How to Earn Additional Income for Your Self Storage Facility with Truck Rentals

How to Earn Additional Income for Your Self Storage Facility with Truck Rentals

By: Jodi Reid
Adding on extra services to a self storage facility is a sure way to generate extra income. It can also put your self storage facility ahead of the competition. Nearly everyone moving items into self storage will need a truck at some point and customers will find it much more convenient to conduct all their self storage related business in one place.

There are primarily two alternatives involved in truck rental – one-way moves and local moves. One-way moves are offered as an option for customers who will be moving a great distance. In this case, the truck is picked up from one location and returned to another destination. As a self storage operator, you can charge a commission on each rental. Local moves offer the opportunity for a creative branding strategy since you can put the name of your self storage facility on these trucks. Local moving trucks are often offered for free but you can choose the option that would work best for your business.

Providing a free truck for local moves does not mean that your business will not get any income from this venture. You will still be able to charge for mileage and gas. Most customers will not mind these fees since the overall total will be less than paying to rent a truck elsewhere. Renting directly from the self storage facility is also more convenient. Additional income can also be generated by limiting the time a tenant is able to use the truck and then charging a fee for each additional hour.

The marketing opportunity in providing truck rental is invaluable. Your self storage business will essentially receive free advertising since customers will be driving around the locality with the name of your business on the truck. Consider tying in the free truck rental with a loyalty or referral program to bring even more people into your business.

Before implementing truck rentals or anything other major change in your overall marketing strategy, conduct a cost analysis to estimate the real value this will add to your self storage business. For smaller companies, the upfront cost of undertaking this system might be greater than the potential income earnings so it would be wise to do research so you have an idea of the figures beforehand.