Storage Locker Business

3 Storage Locker Business Success Stories [2024]

Pat Walls

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Updated: October 6th, 2024

Need a straightforward business with consistent demand? Consider starting a storage locker business.

In simple terms, this involves renting out secure storage spaces to individuals and businesses in need of extra room. From storing personal items during a move to housing business inventory, the use cases are varied, ensuring a steady stream of clientele.

This venture requires careful selection of location, sufficient security measures, and efficient management practices. You'll need to invest in property, construction or renovation of storage units, and marketing efforts to attract tenants.

Despite the initial investment, the recurring revenue from long-term renters can provide a stable income. If you're interested in a tangible, location-based business that meets a persistent need, the storage locker business is worth exploring. Consider it a reliable way to build an enduring enterprise.

In this list, you'll find real-world storage locker business success stories and very profitable examples of starting a storage locker business that makes money.

1. LuggageHero ($1.2M/year)

Jannik Lawaetz, the CEO and Co-Founder of LuggageHero, came up with the idea for his business after experiencing the inconvenience of dragging his luggage around while traveling. His lightbulb moment came when he was stranded outside an Airbnb apartment with his luggage and had to convince a local shop owner to store his bags. Since then, LuggageHero has grown to over 40 locations in major cities across Europe and North America, offering travelers a convenient network of short-term luggage storage options.

How much money it makes: $1.2M/year
How much did it cost to start: $10K
How many people on the team: 12

How We Build A $100K/Month Network Of Short-Term Luggage Storage Options With 40+ Locations

LuggageHero CEO Jannik Lawaetz founded a network of short-term luggage storage options with +40 locations across the world and raised $2.25 million in funding in 2019, with aims to expand to +1800 locations using a POI algorithm, offering customers value and building a reliable team.

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2. The Mobile Locker Co ($408K/year)

Molly, a runner herself, recognized the need for secure and convenient storage options at road races and launched The Mobile Locker Co. after testing the concept for 8 months with a locker trailer. The business has experienced significant growth, expanding from two vehicles in one region to five vehicles in five regions, with year-over-year revenues doubling each year for the past two fiscal years.

How much money it makes: $408K/year
How much did it cost to start: $75K
How many people on the team: 2

Growing A Lockers On Wheels Business to $34k/mo

The Mobile Locker Co is an onsite storage solution for events, which has grown from two to five vehicles in five regions, and experienced year over year revenue doubling for the past two fiscal years while utilizing an e-commerce strategy for selling locker rental sales.

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3. Bounce ($300K/year)

Cody Candee, the CEO and co-founder of Bounce, came up with the idea for his business after experiencing the problem of carrying luggage while traveling and the inconvenience it caused. He wanted to create a solution that would allow people to store their belongings easily and eliminate the burden of carrying them around. After sitting on the idea for three years, Cody launched Bounce with his co-founder Aleks in 2017, and the business quickly gained traction, reaching over $100k of annualized revenue within the first 7 months.

How much money it makes: $300K/year
How many people on the team: 1

How I Turned A $5 Google Ad Into A Million Dollar Startup

Bounce CEO Cody Candee shares his experience co-founding a successful short-term storage marketplace which generated over $100k in annualized revenue within the first seven months of operation, expanding to new cities and offering more options such as delivery.

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Read by 15,671 founders