A Brief History of Self Storage

 In Moving, Packing, Storage

In the 1970’s, self storage first made it’s appearance in Australia; today, there are more than 1,000 self storage facilities around Australia. Since then, the self storage industry has grown by more than 20{5b0dea20c4ad65b62c95685943e3af5ec180db2be7d4abbb1c43f957f69f1fcf}, yet it is far from being a mature market.

Today, more than one in ten U.S households rent and use a self storage unit, a much larger market than in Australia, whom less than one in twenty-five households rents and uses a self storage unit. But the phenomena is more than a business one; it is a social comment of our times, showing just how valuable space has become and could explain why the self storage industry is growing at such a rapid rate.

A report written on June 1st, 2006, a collaboration between Mintel Consulting and the Self Storage Association Of The United Kingdom, details the amount of rentable square feet per country. The U.S, overshadowing ever other country, has 1.6 billion square feet of rentable space (148.65 km squared), Australia having 22 million, followed by the United Kingdom with just 20 million square feet.

Also, according to the 2006 report, there are more than 41,000 in the U.S alone. Australia has few for it’s size with 1,000 facilities nationwide, the United Kingdom with 700 and France only having 220.

In 2010, a study was conducted investigating the demand for self storage in Australia and New Zealand, which found that there had been a 17{5b0dea20c4ad65b62c95685943e3af5ec180db2be7d4abbb1c43f957f69f1fcf} increase when compared to previous years. The study also found based upon it’s research into the factors that lead people to self storage is that half of the potential customers were using the Internet to search for their ideal, local facility.

In addition, 40{5b0dea20c4ad65b62c95685943e3af5ec180db2be7d4abbb1c43f957f69f1fcf} of customers were repeat users of their self storage facility of choice. The rate had increased from the 2008 figures by 20.4{5b0dea20c4ad65b62c95685943e3af5ec180db2be7d4abbb1c43f957f69f1fcf}, and 87.7{5b0dea20c4ad65b62c95685943e3af5ec180db2be7d4abbb1c43f957f69f1fcf} of customers had been satisfied by the services they had been provided by their preferred self storage facility.

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