A typical self-storage business in Australia that's still open after three years brings in $31.8k a month ($382k a year) and keeps about $48 of every $100. That leaves about $183k a year.
The top 10% make more than $78k a month. The bottom 10% make under $13k.
Thinking of starting a self-storage business?
- Typical cost to start
- $477k
- Still open after 3 years
- 88%
Monthly revenue by year
Estimate · For businesses still trading at each point.
| Year | Bottom 25% | Typical | Top 25% | Top 10% |
|---|---|---|---|---|
| Year 1 | $7,500 | $13,400 | $23,700 | $39,700 |
| Year 3 | $19,800 | $31,800 | $51,000 | $78,000 |
| Year 5 | $24,900 | $41,400 | $68,600 | $108,200 |
Year 3 monthly revenue
How much does it cost to start?
Typical cost to start: $477,300.
| Item | Typical cost |
|---|---|
| Land or long lease | $238,600 |
| Containers & units | $147,700 |
| Security & access control | $43,200 |
| Groundworks | $34,100 |
| Marketing & software | $13,600 |
Where the money goes
Estimate · Share of revenue for a typical business in year three.
How many survive?
Estimate · 88% are still trading after three years, and 74% after five. These are the reasons owners gave for closing:
What the successful ones do
- Started with containers before building
- Ran online booking and automated gate access
- Raised rates for existing tenants every year
How to start one, step by step
Verified self-storage businesses on HumDays
Northside Self Storage
“We started with 40 containers on a gravel lot. The software runs the front desk.”
Questions people ask
Is a self-storage business profitable?
Estimate · Usually, if it survives. A typical self-storage business in Australia keeps about $48 of every $100 in sales by year three, which on typical sales leaves about $183k a year. 12% close within three years.
How much does it cost to start a self-storage business?
Estimate · The typical cost to start is $477k. The biggest items are land or long lease and containers & units.
How long until a self-storage business makes a profit?
Estimate · A typical business had its first profitable month after 14 months. Side-hustle starts took about two months longer.
Why do self-storage businesses fail?
Estimate · The most common reason owners give is “slow lease-up” (34% of closures), followed by “debt costs rose” (27%).
Is a self-storage business seasonal?
Estimate · Summer moving peak. Survivors plan cash around the quiet months.
Ask self-storage owners
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