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Self-Storage ServicesPublished by: First Research, Inc. Published: Oct. 26, 2009 - 10 Pages Table of Contents
AbstractThe US self-storage services industry consists of about 7,000 companies with about $5 billion in combined annual revenue. Major companies include U-Haul, owned by AMERCO, and REITs such as Extra Space Storage, Public Storage, and U-Store-It. The industry is fragmented: the 50 largest companies generate about 40 percent of revenue.Moving and storage, in which storage may be provided along with moving household and office goods, and warehousing and storage, which typically involves logistics services as well as storage, are covered in separate industry profiles. 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 self-storage industry is labor-intensive: average annual revenue per worker for a typical company is about $110,000. About 90 percent of self-storage companies operate one facility. PRODUCTS, OPERATIONS & TECHNOLOGY Major services consist of providing units of varying sizes for storage of customers' personal or business belongings. About half 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. Facilities vary in size, but an average facility covers 45,000 square feet, according to the ... Get Full Details About This Report >> |
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