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Anyone who has traveled abroad for a long time knows this problem. The apartment was terminated and the house was vacated. Things now need to be stowed away until we return from abroad. If no one in your family or circle of friends has room for items, self-storage is a solution.
Today there are approximately 50 commercial warehouses in Switzerland and the number is constantly increasing. Market leader Zebrabox operates eight locations and plans to open up to six more in the next few years. Location B is also growing rapidly: the young Zurich-based company wants to expand its network of seven branches to include ten branches in the next six months. Another competitor, Mybox, plans to expand its six existing locations.
Many different offers
At least a dozen other companies rent storage space in this country. There are many smaller providers with a single location; For example, many moving companies have explored self-storage as a side hustle to utilize their space. Services vary widely. In some locations, customers only have access to an unheated hall in an industrial zone; Other companies offer extended service in the city centre.
Despite many new offers, self-storage is still a niche business in Switzerland. There is 0.6 square meters of leasable area per 100 people. In Great Britain or the Netherlands, values are almost ten times higher at around 5 square metres, according to the European self-storage association Fedessa. Almost 85 square meters in the USA; About eight percent of the population there rents storage space outside its own four walls.
Self storage isn’t cheap
Commercial storage is unlikely to be that popular in this country; Distances in Switzerland are very short and the population is relatively sedentary. Unlike the USA, many houses also have basements. In addition, self-storage is relatively expensive in Switzerland: UBS bank estimated last year that the average monthly rent was a good 30 francs per square meter.
However, demand is also increasing in Switzerland. The population is increasing and more and more living space is needed. There is often not enough space to store your belongings in the attic or basement. People are also changing jobs, partners or places of residence more frequently than before. These are situations where self-storage can become practical.
Advertising influence through US television series
The business also has potential because many Swiss people have not yet entertained the idea of renting storage space. “Self-storage is still little known by the public,” believes Christian Streit, founder of market leader Zebrabox. Schlitz says his company advertises heavily to customers, but most of its competitors do little marketing.
The industry has received a small advertising boost thanks to the popular US television series “Storage Wars”: In the show, participants try to auction off items in warehouses with unpaid rent at as high a price as possible.
Growth outside the centers
Today there is a wide variety of self-storage options, especially in and around major cities such as Zurich, Lausanne, Geneva, Basel and Bern. Now companies like Zebrabox and Place B are expanding beyond these centers and creating competition. Zebrabox boss Dirt believes not all providers will survive in the long run. “There will be a clean-up. Anyone who does not have a well-positioned position will come under pressure,” he says.
However, the self-storage business still offers room for growth: A UBS study last year estimated that the Swiss market could tolerate up to 30 additional locations.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
