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Self-storage has proven to be one of the fastest growing sectors in recent years in New Zealand. This growth is due, in part, to the increasing demand for additional storage space as more people relocate or move into smaller dwellings. Many businesses also require additional space to store products or documents and find renting a self-storage unit far cheaper than extending or moving business premises. Additionally, the industry offers high yields for minimal output, which makes it an ideal investment opportunity and business venture.
Indeed, those who established self-storage facilities early on have, for years, seen constant occupation of their units and broad-based business growth. Although the initial outlay is high, as money needs to be spent on purchasing property, outfitting a warehouse or building units from scratch, ensuring that units are climate controlled, and marketing the new venture, once the business has been established, there is little left to do than ensure renters pay their monthly fees and to fill empty units.
Most storage facilities also run on minimal staff and there are few other expenditures outside of regular maintenance. Running costs are, however, higher for companies that offer transportable unit options. In all cases, though, the return on investment in this field is high.
While presently the sector continues to grow, and demand for units remains high, it is predicted that at the current rate, units and operations may begin outstripping demand. Therefore, for investors looking to enter the self-storage market, one option would be to invest in already-established enterprises rather than opening their own competing operations.
The key to the sector’s sustainability is balancing supply and demand. With this in mind, since people will always need storage space, the self-storage industry is set to see continued, albeit slower, growth and is likely to be a good investment for years to come.
Contact Info:
Name: Tom McSherry
Email: Send Email
Organization: Storage2U
Website: https://www.storage2u.co.nz
Release ID: 89077478
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