That was the size of the self-storage market in the United States in 2017. That’s a big number but it needs some context.
It exceeds the total revenue generated by coffee shops in the US at $23.4 billion (which 90% I would bet was generated here in Portland) and it comes in just under the US movie industry at $43 billion which, don’t forget, saw a new Star Wars and three Marvel movies 2017.
Why do I bring this up?
Self-storage is in high demand due to unprecedented growth in urban areas. This includes secondary markets like Atlanta, Denver, and Columbus, OH. People moving to these new cities are typically downsizing and are in need of affordable, flexible storage. Typical self-storage facilities are poorly equipped to deal with this new reality. In fact, self-storage growth is stagnating in some places even as growth is not. Rising property costs are making building new facilities uneconomical. This is due to the inability of new tenants to pay the high rents needed to make the required ROI on any new building investment.
This is a fantastic opportunity!
The demand for self-storage is there, but the existing market cannot expand fast enough to accommodate the demand. That’s where XS Spaces comes in! By opening up existing underutilized space, more storage can be provided without having to even look at a shovel to break ground with.
This opportunity is open to anyone. Being a Space Owner on XS Spaces is easy and the money you make can go a long way. In fact, discover how much you can make a month here!
Help XS Spaces disrupt the antiquated storage market and make easy extra money while you are at it. Sign up here!