How To Keep Hollis Furniture Storage Rates Low

Hollis is a predominant African American community located in the New York City. Safekeeping houses are gaining rapid popularity throughout the United States of America and Hollis is no exception. In recent years, many new Hollis furniture storage facilities have opened in this neighborhood. This has also resulted in increased competition. The market here is very competitive. If you are planning to start a new storing house in the southeastern section of the New York City borough of Queens, you have to be well prepared and have business strategies. Considering the consequences of global recession and the fact that prices are rising, the most important thing for you is to know how to determine a rate that offers you a healthy profit margin but is still very competitive. Following are some of the crucial factors that you have to consider in this regard.

Look At The Rates Your Competitors Are Charging   

When it comes to determining a competitive rate for your Hollis furniture storage units, the first thing that you have to do is to find out how much your competitors are charging for each of their services. Since you are new to the industry, you will have to offer good services at a low price – only then you will be able to attract new customers. There are many online journals that will keep you updated about the current prices in the market. Another idea is visits the official website of safekeeping houses, or even better, sign up for their newsletters. This way, you can easily get some valuable information you need.

Consider Your Own Expenses

Next, you have to consider how much the Hollis furniture storage units are costing you. For example, you might be using the storehouse building on lease. Likewise, you definitely cannot handle everything on your own. So, you also need to employ some professional people to take care of your customers needs, such as a site manager, security booth professionals, and others. The more employees you hire the higher amount you will have to pay as remuneration. Likewise, you might also have to spend a lot of money on the maintenance of the building and security arrangements. You will have to consider all these costs while you are determining the rent.

Charge Extra Without Making Your Customers Unhappy

Most Hollis furniture storage facilities do not offer 24X7 access to their customers. They are also closed during weekends and holidays. So, if you make a little effort, you can easily get an edge over your competitors by offering them such conveniences at a small price. The customers will not mind paying a little extra amount for such benefits.

Obviously, the rates will obviously vary from one unit to another depending upon an array of factors, such as their size and the security features they are equipped with. As per the latest records published in local safekeeping journals, the monthly rent charged for a 20×20 unit is around USD 180. USD 130 is the monthly charges for a 10×15 unit and USD100 per month for a 10×10 unit. However, these are just indicative figures. You must do a research on your own to find the actual rates the Hollis furniture storage facilities are charging. Do not try to keep a wide profit margin in the beginning. Try to keep the prices very low while still enjoying a healthy margin. If you succeed in maintaining good occupancy rates, the overall profit will definitely be a big amount.

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Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.

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