Anyone who has moved homes has encountered the feeling of owning a lot of stuff. And, having to travel a bit of distance to the nearest self storage facility does not help.
Roland Tam and Mike Rosenbaum created an Australian start-up called Spacer, which is addressing the inaccessibility and high costs of the traditional self storage spaces. How it works is it lets people rent other people’s underutilised spaces, thus providing an extra garage, parking space, shed, or backyard.
Spacer as a source of income
There are spaces that are usually overlooked but can actually be a passive source of income. Rosenbaum, who is also a co-founder of the e-commerce site Deals Direct, said that he got the idea from his travels to the Silicon Valley, where he fell in love with how the sharing economy is booming there.
Uber and Airbnb have done extremely well, and Rosenbaum has been looking for something that he could take back to Australia and saw that the next big thing would be in the sharing economy.
Rosenbaum said that in his previous start-up work, he came across self storage services when he transferred to a small office.
He did a research on the market and discovered that traditional self storage was somewhere around a billion-dollar industry in Australia.
More people have been moving to smaller apartments or homes, and they need additional space.
But, where do they store their stuff? Rosenbaum has launched Spacer to address this issue.
The past, present and future of Spacer
Spacer was launched with an initial capital of $1.2 million during October 2015. The services were only available back then in Sydney. Gaining initial traction was difficult during its first few months, since the supply was not keeping up with the demand.
Spacer has since then been launched to Australia’s major capital cities and has helped people capitalize on unused spaces as a secondary form of income, while lowering down the self storage costs.
Spacer hopes to become an international marketplace of space. It already has its eyes set on Asia including Hong Kong, Tokyo and Singapore, where the space is even a bigger issue because of high density.
When looking for self storage in Sydney or in other parts of Australia, surely Spacer can help address this concern.