Which does America like more – hoarding or fast food? While we do have a population that struggles with obesity, it seems as if our love of holding onto items outweighs that for fast food. A new report issued by RE Journals, a commercial real estate publication, shows that there are more self storage facilities in the country than McDonald’s restaurants. According to Curbed, there are 14, 350 McDonald’s restaurants while the number of self storage facilities comes in at 48,500 – more than twice that of McDonald’s.
The self storage industry is estimated to take in around $24 billion in revenue each year, proving that there is more than enough money to be made by giving people a place to store their stuff. $3.25 in state and property taxes are generated as a result of the self storage industry. This is pretty impressive if you consider that the rent you pay to store your personal mementos helps to fuel areas that education and healthcare.
Self storage has long since been big business and reality television has helped to bring it to the mainstream. Auction Wars and other self storage themed shows put the self storage industry into the living rooms of Americans, which helps to make storage more than just an after thought.
According to Maurice Pogoda speaking to the RE Journals, “There is about 7 square feet of self-storage space nationally for each person in the United States. That’s an awful lot of self-storage space. This sector isn’t under the radar any longer. It is very much a big business.”
Self storage is no longer about having a unit that you visit a few times a year. The general public now knows about self storage auction and entrepreneurship in the industry. Not to mention, valet self storage has really taken off lately, which will bring a whole new set of customers who probably would have liked to try self storage but always thought packing and unpacking a unit on their own would be too much trouble.