The idea of versatile self-storage providers isn’t new in Malaysia. In truth, we’ve beforehand written about Flexi Storage and Storage Bloc inside the previous 5 years, with lots extra gamers in the market.
However, Mrithula Shiva (Mri), the common supervisor of Cube Self Storage (Cube), instructed Vulcan Post that this provide caters to the rising demand, as identified above. “According to the 2020 Self-Storage Association Asia Annual Survey, industry players in Asia experienced an average of 80% average occupancy, compared to 70% the year before,” she stated.
Cube itself joined our self-storage trade fairly not too long ago after increasing from the UK to Malaysia in 2018, but what’s driving this demand for self-storage?
One Size Doesn’t Fit All
Mri defined that this progress in the shopper section was as a consequence of excessive actual property costs and the altering city life-style as of late. “Not everyone can afford to buy a new home as their family grows, so storage space is a good alternative, especially for condo dwellers,” she defined.
Expats and frequent travellers are one other rising market, since they need house to retailer their luggages, winter clothes, further furnishings, and so forth. “We had a couple [pre-pandemic] who put all their furniture in storage and decided to live nomadically, traveling from one island to another, working from their laptops,” Mri recalled.
And as the majority of individuals labored from dwelling throughout the pandemic, workspace consolation grew to become a high precedence. Since Cube’s storage choices are out there on a month-to-month foundation, a lot of their clients selected to maneuver the objects they didn’t actually need into storage as a momentary answer.
I imply, how many people have tried KonMari-ing our houses or offices in the previous 12 months? There are apparent objects that belong in the discard pile, but it’s tougher to half with sentimental objects like previous books and letters that still spark pleasure regardless of having no shelf house left for them.
The idea of self-storage is just like renting a room, but as a substitute, you’d be selecting a locker or warehouse that matches your storage wants. If you’re uncertain of how a lot sq. footage you’d need, Cube’s Storage Calculator helps you to drag and drop objects you’re seeking to stash away, like a complete couch or pc desk, doing the pondering for you.
You might additionally begin by renting a smaller storage house first, then adjusting as you see match. ENYA’s founder, Elaine Hong, did so along with her sanitary pad on-line enterprise, the place she’d up- and downsized her storage house in accordance with her inventory ranges. Thus, she saved prices lean and solely used the house she wanted.
That’s one other instance of how storage services like Cube’s additionally profit the B2B section, particularly for e-commerce sellers. It saves startups from excessive rental prices which in flip may also help them scale their profitably faster.
This is as a result of companies received’t should lease a complete workplace house throughout a time the place most of us are required to WFH. And they’re pushing their providers even additional by coupling their storage models with a coworking house to cater to our ever-growing e-commerce trade.
Marrying Storage And Coworking
Let’s face it, ever since the pandemic started, most of us have left our workplace areas dormant, but still pay its month-to-month lease. Now dwelling to mud bunnies, expired pantry snacks, and barely working aircons, you’ll be able to’t precisely do away with the house both since you still need it for storing tools, and never many people have further house at dwelling for them.
Recognising such ache factors of SMEs, Cube is launching the Cube Co-Working house that lets small groups work flexibly and retailer their paperwork, furnishings, or merchandise of their storage models.
“We believe there is an unserved need in coworking, especially for e-commerce startups. In a typical scenario, they would need storage solutions for their merchandise and a separate coworking space for their team,” stated Mri. She additional added that Cube Co-Working might be in the similar facility as their storage models, but in separate areas.
As the coworking house is already crowded in Malaysia, Cube is selecting to focus on e-commerce companies for now as they’re already geared up with logistics sources. Namely, loading bays, cargo lifts, and free lined parking at their facility.
These are Cube’s standout components which Mri claimed are not provided by typical coworking areas regionally but. Cube Co-Working is presently providing 3 packages for his or her delicate launch (45% early chicken low cost):
- RM39 for Cube Nomad (day-pass for 1 pax) that comes with a 10% low cost on storage models
- RM159/pax/month for Cube Desk (fastened desks for 1-3 pax) that comes with a 20% low cost on storage models
- RM249/pax/month for Cube Suite (devoted room for 4-10 pax) that comes with a 30% low cost on storage models
If Cube Co-Working takes off, Mri is anticipating the house to be absolutely occupied inside a few months. “We don’t have any revenue goals to share at the moment, as we want to focus on perfecting the Cube Co-Working product and fulfilling our customers’ needs,” said Mri.
- You can study extra about Cube Self Storage right here.
- You can examine different Malaysian startups right here.
Featured Image Credit: Cube Self Storage