Industry Analysis & Industry Trends
Over the past five years, the Self-Storage Services industry has been supported by steady demand from Australian consumers, especially those relocating for short-term purposes such as employment or study. The industry has also grown steadily thanks to the lack of feasible substitutes for self-storage services, with consumers turning to industry operators to store larger items such as furniture or automobiles for later use. As a result, over the five years through 2013-14, the Self-Storage Services industry is expected to grow at an annualised 1.8%. Profitability for the industry has also grown over the past five years as operators have aimed to reduce costs... purchase to read more
Industry Report - Starting a New Business Chapter
The primary barrier to entry is the lack of access to a scarce input: space to build or rent a facility. A major area of internal competition is location-based, with customers showing a preference for sites that are easy to access. Space at industry sites, once secured, can be leased with minimal investment into facilities to provide services that are more basic. This means that the amount of capital required in establishing a business is moderate. The industry has a low level of regulation and technology change, further reducing barriers to entry.
Marketing and establishing a presence in a market are reduced as barriers by the basic nature of some industry services... purchase to read more