5 Factors to Consider When Buying and Moving a Storage Franchise

February 1, 2023

Buying a moving and storage franchise can be a lucrative and rewarding business opportunity for those looking to become their own boss. With the rise of the gig economy and the increasing demand for convenient and affordable storage solutions, the moving and storage industry has seen significant growth in recent years. However, as with any business venture, there are a few important factors to consider before buying and moving a storage franchise.

Research the industry and franchise options

Before committing to a moving and storage franchise, it’s essential to do your research. Start by researching the moving and storage industry as a whole, including market trends, competition, and customer needs. Look for franchise options that align with your goals, values, and budget, and review their franchise agreements and terms carefully.

Understand the franchise agreement

Franchise agreements can vary greatly, and it’s important to understand the terms before signing on the dotted line. Some key factors to consider include the franchise fees, royalty payments, marketing and advertising support, training and support, and restrictions on business operations.

Consider the initial investment and ongoing costs

Starting a moving and storage franchise can require a significant initial investment, including franchise fees, equipment, inventory, and marketing expenses. It’s important to understand these costs and ensure that you have the financial resources to cover them. Additionally, ongoing expenses such as rent, utilities, insurance, and payroll should also be factored into your budget.

Assess the franchise’s support and training programs

A reputable franchise should offer comprehensive training and support programs to help you succeed. Look for a franchise that provides initial training on business operations, marketing, and customer service, as well as ongoing support and resources. Ask for references from current franchisees to get a better understanding of the level of support provided.

Evaluate the potential for growth and profitability

While starting a moving and storage franchise can be a significant investment, it can also be a profitable one if managed properly. Consider the potential for growth in your local market, as well as the demand for storage solutions in your area. Look for a franchise with a proven track record of success and a strong brand reputation.

Buying a moving and storage franchise can be a rewarding and profitable business opportunity. However, it’s important to do your due diligence and carefully evaluate the franchise options available. By researching the industry, understanding the franchise agreement, assessing costs and support programs, and evaluating growth potential, you can make an informed decision and set yourself up for success.

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