The Demand for Portable Storage
Substantial & Growing Desire for Go Mini’s Products
When you’re deciding on opening your own business, one of the first questions you should probably ask yourself is what the demand is for the product you are selling. If there isn’t much demand, you’ll most likely encounter problems right out of the gate. At Go Mini’s, we offer both a product and a service whose demand is not only high, but continually increasing. With the health of the housing market affecting the general demand for portable storage, all indicators point to continued robust activity.
After the economic crisis of 2008, the housing market stayed flat for two years. Then, in 2011, sales of existing homes began to improve, quickly returning to pre-2008 levels and now exceeding those numbers by more than 20 percent. According to an industry study by IBISWorld, revenue will continue on that pace, growing by 4.6 percent per year to reach $9.3 billion annually by 2020.
- $7.4B Annual Revenue 2015
- 3.2% Annual Growth 2010-15
- 4.6% Projected Annual Growth 2015-20
- $9.3B Projected Annual Revenue 2020
The Robust Commercial Market
According to the same IBISWorld market study, commercial markets account for 16.4 percent of the industry’s revenue. In fact, construction, retail, and industrial accounts combined make up the largest source of demand in the portable storage industry.
The economy is rebounding and commercial vacancies are on the decline. Retail services are increasing inventory, and the construction industry is continuing to add projects. These are all great signs for the future of the portable storage industry, and Go Mini’s will be right there to capitalize on this growth.
The portable storage unit industry is actually quite a young one. That provides additional benefits for prospective franchisees, as there is a tremendous opportunity for growth. The top four storage container companies account for only 17.7 percent of the market, and of that, the biggest company accounts for about 8 percent of that revenue. This means one thing: incredible potential for new owners.
Take advantage of this growth potential see if there is an available territory near you