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Records Storage: Like a Gold Mine

Cary F. McGovern Comments

The records-storage market is unlimited in virtually every self-storage market in the world. How can you tap into this potential gold mine?

Self-storage entrepreneurs in most cities refer to their individual markets as areas within a two- to five-mile radius. Records-storage businesses, on the other hand, generally include entire cities, counties and sometimes even beyond. Regardless of which way you look at it, the business of records storage has barely been tapped when viewed from a self-storage point of view.

Today’s self-storage facilities have a mix of individual and business customers. It is fair to say that facilities average about 75 percent individual renters and 25 percent business clients. Of the latter, most represent small businesses that need extra space for records. It is very common to find law firms, accounting firms, clinics, mortgage companies and other such businesses storing records at a self-storage facility in a casual manner.

Small companies in North America represent more than 50 percent of the business volume in employees and revenue. You likely have hundreds of small businesses in your defined market. This size company typically has the most problems with business records, because of management issues. Simply put: They can’t find a file when they need it.

Records Management

What does records management mean for the business professional? Knowing what you have, where it is, how to find it and when to get rid of it. Sound pretty basic?

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