Do you have a large garage? Do you have an empty or underused basement? Is it not possible to use your entire house anymore because of your growing family? Renting out storage space to others might be a good idea if you answered “yes” to any of these questions. There are many ways that you can make money with a storage service.
Making money with a storage space service is not as difficult as you might imagine. There are several ways you can do it, but to make sure your new business will be successful, you must work hard and take well-thought-out steps.
In this article, you will learn how to make money with a storage service. Read on.
1. Partner with Moving Companies
When people move out of their houses, they usually have too many things to keep and not enough space in the new house. Instead of selling them or throwing them away, they can hire a storage service to take care of them until they need to use them again.
Storage services are a great business opportunity open to anyone who can find someone who’s willing to store their goods in return for money. Storage space comes in handy when you’re moving, but what do you do if you have extra space after your move is over and all your stuff has been stored?
Partner with a moving company and make money off that extra space. Why? Partnering with a well-known local company is a perfect avenue to show your value as a storage service. Talk to your movers and the people who hired them about how you can help them and how it will benefit their business.
If you have storage space and moving companies in your area, then you can team up with them. You can rent out space in your storage facility to people who are moving locally. Moving companies typically charge $75-$150 per hour to move items. This is a great way to make money because they will be paying you while they are getting their job done.
SEE: Find out if moving companies are worth it
2. Generate Solar Power
Maybe you are a homeowner who wants to make a little extra money from the sun with storage service. If so, you could go the solar power route. You can buy a solar panel system and use its energy to provide power to your house or business.
You will just have to pay a monthly fee for the right to use that valuable resource. Or you can invest in a company that provides this service to others. Solar power is a great alternative way to reduce your electricity bill.
Furthermore, solar power is growing so popular that the average family could now save more than $100 per month in reduced energy costs by switching to solar. That’s a lot of money you can use for other things, including traveling for fun and business.
SEE: Explore the best ways to make money with renewable energy
3. Offer Parking Space Services
Do you have spare garage space or maybe even a small warehouse that you can’t drive into? Then offer parking services to the neighbors in your vicinity. It is known that people do not want to pay traffic fines and want to park their cars in other places, like their apartment storage. You can offer your garage or storage space for parking cars to make some money.
You can offer space in your basement, garage, or front or back yard. Property owners often make money with this service by opening their storage for parking or manufacturing space.
You have no idea how many people have problems with storing their personal or commercial items and are looking for a place to store them. If they knew that they could leave the stuff in your garage, they’d surely pay you. If you live in a big city and have some space in your home, then this business could be worth considering.
SEE: Here’s how to make money with car rental services
4. Use Your Storage for a Showroom
A large number of people want to show off their products to a wider range of consumers, but they can’t always afford a storefront. Men and women are in search of new ways to get good insight. A new business idea is popping up: the storage service market, where people rent out their storage units as showrooms.
It’s great for small businesses that just need a place to store products until they have time to sell them, but don’t want to spend money on a storefront. Additionally, there are a lot of aspiring entrepreneurs who don’t have a place where they can host their online sales or offline events.
If your storage is fully furnished and has no problems with the architecture, you can offer it to local businesses who need an affordable location for their trade shows. This storage service method not only offers convenience to consumers but also a chance for you to make money. Let out your storage spaces to people who want to rent them as a showroom and make more money by doing nothing.
5. Rent Self-Storage Units To Traveling families
You can make money by renting self-storage units to traveling families who may not have the room to store their belongings in full-time residences. What’s more, unlike most opportunities, this one is recession-proof and has no geographical limitations. It may sound obvious, but you can make money with a storage service by renting self-storage units.
It doesn’t matter if you operate out of a big, dusty old building or in a warehouse complex right next to the main highway-people need storage, and you provide the solution. Renting storage units has become a lucrative business, especially with the increase in traveling families.
It’s easy to set it up and offers quick profits for the seller. Members of a traveling family need someplace to put their belongings until they get settled into their new homes. They can go to storage facilities between their house-hunting trips.
Some storage facilities provide boxes and packing materials so storage customers don’t have to buy them. However, you might not want to rent to just anybody because there are dangers that come with renting self-storage units to traveling families.
6. Provide storage for Online Retailers
Welcome to the super fast and green way to store online retail sales. Often, online retailers rely on storing products in a physical warehouse and then shipping the items to the customers who order them. But instead of managing storage facilities and paying for employees’ or freelancers’ fees, they can choose to store their products in your storage facility.
Today, storage service providers have become more important than ever before. For this reason, the demand for storage services has increased tenfold. If you are thinking about becoming a storage service provider and earning extra money, then there are a few things that you need to focus on. One of the most important aspects is space and the number of locations you want to provide the service.
The space available will depend on how many items you want to store within it. You should also decide whether the items that you want to store need to be stored in a temperature-regulated environment or not.
SEE: Compare top dropshipping companies for your eCommerce business
7. Hire Out the Storage Space To Photography Studios And Production Companies
One of the ways to make money with a storage service is to hire photography studios or production companies. A lot of them need these services so that they won’t have to put that equipment into inexpensive studio space. On top of that, some of them may need a room or a place to set up when they are on a job shooting.
Who would have known that ordinary people could make a living by renting out the spare space in their garage or basement? More and more people are doing it. Here is how you can get yourself into that league of extraordinary. Let your extra space go to production companies and photography studios, which are always in need of creative spaces.
However, you must be cautious when dealing with strangers that come into your home and personal space. You need to keep in mind that there is a lot of paperwork to do. If you don’t feel 100% comfortable with the idea, don’t go ahead.
SEE: Discover tips to make money with photography
8. Rent It Out On Airbnb
When you’re scouring for ideas on how to make money with a storage service, why not turn your space into a storage hotel? Put it on Airbnb and watch the cash roll in.
You’ve probably heard of Airbnb, the service that allows you to rent out rooms in your house or entire apartments to tourists visiting your city. But you don’t have to own an apartment or room to benefit from the service. While it may sound counterintuitive, Airbnb is keen on renting out self-storage units as well.
Renting out your storage space is a great side hustle because it’s profitable, flexible, and gives you complete control. People are looking for places to store their stuff while they travel the world (or move to a new place), and you can make money even when you are away from home.
SEE: Learn how to make money with Airbnb
9. Run a Storage Blog
When you know the tips, tricks, and questions people ask about storage, you can write a blog that can build an online presence. This is another opportunity where you can combine your love of writing with your love of storage.
Start with a subject you know a lot about, and then start sharing your stories. As you learn more about the topic, keep researching and writing new stories. Before you know it, you’ll have a thriving blog that’s bringing in plenty of traffic and revenue. The first step is to come up with some ideas for your storage blog.
A storage blog is like any other money-making blog that earns you money from advertising and affiliate networks. You can either charge for the service or give it away free of charge. If you’re providing a free service, get as many storage units online as possible and earn referral fees. If you run a paid service, get enough favorable reviews to convince people that they can trust your website.
SEE: Here’s a beginner’s guide o how to start a blog in 20 minutes or less
10. Provide Wine Cellars
If you have a space for storage, you can make some money by renting it out as wine cellars. You will have to do some work like building racks and keeping them organized but this can be done in your spare time. The wine cellar option is more suitable for areas where the real estate prices are very high such as California and Florida.
As wine has become more popular, people have also begun to collect different bottles of wine. Wine can be expensive, that is why many who collect wine turn to people with large storage stores to keep and preserve their wine collections.
People usually have more bottles of wine than containers for them, and the bottles are rarely in a cellar at the same time. Use that fact to your advantage and offer to rent space in your home as a private, climate-controlled wine cellar. It is easy to rent out your storage space as a storage cellar and you can use the internet. You only need to make sure that you set the price.
FAQs
Why start a storage service business?
The storage business is a great choice for investors as it is easy to manage and also flexible. There is not much competition and there are plenty of opportunities to grow the business.
How much money can you make with a storage service?
You can make about $75 to $600 per month. This may vary depending on your location, size of the storage, and demand, the potential to make money with a storage service can be lucrative. In the beginning, profits are likely to be relatively small, as inventory needs to be accumulated and costs must be kept low. Eventually, the land will become more valuable and profits can increase.
Is a storage service worth it?
Yes. If you are looking to make extra money while helping others, renting out your spare room or garage as storage space could be a great option for you.
Final Thoughts
Which storage service is a good choice for you depends on your needs. If you want to make some extra money, use any of the tips listed above, you can rent it out to earn money.
And if your needs make the money aspect secondary, there are also many other reasons to choose one over the other. No matter which of those reasons are most important to you, hopefully, this article has helped you learn something new about these services.
Lastly, if you have unused space and would love to make money with it, you can. For more information, read the article that highlights tips to make money by renting out your space. You’ll learn the top smart money moves.
Thanks for reading.
