Self-storage. Not a sexy industry, like NFTs or influencers or whatever.
But there’s lots of money in it. Neighbor
raised $53 million
this year, after raising $10 million last year, to build a marketplace for it.
That’s whose lunch you’re going to eat by building it yourself with no code.
For an industry worth $40B+, self-storage is sure under the radar. Incumbents are companies like Public Storage
(worth $56B), which makes customers trek to out-of-the-way locations to keep their stuff in nightmarishly bleak storage centers.
Why not let people rent out space in their homes for others to store stuff? And wouldn’t you like to securely store things right down the street, instead of an hour away?
According to Neighbor, some hosts are making $50k+ per year renting on the platform, almost completely passively.
On your platform, you’ll take a cut of that revenue. All you have to do is get your neighborhood on board with your app (which you’ll create within a day).
Disclaimer: If you live in a place where Neighbor already has a big presence, this idea is going to be almost impossible for you. Sorry :/
However, there’s good news. Neighbor is still not everywhere - and they are nonexistent outside the US.
The business relies on local network effects. Customers will use the platform with the most supply near them, all things being equal.
This is your opening. If you can onboard enough supply in your local area, you’ll already have a serious moat.
And in a pandemic, this is one of the only ways to still make money from real estate. Think of all the office buildings sitting empty. Closed-down showrooms and retail stores. Heck, all the garages and basements. You’ll be letting people make passive income on these dormant assets.