28
Feb

Storage Companies

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Have you seen the latest numbers in self storage lately? There are over 55,000 storage facilities in the U.S. and 1 out of 11 house holds currently rents self storage units from storage companies. In other statistics, the number of storage facilities has doubled in this decade with current storage companies adding more locations to their line-up and new storage companies emerging. The question many people are asking is why now? Why are so many new self storage companies emerging and old ones expanding? The laws of physics tell us that when ever there is a cause there is an effect. If the growth of storage companies is the effect, what is the cause? Perhaps there is more than one answer. But to find out we have to look at other trends that have been running parallel with the self storage companies.
 
Since the early 90s, people are more mobile than they use to be. This means people are no longer taking up lifetime residences in one place like our grandparents did. Storage companies benefit because people need storage rentals for moving storage. The reasons for moving are vast. In the yesteryears, to get ahead in a career people had to stay with one company and work their way up the ladder. Nowadays, the opposite is true. Companies are moving away from promoting within the company and hire from the outside to fill executive positions. This causes people to relocate more often for jobs in other cities than their current one. Storage companies help with the relocation process by providing storage space for furniture storage. Businesses have their reasons for not promoting within. Many people have a difficult time transferring from coworker to boss. The success rate is quite low. So many companies get someone from the outside that does not currently have a working relationship with his subordinates.
 
Higher divorce rates have contributed to the growth of storage companies indirectly. The late 80s and 90s have seen divorce rates skyrocket. The increase of divorces is due to a few reasons which include new divorce laws making it easier to get a divorce and advancements with womens rights has gave women more independence. In all divorce cases, someone in the household moves out. During this transition, storage companies provide storage space for the person leaving the home until they find a new place to live. Hence, more and more people have been seeking self storage companies.
 
A third reason why the demand for storage companies increased is from peoples demand to have everything. The 1990s and the current decade has enjoyed one of the quickest technological booms ever in history. From computers to the internet, and home entertainment systems to home additions, America has to have it all. We are a greedy society. Consequently, self storage companies prospered. When people bring in the new, the old gets stuck in a self storage unit. Basements have been transformed for storage space to media rooms so all that storage has to go somewhere. When people build home additions, they call on storage companies to protect their furniture and other belongings that may get damaged during the construction process.
 
So there you have it, a quick study about the expansion of storage companies. They did not just get build hoping people will come like in the movie with the baseball field in the cornfield. The public quietly demanded them.
 
 
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