It’s no secret that the self-storage industry has undergone tremendous growth in the past few years. The self-storage industry of today looks far different than it did several years ago. The reason? Better use of technology in self-storage facilities, and an increased demand for their services. Today, we wanted to share some critical self-storage statistics that can impact your business. These not only span the realm of software, but the industry as a whole.
Let’s take a look at three critical self-storage statistics your organization should be aware of:
Self-Storage Software Helps You Save 40+ Hours a Month on Manual Tasks
A self-storage software solution is an invaluable tool for helping your facility become more efficient. Studies have shown that using self-storage software can save a facility upwards of 40 hours a month.
As a business owner, time is one thing you likely don’t have enough of. Imagine what your business can do with another 40 hours a month. From focusing on growth initiatives to developing ways to improve the tenant experience, self-storage software can give back the time you need to truly reinvent your business and stay on the path to growth.
Increase Employee Productivity by 33%
In addition to saving tons of time on tedious, manual tasks, self-storage software also enables your employees to operate more efficiently and accurately. Neither you nor your employees should be wasting time combing through tons of files and paperwork searching for data.
Self-storage software allows you to automate processes, get rid of tons of paper, and make your business more organized. The result? Happier, more productive employees, and a smoother client experience with fewer mistakes stemming from manual data entry or misplaced files.
The Self-Storage Market is Projected to Grow Over 5% Annually in the Coming Years
An external study projects that the self-storage industry will continue to grow at an annualized rate of over 5% in the coming years. In 2020, the self-storage market was valued at $48.02 billion. By the year 2026, it is expected to reach a staggering value of over $64 billion. This equates to over 5% annual growth!
With this in mind, it is critical that your facility is able to handle surges in demand and grow with the times. This will be increasingly difficult for businesses that are not leveraging a self-storage software solution and are reliant on pen and paper to run their facilities. Although you may be able to handle the workload today, it is critical that facilities consider if this will be the case several years from now.
Facilities that are ill-equipped to operate efficiently in periods of high demand will lose their tenants to facilities that are. At its core, investment in a self-storage software solution is an investment not only in the present, but the future operational efficiency of your business.
It is also important to consider aspects of your business like your website, which may go overlooked. In order to stand out in a crowded market, your website needs to be top-notch. Investing in a great website is an excellent way to draw more tenants to your facility, and make the most out of a high-growth market.
We hope these self-storage statistics will help your organization chart the course forward and better understand not only the impact of a self-storage software solution on your business, but the larger industry in which you are operating.