Synopsis: in this post we look at the global self storage industry. And the necessary tools to manage and administer a self storage business anywhere in the world.
Self storage space in the developed world is on the rise
Global self storage industry is growing rapidly. With the advent of ecommerce delivering products from books to jet skis through the internet, people have amassed a large amount of ‘stuff’, which may be used once in a while.
This is not the only, but part of the contributing factors of growth in people seeking self storage spaces in countries such as the US and some in the UK and Europe.
Our urban cities are growing vertically and will nearly resume modern day’s Tokyo. This means there is little to no space to expand city spaces. This has driven individuals and families towards compact living accommodations.
Small living spaces lack sufficient storage spaces, and this is where the self storage industry has made it big in recent years. And the trend is only going to continue. Just look at these statistics:
- Global Self Storage market is expected to register a growth of CAGR of 7.5 % 2018 to 2023
- The US alone has a self storage industry valued at $38 billion
- Australia has nearly $1 billion storage industry with 3.3% growth year on year
- Australia’s top 5 operators control 35% of self storage business
- In the UK an estimated 1500 plus storage spaces are active
- In the UK a whopping 70 new storage facilities opened in 2017 (20% new)
- The UK’s total industry revenue in 2017/18 is GBP 750 million
- In the UK, more than 60% of people couldn’t name a self-storage operator in their local area. Suggesting lack of brand awareness
The numbers predict huge growth in the self storage industry. However, as new businesses crop up due to growing demand, how easy is it manage such a business? Are there technology solutions which could help such businesses manage, administer, and automate activities hassle free?
A ready made winner – Airbnb clone
One place to start with managing a self storage business is the web and mobile platforms. In today’s world, most transactions are dealt online and this holds true while booking and renewing self storage spaces in large cities as well.
The perfect platform for people to book and pay for living spaces has been Airbnb, for a long time. In fact Airbnb might be the only platform which has such an expansive reach, delivering seamless and safe transactions worldwide.
The same platform can be applied to storage businesses as well. The perfect solution is an Airbnb clone script, modified to suit the requirements of the self storage industry.
What are the must needed features in the best self storage app
An ideal self storage rental script should have a well designed and well thought out web and mobile app platforms. It should be a comprehensive app for both single & multi-facility storage space operators.
Ideally, the platform should allow the business to onboard customers electronically. And help them manage multiple storage facilities, make it easy to sign and renew leases. And finally, provide data driven reports to boost revenue and performance management.
A smart self storage app should allow its owner to sift through vacant and rented spots and help him or her to understand demand. Once the owner starts looking into performance data, he or she should be able to calculate demand better and optimize pricing to increase revenue. Here are some features which are a must, when choosing the best self storage software application:
- Centralized Management: Manage multiple facilities on a single dashboard
- Invoicing and Payments: Automate invoices and accept payments via multiple modes
- API Integration: Integrate other software apps to personalize the platform
- Inventory Management: Managing inventories on single and multiple locations on one dashboard screen
- Receive Bookings From Any Device: Built to work on both web and mobile platforms with ease (iOS and Android platforms)
- Automatic Revenue Management: Allowing owners to change rents, apply discounts based on demand
- Storage Management: Allowing users to manage their info, lease, and payments on the app without your intervention
RentStorage is the right software app you need
We have worked with many businesses in the self storage industry. We have done extensive research and ended up creating RentStorage. RentStorage is a versatile platform designed perfectly for self storage businesses.
Either you manage a small lot or multi-facility lots, RentStorage will help you manage all inventories on one dashboard. Making it easy for you to see what’s vacant, and what isn’t. Allow your users to book their slots and pay online, without you having to move a muscle.
There is so much more to RentStorage, check out this link to review all the features of the platform.