Ready to Take a Chance on the Self Storage Industry?

Posted on Apr 26 2012 - 8:44pm by Holly Robinson

Going into business comes with a lot of tough decisions tops among them the decision on just what sort of business are you going to go into. Do you go with something you love? Do you go with something that is popular or do you go out on a limb and take a chance? Why not go with something that has proven to not just be reliable, but capable of thriving—like the self storage industry.

In the United States the market continues to grow even though there are close to 50,000 self storage facilities in the country. Entry can be a little tougher since new facilities need to be concerned about market saturation in their given area. However, in other countries where the industry is still in the infancy stages that is not so much of an issue.

For example, Smartbox Mobile Self Storage recently opened up a new facility in Melbourne, Australia. It is the second facility for the company in Australia, the first having been in Sydney for about three years. It’s the third facility for the company that is based out of Auckland, New Zealand. 

“After Jonelle and I started on the road, having built the business from nothing, the idea of mobile self storage caught on pretty quick and we grew fast” says Steve Phillips, the company’s founder and a former milkman. “When we had established ourselves in Auckland, we decided to look at other potential markets. The nearest markets that made sense for expansion were on the Aussie east coast, starting with Sydney.”

The self storage industry only recently broke into the second most populous country in the world, India. In the summer of 2010, StoreMore opened its doors in Noida. Founded by a pair of friends, Amit Wilson and Nitin Dhawan, they began by storing records for businesses at their first business, Reliable Records. As business for Reliable Records took off they realized that there was a definite market for personal storage space as well.

“While we were storing office records, etc, we began getting requests from corporate clients, asking us to handle their personal storage needs too. Thus, StoreMore followed, offering people space to store their household items with us,” Wilson says.

With the response that they have had after a relatively short time being open it would not be surprising to see more self storage companies looking to expand into a country with over a billion residents and 17 percent of the world’s population.

Sources Used:

“Smartbox expands further into Oz.” Scoop; 24 April 2012.

“Store nostalgia without the clutter.” The Times of India; 06 April 2012.