It’s no secret home sales are slowing down. So are the listings. Prices are still sky high and most people with 2% mortgages don’t like the idea of selling now and moving into a new home where they’ll be paying 6%. If homeowners aren’t moving a significant channel of revenue dries up.
What to do?
- INCREASE WAREHOUSE STORAGE SPACE: We’ve been talking about this for over a year, and many of you have taken our recommendation. Most have no trouble filling the new space either.
- SELF-STORAGE UNITS & CONTAINERS: These fill up immediately and they are economical to run.
- MOBILE CONTAINERS: Are you a COWs franchisee, or doing something similar? These provide a lot of opportunities.
- OVERHEAD: It’s low compared to moving and it’s mainly upfront.
- RECURRING REVENUE: This is not a “one and done” customer. Many are very long-term. Great way to weather the slower times.
- LOW PERSONNEL COST: You don’t need a big team, in fact, you need no new hires if your current staff can fill in.
We have very few clients with much space available. Many are full. We don’t see much saturation yet either. This is a nice hedge against a downturn if, in fact, one does materialize.
Onward and upward!