Self-Storage Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 12/5/2011
SIC Codes: 4225
NAICS Codes: 53113
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Self-Storage Services Industry Profile

The US self-storage services industry consists of about 9,000 companies with about $6 billion in combined annual revenue. Major companies include REITs such as Extra Space Storage, Public Storage, Sovran, and U-Store-It. The industry is fragmented: the 50 largest companies generate about 40 percent of revenue.

COMPETITIVE LANDSCAPE

Demand for self-storage services is driven by population growth and consumer spending. The profitability of individual companies depends on marketing and pricing. Large companies enjoy economies of scale in administration, marketing, and purchasing and are often better able to finance acquisitions. Small companies can compete by specializing in local markets or by offering niche services. About 90 percent of self-storage companies operate one facility.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major services consist of providing units of varying sizes for storage of customers' personal or business belongings. About half of storage units are climate-controlled. Many companies provide storage space for large items such as cars, boats, and RVs; some larger companies offer products such as packing and moving supplies. Facilities vary in size, but an average facility covers more than 45,000 square feet, according to the Self Storage Association (SSA).

Operations include leasing, maintaining, and protecting the storage units. Units are typically leased month-to-month to customers who have passed background and/or credit checks. Customers in most cases are responsible for moving items in and out of their own spaces. Customers generally have private access to their own stored goods and are responsible ...

 
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