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Portable Storage Service business.
The home improvement and renovation industry is booming. Due to this fact, starting a portable storage rental business can put you on the path to financial freedom. Almost all homes that are undergoing renovations have one thing in common: Where do homeowners store furniture and personal belongings while their home is in the midst of the renovation? The solution: 'Portable storage.' I met a very enterprising entrepreneur a few years ago. He realized that there was a need for a portable storage service in his community. Unfortunately his financial situation did not allow him to start this business by way of traditional means of purchasing prebuilt portable storage units, as they cost more than $3,000 each at that time. Here is where the creativity and innovative actions of an entrepreneur can really pay off. His solution was to purchase used one-ton and five-ton truck bodies for about $500 each from a local wrecking yard. Once he had the truck bodies at his home he painted and signed them with his company logo and name, as well as welded two rollers onto the front of each box. Welding the rollers onto the front of the boxes allowed the newly-built portable storage units to be picked up and delivered by a traditional roll-off or winch truck. He contracted out the delivery and pickup of the storage units to a local trucking company. In total he had less than $800 into each portable storage container and was able to charge a premium over the competition because his storage units had almost 50 percent more storage room than traditional portable lockers. At the time of our conversation he had already constructed 12 of these low-cost storage containers and was renting them for $200 each per week. He negotiated a flat fee of $50 to the trucking company for the pickup and delivery of each storage container. Thus he had built a business that had sales in excess of $2,000 per week, from an initial investment of only $10,000. This type of portable storage service is best promoted directly through construction and renovation companies, as they already have contact with the people who will require this service. You may even want to consider a profit-sharing deal with these companies that support and help market your business.