Storage Units Franchise & Business Opportunities
Storage Unit Industry
General Storage Unit Industry
The storage unit industry covers businesses and establishments that rent out or lease storage space for revenue, providing a secure base for customers to retrieve and drop off their belongings with ease. Storage units can take on a myriad of forms, and can be stationary or mobile. Examples include rooms, compartments, lockers, containers, and outdoor space. The storage unit market is currently valued at a little over $20 billion, and there are over 180,000 operating businesses. Public Storage is a self-storage company that currently dominates the market, owning the largest percentage of market share.
Retail Industry Trends
The landscape of the retail industry has changed dramatically over the past decade, with the decline of brick and mortar establishments coupled with the rise of e-commerce and online shopping. The closure of major department stores has only accelerated this major transformation of the retail industry, which has increased even more with the shutdown brought on by the COVID-19 pandemic. Operators in this industry will have to revamp their business model in order to attract a steady stream of customers, therefore competing with the convenience of online models.
Key Retail Industry Numbers
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Paid-in-Full Rate
The Paid-in-Full Rate is when the SBA loan is fully paid off by the small business owner including interest, indicating financial strength.
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Charged Off Rate
The Charged Off Rate is the SBA loan default rate where loans have no confidence in being paid off by the small business owner.
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SBA Loan Success Ratio
For every 9 SBA loans fully paid including interest, 1 SBA loan was unable to be paid back, or defaulted.
-SBA Loan Data from 2010-2019
-Non-Franchise Businesses taken into account: 71,503
Storage Unit Industry Trends
This industry has remained relatively stable and resilient in times of economic stagnation, with revenue increasing at an annualized rate of 3% over the past five years. This is due to the fact that storing belongings temporarily is a constant need regardless of market conditions, and homeowners/renters needing storage space offsets even dips in per capita disposable income spending. However, this industry has not been exempt from the effects of the pandemic, as reduced economic activity overall has cut into profits. Nevertheless, businesses within this industry are expected to rebound as the economy begins to recover alongside the strong residential rental market.Average Retail Franchise Industry Percentage Fees
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Royalty Fee
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Marketing Fee
Standard Retail Franchise Industry Investment
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K
This metric is the standard industry investment amount for a single unit franchise investment in this industry. Our research and analytics team analyzed over 217 franchise concept investment breakdowns in order to calculate this figure.
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%
Paid-in-Full Rate
The Paid-in-Full Rate is when the SBA loan is fully paid off by the franchisee including interest, indicating financial strength.
0
%
Charged Off Rate
The Charged Off Rate is the SBA loan default rate where loans have no confidence in being paid off by the franchisee.
0
:1
SBA Loan Success Ratio
For every 9 SBA franchise loans fully paid including interest, 1 SBA loan was unable to be paid back, or defaulted.
-SBA Loan Data from 2010-2019
-Franchise Businesses taken into account: 6,829
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