Self-Storage Services

Self-Storage Services

Brief Excerpt from Industry Overview Chapter:

Companies in this industry rent or lease locations for self-storage, providing secure space (such as rooms, compartments, lockers, containers, or outdoor space) where clients can store and retrieve their goods. Major companies include REITs such as CubeSmart, Extra Space Storage, Life Storage, and Public Storage (all based in the US), along with Dymon Storage (Canada), Safestore (UK), and Shurgard (Belgium).

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. the US industry is concentrated: the 50 largest companies generate about 60% of revenue.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major services consist of providing units of varying sizes for storage of customers' personal or business belongings (97% of industry revenue). A growing number 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..