Self-Storage Industry Growth | Rise of the industry
Love for the Self-Storage Swan
Digital Transformation has rocked the self-storage industry. Aside from everyone wanting to be the ‘Airbnb’ or ‘Uber’ of the self-storage industry, we’re also seeing higher quality construction, interesting city-slicker conversions (Love this concept), and app-based management that have revolutionized the way people store their stuff. New innovations have given the self-storage industry a ‘facelift’ and a fresh chance to grow. Millennials (guilty) are not only entering the workforce, they’re leaving their parents homes, moving into their own apartments, homes, and even settling down (hey it happens). These are all times in life when storage facilities are in high demand. It’s clear that the generation that was raised with the internet wants digital conveniences when searching for a Self-Storage facility. This is what causes me to have not just hope, but excitement for the next several years of self-storage industry growth.
Rise of the Entrepreneur
Self-Storage isn’t the only thing growing. There’s been a rise in entrepreneurship that has brought amazing innovations to every industry. Watching the industry evolve to keep up with the pace of industry-changing, coffee-drinking, risk-takers flooding the market has been fascinating. The rise of entrepreneurs has come simultaneously with the rise of massive amounts of data available to businesses, helping them make better decisions faster. Social media is another change that has given businesses a forced transparency. This means good businesses are more likely to survive now with ‘word of mouth’ so accessible. All of these factors have helped the Self-Storage industry to grow at a rapid pace, but it’s also making it easier to sustain that growth with new tools that make it easier to make necessary pivots in strategy.
Shameless plug
When my dad approached me to write this blog for his company I never thought it’d actually get published. Who am I to talk to Tenant Property Protection’s followers? But he made the point that as a newbie in the industry I could bring a fresh perspective, and solicit advice from industry experts. Providing value to others isn’t just something I was told to do, it’s in my blood. That’s why I love what TPP does. They provide value to both Self-Storage owners and their tenants. Owners earn as much as they want for selling TPP protection plans. Tenants have peace of mind knowing their property is protected. AND they go above and beyond with the promises they keep! (Fast claims, no-deduction replacement cost, no state licensing requirements, easy training…) That kind of integrity and value gets my respect.
Until next time
Lil’ Pete