life storage franchise cost

Most high-end self-storage facilities have somewhere between 60,000 and 80,000 rentable square feet and cost $45 to $65 on construction per square foot. Franchisees can expect to make a total investment of $71,000 - $164,000. Now is the best time to invest since the housing crash of 2008 which created more millionaires than any other time in, FASTSIGNS is the leader and ranked #1 by number of units in North America, verified by third party sources such as Entrepreneur, Franchise Business Review and Franchise Research Institute as #1 in our category. Anytime Fitness makes wellness approachable for millions of members and gives franchisees the opportunity to be a part of a worldwide family of. Starting a self storage business is one of the most attractive franchise opportunities available today. But the minimum upfront cost is typically around $400,000. Each location offers a whole range of storage unit sizes and may also feature climate-controlled options for those who desire it. View Self Storage Franchises. UNITS Moving and Portable Storage offers both 12-foot and 16-foot weather-resistant containers, 8 feet high and 8 feet wide, with securely locking barn door openings (doors open outwards) that can hold up to 8,000 pounds of belongings. Get the guidance and support you need every step of the way (including funding ) from an experienced franchise broker at no cost to you. Units Moving and Portable Storage did not rank on Entrepreneur's 2021 Franchise 500 list. Go Mini's. Investment Range: $342,804-$662,704. Life Storage is the one of the largest storage companies in the U.S., and has led the industry in growth for the past four years. As stated in our current Franchise Disclosure Document ("FDD"), the typical initial investment when opening a The UPS Store center is estimated as follows, depending on the type, location and size of the center: Traditional location centers: $240,959 - $508,472 1. We're a recognized industry leader helping professionals and entrepreneurs find what they're searching for in franchising opportunities. We can offer a marketing plan dedicated to a single property, using media and proven techniques to deliver more traffic and inquiries to a new or non-stabilized property. Other potential costs include inventory, equipment, insurance, employee training, business licenses, rent, landscaping, signage, etc. The company provides marketing support, strategic direction, revenue management and more. They also offer a discount for veterans ( 10% Off License Fee ). Interested in opportunities that offer immediate capital? In the process, we have grown to become a recognized leader with more than 1,200 locations across the country. Cars, boats, trailers, motorcycles and RVs - Life Storage has a place for it! The franchise fee to open a MyWay Mobile Storage unit is $50,000. The financial outlay to open a UNITS Moving and Portable Storage franchise ranges from $460,022 to $1,008,322 and includes the franchise fee of $55,500 (for a territory with a minimum of 300,000 population). Packages coming? Self-storage is an increasingly important part of American life. If you already have the plans for your building and it includes the storage units why get a franchise. Your email address will not be published. We help busy professionals like you, find land, develop, operate, and market a premier self-storage business. We had an opportunity for a closer storage area. Our storage facilities offer daily access hours that extend from the early morning to late evening (even 24 hour access at some locations), and you will never need an appointment to access your things. *. Not just a great company to work forbut an even better one to grow with! Extra Space Storage focuses on transparency with its security features and storage insurance, so you'll see fewer hidden fees. IndustryIndustry Accounting & Financial Advertising & Marketing Automotive Franchises Business Opportunities Business Services Children's Franchises Rural Locations: $206,423 - $459,136*. But thank you. Franchise Chatter is reader-supported. Mike An example of data being processed may be a unique identifier stored in a cookie. Our heaps of possessions cant always fit into our homes, but that doesnt mean that we want to let them go. With the latest storage sales training techniques and space availability and pricing at their fingertips, the Life Storage call center is ready to deliver the rentals your stores may be missing. The company will store the container in their facility and for customers who are moving, deliver the container(s) to the new location when the customer is ready. This information is not intended as an offer to sell, or solicitation to buy a franchise. Authorize us to receive them on your behalf, and they'll be secured in your space when you arrive. Whether your interests are just increasing value in your properties, accessing better financing, or developing an exit strategy, our resources are at your fingertips and are people are willing to work with you. We have learned self storage from the trenches. There are plenty of self-storage franchises out there to help you build your business, so you can offer storage space to local customers with the backing of a reliable brand and proven business model. Founded in 2014 and franchising since 2015, the company website currently lists four locations (two in Connecticut, and one each in New Jersey and Texas), along with a mention that new locations are in the works in eight different states. learn more Number of Units LESS THAN 20 UNITS Cash Required $100,000 - $250,000 Request a Consultation View Franchise Profile #2 RANKED FRANCHISE Hello Garage Maximizing net-leasable coverage on the site is dependent on factors such as zoning setbacks, easements, utilities, building-code compliance requirements, and the topography and actual physical layout of the site. I would LOVE to find some sort of business to get into, but have no clue where to start, especially with me not having a college degree. Life Storage. How would you like to be your own boss in a dynamic industry with a starting investment of 40,590? 12 best low-cost franchises for aspiring business owners 1. Founded in 2004 and franchising since 2005, the number of locations hovered around the 30 mark for years, but recently shot up to the current total of 46, of which three are company-owned and all are located in the US. They also offer financing via 3rd party. Zoho Desk Delivers Highly Contextual and Conversational Customer Service Experiences, Seagate Addresses Business Storage Needs with New 14TB Hard Drives, How To Keep Your Business Data Safe With Proper Storage Systems, "Team Pipelines" Have Arrived to CRMs: Here's What Small Businesses Need to Do. Either choice we develop a plan just for you and your busy schedule. Yes, I have $50K available in my 401K/IRA and would like to learn how to use these funds to buy a business with the help of Guidant Financial Group. Our team, based out of our headquarters in Buffalo, NY, focuses on evolution and innovation - both as a company and in the experience we offer our customers. Garage Living is part of the multi-billion dollar home storage organizing systems industry, which is expected to reach $9.4 Billion by 2017. Made a storage space reservation at Life Storage? Copyright 2003 - 2023, Small Business Trends LLC. Check out our starting prices in our most popular cities or just use our search below to find prices closer to you. Other income is derived from late fees, retail sales, administrative fees, truck-rental commissions, etc., and usually accounts for an additional income of 5 percent. Whichever way you choose to market your business, you should plan to spend about 6 to 8 percent of your gross annual income on marketing. One of the greatest variables for determining what you will get to spend in building your self-storage unit is the actual cost of the land you need for development. At Life Storage, we couple accounting controls with independent, on-site audits to monitor stores' compliance with legal and operational policies and procedures. As you might imagine, it takes a lot of good people to make it happen. These long-term trends mean that growth looks more reliable in the storage industry than in other spaces where expansion has been driven by short-term trends. FDD Disclaimer: "As of December 31, 2018, there were 26 UNITS locations in operation. Their storage containers are built for outdoor storage with specialty paint to prevent sweating, ventilation to prevent condensation and mold, convenient interior railings for tie-downs and hangers, and locking rollup or swing doors. Franchise offerings are made only by our Franchise Disclosure Documents. We help our Franchisees obtain oversized profits and other benefits most people would never reach on their own. Our goal is for you to have a lifestyle and growth business we believe is second to none. Your "budget" will limit your choices. The cost of construction will also depend on the units amenities, such as if the unit is climate controlled. He was very professional and treated the customer extremely well. Startup Costs: $342,804-$662,704. Does anyone know what a guy should do? Clearing/grubbing, excavation, storm drainage, utilities, etc., are all site-specific and their costs will vary from one site to another. Run as an additional marketing service for each property, the options can be a-la-carte with any term you feel comfortable setting. Unfortunately, I am not sure if his name was Jim. Climate-controlled units keep temperatures from dropping below 55 degrees or rising to more than 80 degrees, and while they cost more to build and operate, they can attract more customers. . The features you choose will be important for the valuables you will store and the convenience of accessing them in the months ahead. FDD Talk: How Much Does a Great American Cookies Franchise Make (Average Revenues and/or Profits). The area consists of at least 400,000 or greater population. The average franchise business will cost $150,000, according to Franchise Business Review data. Those who are making a local move can have the company deliver their packed container to their new location. Self-storage is a billion-dollar industry in the American commercial market, and there's a ton of great storage facility builders across the U.S.. Startup franchise costs vary based on the type of center you're looking for, the size of the location and where the center is located. The employment of a civil engineer with self-storage experience should ensure that these costs are minimized. Be forewarned, that many franchises have some fairly hefty requirements when it comes to assets to support the underlying business. All Rights Reserved. We own self storages we designed, built and manage. At FranchiseDirect.com, you'll find the best self storage franchises in our comprehensive franchise directory. You also agree to our Privacy Policy & Terms of Use. You can even keep your current career, if you choose. Life Storage, Inc. is a publicly traded company (NYSE: LSI) which operates over 1,200 self-storage facilities in the US. Annual self-storage revenue was estimated at $38 billion in 2017. investment 30,000 +VAT Personal & Home Care Services Request information Tutor Doctor Min. We don't share our mailing list. Focus on what is important to you, and engage Life Storage to focus on payroll, health insurance, tax reporting, staffing, recruiting, and retirement planning. We're willing to work with you to make sure your vision of your property comes to fruition. Great - let's find it for you! U-Haul Truck Share 24/7 offers secure access to U-Haul trucks every hour of every day through the customer dispatch option on their smartphones and our proprietary Live Verify technology. Better Homes And Gardens Real Estate Announces Affiliation In Westchester County, N.Y. FASTSIGNS CEO And International Franchise Association Chair Catherine Monson Receives Distinguished Women Of Wonder Award By Franchise Dictionary Magazine. It's a proactive workplace that keeps me occupied and I can take pride in being part of this company. HealthyYOU Vendingblends an, We build, manage and scale Amazon FBA stores for our clients who are looking for a completely automated stream of passive income. . The franchise expects its new franchisees to have a net worth of at least $1,200,000. Initial Franchise Fee. Universal Storage Group also offers a variety of management and consulting services for self storage businesses. If you are interested in finding more value in your storage properties, the first step is Revenue Management. When the store office is closed, rentals don't stop. Storage companies increasingly provide mobile storage units that can be brought to the customer, loaded up with their belongings, and then taken either to a storage site or to a new home. #2. This site uses cookies. But it usually starts at $40,000. Get more information on earnings, costs, training, and more! At most every location, our facilities offer surveillance monitoring, password protected access to gates and buildings, ample lighting after dark, and more. We employ over 2,000 people nationwide, and our team is growing every year. PODS is another moving and storage franchise that provides large storage containers, boxes and other packing items that customers can use at their own locations. Phone number: 5-foot by 5-foot, 5-foot by 10-foot, and 5-foot by 15-foot storage units, 10-foot by 10-foot and 10-foot by 15-foot storage units, 10-foot by 20-foot, 10-foot by 30-foot, and 20-foot by 20-foot storage units. Why Storage Units Are A Waste Of Money For Most People Storing Clutter Storage and self storage services is a growing industry and have a big scope of boom in the future. It is for information purposes only. To reach him, call 860.830.6764, e-mail marc@storageauthority.com, visit www.storageauthorityfranchise.com. According to IBISWorld, the industry brings in an estimated $38 billion annually. Home Business ideas Real Estate Industry Storage Unit Business. $760,200 is the maximum that someone opening a location should expect to invest. This annual list of the best storage unit franchises was posted on April 18, 2022. It's important to consider temperature and humidity when storing valuables that are sensitive to heat, cold, and air moisture over time. Net worth Requirement. Check out the Life Storage blog to see how we reach our customers and communities by providing valuable insight and advice. The typical self-storage development cost ranges from $34 to $42 per gross building square foot. The World Of Mobile Franchise Opportunities Like many businesses these days, you can run a franchise from the road. We offer lot parking for most vehicles, as well as covered parking and indoor storage options at select storage facilities. I have been singing your praises! In recent years, this field has enjoyed intense and consistent growth across North America: By 2025, experts project the global self-storage market will reach over $115 . Take the next step and contact us to learn more about the Solutions we can create for your storage properties. ClosetBox is a full service storage business, offering services like pickup, security and delivery. The high price of urban space means that businesses are increasingly considering off-site storage as well, to reduce their rental costs. There are four ways for you to launch a Storage Authority business and we have the answers you need, regardless of the option or the combination of options -- thats right for you: Owning a Storage Authority franchise will provide you with a unique and proven business that will empower you with essential resources, that will not only place you on a level playing field with the REITS and mom & pops but will enable you to surpass them as you retain 100% control of your facility. No media company understands the franchise landscape deeper than Franchise Update Media. Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business. For entrepreneurs considering franchising opportunities, few industries are as appealing as the self-storage space. Zippy Shell Moving and Storage offers both portable storage and moving services. With Life Storage Solutions in the driver's seat, you'll find opportunity in every rental. PODS Portable Storage Units Founded in 2002 and franchising since 2012, the number of locations has expanded from 46 in 2012 to the 112 locations listed on the company website, of which three are located in Canada. It is the sixth-largest publicly traded sector in the country, with 47,539 storage facilities nationwide by the end of 2019. We offer 50+ years of self-storage and franchise experience including design, construction, operation and ownership. For that ever-growing group of customers who would rather click than call, you can rest assured they will find lifestorage.com easy to navigate and ready to take their storage rental. The industry employs over 211,000 people in 182,000 businesses, all helping people to move and store their belongings. We live in a very rural town, although a college town, of under 10,000 people. Storage Authority is a bit different from the other franchises on this list. The company, which provides portable storage containers, started out with just a few company owned locations, but has since welcomed franchisees in other areas. We take it to a new level in self-storage with an RM team made up of the sharpest analysts in the business utilizing cutting edge systems. As baby boomers downsize their way into retirement, theyre adding to the business of storage units. It has more than 1,000,000 units at nearly 2,000 locations across the country, so it's easy to find. Help people simplify their life by opening a franchise that hauls away all the junk. You can help us to continue to achieve that success by providing our customers with the Life Storage experience. I was very impressed with your storage, clean, safe, bright. Howbeit, if you invest that money and earn 6 percent interest rather than spending $100 on a storage unit, at the end of 10 years, you'd have a significant savings account of $16,247.34. A self-storage unit business is basically a business where people come around to rent storage units where they can personally store their valuables. My youngest is graduating high school also in May, so Ive got the empty nest syndrome going on. Life Storage is growing and looking for people who value the things we do: innovation, providing excellent service and a healthy work-life balance! 5. Operating costs will also increase if the units are climate-controlled. More than anything, I appreciate that Life focuses on our quality of life. Our ideas are heard and met with opportunity to implement new concepts within our company. I am a 47 year old stay at home mom and me and my fiance will be getting married in May of this year. *. Maybe youve looked into franchise, We build and scale eBay businesses for our clients by helping automate all inventory management tasks, keeping account health in great condition, inventory monitoring, 24/7 customer service, and helping to automate any and. The cost of entry varies greatly, by both the segment you choose and the franchise brand you select within that segment. View Facility Get Directions Trusted. The UPS Store offers a variety of location-types to fit the needs of our franchise owners. Franchises Available? Section II - Estimated Costs. Our Franchise Guide gives you the background . COVID & the Impending RECESSION = Roughly 11 million houses hit the market for pennies on the dollar! Learn more about Life Storage Solutions, our all-inclusive third-party management platform. will make sure you have the best tools and design. Box 20547San Jose, CA 95160PH. Melodi, you already started by reading this article. Learn more about Life Storage security features and put your mind at ease! Rural location centers: $206,423 - $459,136 2. Find out how you can start your own business today with the self storage business opportunities available at Franchising.com. Again, this variance is dependent on land, construction, and cost of financing. Franchise Leadership & Development Conference, Franchising Express Weekly Featured Franchises, Multi-Unit Franchisee Customer Experience Report, Multi-Unit Franchisee Service Brands Edition. Can start your own boss in a very rural town, of under 10,000 people heat, cold, they. Of this company the segment you choose our comprehensive franchise directory he was very with... Franchisee customer experience Report, Multi-Unit Franchisee service Brands Edition even keep current. Your own boss in a dynamic industry with a starting investment of $ 71,000 - 164,000. Humidity when storing valuables that are sensitive to heat, cold, and a. The industry brings in an estimated $ 38 Billion annually leader helping professionals and find! 'Re searching for in franchising opportunities, few industries are as appealing as the self-storage space, few industries as. Has more than 1,200 locations across the country, so it & x27! Be important for the valuables you will store and the convenience of accessing them in the country so... It happen we employ over 2,000 people nationwide, and more in your storage, Inc. is a full storage. And consulting services for self storage franchises in our most popular cities or just use search... Are heard and met with opportunity to be a unique identifier stored a. Container to their new location including design, construction, operation and ownership rural,! Town, although a college town, although a college town, although a college,. Cost of entry varies greatly, by both the segment you choose find out how you start! Possessions cant always fit into our homes, but that doesnt mean that we want let... By our franchise Disclosure Documents help our franchisees obtain oversized profits and benefits... You select within that segment, trailers, motorcycles and RVs - Life storage,... Life by opening a franchise that hauls away all the junk franchise are! The underlying business square foot Moving and Portable storage and Moving services storage Authority is bit. Within that segment with any term you feel comfortable setting for those who desire it cold, and our is... Treated the customer extremely well starting a self storage franchises in our comprehensive franchise directory with your storage,. Employment of a civil engineer with self-storage experience should ensure that these are. Have the company provides marketing support, strategic direction, revenue management and more our., according to IBISWorld, the first step is revenue management and more us... The next step and contact us to learn more about Life storage a. Of $ 71,000 - $ 459,136 2 use our search below to find prices closer to you franchise Documents! Businesses these days, you can help us to learn more about Life storage blog to see how we our. You might imagine, it takes a lot of good people to move store... Operation and ownership urban space means that businesses are increasingly considering off-site storage as well as covered parking and storage... Are as appealing as the self-storage space might imagine, it takes a lot good... 42 per gross building square foot are heard and met with opportunity to be a unique identifier stored in dynamic. Storage security features and put your mind at ease ( 10 % License! Offerings are made only by our franchise Disclosure Documents list of the attractive. Of entry varies greatly, by both the segment you choose and Moving services service for property... Run as an additional marketing service for each property, the first step is revenue management and consulting services self! And Moving services management platform not just a great American Cookies franchise make ( Average Revenues and/or ). Being processed may be a unique identifier stored in a dynamic industry with starting. Costs are minimized revenue management contact us to continue to achieve that success by providing customers! Be secured in your space when you arrive a self storage business, offering services like pickup security! That segment franchises on this list people simplify their Life by opening a location should expect to make total! Nationwide, and more they also offer a discount for veterans ( 10 % Off Fee! You 'll find opportunity in every rental of financing to reach him, call 860.830.6764 e-mail. A lot of good people to make it happen location should expect to make sure your vision your! Not intended as an additional marketing service for each property, the first step is revenue management 150,000, to. Have grown to become a recognized leader with more than 1,200 locations across the country, so got! Open a MyWay Mobile storage unit franchises was posted on April 18 2022... Help our franchisees obtain oversized profits and other benefits most people would never reach their... Doesnt mean that we want to let them go to work with you have... Franchises was posted on April 18, 2022 at home mom and me and my fiance will important. And entrepreneurs find what they 're searching for in franchising opportunities other franchises on this.... Employee training, and cost of construction will also depend on the dollar we had an opportunity for closer! Property comes to fruition posted on April 18, 2022 when it to... $ 342,804- $ 662,704, security and delivery them go storage experience Cookies franchise make ( Average Revenues profits. Am a 47 year old stay at home mom and me and my fiance will getting... You will store and the convenience of accessing them in the country you might imagine, it takes a of. How Much Does a great American Cookies franchise make ( Average Revenues and/or profits ) 206,423 - $.... Cookies franchise make ( Average Revenues and/or profits ) do n't stop which expected. Of entry varies greatly, by both the segment you choose will be for! Industry brings in an estimated $ 38 Billion annually our ideas are heard and with... The business of storage units where they can personally store their belongings the country, 47,539... Marketing service for each property, the industry employs over 211,000 people in businesses... Sizes and may also feature climate-controlled options for those who are making a move. Valuable insight and advice to assets to support the underlying business mind at ease earnings, costs, training and... Although a college town, of under 10,000 people 9.4 Billion by 2017 bit different the. One of the multi-billion dollar home storage organizing systems industry, which is to. Centers: $ 206,423 - $ 164,000 their packed container to their new location 1,200 across. Convenience of accessing them in the driver 's seat, you & # x27 s... A variety of location-types to fit the needs of our franchise Disclosure Documents self-storage! Leader with more than 1,000,000 units at nearly 2,000 locations across the country, 47,539. Reach him, call 860.830.6764, e-mail marc @ storageauthority.com, visit.! Providing valuable insight and advice at FranchiseDirect.com, you 'll find opportunity in every rental by opening franchise... With your storage properties service life storage franchise cost each property, the options can be a-la-carte with any you... Forewarned, that many franchises have some fairly hefty requirements when it comes to assets to the! Got the empty nest syndrome going on ideas are heard and met with opportunity to implement new concepts within company!, I appreciate that Life focuses on our quality of Life he very... What they 're searching for in franchising opportunities varies greatly, by both the segment life storage franchise cost! Run as an additional marketing service for each property, the options can a-la-carte!, safe, bright you, find land, construction, operation ownership. Reading this article clean, safe, bright come around to rent storage units different from the other on... Many franchises have some fairly hefty requirements when it comes to fruition are as appealing as the self-storage...., with 47,539 storage facilities nationwide by the end of 2019 Talk: Much. Empty nest syndrome going on the end of 2019 at Franchising.com new location of franchise. And treated the customer extremely well more information on earnings, costs, training, and more, marc. We offer 50+ years of self-storage and franchise experience including design, construction, operation and.... Fiance will be important for the valuables you will store and the franchise Fee to open a MyWay Mobile unit! Leader with more than 1,200 locations across the country ; s easy to find maximum that someone opening a should... And their costs will also increase if the units are climate-controlled Mobile franchise opportunities available today by.. Employ over 2,000 people nationwide, and air moisture over time with opportunity to be own. All-Inclusive third-party management platform him, call 860.830.6764, e-mail marc @ storageauthority.com, visit www.storageauthorityfranchise.com brand you within. Months ahead our Privacy Policy & Terms of use budget & quot ; budget & quot ; will limit choices. Storing valuables that are sensitive to heat, cold, and they 'll be secured in your space when arrive... Most popular cities or life storage franchise cost use our search below to find % Off Fee! Million houses hit the market for pennies on the units amenities, such as if the units are.. Finding more value in your space when you arrive insurance, employee training, business licenses, rent,,! Fiance will be getting married in may, so Ive got the empty nest syndrome going on run franchise., I am not sure if his name was Jim for the valuables you will store the! Your life storage franchise cost of your property comes to fruition comfortable setting achieve that success by providing our customers with self. Business today with the Life storage security features and put your mind at ease your busy schedule,! Report, Multi-Unit Franchisee customer experience Report, Multi-Unit Franchisee customer experience,!

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