There is something that can kill any business. For some it can be too much competition. Others fall to the wayside because technology passes them by. Some find it hard to survive when the economy suffers or falls into a recession. However, there are some—like the self storage industry– that are resilient. They are able to survive no matter what the detriment is—even the government!
Whether you like it or not the government is a necessity. Someone has to do the tough job of running the country and keeping it safe along with safeguarding individual freedoms. Where it tends to become problematic for the people—and businesses like the self storage industry—is when it can’t agree on what to do.
The recent government shutdown is a perfect example of politicians at their worst. Since they couldn’t agree on a budget the government basically stopped working (with the exception of essential services).
This was not good of course. It was expected to be a hindrance to the economy—at least in the Washington D.C. area. For many that was exactly the case. Standard and Poor’s estimated $24 billion was lost in government services, tourism dollars, and federal contractor wages.
The shutdown has seriously hampered consumer confidence. Before the shutdown the consumer confidence index was measured at 80.2. As of October 29 it was 71.2 making it seem as if the after effects of the shutdown are going to continue.
Confidence has not slipped in everything though. In fact, it seems that it at least maintained if not improved in the self storage industry (at least in the Washington D.C. area). Secure Self Storage actually experienced a boost in business during the shutdown!
“Even with all the government gyrations, the storage business has continued to stay strong; proving itself a primary need, just like apartments,” says Bill Green the Washington D.C. Secure Self Storage manager.
Exactly why business increased is not known for certain. It could be that local businesses that counted on the government needed somewhere to store their surplus inventory. Maybe it was all the government employees that were on a forced vacation that did it. Perhaps they made the most of their time and cleaned out the garage or found ways to decrease clutter all over the house.
Whatever it was, Secure Self Storage saw a boost in business in spite of the government shutdown.
“DC Self Storage Sees Growth During Government Shutdown in Capital.” PRWeb; 31 October 2013.
“How the government shutdown could ruin Christmas.” Yahoo! News; 29 October 2013.