Have you ever seen a hot dog vendor that served only hot dogs? Probably not, since all it would take to put him out of business is to open another and sell hot dogs—and sodas, chips, etc. While it is smart to focus on a product it helps to do more than just offer the one thing. One trick ponies are great, but people eventually grow weary of the single trick.
The same concept cane easily be applied to the self storage industry. Like the hot dog vendor self storage companies have one primary product—space. Again like the vendor, most self storage facilities don’t put all of their eggs in to the metaphorical unit. Most will also offer a variety of products people need when packing as well as locks for their unit. Many self storage facilities will also rent moving trucks as well.
Selling items people need for moving is smart for self storage facilities, but it typically does not add up to anything significant. Some will offer truck rentals themselves, but many will partner with a rental company instead.
So—does that mean companies are still stuck putting all their eggs in one unit/basket?
Absolutely not! Some have found other ways to supplement their income.
For example, Shepherd Self Storage in Ohio has an event center adjacent to it—and not just an oversized lobby for the self storage facility. It’s a 40,000 square foot, air-conditioned in-door facility as well as an even larger paved space outside.
White Horse Self Storage in Whitestone (the UK) has a similar story, but with a twist. The owners of the facility also own the car dealership adjacent to it. Last year the group—the White Horse Group—bought the lot next to the dealership where the self storage facility now stands.
“We had a very extensive audit of the site, which specified things like where barriers, security gates and fire extinguishers had to be,” he said. “It gives customers that extra peace of mind and reassurance.”
You could easily say that the self storage facility is the supplementary income for the dealership, but with employees working across the dealership, rentals, and storage parts of the business it sounds like the group intends them to be complementary of each other.
“White Horse Group expands with new self storage facility.” Express & Echo; 05 June 2014.
Event Space; Shepherd Self Storage.