Investing in a Mini Storage Business

Scott Schwartz, originally from Minnesota, was brought to Thermopolis, Wyoming, under difficult circumstances. He moved to assist his ailing father in his final days. When his father passed away, Scott was fortunate enough to be left with a share of his father’s stock portfolio. Scott, unable to work himself due to health problems, was grateful to inherit the stocks, but was skeptical of leaving the money in the market. He was confident he could put that money to better use, and with a need for income, he decided to invest in a mini storage business.

Project Details

Building Size 40 x 200 x 8.5
Wall Color Light Stone
Trim Color Rustic Red
Roof Color Galvalume
Roof Pitch 1:12
Location Thermopolis, WY
Project Consultant Stephen Birrittella
Project Coordinator Jonah Goldman
40x200 Mini Storage Building Package
Stoweaway Mini Storage Buildings

Why Scott's Mini Storage Business is Successful

Here are a few factors that influence the success every self-storage business.

Growth in the Mini Storage Industry

For more than 35 years, the mini storage industry has seen significant growth. As the population continues its trend toward downsizing and renting, vacancy levels are at all-time lows as people simply need more space for their belongings. This is resulting in higher rent and higher profits for mini storage business owners.

Strong Initial Investment

Scott opted for a bigger building, choosing to build a 40×200 instead of the more common 20×100. With the affordable prices of steel buildings, Scott was able to get more out of his investment while allowing for future growth.

Efficient Construction:

Scott was looking to establish a reliable income with what was left from his father. The ability to quickly erect a building allowed Scott to get his business off the ground in a relatively short amount of time.

Easy to Expand

The versatility of prefab metal buildings gave Scott the potential to expand his business in the future. Not only can he expand upon his existing storage units, General Steel designed the building with removable doors to accommodate the needs of various customers. This simple yet effective forward thinking design decision allows Scott to change the size of the storage units that make up the unit mix.

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