The public storage industry has emerged as a vital component of contemporary living due to the rising number of items that people accumulate. With living spaces shrinking, people need safe and dependable locations to stash their belongings. This industry has experienced exponential growth over the last few decades, with an ever-increasing number of companies diving into the market to meet this rising demand for storage solutions. In this white paper, we will delve into the history of the public storage industry, identify the top 10 storage companies in the United States, highlight why investors find public storage appealing, discuss the various roles hired in this industry, and explain how TalentWoo’s real estate staffing service can help public storage companies expand.
The public storage industry dates back to the 1960s, when the first cutting-edge self-storage facility was established in Texas. It has since expanded tremendously and now boasts more than 50,000 facilities scattered throughout the United States. The industry has adapted to meet consumers’ evolving needs, with storage facilities providing a variety of storage options such as climate-controlled units, drive-up access, RV and boat storage, and many more.
Top 10 Storage Companies in the United States:
- Public Storage: With over 2,500 facilities scattered across the country, Public Storage reigns supreme as the largest storage company in the United States, commanding a market share of about 25%. The company reported a whopping $3.1 billion in revenue in 2021.
- Extra Space Storage: Extra Space Storage operates over 1,900 facilities in 40 states and boasts a market share of about 12%. The company raked in $1.6 billion in revenue in 2021.
- CubeSmart: CubeSmart operates more than 1,200 facilities throughout the United States, with a market share of roughly 6%. The company reported a revenue of $0.9 billion in 2021.
- Life Storage: Life Storage operates over 900 facilities in the United States, with a market share of approximately 4%. The company generated $0.6 billion in revenue in 2021.
- National Storage Affiliates Trust: With over 800 facilities across the United States, National Storage Affiliates Trust claims a market share of around 3%. The company reported a revenue of $0.3 billion in 2021.
- U-Haul: U-Haul is best known for its moving truck rental business, but it also operates over 1,500 storage facilities throughout the United States. The company reported a revenue of $0.4 billion from its storage business in 2021.
- Public Storage Canada: Public Storage Canada has over 200 facilities in Canada and is a subsidiary of Public Storage. The company generated $0.2 billion in revenue in 2021.
- SmartStop Self Storage: SmartStop Self Storage has over 130 facilities throughout the United States, with a market share of about 1%. The company reported a revenue of $0.1 billion in 2021.
- Simply Self Storage: Simply Self Storage operates over 120 facilities in the United States, with a market share of roughly 1%. The company generated $0.1 billion in revenue in 2021.
- StorageMart: StorageMart has over 100 facilities throughout the United States, with a market share of about 1%. The company reported a revenue of $0.1 billion in 2021.
Why Investors Love Public Storage:
The public storage industry has proven to be a resilient and profitable sector for investors. The industry has seen steady growth over the past few decades, with demand for storage solutions increasing as living spaces become smaller. Public storage companies have also been able to maintain high occupancy rates and steady rental rates, making them attractive investments for both institutional and individual investors.
Types of Roles Hired:
Public storage companies hire a range of roles, including facility managers, customer service representatives, sales associates, marketing and advertising professionals, maintenance and repair technicians, and regional managers. These companies are also always seeking professionals with experience in finance, accounting, and data analytics to help manage their financial operations and ensure that their strategies are effective.
TalentWoo is a specialized talent procurement firm that concentrates on the real estate industry. We supply an array of workforce services to public storage firms searching to expand their businesses. Our adept recruiters possess profound proficiency in the domain, and we hold an extensive network of candidates with involvement in a multiplicity of functions, from beginner to executive positions. TalentWoo’s staffing solutions can help public storage firms tackle their hiring needs quickly and productively, with negligible interference to their existing processes and procedures.
At TalentWoo, we exercise a tailored approach to talent acquisition that is personalized to the precise needs of each client. Our recruiters work intimately with our hiring managers and key stakeholders to understand their hiring demands and prioritize the capabilities and expertise required for each position. We then leverage our industry wisdom and strong professional network of candidates to pinpoint the optimal fit for every vacancy. Our process includes sourcing, thorough screening, scrutinizing and interviewing candidates, authenticating their aptitudes and expertise, determining company culture and values fit, and conducting comprehensive background inspections to confirm that they are the accurate match for our clients’ institutions.
Advantages of Partnering with TalentWoo:
Collaborating with TalentWoo offers an array of perks for public storage firms who wish to expand their businesses. Our recruiting services can help clients to save time and money by simplifying their recruitment processes and ensuring that they have access to the most exceptional candidates. Our industry knowledge also allows us to offer our clients valuable insights into market tendencies and best practices, allowing our clients to make the best hires in the most cost-effective way.