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Self Storage Insight Blog

The Future of Self Storage: Insights from a Millennial Industry Expert

As the self-storage industry sees rapid growth, we sat down with Brett Copper, a millennial with deep roots in the business, to understand the forces driving this expansion. His insights might just surprise you. Dive in now! 

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Starting with the overall perspective, the primary feature tenants want in a storage facility is security. It's the peace of mind that their belongings are safe and sound. That entails a well-lit facility, surveillance cameras, and solid gates. It’s not surprising considering people are storing their valuables and need assurance that they are in safe hands. The next thing on the list is climate control. Especially in areas with extreme weather conditions, having temperature-controlled units is key. This is a feature that's been growing in demand rapidly, as mentioned earlier in our conversation.

When you break down the features by generation, you'll notice some interesting differences. For baby boomers, accessibility is crucial. They prefer ground-floor units and easy drive-up access. As for Gen Xers, they lean more towards online services, like easy online booking and bill payments. They also appreciate facilities that offer extended or 24-hour access.

Now, when we get to Millennials, the trend shifts quite a bit. The convenience of online services is even more pronounced. They desire seamless online experiences, from browsing available units to finalizing a lease agreement. In addition, many are looking for eco-friendly or sustainable features in storage facilities. Whether it's solar panels, rainwater collection, or energy-efficient design, Millennials are showing that they want their storage choices to align with their values. This generation is also the most adaptable to fully automated or unmanned facilities, appreciating the efficiency and minimal contact these setups offer.

Interestingly, the study also points out that location remains king for all generations. Proximity to their homes or businesses, easy highway access, and visible signages are factors that every generation values. It reinforces the idea that while features and amenities are vital, the convenience of location is still a predominant factor in the decision-making process.

Looking forward, as the self-storage industry continues to grow and evolve, understanding these generational differences will be essential. Facilities that can cater to the specific needs of each generation will stand out and thrive in the competitive landscape. This requires not just investing in new technologies or sustainable features but also preserving the basics like security, accessibility, and prime locations.

In conclusion, the self-storage industry, with its rapid growth and evolving consumer demands, offers numerous opportunities. As Brett Coppers journey shows, understanding the industry's history, leveraging technological advances, and staying updated with studies like the SSA's demand study can be instrumental in navigating the future of this sector. Whether you're a budding entrepreneur or an established business in the self-storage space, there's much to learn and many avenues to explore. With the right mix of traditional values and modern innovations, the future looks bright for those ready to adapt and grow.
Check out Copper Storage Management's website and LinkedIn Profile!

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