By Mike Jones, Storage.com
Self Storage Industry Surpasses McDonald’s
The self storage industry is thriving throughout the country with three times as many self storage facilities in the United States as there are McDonald’s. As of 2014, McDonald’s had 14,350 fast food restaurants in the states compared to 48,500 self storage properties nationally.
In 2014, self storage facilities generated more than $24 billion in revenue, according to the Self Storage Association (SSA). The SSA also reports that the self storage industry is the fastest-growing segment of commercial real estate in the last 40 years and is considered “recession resistant” by Wall Street analysts based on steady performance before, during, and after the 2008 economic recession. There are approximately seven square feet of self storage available for everyone in the country with one in 10 people currently renting a storage unit somewhere.
Maurice Pogoda, the president of Pogoda Companies based in Farmington Hills, Mich., stated, “This sector isn’t under the radar any longer. It is very much a big business.”