With many baby boomers eschewing traditional retirement in favor of a career where they can be self-employed, the growing self storage industry provides the perfect opportunity for a low-risk, high-reward investment.
Tulsa, OK (PRWEB) November 30, 2007 -- With many baby boomers eschewing traditional retirement in favor of a career where they can be self-employed, the growing self storage industry provides the perfect opportunity for a low-risk, high-reward investment.
"For boomers with an entrepreneurial itch, getting started in the self storage industry could be the perfect outlet," said Dean Brown, president of American Steel Buildings. "It's an excellent business opportunity that can help them make the most of their post-retirement careers."
According to a 2006 study by the Ewing Marion Kauffman Foundation, people between the ages of 55 and 64 were those most likely to start up a new business. After spending 30 or 40 years in the corporate world, many boomers are ready for a chance to be their own boss while doing something that they love.
The self storage industry is growing right along with the number of baby boomer entrepreneurs. It's been the fastest-growing sector of the United States commercial real estate industry for the past 30 years. In 2006, gross revenues for primary self storage facilities were $22.6 billion - an average of nearly $450,000 per facility.
"With self storage steel buildings, you have your initial costs: land, materials, construction, and so on," Brown said. "Even with all that taken into account, you can pay back your loan in about six years if your self storage facility maintains 80 percent occupancy, which is about average."
Not only do they pay off relatively quickly, says Brown, but after the initial investment, self storage steel buildings have low maintenance. Entrepreneurs would only have to worry about managing themselves and perhaps two or three other people at most, rather than managing a whole host of employees. Plus, self storage is a comparatively secure investment.
"Self storage buildings have about an 8 percent failure rate," said Brown. "That's compared to a failure rate of 53 to 63 percent for other commercial real estate ventures. It's not entirely risk-free, but if you're looking for a good investment, you'd be hard-pressed to find a better one."
For more information about getting started with self storage steel buildings, visit American Steel Buildings online at http://www.gosteelgo.com
About American Steel:
American Steel Buildings designs and distributes quality pre-engineered commercial steel buildings, including mini-storage/self-storage buildings, offices, shops, retail businesses, warehouses, churches and agricultural buildings.
American Steel planted its roots in the heart of America in the 1980s. American Steel offers service and quality products to a growing customer base that now spans the entire United States.
Since its buildings include construction drawings, most smaller buildings can be erected with basic construction knowledge. However, American Steel also offers erection labor services, and all buildings are designed to be compliant with local codes.
Press release provided by Xeal Inc.
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