeed in this business your facility needs to be kept clean and constantly supervised to prevent vandalism and theft. Rent for any storage space that is past due needs to be collected, and if there is a serious problem with the rental payments, the proper legal processes need to be taken to manage the problem.
This may involve turning the account over to collections, filing court papers, giving eviction notices, and/or selling the items left abandoned in storage spaces after the correct amount of time has passed according to local laws and the rental contract agreement.
Statistics has it that the contents of about 155,000 storage spaces are auctioned each year, for an average price of $425, because of past due rental payments.
Meanwhile, the best customers are the ones that have a longer-term need for storage, such as a military member who is on active duty outside of the united states, and who is able to pay for the monthly rental by using some method of automatic payment, such as a monthly credit card payment or an electronic fund transfer (EFT) from a bank account.
Also, the most popular storage size is a 10’ by 10’ by 10’ space with the best customers renting one for up to two years or more.
Income streams of this business include monthly rental collections, auction proceeds from past due accounts, fees, and sales of related products such as moving supplies and locks. These businesses also make extra money from administrative fees, lost key fees, lock removal services, late fees, and other fees, in addition to the normal rental fee structure.
Also note that some charge premium rate for rental of storage spaces in a climate-controlled building. Others offer insurance, for an additional monthly premium, to insure the contents of the items placed in a storage space.
According to industry reports, the industry sector has everything from locally run single storage facilities, to huge major national operations with thousands of locations. There are over 54,000 storage locations in America that bring in over $30 billion in annual revenue. You can easily start this business by viewing the franchises briefly explained below and their costs.
11 Best Mini Self Storage Franchise Opportunities for Sale and Their Cost
- Go Mini’s Storage and Moving
This company has turned into the quickest developing organization in the $9 billion versatile stockpiling industry offering establishment proprietors the capacity to convey unrivaled items that purchasers perceive and incline towards.
Note that Go Mini’s franchisees are given unmatched support with demonstrated advertising and operational frameworks and they can exploit a basic model that doesn’t require an extensive staff, stockroom, or retail front.
This company was founded in 2002, and it turned out to be one of the quickest developing convenient stockpiling and moving organizations in North America with 166 areas in the United States, Canada, and Mexico. In 2012, Go Mini’s changed over into an establishment model and now has 79 establishment areas inside the United States.
- Initial Investment: $198,732 – $406,924
- Initial Franchise Fee: $45,000
- Royalty Fee: 8%
- Advertising Fee: 2%
2. MyWay Mobile Storage
The MyWay Business model benefits you with its simplicity in today’s complicated economic times. Have it in mind that the company systems are designed to remove many of the everyday hassles normally associated with running a business.
According to the company, it’s national sales / customer service center eliminates the need for you to hire sales, customer service, order entry, billing, and scheduling personnel. Attracting customers is challenging with today’s ever changing technology. The MyWay Mobile Storage business model is designed to take advantage of the cost-effective digital marketplace.
- Initial Investment: $100,000 – And Up
- Initial Franchise Fee: $50,000 – $450,000
3. Storage Authority
Storage Authority Franchising is ever ready to offer you the knowledge and help you need to get off fast. They will also provide you with systems and experience that will make a difference in your business. Storage Authority’s high demand manager driven operations, sales and marketing systems & platforms are revolutionizing the self storage industry.
- Cash Investment: $500,000
- Initial Investment: $3,000,000 – $6,000,000
- Initial Franchise Fees: $35,000
SMARTBOX is a renowned company in the $40 billion dollar a year moving and storage industry that has seen significant growth over the last two decades with no signs of slowing down. SMARTBOX’s evolutionary approach is changing the shape of this industry as more and more customers make the SMART choice. SMARTBOX provides all the tools you need to run a successful franchise.
From their start-up programs to ongoing training and support, from it’s National Customer Order Center to their innovative marketing programs, the dedication to your success is the company’s primary goal. SMARTBOX provides initial and ongoing training and support at your local franchise operation and at the Company’s Richmond, Virginia-based training facility and model storage center.
- Initial Investment: $750,000
- Net-worth Requirement: $1,500,000
- Cash Requirement: $300,000 – $400,000
- Total Investment: $750,000 – $1,500,000
This company is the latest concept in self storage. It’s an actual over-sized condominium storage community where individuals actually own their unit instead of renting. GarageTown owners can build equity while enjoying the privacy and convenience of their own garage. GarageTown units are big, heated, secure, and, most importantly, available for the owners to use, anytime day or night.
Most GarageTown storage condo units feature 14′ high, automatic overhead doors, pedestrian doors, heat, individually-metered electric service, dedicated RV power outlet, fluorescent lighting, fire sprinklers, phone/cable access and full insulation. One can even use up to 10% of their unit as office space, making it an ideal location for the small business owner.
- Contact company
6. Units Moving and Portable Storage
UNITS® directly competes in the portable storage and moving industry that covers four very large industries: Self-Storage, On-Site Storage, Self-Service Moving and Inter-Franchise Moves (Long Distance). Over the last decade UNITS Moving and Portable Storage has forged a proven operating system designed to help it’s franchisees dominate market share over and above their competition.
The ideal candidate for UNITS® Moving and portable storage is someone who has or has held a corporate job and desires to build a large overall asset through tangible assets/real estate.
Note that the company’s great performers have strong leadership and great people skills. The most successful franchise partners have a management background with an understanding of sales and marketing. The franchise minimum net worth requirement is approximately $1M with $300K in liquidity. The franchise models are easily financed through preferred vendor programs as well.
- Liquid Capital investment: $500,000
- Initial Investment: $288,691 – $460,845
7. WG Storage and Delivery
WG Storage & Delivery is a rare, once-in-a- lifetime opportunity to be part of a sophisticated, prestigious company. It’s not only an exciting opportunity, but a chance for a personally satisfying career, providing the highest level of service in the industry.
WG Storage & Delivery is a brand new franchise opportunity. The company currently operates 2 corporate location in Austin & Dallas, Texas. You have the opportunity to take advantage of a $12 billion moving industry with your own WG Storage & Delivery franchise.
- Initial Investment: $75,000-$300,000
Traditional mini storage facilities can be limited to a five to seven mile radius for potential service and are usually built only after completing time and feasibility studies. This process requires costly permit fees. PODS breaks through traditional mini storage barriers and penetrates into conventional mini storage markets.
PODS franchises are able to service a market within a 25 mile radius from the warehouse. Since PODS offers delivery to the warehouse, expensive, high profile real estate is not necessary. PODS units are stackable, so you can maximize your space by three times the traditional warehouse potential. It all adds up to more money to the bottom line.
- Cash Investment: $9,500
- Initial Investment: $9,500 – $9,500
- Franchise Fees: $9,500
9. Big Box Storage
Note that this company is generally seeking only one qualified franchisee in each major metropolitan market in the United States. Qualification is based primarily on the prospective franchisee’s overall business acumen, entrepreneurial spirit, and available investment.
Simply stated, the company is desirous of creating relationships with entities that are as committed to success as the company itself is. The list of potential franchise markets is limited to ones that possess a minimum population of 500,000 residents, although most of the company’s defined markets are home to well over one million residents.
- Cash Investment: $9,500
- Initial Investment: $45,000 – $70,000
- Franchise Fees: $9,500
U-Haul is the number one name in moving & storage and that translates to more customers for them. U-Haul Dealers get their business from millions of potential customers via uhaul.com and by phone at 1-800-GO-UHAUL. In addition, the company provide it’s dealers with the advertising and promotional materials they need to market their dealership, including signs, banners, product literature and moving guides. U-Haul will bring more customers into your business.
- Initial Investment: $32,000 – $91,000
- Cash Investment: $32,000
11. Zippy Shell
Zippy Shell Incorporated provides portable storage and moving services to individuals and businesses by offering local and long distance moving, mobile storage, on-site storage, loading, unloading, and packing services. The company was founded in 2009 and is based in Washington, District Of Columbia. Zippy Shell also provides franchise opportunities. As of 2017, the company operates 36 franchises in the United States.
- Initial Investment: $657,450 – $1,219,830
- Net-worth Requirement: $250,000 – $500,000
- Cash Requirement: $250,000 – $500,000
Starting this business is without doubt a brilliant idea, but be sure to do your own extensive research before you invest into any of the above franchises.