10 Important Self-Storage Trends to Watch For in 2020

10 Important Self-Storage Trends to Watch For in 2020

Self-storage is one of the trending things, which is growing day-by-day. The growth of the self-storage trend is creating new and unique opportunities for developers, operators, and investors. For example, the marketplace of the U.S. is continuing to be strong, with almost 10% of the population spending money on products.  

When it comes to the operation and growth of self-storage all over the world, there is a range of new trends coming into effect.

Interested to know about the self-storage trends? If yes, then here it is.

Smart Security

Security is one of the most important factors as there is an increase in the demand for self-storage units.

To stand out from the crowd, the operators must offer unique, innovative, and stunning offerings. As of now, the technology has developed a lot in terms of mobile phones, electronic locks, etc. All these have provided the tenants with more enhanced access.  

Smart devices allow remote access to monitoring activity and making payments over the apps more convenient. There have been advancements in features of smart security, which include authenticating access, allowing entries, and unlocking doors from a smart-phone that has made security features even more advantageous.

Though as of yet, some marketplace might not have enhanced security features. You, as an operator, can provide enhanced security options; and stand out from the crowd.

Kiosks

Kiosks are not a traditional mall but are interactive booths. With this, the users can control the process of self-storage from the initial stage to the end. This is one of the best options to plan their storage requirements 24/7.  

Self-storage kiosks consist of software, which has a direct link with the software database is used by the property managers. With this, the information as well as data can be transmitted without much effort.

Baby Boomers

The generation of baby boomers came into existence between 1946 and 1964. Thus, in the year 2020, the age of baby boomers will be somewhere between 60 to 64 years (average).

Now, you may think, what’s the need for baby boomers, right? If yes, then we must let you know that the requirement for storage will increase in this powerful generation. This is because many people are moving on to small apartments or condos and selling their family home. The population of baby boomers is one-third of the US population. Some of them are closer to their retirement, and they will continue to spend money on second homes and luxuries.

Thus, there will be rapid growth in the industry because of baby boomers.

Mobile Apps

In this current scenario, everything is possible with mobile apps, ranging from banking to fitness, to ordering food. Thus, managing self-storage apps is not a surprising element.  

Self-storage apps make the storage process an easy job, and as a result, it has received great value in the self-storage market. With these apps, you can search facilities, check your items, manage your contacts, etc. at the comfort of your home. Apart from this, these apps also help the users in communicating with the staff of the storage unit directly. This will help you to solve your doubts or queries without hassles.

Moreover, you can also create an access code to enter into the app for additional security.

Remote Monitoring

This is an amazing tool, as you can monitor things without leaving the comfort of your home. For example, a surveillance camera. Visualizing things in real-time is amazing and essential.  

As per the research, currently, more than 30 million surveillance cameras are installed all over the country. Many people are using these cameras to check who is standing outside their door, whether their packages are delivered safely to their home, etc.

This is what the remote monitoring system also does with the storage facilities. When it comes to storage units, the most common threats are temperature damage and theft.

A remote monitoring tool can help you monitor the internal temperature of your storage unit. Not only this but also will get alerts if any issue. Thus, this is the best tool for all the storage facility owner to enhance their storage facility services.

Automated Process

As of now, several things are becoming automated, which includes storage facilities as well. Storage facilities are making their entire process automated.

If you are a storage facility owner, then it would be good if you automate the entire process. This will help you save a lot of your precious money.

Artificial Intelligence

In every step of our life, artificial intelligence is making its unique way. This applies to a storage facility as well.

In the field of storage facilities, AI has shown its presence in the form of interactive robots. This has launched in Europe. The name of this robot is Keylo, a Kiosk, which helps the clients with the rental process. However, it different from the traditional kiosks.  

Stern Competition

Competition has become stern between the storage facility owners. They are struggling hard to stay up-to-date with the latest trends.

As of now, more storage companies are coming up, and that too with the newest technological trends. Thus, to succeed in your industry, you’ve to come up with remarkable and stunning ideas.  

Software

Software is playing a vital role in the growth of almost every business. Similarly, self-storage management software is an asset for storage facility owners. With this software, the owners can monitor the activities of customers, trends, sales, etc.  

When it comes to software, the latest trend is a cloud-based one. It helps the owners in knowing all the current aspects of the business. This, in turn, makes the daily task an easy process, enhances customer experience, etc.  

Real Estate

In self-storage, real estate market trends have not shown any signs of going down. These companies have maintained a balanced position even during recessions.   

Investors are looking forward to buying new builds as these don’t require too much maintenance. They are also looking for the ones that are equipped with the latest features and technologies.  

Conclusion

Therefore, the self-storage industry is growing tremendously, and technologically advanced features are being added from time to time. If you would like to know more about self-storage and how to get started with a self-storage rental business, please feel free to reach out to us.

What are the major benefits of using self-storage management software?

What are the major benefits of using self-storage management software?

As the self-storage business is unique with tasks and reporting unlike other businesses, the management software for self-storage must be designed to meet a brand’s specific needs. After investing both time and money into the development of self-storage business owners are faced with the difficulty of managing manual tasks while running their business. But too often, they rush into choosing any management software without analyzing whether it fits their needs or not. Due to the unique nature of a self-storage model, it is important to determine which program best suits your requirements today and tomorrow.

What is a self-storage management software?

Self-storage management software is a solution that provides the ability to manage self-storage units on the basis of facility size, budget, and operational requirements to meet business goals. Whether you own a small self-storage business or a well-established one, self-storage management software helps you in managing your storage facilities in a quick, methodological and professional manner.

Simply put, self-storage management software is a system that enables storage space owners to manage their storage units remotely and have all the key pieces of information available and accessible at all times. You can easily access the data on available storage spaces, booking, payment processing, etc.

This helps you save your valuable effort and time, control your workflow, and help you focus on other aspects of business more intensively. Alternatively, there are white label self-storage management solutions that help you to create a full-fledged website to develop your self-storage platform.

Benefits of self-storage management software

The advancements in modern technology have brought in significant changes in the ways we do self-storage business. The use of self-storage management is one of them, which helps businesses to have better control, enjoy improved efficiency and high productivity, and eventually deliver better customer experiences. The benefits of this amazing software solution don’t end there. Here are some of the benefits of self-storage management software for your self-storage business.

Convenience

The most significant benefit of using self-storage software is the incredible convenience it offers. This holds true especially if you are using a cloud-based self-storage system. This facilitates your business to access the data from anywhere when you have Internet capability.

You could be traveling at work or stuck at home, and still have access to all your booking information and billing reports. The self-storage managing software also allows you to have a degree of control over the business operations to make sure everything is running smoothly. This expedites your response to issues and allows you to enjoy greater control to set things in order.

Self-storage unit management

The fundamental function of self-storage management software is to allow businesses to manage move-ins and move-outs of self-storage units, keep a database of user information, and allow you to review the payment status of customers. Good software also comes with a

A user-friendly dashboard that gives you a quick view of the availability of spaces, occupancy, revenue generated, and other key metrics relevant to your business success.

Website design

Some self-storage management solution comes with web design features are an ideal option if you have no web presence and want to set your own self-storage platform. This comes with several advantages like seamless integrations between your online booking, inventory control, and other management systems.

User-friendly system

Self-storage management software offers a simple and user-friendly system to manage your business effortlessly. With user-friendly software, your team need not spend a lot of time to familiarize with the software system. Higher-end solution providers offer better customer support which allows enjoying the constant support and guidance in case you need any help after installation. Most software is PC and Mac compatible, allowing you to access the software from literally any computer system you use.

Inventory control

One of the primary benefits of software for self-storage business is to keep track of which storage spaces at your facility are available for rentals in real-time. Some software systems also give you a visual picture of available and occupied storage units through a custom storage facility map.

Process and collect online payment

The ability to process and collect payments online is a game-changer for self-storage space businesses. In this digital age, customers prefer to enjoy the ability to book and pay for self-storage units online.

If a customer comes to your self-storage website through an online search, the ability for them to book and pay for a storage unit online will impress them which will benefit your business in turn. Otherwise, most probably, they will continue their search to book your competitor’s services that allow them to pay online.

Recurring billing

Unlike the standard account management software, self-storage management software allows business owners to apply recurring billing. At any point while using your services, your customers can get a detailed report on payment details which all customers will appreciate.

As billing is made in advance for self-storage businesses, regular accounting software cannot offer complete payment information. This is where self-software management software becomes significant.

Efficient customer relationship management

Self-storage management software offers an automated way to proactively communicate with your existing customers and prospects. The software would feature many built-in trigger events to activate a customer relationship management process that you can configure. It also handles lead management allowing to automatically follow up and send notifications to respective customers. Altogether, self-storage management software is not just a customer relationship management tool, but a go-to multi-purpose tool to run your business efficiently.

Security integrations

The success of self-storage businesses lies in the security integrations it provides as security systems being the most important aspect of any self-storage facility. With self-storage management software, you retain the ability to lock out non-paying customers and customers who are not adhering to the policies which help to keep your self-storage facility more safe and secure.

The software is industry-specific

From the surface, renting self-storage units appears to be simple. However, in reality, it’s not.  It involves a complex set of business operations that needs careful execution. For the same reason, your self-storage software is industry-specific to deal with customers according to the specific industry. Each industry needs a specific self-storage management software system to compliment the business the best way.

Don’t have to worry about updates and backups

With a self-storage management software system, you need not worry about software updates and backups. You need not download or install anything. The management software will always be live and up-to-date. As the software can be updated so easily, any problem can be easily fixed, tested, and updated quickly. Finally, you never have to worry about backing up data and the software will do all these tasks on its own so that you can focus on other business activities.

Customer support

One of the most important factors while choosing any software is the customer support you receive. Self-storage management software programs that are web-based are more easily supported when compared to web-enabled software programs. The reason being, the solution providers can access the essential data along with the user, see exactly what they see and often fix the problems quickly. When picking a self-storage software system, make sure fee support is integrated into the package as well.

Things to consider when purchasing self-storage management software for your self-storage business

Choosing to invest in a self-storage management software system for your storage business is the most significant decision that drives your business growth. To make sure you are making the right decision, here are some of the key things to consider when buying self-storage management software.

Buy the software at the right time

When buying self-storage management software for their business, most brands make the mistake of being late with the software purchase. Many think that they can manage the business operations manually, only to realize later that it is hectic.

It is important to choose the software at least sometime before you officially enter the storage business. This is important as the software must be customized according to your unique business requirements. Having enough time to consider all the necessary features and customizations and then choose the best software is of key importance.

Choose a flexible self-storage management system

Your self-storage businesses will go through constant development which is impossible without making necessary customizations in the way you run your business. Hence, it is really significant to choose a flexible self-storage management system that adapts to your changes in policies to follow and support your business as it expands. Otherwise, you will really risk the smooth running of your business as your software fails to adapt to your business changes.

Get clarity about software terms

If you don’t understand the terms and conditions, you will have a tough time making an informed decision about which self-storage management software system is best for your business. For example, you need to understand PC-based software, web-based, and web-enabled software programs.

PC-based software is a web-enabled software system that can be installed directly on a computer system and doesn’t need to be connected to another computer. Whereas, web-based software is software on-demand system that requires an ongoing fee instead of a software license purchase. Web-enabled or PC-based software run in all Windows operating system environments.

Buy software that interface with other software systems you use

Most businesses select software systems without realizing it will not interface with other business systems. If you don’t choose a software system that doesn’t interface with other software systems, you use it. For example, payment integration systems, access control, electronic payment processing, etc. A mistake like this will prevent your self-storage software from following the growth and development of your business.

No flexible payment option

When you run a self-storage business, you must make sure you offer convenient payment options to your customers that will result in timely financial transactions and great customer relationships.

The software you choose must allow customers to make payments on your business website through electronic check processing or automatic credit card processing. The more options you offer to your customers; the fewer excuses your customers will have for missing a payment. This will also help in retaining your customers.

Choosing the wrong software solution

When you are investing your time and money into choosing the right self-storage management software, you need to ensure that you are making the right decision. Build a strong relationship with the solution providers, to pave your path to success. A good software system along with the relationship with knowledgeable, experienced, and helpful solution providers will ensure your long term business success.

Coming to an End!

The Self-storage software offers a number of benefits, but ultimately it’s up to the self-storage business owners to determine what’s appropriate for their business. Unique business requirements, budget, and a number of other factors play a significant role in your key decision. If you are choosing to invest in the self-storage management system, it is important to remain up-to-date about new technologies so you can operate your self-storage business and serve your customers in the best way possible.

How to Start a Storage Business?

How to Start a Storage Business?

Self-storage is a system by which individuals or businesses rent units to store their products remotely instead of buying a warehouse. The self-storage industry dates back to the 19th century when movers used to build warehouses for their clients. However, today it has grown beyond the scope with self-storage operators offering online reservations. Traditional self-storage solutions have given way to P2P self-storage marketplaces.

The core business idea is to develop a secure online marketplace for storage needs by connecting people who want to offer spare storage spaces to people who are in need of it. Building a self-storage marketplace is a lucrative idea to grow your business and take it to new heights. Before getting into how to start a storage business, let’s learn how a P2P self-storage system works and how it makes money.

What is a P2P self-storage marketplace?

The basics of a peer-peer self-storage marketplace are similar to popular rental marketplace services like Airbnb. People who have extra storage space register with the website or an app, and people who in need of shared space will go online to find one that suits their needs. Hosts can decide how much access they want to grant to renters and what they are willing to store. There are some obvious risks you have to handle when strangers store unknown goods in other people’s space. Therefore, it is important to put up a list of banned items like toxins, harmful chemicals, firearms, drugs, etc.

So, basically a P2P self-storage marketplace works as a great platform for hosts to earn a utilize their spare space in a productive way. Whereas, for renters, the platform comes handy when they want to book storage space and pay for it conveniently and securely online.

This style of self-storage solution is more affordable than traditional storage solutions and additionally, it is easy for users to access their things whenever they need it. The self-storage marketplace is a perfect platform for people who are in need of a little extra income with minimal efforts and investments.

How do online self-storage websites make money?

The listings on the online self-storage platform are free of cost, and renters just have to pay for the services they use. However, the platform takes a share of each transaction as a commission. Mainly there are two ways to make money.

• Commissions from storage space owners.
• Transaction fee from the renters.

You can set the percentage of the fee you will collect from users who register to your platform. Commissions can vary anywhere from 3% to 20% and transaction fees can be around 5% to 15% of the total transaction. You can also allow paid listings on the platform for a price where users can push their storage listing to the top for better chances of getting booked.

What are the key challenges to a self-storage system’s success?

To succeed in the competitive market when starting a storage business, it is important to understand your customer’s needs and offering services that match their expectations. The major challenges are:

Building trust

To urge hosts to list their storage space in your platform, trust plays a critical role. The same applies to renters as well. Assuring the quality of services and keeping your online platform secure to carry out financial transactions is a great way to build trust. To go a step further, you can introduce a guarantee plan offering insurance coverage for damages on the items while in storage.

To build trust and reduce the risk of loss or damage to people’s goods, you have to add features that create a social connection between users of the platform. For example, functionality to search for their friends or mutual friends on Facebook who has spare storage space is a great idea worth incorporating.

Customer retention

People nowadays have many options out there. If they revert to traditional storage solutions, your storage marketplace will lose its momentum. The key is to create a unique experience for both kinds of users so that they can trust each other to make the transactions. Instead of offering storage spaces, offer an experience to your users- A way to book storage spaces effortlessly.

Features of a customized self-storage system

If you are looking for answers on how to set up a self-storage business, it must start with setting up a website with top quality UI and UX to attract user attention and engage them the right way. The key is to give a distinctive feel to it and focus on the interactivity. When it comes to the features, you have to keep the best interest of both users into consideration. To have a better understanding, let’s streamline the overall process into different steps.

How it works for storage space owners

• Create listings
• Communication with renters
• Coordination with the renter to rent out storage space
• Get paid

How it works for renters

• Search for storage space in a particular location
• Contact the storage space owner
• Reserve space
• Confirm the booking
• Pay for the service

Now, let’s look into the basic features of a self-storage system that caters to both of its users.

Registration and signup

The registration or sign up functionality is the basic yet important one for any self-storage platform. Try making your sign up feature distinctive from traditional email and password signup by allowing social network authentication. Soon after registration, your users must be redirected to “Rent a space” or “host space” page.

Dashboard

This personal space for users displays personal information, space listings, booking, and other related information. While starting a self-storage business online, it is important to create a user-engaging dashboard where users can see all the available information. This where you must include search, messaging, listing, help chat button, and other important sections.

Search

Search is one of the most powerful features of any website. Therefore, ensure it incorporates a good interface that makes it easy to search a storage space at a specific location. Add relevant filters like time slots, geolocations, etc. so that users can find the right match easily.

Add listings

This is one of the key features of a P2P self-storage business that allows storage space owners to list out their space. Make sure this is a user-friendly process to enhance the usability of the service. Allow users to specify types of space, size, accessibility, address, price, and images while creating their listings. Adding information about unit size is critical and goes a long way to ensuring your customers reserve the right size before they show up with a truckload of their stuff.

Reservation system

Renters must be able to book storage spaces through a secure payment gateway. Hosts must be able to view new reservation requests, active reservations, and past reservations.

Messages

End-to-end communication is essential for the success of a peer-peer storage marketplace. It reduces the dependency of the platform in the overall flow of information between two users.

Help chat

Help chat is the most intriguing USP of a self-storage marketplace as it creates an opportunity to improve the trust of your users. Users can utilize this tool to ask any queries related to the platform or transactions.

Cost of starting a self-storage business Website

Peer-peer marketplace development is a complicated process and requires a lot of work. However, with advanced technology, it no longer takes months of work to launch your project. The cost breakup is an important part of this blog that give insights on how to start a self-storage facility business.
If your platform just intends to connect storage space owners and hosts, you don’t have to think about any other investment rather than building the website.

However, if you are planning to offer your own storage units, then you have to consider this as well- how much does it cost to build a storage facility along with the development cost of the website.

To understand how much does a self-storage website development takes- let’s look in 2 different ways of building the platform.

• Building the website from scratch
• Starting a storage unit business website with a ready-made script.

Building from scratch

The total cost involved in building a self-storage system greatly depends on your project requirements. However, other factors also influence the overall cost such as the number of developers, number of platforms, technical complexity, customization of design, and a lot more.

If you ask about how to set up a self-storage business online by building the website from scratch, it is the most expensive and time-consuming way. The whole development process must be divided into different modules and you have to look into each module separately. This includes both front and backend development and this takes a minimum of 3 months and can even go up to a couple of months more.

Building a self-storage marketplace can be divided into different stages like research, planning, UI/UX, actual development process, testing, and marketing. Based on the time required to complete the entire development process, you can estimate the final cost as the rates charged by developers is calculated on an hourly basis.

Let’s segregate the development process into different factors to know how much does it cost to build a storage unit rental marketplace.

Selecting the right platform

The total cost of developing an Airbnb for storage depends on the number and selection of a platform where you have to implement your service. For example, you can choose to offer a desktop version, android and IOS version, etc. and the cost for each platform varies.

The geographical location of developers

The cost also depends on the location of the developers you choose. Based on the location, the development fee and taxes applied can also vary considerably. On average, hiring a developer can cost you from $35 to 120/hour.

Design and technical complexity

The cost of starting a self-storage business greatly depends on the website design. Customized UI/UX comes with an extra price. However, it is not a great idea to compromise on the quality of your design, as it is critical when it comes to impressing users. Technical complexity also adds up to the cost.

Backend development

Being the backbone of the whole system that supports all the features and functions, back end development is one of the most critical and time-consuming processes. Moreover, it is one of the processes that account for a majority of the cost of starting a self-storage business.

On average, the entire development process can take around 1000- 3000 hours. After summing with an hourly rate the final cost can come around $35,000 to $360,000 depending on the hourly rate of developers you choose.

Starting a storage unit business website with a ready-made script

The self-storage marketplace is similar to Airbnb’s business model, which connects travelers with hosts who want to rent their living space instead of storage spaces. Creating your self-storage business website from scratch is not a feasible idea when there is already a quick and cheaper option on the market. Self-storage website clone script can do the job for you in an easy, fast, and more affordable way.

The script comes with all the features and functionalities to earn revenue from a self-storage business. You get a 100% source code that you can install on multiple domains and covers all the advanced features like filtered such, host-renter commination, secure payment, multi-currency support, server requirements, monetization features and a lot more. The price of a readymade script for a self-storage business system can cost you around $1000 and $2000 for mobile apps. Choosing a readymade script is a quite affordable solution for starting a storage unit business as it involves a one-time payment only.

We are living in an Internet-connected world. Even with the increasing number of online self-storage businesses, there is still huge potential in the market. As self-storage units are very expensive, there is a high demand for cheaper options. Peer-peer self-storage marketplaces offer more personalized, localized, and trustworthy storage options. Your goals must not be just to offer storage solutions but to provide the most convenient and secure options available in the market.
To thrive in the industry, you can also offer extra services like storage auctions to serve people outside your customer base and to earn additional revenue from the same. Hope this blog gave some significant insights on how to start a storage business marketplace. Now that you know the essentials of launching a storage business, you can get started right away.