Self Storage India – The Next Chapter
NEW DELHI, January 24, 2022 /PRNewswire/ — Warehousing/storage and logistics infrastructure is the foundation of any strong economy and is currently thriving in India. However, self-storage or personal/small-scale storage solutions are recent entrants to the market and are still finding their place. Self Storage India pioneered the Indian scene, and they laid the foundation stone for their vision by launching their first facility in New Delhi – NCR in 2013. From the outset, the company envisaged an activity that would eventually cover the whole country. Iteratively, this vision has moved closer to realization, with each new expansion of the facilities. The company’s fourth facility, inaugurated today, marks the beginning of a phase of aggressive growth and the rollout of its national expansion plan.
The last two years of the pandemic have seen unprecedented relocations of people and shrinking office space. This situation has increased the need for self-storage at an unprecedented rate. “Our business collapsed during the first lockdown; however, the minute the relaxations came into effect, we saw a 250% increase in demand for our services, and suddenly there were waiting lists in all our facilities”, said the doctor Manjali Khosla, CEO of Self Storage India.
Their latest facility in Dwarka, New Delhi is part of a pipeline of new capacity, meeting ever-increasing demand for their services. This facility has a built-up area of over 27,000 square feet and will offer over 400 guest rooms. It is strategically located next to an upcoming megaproject, the India International Convention & Expo Center (IICC) in Dwarka, New Delhi – one of from Asia largest convention/exhibition center and is only 15 minutes from the international airport. Based on customer feedback they gathered in 2021, this storage facility is offering more “mini storage” units or rooms under 50 square feet. It is also their first facility to offer covered car storage. The company has invested more than RNI 2 crores in the development of new facilities and has installed modern security measures and other risk mitigation measures to provide peace of mind to customers. “We are a customer-centric company, and our latest facility aligns closely with our customers’ needs – geographically and in terms of service offerings. We want our customers to see us as THE one-stop destination for everyone. their home and small business storage requirements,” Khosla adds.
Following this launch, by 2Q 2022, Self Storage India plans to expand its existing Hero Honda Chowk facility in Gurgaon by an additional 400 rooms, moving closer to its overall target of 2000 rooms in delhi – NCR. “The pandemic has made us all realize the value of our living and working spaces – the clutter that was neglected for years has now become inconvenient and every square foot of space in our homes and offices is more valuable than ever.More often than not, people do not wish to get rid of their less used possessions as these still hold emotional or financial value, hence the need for a safe place to store them. , working and studying from home have become a reality for many of us. For our B2C consumers, this means they are looking to maximize the utility of their home. Meanwhile, B2B customers are looking to be more agile in their office spaces.” Khosla succinctly summarizes the factors driving the high demand for self-storage in India.
Samir Khosla, co-founder of Self Storage India said, “In addition to being a socially useful enterprise that enables individuals and businesses to operate more efficiently, self-storage is globally recognized as a mature and resilient investment asset class that consistently outperforms other forms of assets. commercial real estate, despite the ups and downs of economic cycles.While it may seem counterintuitive at first, the essence of this business is very similar to a SaaS/subscription-based business, with predictable rent as flows of revenue at its heart.Anyone looking at our KPIs would find that we track familiar SaaS metrics such as LTV, ARR, NPS, Churn, etc. As we aspire to tap public markets to support the company’s national expansion, we are also working hard to introduce this robust and predictable asset class to the Indian investment landscape.
The global pandemic has entered its third year, and as people have begun to accept a changed lifestyle, the need for a growing self-storage industry is indisputable. Self Storage India recognizes changing socio-cultural trends and cements his location as a market leader, supported by the tailwinds of changing lifestyles and fueled by increased investment. With a service offering that has demonstrated market fit with its customers, it is only a matter of time before the company makes its mark nationally.
The new facility is expected to open on the 21stst January 2022. As a limited-time opening offer, the company is offering a 30% discount on all services at the new site.
About Self Storage India:
Founded in 2013 as a limited liability company, Self Storage India was the first player to introduce the concept of self storage to Indian businesses and consumers. As of 2022, the company is the largest self-storage focused player in the Indian market serving consumers and small businesses. The organization is engaged in the process of acquiring, developing, owning and operating dedicated self-service storage facilities through India. The company is run by a female entrepreneur who built the business with internal capital and broke through the barriers of the glass ceiling and the lack of diversity in the Indian warehousing and logistics space. The company aims to close 2022 with an inventory of 2,000 rooms in the delhi, RCN area only.
Mr. Archit Aggarwal
E-mail: [email protected]
SOURCE Self Storage India