III. Industry Analysis
The self storage industry will increase to $25 billion over the next five years. Demand for industry services has benefited from an increase in per capita disposable income. Industry operators generally have low overhead costs, limited staff, few utilities and low maintenance costs, all of which contribute to substantial profitability (measured as earnings before interest and taxes).
Many major population centers have begun to reach market saturation, so operators will likely branch out into different regions to seek growth opportunities. Competition in metropolitan areas is already intense and is anticipated to heighten in other areas as different companies seek to expand into similar markets.