Industry Analysis & Industry Trends
Over the past five years, the Self-Storage Services industry has grown due to rising demand from Australian consumers, especially those relocating for short-term purposes such as employment or study. The industry has also grown steadily due to the lack of feasible substitutes for self-storage services. Consumers have turned to industry operators to store larger items, such as furniture or automobiles for later use. Demand for self-storage facilities from businesses has also grown over the past five years, with increases in online shopping causing small online retailers to increasingly rent storage space to keep stock. As a result, over the five years through 2016-17, revenue for the Self-Storage Services industry is expected to grow by an annualised 3.3% to total $1.1 billion, with 1.7%... purchase to read more
Industry Report - Industry Investment Chapter
The Self-Storage Services industry has a low level of capital intensity. For every $1.00 paid as wages, only $0.12 is required as capital investment. Despite wages accounting for a significant portion of the industry’s cost structure, the industry is not heavily reliant on labour functions, with an average of less than three full-time employees per establishment. This is due to its highly autonomous nature, with labour employed to oversee general operations. The role of security and call centre operations is being increasingly outsourced by the industry, lowering the need for labour and reducing wage costs as a share of revenue. Labour is still a significant part of the overall industry due to the high number of establishments spread around Australia.
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