What You Need to Know About Facility Construction
Expanding a self-storage facility is something many owners and managers have come to realize is a necessity upon a successful business. It is a basic part of the industry that one must understand in order to stay relevant in this competitive field, and the trends are constantly changing.
Things like the constantly growing population and a stronger push for green energy are factors to consider when you are looking to add to your self-storage facility. For example, more and more individuals are going to be seeking storage solutions as the amount of items they own increases over time. At the same time, most of these individuals will more than likely be searching for businesses that utilize green energy and have an environmentally-friendly stance in their practices.
With the population as large as it is now and the fact that it is expected to increase greatly over the next few decades, pay attention to the fact that most people are moving to urban areas. Look into opening a new facility within the city, or expanding your already urban-based facility to accommodate for this boom in residents.
Should you choose to join the many businesses that populate downtown areas, know the regulations and guidelines that come with this move. Be flexible when it comes to choosing an urban building or expanding your current facility. Codes will vary from city to city. For example, don’t choose a location that you know will be troublesome in terms of construction and what you can and cannot build.
Embrace this expansion as an opportunity. Seeing as self-storage facilities saw a boom in production before the 1970’s, constructing a newer building allows you to add the latest pieces of technology and innovation from scratch, thus keeping you ahead of your competition. Keeping in mind the recent push for greener energy, you can introduce features such as solar panels and wind turbines (so long as space allows). The downside however, is the price that comes with installing these devices. Green energy can be costly, but the return on investment can be extremely profitable.
As previously mentioned, location is very important. You’ll want to establish your facility nearest to the most populated areas you can. Research has shown that these include urban areas, college campuses and universities, and hotels. Once you’ve accounted for all the expenses that expansion will bring, and the logistics of these additions have been measured, your self-storage facility has the potential to benefit greatly from further construction.