Part
01
of one
Part
01
Please teach me why self-storage companies (MakeSpace, Clutter, and Red Bin) are successful in US.
Hello! Thanks for your question about the success of MakeSpace, Clutter and Red Bin in the self-storage market. The short version is that all the three companies have similar business models that leverage technology to provide convenience, flexibility and competitive pricing over traditional players in the market. Of the three companies, Red Bin and Clutter offer greater flexibility with the minimum storage period at one month as opposed to MakeSpace's three month period. Below you will find a deep dive of my findings.
METHODOLOGY
To complete this request, I reviewed the following information sources: Corporate websites, Trusted media sites, User forums and review sites. I examined the competitive advantage of the 3 companies relative to traditional self-storage companies and peer startup companies. Red Bin had the least media mentions of the 3 companies and as a result, much of the information on the company was based on the information available on the website.
FINDINGS
Notably, all the 3 companies have nearly similar business models. They all leverage technology and offer on-demand storage. Due to this, they provide an edge over traditional companies in the field in terms of convenience, flexibility and pricing. As requested, I compiled my findings on a spreadsheet to provide an overview of each company's competitive edge. The link to the spreadsheet is: https://docs.google.com/spreadsheets/d/1PoCx231i7e8MfaA2hCBmyLrJVVgyJ69x3sqILIE4O-U/edit?usp=sharing
CONCLUSION
To wrap it up, MakeSpace, Clutter and Red Bin have similar business models that leverage technology to provide convenience, flexibility and competitive pricing over traditional players in the market. Of the three companies, Red Bin and Clutter offer greater flexibility with the minimum storage period at one month as opposed to MakeSpace's three month period. MakeSpace is the only company, of the three, that provides a free basic cover to protect the customer's stored items. As requested, I compiled my findings on this spreadsheet: https://docs.google.com/spreadsheets/d/1PoCx231i7e8MfaA2hCBmyLrJVVgyJ69x3sqILIE4O-U/edit?usp=sharing
Thanks for using Wonder! Please let us know if we can help with anything else!