A typical self-storage business in the US and Canada that's still open after three years brings in $40.7k a month ($489k a year) and keeps about $48 of every $100. That leaves about $235k a year.
The top 10% make more than $99.9k a month. The bottom 10% make under $16.6k.
Thinking of starting a self-storage business?
- Typical cost to start
- $477k
- Still open after 3 years
- 85%
Monthly revenue by year
For businesses still trading at each point.
| Year | Bottom 25% | Typical | Top 25% | Top 10% |
|---|---|---|---|---|
| Year 1 | $9,600 | $17,100 | $30,300 | $50,800 |
| Year 3 | $25,400 | $40,700 | $65,300 | $99,900 |
| Year 5 | $31,900 | $52,900 | $87,800 | $138,400 |
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
Share of revenue for a typical business in year three.
How many survive?
85% are still trading after three years, and 72% 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?
Usually, if it survives. A typical self-storage business in the US and Canada keeps about $48 of every $100 in sales by year three, which on typical sales leaves about $235k a year. 15% close within three years.
How much does it cost to start a self-storage business?
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?
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?
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?
Summer moving peak. Survivors plan cash around the quiet months.
Ask self-storage owners
No questions about self-storage businesses yet. Ask the first one.