The Sunshine State is well known as a vacation lover’s paradise but also has a very strong residential base and those people need places to store all their accumulated belongings. With the United States going from the larger overpriced but spacious homes to the more accommodating smaller carbon footprints of apartments and single-family residences, it only makes sense that self storage units are on the rise and this is a good time to be in the business. In order to buy a nice self storage unit business in the beautiful State of Florida one will need capital and also a bit of a working knowledge on how to run a business especially a self storage unit business.
Self storage businesses are unlike every other business in the fact that once they are set up and running they can be hands-off except for a few monthly visits for the owner himself. This does not mean that it should become a slum lord type of situation but this means that if one good person is hired to run and live on the property that is really all the hands on that is needed for the startup business of a self storage entity. There is a great argument about this and some say that a business owner should be hands on and always on the property in case anything breaks or something needs addressing, yet this is what the onsite manager is paid to do and paid well.
To put things into perspective of how nice it is to own a self storage unit business in the State of Florida let us look at the numbers shall we? Fine, for starters a one-hundred unit self storage facility with the adequate and varied number of sizes available on the market today runs for around one-hundred and twenty-five to one-hundred and seventy-five thousand dollars to outright purchase. This does not include any of the ‘re-sets’ that are needed such as new security systems, new locks, maintenance on the property, pest control, landscaping and underground piping and underground wiring that could be necessary before the” we are renting” sign comes out. The other factor that is an easy mention in the State of Florida, and needs to be addressed, while trying to operate and purchase a self storage unit facility are the permits. The State of Florida is well known for being a red-tape state which means that you may have to jump through a few hoops but those hoops once jumped through will be very lucrative in the end.
Always keep the end goal in sight and see the forest through the trees. Many of today’s self storage unit businesses generate a good load of income and require a little maintenance besides the occasional landscaping and pest control and lock change outs. Of course there will always be the normal utilities and the security center payments and the insurance and paying the employee or two if you need a maintenance man and an onsite manager yet these can be weaved into the actual cost of operations of the daily business. All in all any self storage unit business that is looked at in the State of Florida will be a very lucrative one and one that will bring in great dividends for the go-getter entrepreneur.