A three-year plan for self-storage operators adding covered units: Year 1, stabilize and confirm demand through a waiting list. Year 2, build and lease 10-15 premium spaces near the entrance. Year 3 and beyond, use that cash flow to expand further.
Chapters
So year 1, stabilize operations, build occupancy, confirm your market's demand for covered storage. The signal you're looking for is a waiting list for covered spaces. So tenants calling to ask if you have covered availability. If you don't have covered spaces yet and tenants are asking, you have confirmed demand. Year 2, go ahead and design and permit the first row of covered structures. Select the section of your site closest to the entrance, maybe, or with the best access characteristics. Start with 10 to 15 spaces, price them at the market premium, and lease them up. Year 3 and beyond, use the cash flow from the covered, the covered row spaces to fund the next phase. StorageMoguls.ai for covered storage ROI calculator. It's there. Sequencing framework. Operators have already done this edition and more are there. It's free to join. So join Storage Muggles, run the math, build what the demand supports. See you tomorrow.