Additional Sources of Revenue

[AroundTheWorld]

Lately, I've been thinking about additional sources of revenue for a self storage business. Here are a few of the item's I've been pondering. Any other ideas?

• Uhaul
• Billboards
• Records Storage (provide a service to professional offices that don't have room to store archives... Attorney's, Accountants, Doctors)
• Car Share
• Retail Sales (boxes, tape, furniture covers, etc.

Other ideas?

[JoshuaSCurtis]

From my work in consulting, people generally pay money (usually in the form of a retainer, as well as a percentage of the sale) to have their business referred by another business.

You would have to bring together an attractive offer by gathering your face volume (traffic on neighboring road, foot traffic of facility, etc), then present to the local businesses.

For instance, local moving business paid $200 (or more depending on how much traffic flows through your facility) a month to the storage facility to recommend their service if anyone asks. On the back end, they give the facility 5-10% of the sale.

Small but good means of revenue for each business, as well as a great marketing opp for the brand partner. But I think that (in the case of self storage, unless it is a national franchise) it would work best with local small businesses, such as:

Auction companies
Moving companies
Landscaping companies
The list could go on...

[Clay]

1: Sign a contract allowing a cell tower to be installed. (Typically a 5-10yr contract)
2: I love billboards. (This would be high on my list,given the right location)
3:If you had room to make some large units have an office space, you could rent those to small businesses such as contractors. In my personal experiences this is a must. (200SqFt office and 600-800SqFt of warehouse)

[Doug]

Another revenue stream storage owners are looking at is wine storage. They are advertising "personal wine cellars". I believe this is only going to work in your higher end areas. You certainly could use 500 sqft. to try this out in. There are some companies offering prebuilt wine cellar kits for self storage facilites.

Climate controlled units are also a possibility. Our area (cold climate) would best be suited for heated units but I haven't seen enough demand to spend the extra money.

[Bilgefisher]

Have you thought about soda machines? Then take the cans and recycle them for additional cash. If you wish to avoid that cost, many man folks are looking for a place to put there vending machines. Take a small cut of the profit and they do all the loading. Or have your manager load them.

Advertising on your 400 feet of frontage.

ebay store for customers


Just some ideas.

[Bilgefisher]

Originally Posted by JoshuaSCurtis

Landscaping companies
The list could go on...

Here's an idea to save money and increase that NOI. If you have a landscaping service offer them a sign in exchange for a discount. Ex: "Landscaping done by ABC landscaping".

Not only a cheaper job but they will make sure they put an extra effort into their showcase work.

[AroundTheWorld]

Loving these ideas!

[Bilgefisher]

Random revenue thoughts:

I have heard of some ss having car washes, cell phone towers and other items.

Another trend I have heard for higher end RV storage is RV washes and a dump station.
A dump station with a small charge would be extremely convenient for folks returning from vacation or winterizing their RV. Also, since many folks do not wish to mess with sanitary lines, you could have your staff do it for a small fee.

I have often wondered if it would be a good idea to have RV supplies available in your store.

From the numbers I have run, the only way I see a frontage store option working is if the paved area for parking is considered part of your easement.