Small self-storage units in a leased shed

Households downsizing or renovating, renters, students, online sellers and small businesses that need dry, secure space for stock or tools.

Monthly rent per unit, with larger units priced higher. Extra income can come from selling boxes and locks, and from insurance referrals if you are authorised to offer them.

• Customer service
• Sales and local marketing
• Organising and record keeping
• Managing a lease and budget

• Council approval for change of use, and building and fire safety rules, which vary by state and council
• Lease terms, since your costs are fixed whether or not units are rented out
• Public liability and property insurance, and clear terms about customers insuring their own goods
• Filling units takes time, so keep enough cash to cover the lease for the first few months

Startup costs are typically around $40,000 to $200,000, depending on the shed or industrial unit, the fit-out, the number of lockable units and the access control and cameras. These are estimates, so get quotes for your own site.

Estimated monthly revenue is typically around $3,000 to $15,000, depending on the size of the facility and how many units are rented. Filling units takes time, and lease costs are fixed, so keep cash to cover the first few months.

Check council approval for change of use, and building and fire safety rules, which vary by state and council. Also check your lease terms, public liability and property insurance, and clear terms about customers insuring their own goods.