Storage Facilities Research

Goals

To obtain information about storage units, including consumer dislikes/pain points, storage duration, common items stored, and when items are stored the most.

Early Findings

  • According to Life Storage, the top 7 reasons why people use storage include the following: to reduce or eliminate the stress of moving, to create more free space at home, to ensure that vehicles are safe during offseasons, to store belongings for a loved one, to empty dorm rooms during summer, and to make sure business inventory stays organized.
  • The Motley Fool reports that the storage industry generates $38 billion annually. This yearly revenue is obtained from "1.7 billion square feet of rentable space".
  • Curbed reveals that one out of every 11 Americans spends $91.14 on average monthly to use self-storage.
  • Despite demographic shifts and recessions, few types of buildings have flourished like self-storage lockers.
  • Data from SpareFoot reveals that the United States has over 50,000 storage facilities.
  • Over the last few decades, the storage industry has flourished because Americans are relocating and baby boomers are downsizing. Also, small businesses need space to store excess inventory.
  • According to the spokesman for Extra Space Storage, Jeff Norman, surveys have shown that “people rent a storage unit for approximately twice as long as they believe they will.”

Proposed next steps:

You need to be the project owner to select a next step.
Our initial search has provided some insight into the storage industry. We recommend further research to provide the following: 1) 4-5 things/issues/factors people dislike about storage facilities. Here, we would also provide insight into how long people usually have/use units. 2) 4-5 of the most unique/interesting/expensive treasures left/discovered in a storage unit. 3) When (times of year and occasions/life events) people are most likely to use storage facilities. 4) 4-5 types of goods people store the most.
Alternatively, within 3 research hours, we may provide information about storage units, including consumer dislikes/pain points, common items stored, and when items are usually stored.
Also, we recommend further research to provide a SWOT (strengths, weaknesses, opportunities, and threats) analysis of the US storage market.