What It Takes to Own A Storage Franchise
While investing in a Go Mini’s franchise is capital intensive, there are financing avenues available for those who fall short of the liquidity and net worth requirements. The Small Business Association, as well as various veterans’ and minority organizations, have programs to help, and your Go Mini’s team is prepared to assist in the research.
The total investment necessary to begin operation of a Go Mini’s franchise ranges from $224,604 to $453,000, which includes:
- Initial franchise fee (begins at $45,000, based on a territory population)
- Initial container purchase
- Secured lot (or warehouse)
- 8 percent royalty and 2 percent marketing fees collected monthly
Ideal franchisee profile: Net worth of $1 million, liquid capital of $100,000, owner/operator mentality, entrepreneurial with a desire to grow multiple territories, vibrant attitude, and good customer service instincts.
Demand for Portable Storage Continues to Grow
The U.S. housing forecast is looking good for 2020 and into the future. With the health of the housing market affecting the general demand for portable storage, all indicators point to continued growth.
Add to that the home renovations or the occasional emergency (such as fire, flood, or storm damage) and homeowners are constantly searching for convenient, flexible, portable storage solutions. Long story short, the demand for Go Mini’s can be big business.