Getting Started With A Steel Self Storage Building

Like other business opportunities, starting in the self-storage industry requires careful planning and research. If you believe you have what it takes to turn a profit from steel self-storage units, you will still need to examine certain factors before diving into this field.

Step 1: Is building a steel self-storage building a worthwhile venture? If so, what is the best location?

When considering a self-storage building venture, it is worthwhile to enlist a business consultant to determine the most profitable course. A consultant can pinpoint the best location, building specifics and the rates you will need to charge by conducting a feasibility study. This study assesses a business idea by examining the required startup costs, the demand, demographics, nearby competitors, things people store and the how much people are likely to pay for storage.

Start up costs also include municipal fees and permits, and pre-construction expenses including land acquisition, connection to utilities, land preparation (soil testing, clearing, filling, grading, excavation and disposal) and planning the facility.

The feasibility study can outline the minimum cost to erect a steel self-storage building. If the consultant can determine that over time the income will be greater than the costs, you can comfortably move on the steel building design phase.

Step 2: Planning and designing the steel self-storage building.

A market study will tell you what types of units customers are looking for and how much storage space you should offer. You will need a qualified architect, who will create building blueprints and a full site plan including landscape design features and electrical and plumbing schematics.

The design will need to be approved by a civil engineer for compliance with land use regulations, effect on the environment, zoning regulations and utility connections. A structural engineer will make sure it is compliant with building codes and that the foundation and structure are composed of the correct materials.

Step 3: Storage building construction.

Once the plans have been approved, you will need a general contractor, who is responsible for all phases of construction, sub-contracting when necessary, and making sure the project stays on schedule.

A general contractor for a steel self-storage structure should have experience with steel buildings, especially storage facilities, and must be able to provide proof of insurance. A reputable contractor will also make sure that all construction debris is removed from the job site when the job is complete.

Constructing a steel self-storage building requires preparation and planning, but it can be a wise investment. The self-storage market is a rapidly growing niche in commercial real estate, showing steady gains in the last 30 years. It is estimated that a mere 10 percent of households in the United States currently use self-storage. That means you have a potential customer base of 90 percent of American households, making the self-storage industry a great ground floor opportunity with plenty of room for growth.