20 Dec 2022

The Self-Storage Profit Maximizer: Part 2 – Retail sales

Jack Raistrick

Union Realtime

A self-storage facility can earn you a lot more money than you think; you have foundations for more than just renting out storage units. If you're looking for ways to increase profits at your self-storage facility, you've come to the right place. In this blog series, we'll discuss a number of different ways that you can do just that. In part 1, we looked at how truck rentals could increase your profits and customer base. Part 2 today will discuss the opportunities that can occur when adding retail sales to your self-storage business.

Retail sales in self-storage facilities provide an excellent opportunity to maximize profits and make your self-storage business even more successful. Not only does selling retail items in your self-storage facility bring in more money, but it also brings in more customers and can be seen as a way to add value for your existing customers.

When considering what kind of retail products you should offer, consider the needs of self-storage customers. What do self-storage customers need on a regular basis? Consider offering boxes, packing supplies, moving equipment, locks, and other self-storage-related items that are necessary for self-storage users. Providing these items will attract people from all over looking for self-storage units but also those who already have them but require additional or replacement supplies. You could also expand your retail offerings; depending on the location of your self-storage facility, you could potentially offer snacks, drinks, or other convenience items that customers may need while they are there.

In addition to self-storage-related retail products, it is also worth considering what other types of retail products you could offer. Consider offering items that appeal to self-storage users, such as books, such as guides and 'how to' books and home decor pieces. Depending on your self-storage facility's location, you could even consider selling gifts or souvenirs.

Offering retail items in your self-storage facility can be a great way to increase profits, but you'll need to ensure that you have the right product selection, staff, and inventory management system in place. A well-stocked store with knowledgeable staff will give customers the necessary resources they need to make an informed decision when shopping for self-storage-related items. Additionally, a good tracking system is essential to know what's selling and what isn't. This means you will not be wasting your money on items and stock which is not popular and therefore just using up valuable space in your shop.

With a little bit of effort, adding retail sales to your self-storage business could potentially bring in more money than ever before. Consider offering convenience items such as snacks and drinks, as well as self-storage-related products as part of your business plan; it might just provide an extra boost to your self-storage facility and can expand your customer base.

Don't forget to check out part 1 which discusses truck rentals, here!