One sector that is seeing a major surge in demand right now is the business of RV storage. As more people take to the open road in recreational vehicles, they need a place to store them when not in use.
This has opened up a unique investment opportunity for those with the necessary capital and business acumen. Here’s what you need to know about getting into the RV storage business.
Market Demand for RV Storage
The demand for recreational vehicles (RVs) has been growing steadily over the past few years, and this trend shows no sign of slowing down anytime soon. In fact, according to the Recreational Vehicle Industry Association (RVIA), sales of RVs were up 6 percent from 2016 to 2017, with 362,812 units sold in 2017 alone. With more people buying RVs, there has been an increased demand for places to store them when not in use.
This increase in demand has created a lucrative investment opportunity for those looking to break into the RV storage business. Potential investors should consider their target market – i.e., who are they most likely going to be serving?
Are they targeting full-time travelers or seasonal campers? Knowing this will help inform their investment decisions and guide them on how much space they may need, as well as what amenities they can offer their customers (e.g., power hookups, laundry facilities).
Successful Business Model
A successful RV storage business requires careful planning and execution. It is essential that potential investors research the competition in their area so they can price their services competitively while still making a profit.
They should also pay close attention to local zoning laws and regulations related to storing large vehicles – some areas may have specific restrictions on where RVs can be stored or how long they can be stored for before being moved offsite.
Finally, it is important that investors understand all of the costs associated with running an RV storage business – from insurance costs to employee wages and beyond – so that they can accurately calculate potential profits and losses before investing any money into their venture.
As more people turn to recreational vehicles for weekend getaways or full-time travel options, there’s an ever-increasing demand for places to store these vehicles when not in use — meaning there’s plenty of opportunities out there for savvy investors looking to enter the booming world of RV storage businesses.
By doing their research beforehand and understanding the associated costs and regulations involved with such an endeavor, potential investors can set themselves up for success while reaping financial rewards along the way!