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Storage

Storage in Australia

If you are considering Storage Opens in new window industry, you are entering one with decent growth prospects. On the personal side, many people needed this when losing their homes in the past few years.

Now that the global economy is recovering, demand from that market should decrease. However, many manufacturers, wholesalers, and retail trade outfits are outsourcing their storage needs.

If you are looking to get into this industry, that aspect should be your best bet.

Storage Business

However, if you are going to access that aspect of the industry, you will need a large amount of capital. Unless you have the right connections, accessing that capital can be difficult.

You will need a very well thought out business plan. Hopefully, this will impress lenders or investors. Consider a storage business for sale by an owner desperate to get out.

Another option may be to rent out a large physical location. You will still have to build the interior units, however. The process can take a few months, so be financially prepared.

The next key aspect is to research what kind and what amount of insurance you will need. You can also give renters the option to pay extra for it.

Research the competition in your locality, as there will be a lot of it. Densely populated areas, which have small living spaces, are the areas where people need your service the most.

Another area where your service is needed would be around new housing and business developments.

Now, it's time to market your company. Distribute flyers to as many local companies as possible. You can try homeowners too, if you would like.

Contact the local radio station. Radio advertising is often highly effective for a very low cost. Consider the classified section in the local newspaper.

Be on the lookout for local tradeshows and networking meetings. Offer potential customers an introductory rate to get their foot in the door. Raise your rates later on, but be sure to make this clear in your advertising.

If you are considering buying a storage business, keep these facts in mind. If selling a storage business is what you are looking to do, this market presents a good opportunity.

About the Author

This Wiki was written by Andy White, CEO of Biz Trader Opens in new window.