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Aspiring Entrepreneurs and Interior Self Storage Systems
01/11/2008 - By Dean Brown So let's say you've got some commercial property. Maybe you've been trying to lease it for awhile and northing has come up, and you're wondering what you can do with that commercial space just sitting in the middle of town.
So let's say you've got some commercial property. Maybe you've been trying to lease it for awhile and nothing's come up, and you're wondering what you can do with that commercial building just sitting in the middle of town. You've racked your brain for different ways to turn a profit on the property, but haven't come up with a way to do it yet.
Why not consider converting that vacant building into an interior self storage system? It's not as difficult as you might think. You've already got a leg up on the competition because it's inside a building, which makes security better. Plus, if your building is already set up for air conditioning, it's easy enough to create a climate-controlled self storage facility.
If an interior self storage system sounds like the answer to your prayers, here are a few tips on getting started.
Look at the market
If your building is located way outside of town, then it probably won't be a good idea to try and convert it. Nobody's going to want to drive too terribly far out of their way in order to store their stuff.
If you're in town, though, you've got several options. What kind of a demand is there for storage? Do people want climate-controlled, or regular? Are they looking for large storage space, or will smaller spaces do? Would you be catering to businesses or to individuals? Once you know the answers to those questions, it'll be easy to move on to the next step.
Dividing up your property
You can divide your building up in the way that will be most profitable to you. Once you take care of removing of what walls you don’t want, the shell will be ready for the crew. Keep in mind, you may want to leave an existing office or two to either rent out or use as the rental office.
A specialized crew can convert a 10,000 square foot building into an interior self storage system in a matter of weeks, so the actual time required for the conversion may not be nearly as much as you think. This can happen for under $5 a square foot, including labor and materials, so your initial investment won’t break the bank.
Employment
One of the things you might be concerned with is employment. How are you going to manage an entire self storage facility?
In reality, staffing for self storage facilities is less problematic than with most businesses ventures. Self storage facilities don't need a lot of maintenance or an army of employees. Once it's converted, it's rather easy for one person working from 8-5 to manage the whole property.
If you're at your wits' end at what to do with your commercial property, an interior self storage system could be the answer. For a minor time and money investment, you could be turning a real profit on a building that's otherwise doing nothing.
Dean Brown is the president of American Steel Buildings. Don't let your property sit idle for one more minute. If you fax or email us a basic drawing of your building, including columns, we can assist in the design of your unit mix layout or you can just let us know what you need. Visit American Steel Buildings online at GoSteelGo.com to get started.