In many ways, Boat And RV Storage is different from traditional self-storage. The clientele is different, and the infrastructure is generally more expensive.
Before deciding to build a new boat and RV storage facility, it is important to perform market research and get a feasibility study. This will give you the information you need to ensure your facility is built for long-term success.
A lot of people who use boat and RV storage are looking for a place to store their recreational vehicles, boats, and trailers. These facilities are usually located near lakes, beaches, and campgrounds. Some are even located inside national parks. The demand for RV and boat storage is increasing due to a growing interest in outdoor recreation. It is also a great alternative to storing vehicles and equipment in the garage or driveway, where it can become an eyesore or a safety hazard.
As a result, RV and boat storage is becoming an attractive investment option for many real estate investors. This type of storage is also a more profitable business than traditional self-storage, as most of the items stored are not disposable. For instance, a person may toss a couch or some old knick-knacks after they are done using them, but they are more likely to keep their boat in the garage for years.
It is important for new investors to understand the differences between a boat and RV storage facility and a traditional self-storage facility. The location of an RV and boat storage facility is a major factor, but other factors include the amenities and security offered by the facility. These factors can have a significant impact on the success of the business.
The best locations for RV and boat storage facilities are in areas with a high population density and easy access to highways. The area should also have adequate access to the water and local roads. The facility should be large enough to accommodate the largest recreational vehicle possible, with a minimum of three acres. It is important to consider zoning laws when locating a facility. Zoning restrictions can prevent a property from being used for commercial storage, and changing the zoning designation is a time-consuming process.
In addition to location, it is important to know your market. This includes identifying if there is a market for boat and RV storage in your area, and what kind of facilities are needed to meet the demand. Many boat and RV owners are willing to travel farther for storage than self-storage customers, so it is important to advertise the facility’s location effectively.
Pricing
In the current sluggish economy, many people are holding on to their money, and they still have a strong desire for recreational fun. The result is a steady demand for Boat and RV Storage. These large vehicles don’t come cheap, and they require substantial space to house them properly. Consequently, building a dedicated RV/boat storage facility can cost more than standard self-storage units. However, this type of investment property often delivers a higher ROI.
The biggest expense associated with building a Boat and RV storage facility is the land acquisition. These facilities typically span an entire acre or more, and they are designed to accommodate many large vehicles at once. To generate enough revenue to pay back the land costs, the facility needs to be constructed in a way that maximizes capacity and profitability.
A common design for a Boat and RV storage facility is a fully enclosed building. This structure resembles a big garage, and it is often secured with perimeter fencing and video surveillance. It is also helpful to have a gated entry, with 24-hour access and keypad-operated gates for added security. Additionally, a camera aimed at vehicle license plates is often useful in preventing theft.
Some boat and RV owners may not be able to store their vehicles at home due to space constraints or homeowner association (HOA) restrictions. These restrictions can be particularly troublesome in urban areas where the streets are narrow, and parking in front of the home can cause damage to curbs and driveways. In these situations, the best option for the owners is to find secure storage facilities.
These facilities offer a variety of rental options. Some are fee-based, while others are based on a square foot or lineal foot basis. In either case, the rate can vary based on location, size, amenities and other factors.
Because a Boat and RV storage facility tends to attract higher-end clients, ancillary services can be included in the rental price or offered on an a la carte basis. These services can include wash bays, propane stations and other amenities to make the customers’ experience more pleasant.
Amenities
While RV and boat storage used to be a fairly simple affair, with facilities that resembled nothing more than a dirt field roped off with a chain-link fence, now operators know that this market segment can offer them the opportunity for high returns, just as other types of self storage. However, it can also bring its own unique challenges. This niche requires advanced security and a distinct marketing approach, along with specialized amenities that are often incorporated into the facility itself or offered as a separate service.
These facilities can vary widely, from fully paved or concrete stalls to open storage and canopy-covered parking spaces. Generally, the best options for customers seeking outdoor storage are fully enclosed units on a concrete pad, which provide a level of weather protection and a sense of security that can’t be found in an open-air storage area. This type of facility is also the preferred option for those whose HOAs prohibit them from storing their vehicles on their property.
Many boat and RV storage facilities also offer services that are not usually offered in traditional self storage, such as power in each unit to keep batteries charged, vehicle wash bays, and even dump stations and water-filling stations for camper customers. These amenities and others can help differentiate your facility from the competition and increase customer satisfaction, as well as add to your overall revenue potential.
Another way to distinguish your business is to focus on locations near popular recreational areas and bodies of water, as this can appeal to customers who are looking for a place to store their vehicles during the off-season or while they’re away on vacation. It’s also important to note that boat and RV storage customers tend to be willing to travel a greater distance than those looking for a traditional self storage location (a 20-mile radius is more acceptable than a 3-5 mile radius).
Considering the higher hard and soft costs associated with this market, the specialized infrastructure required, land requirements and zoning restrictions, it’s essential to conduct proper research before investing in this type of property. It’s also crucial to partner with experts who understand the industry and can guide you through the feasibility process, site selection and design, construction, and development.
Security
Annual construction spending has skyrocketed in the self-storage industry over the past decade, and the saturation of conventional facilities has put significant pressure on operators to differentiate themselves with high-quality security elements. This is particularly true for boat and RV storage, where customers have elevated expectations of protection for their valuable assets. Smart facility operators understand that they need to go above and beyond the bare-minimum chain-link fence and other security defenses for boats and RVs.
The fact is, these are expensive machines that attract thieves and vandals, so customers want a fully fenced-in facility with a well-lit compound that discourages potential criminal activity. Additionally, RVs and boats can be damaged by humidity and water, so it’s important to prevent moisture buildup and monitor bilge levels. Moisture that isn’t dealt with can cause mold, mildew, and structural damage, so a well-ventilated facility with dehumidifiers or moisture absorbers is crucial.
Lastly, a well-lit compound also provides tenants with peace of mind that they can easily access their vehicles during the night. This is a big benefit for RV and boat owners who are traveling to and from the storage facility during late hours. Additionally, it allows them to quickly and safely retrieve their vehicles in the event of an emergency.
In addition to the high-security features that boat and RV storage requires, it’s also important to consider the convenience that these customers are looking for. For example, RV and boat owners may want a location that has secure online rent payment or online unit reservations, as these options provide convenience and speed. Additionally, they might prefer a location that offers a variety of storage types to meet their specific needs.
With these benefits in mind, boat and RV storage is a lucrative niche in the self-storage industry that requires a unique set of skills and facilities to be successful. By following these best practices, facility managers can ensure that they’re offering the best possible experience to their premium customers. This will help them retain existing customers and attract new ones, increasing overall revenue for their facilities.