The self-storage industry is booming right now, and it doesn’t seem to be slowing down. In fact, it’s currently a $22 trillion industry.
Are you interested in breaking into the self-storage business? Do you want your own storage unit for personal use?
Whatever your end goal is, you may want to consider building your own storage unit that meets your specific needs.
If you’ve been wondering how to build storage units, keep reading. Explained below is everything you need to know.
Things to Consider Before Building
Before we get into the specific steps you need to take when building a storage unit, let’s first go over some basics that everyone ought to keep in mind.
No matter what your reasoning is for building a storage unit, consider these factors before getting started:
Location
Where are you going to build your storage unit? You’ll need to find a location that makes sense for your business and allows you enough room to build and expand as needed.
Economic Feasibility
Think about what you can afford, too. What kind of budget are you working with? If you plan to earn a living from these units, you’ll also need to think about what you’ll need to charge for them in order to have a profitable business.
Team
Consider who’s going to help you with this project, too. You can definitely build storage units by yourself. However, it’s a pretty tall order to take on this task totally on your own.
Be sure to think about who you’re going to hire to help you and what tasks they’re going to perform. This will help you streamline the building process and ensure you get done on time, too.
How to Build Storage Units
Okay, now it’s time for the fun part. These are the steps you’ll need to take if you want to build your own storage units:
Set Your Budget
The first thing you need to do when building your own storage units is to figure out how much you can afford to spend. When you’re building a storage unit, there are a lot of costs you need to factor in, including the following:
• Cost of land
• Cost of materials
• Hiring costs
Make sure you account for each of these costs and leave yourself a decent cushion, too. That way, if an unexpected expense arises, you’ll be able to handle it without having to go further into debt.
Write a Business Plan
If you plan to use your storage units as a revenue stream, you ought to have a business plan written out for them, too.
Your business plan ought to explain what you’re going to charge for each unit, what the rental terms will be, and when you expect to start profiting from your storage units.
A detailed business plan will give you some guidelines to follow as you continue with the project. It will also come in very handy if you have to borrow money to get things going.
Choose Your Location
Once you know what your plan is for your storage units and how you’re going to pay for them, it’s time to start searching for the perfect location.
Consider how many square feet you’ll need and where you want to set up shop. For example, do you want the units to be located close to your home or your office? Do you want them in a central location where lots of people will be able to access them?
Consider Your Unit Mix
How many different types of units will you have? Do you want them all to be the same? Do you want different sizes that you’ll rent out for different prices?
Consider whether you want to invest in other unit features, too. For example, do you want them to be climate-controlled? Do you want both drive-up and indoor-access units, or just one or the other?
Hire Your Team
Now, it’s time to find the people who will help you with this project.
What kind of assistance do you need? Do you need to hire someone who can oversee the construction of the units? Do you need an electrician or plumber for the main office?
You may also need legal and financial experts on your team to help you get your business up and running when the construction is complete.
Plan the Site Layout
Once you’ve hired the members of your team, you’ll need to work with them to figure out the layout for your storage units.
Where will they be located within the property? How will they be organized to allow for maximum efficiency?
Get your team involved in this process to ensure you have a layout that works and won’t cause any problems for the people using your storage units. This will also help you align your project with the building codes and other regulations that are in place in your area.
Perform Check-Ins Often
If you have a team who’s handling most of the day-to-day building tasks, be sure to check in with them on a regular basis. As with any kind of construction project, it’s important to be involved in the process to ensure everything’s going according to plan.
It’s a good idea to drop in on the site a few times per week (if not more often) to find out more about what’s going on and whether your team has run into any problems.
If you neglect the construction site, you might end up spending more money later on to fix mistakes that could have been corrected earlier.
Build Your Own Storage Units Today
Now that you know how to build storage units on your own, it’s time to get to work. If you follow these guidelines, you’ll be amazed at how easy it is to build storage units for yourself or as part of a larger business.
Do you want to learn more about storage unit construction or construction in general?
Check out some of our other construction articles today for more information. We also have lots of tips on hiring qualified individuals to help you with your upcoming projects.