The promising market for self storage business

Australia has about 1100 self storage units occupying about 30 million square feet with an annual turnover of more than AUD 1 billion per year. This industry is so attractive and venturesome that many Sydney based start-ups have got into this self storage business. The business prospects of self storage industry are such that one of the biggest self storage firms has a market capitalization of more than AUD 725 millions! Yet, there is untapped storage market valued at about AUD 5 billion. Read on to know more about Docklands self storage facilities, if you live there.

The need for self storage:

Interestingly, self storage is often referred to as 4Ds of life namely divorce, death, dislocation and downsizing. In other words, these could be situations that may force an individual to look for a suitable Docklands self storage facility. This storage facility is can be made use of by individuals as well as commercial enterprises.

What is self storage

Self storage is the short form of self-service-storage and it is also referred to as mini-storage.  Basically, when you look for a self storage space, you will be provided with a room, container or even an open space. The choice of the type of Docklands self storage space is dependent on the type of materials you want to keep. For example, if you want to keep your jewelry, then a locker may be sufficient. But, if you want to keep your furniture or raw materials of your manufacturing industry, then you will have to avail the storage space with a larger storage area.

Brief history:

Self Storage is believed to have been prevalent in China. Yet, the first modern self storage pattern seems to have originated in Florida, USA during 1958. Now, the self storage solution is prevalent in most parts of the world.

Association:

Self Storage units across the globe have formed an association in their respective countries, like, for example, the Self Storage Association of Australia. This Association is a nodal agency to standardize storage agreements and related matters. The Association has an established code of business ethics and every member has to follow the code.

The necessity:

In the normal course, most of the business enterprises will have made arrangements for some storage space. But, the need for an Altona North self storage unit arises only when the existing storage space is insufficient to store the materials on hand. For such business enterprises, self storage has come as a great relief. As far as individuals are concerned, the need for a self storage facility may arise during the renovation of a home or when you are in the process of relocation for under such exceptional circumstances.  Business enterprises in particular prefer self storage because renting storage space is affordable rather than hiring the entire building, which may involve considerable capital investment.

Are you planning to venture into this business

Yes, self storage is a venturesome business. But, before you enter into this business, you should make a thorough market analysis. You should start your business at a place where there is less competition. New residential areas or upcoming business centers are the most ideal locations for starting your Yarraville self storage unit. Simultaneously, you should also become a member of the Self Storage Association of Australia. The Association will also guide you in all matters relating to starting and management of storage units.visit here https://www.publicselfstorage.com.au/docklands-self-storage.htm/


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