Northside Self Storage
“We started with 40 containers on a gravel lot. The software runs the front desk.”
RDRon & Deb Kessler · Northside Self Storage · Since 2014
12-mo revenue$454,620+5% vs last yearSquare + Plaid
!This budget covers under 15% of the typical cost to start ($477k). Almost nobody starts a self-storage business this way. The few who did bought an existing one with seller financing, or leased the equipment.
Based on 74 real self-storage businesses in the US, including 9 that closed.
!Your budget is about $583k short.
Bills run about $8,910 a month (fuel, insurance, rent, phone). Most owners make a profit after about 14 months. Keep this much aside to pay bills until then.
Zoning approval and building permit.
Fire marshal inspection and certificate of occupancy.
Form an LLC with your state ($50 to $500). Get a free tax number (EIN) from the IRS.
Free to about $15 a month. Keeps business money apart from yours.
Sets up your books and files your first tax return.
Before costs. Summer moving peak.
| Slow | Typical | Strong | |
|---|---|---|---|
| Year 1 | $5.9k | $10.5k | $18.6k |
| Year 3 | $15.6k | $25k | $40.1k |
| Year 5 | $19.6k | $32.5k | $53.9k |
Slow: 1 in 4 make less than this. Typical: half make more, half make less. Strong: 1 in 4 make more than this.
“We started with 40 containers on a gravel lot. The software runs the front desk.”
$608k
about $2m
Starting costs about $1.4m less. Buying costs more, but you earn from the first month and skip the risky early years.