Portable storage units offer lucrative opportunities for entrepreneurs who see them as the primary option for storing and transporting items. However, venturing into this business will depend on the available amount of land and capital. Not to mention, a lot of focus is also required for the day-to-day operation of this business to ensure that everything is in place.
Below are some of the tips that can help us put up a portable storage container business:
• Market conditions
The success of this business will depend on the number of people in the area who are willing to avail the rate of the service. Do some research and compare the rates of rental and delivery with other companies. If this business doesn’t exist yet in the community, then we can look for a similar one just to do the comparison.
Normally, portable storage services can reach a wider customer range than the traditional storage services – at about 30-mile radius. Also, portable storage services usually have higher rates than traditional storage units due to the inclusion of pick-up and delivery fees.
• Estimated costs
The cost of operating portable storage services will vary based on a number of factors. One, the size of the container. Two, its length. Three, its material. Four, the system of pick-up and delivery and five, the overall operating cost.
Another factor that we should consider is the warehousing costs. If we have suitable space for warehousing the customer’s storage units, then we should also factor in the cost of maintaining the storage units in that warehouse until it’s time to deliver them to the point of destination.
• Local restrictions
There are specific municipalities that restrict the placement of portable storage units but mostly, the laws allow the short-term usage of portable storage units for remodeling, moving etc. provided that, permits must be secured whether it’s for long-term or short-term placement.
• Transportation regulations
Every state has distinct laws but generally, trucks with a gross vehicle weight of 26,000 lbs. require drivers that have commercial license on driving. Also, vehicles that are commercially-owned should be registered. We can seek the help of any local transportation industry professional for compliance concerns.
• Back-up plan
What are we going to do if the only truck we are using for our portable storage container business breaks down? Or if it’s used for family emergencies? For such cases, it’s essential to create a back-up plan in order to keep the business going. Back up options might include getting a trailer truck or the help of a nearby towing company.
• Legal as well as insurance issues
Getting into the portable storage container business also means that we may need to create rental agreement. In doing this, make sure to consult an attorney who specializes in transportation law. If possible, cover every base and review the agreements of other competitors.
With regards to insurance, insurance companies might be unfamiliar about liability issues on renting portable storage. For this case, we should discuss the liability restrictions with insurance agents during the planning process.
An ideal rental agreement should cover liability limitations as well as the responsibilities of the renters (e.g. proper packing to avoid damage to the contents).
One good thing about the portable storage container business is that we can easily add more containers or units as the business grows. In case we need extra space for storing additional containers, leasing a warehouse can be considered as an option. Another thing to consider during inventory is the truck’s capacity to carry a specific number of containers.
• Marketing plan
Even if we are doing the right thing, no one knows about it unless we come up with marketing efforts to promote the products and their services. We should create marketing plans that will cater the following: homeowners, contractor, document storage needs, retailers and construction sites.
Don’t know where to start? We can check out sites like http://www.moveablecontainer.com to get an overview of their products and services as well as their price quotes and agreements.