The self-storage industry was one of the few to come out from the 2008 recession relatively unscathed. Fast-forward twelve years, and in another period of economic and societal instability thanks to the Coronavirus, the industry looks to be mirroring its previous performance all those years ago. Self-storage companies the nation over have been reporting new clients coming through their doors (metaphorically speaking) and enquiring about self-storage precisely because of COVID-19. The team here at Store That E14, trusted storage providers in the heart of the capital, wanted to discuss in a little more detail about the current state of the industry.

Self-Storage Caters For Uncertainty Rather Than Absolutes

One of the reasons that rental self-storage is so attractive, especially in times like these, is that people don’t know what the next couple of years hold for them, one way or another. For business owners, that overused phrase ‘unprecedented’ holds very real implications because it’s currently incredibly hard to forecast with any certainty how the situation will develop, and how that will consequently play out for their company. If they sell their business equipment and the market subsequently picks back up, then they’re stuck up a paddle without a creek. If, by contrast, they decide to hedge their bets and wait the situation out by using rental self-storage units to store their equipment, then they’ve still got it ready to come back with.

Moving Properties, A Sad Reality

One of the more affecting consequences of the pandemic is no doubt the number of people who will no longer be able to afford their monthly rent or their mortgage repayments and will need to find somewhere smaller to live, or in many cases, to move back in with their families which many younger people are having to do. This evidently creates a need for storage. As we’ve established in our previous blogs, downsizing (voluntary or otherwise) brings with it the problem of too much stuff for not enough space. Again, however, with any luck (and all our fingers and toes are crossed here at Store That E14) this relocation enforced by changes to personal financial situations will only be temporary. When the pandemic has passed and people are able to return to work or, in some cases, find new jobs, they’ll once again be able to find somewhere more akin to where they previously were, space wise. Until then, we’ll happily keep your belongings safe and secure.

Seasonal Event Workers

There’s a vast swathe of companies out there who will have been relying on the summer festival season to make their year’s money. Other businesses will have been reliant on the good weather for their outdoor activity services. The seasonal tourism and festival industries have been hit as hard as any. Food trucks, mountain bike hires, pop-up stalls and county fairs are just a handful of those whose income has been decimated by the virus. Their equipment, which may have already been in storage for the winter months, will almost certainly have to stay there a fair bit longer yet. Store That E14 are keen to help out people where we can, we understand, after all, just what a nightmarish situation this is for so many people. 

With a hazy fog of uncertainty still lingering over the pandemic situation, there’s never been such a need for the ultimate stop gap that self-storage helps provide both businesses and personal customers, alike. So, if you’d like to find out more about our secure self-storage in E14, then get in touch! Contact Store That today on 020 7