NXTSTOR- The Next Evolution In Storage
In the last two years, I’ve sent 3,720 emails, written at least 400 Linkedin posts, and moved hundreds of boxes during finals week each year to get to today. Today, we’re embarking on a journey I never thought would be possible as I sat in my dorm room tinkering with an idea to transform my parents’ basement into a way to make money. It has taken mountains of effort and thousands of hours to create something that we think will change the way people interact. Today we’re bringing the NXTSTOR storage app to the world. And if it fails spectacularly, it was entirely worth it in my book. The people we have met along the way, the kind sentiment from the community, and the personal growth we have shared makes the entire process worth its weight in gold and will mean we never actually failed. But I believe strongly that we will succeed. We will grow and alter opinions that fundamentally change the way one process is done, then we will go onward and change others.
So what is NXTSTOR? To put it simply NXTSTOR is a marketplace that connects people with extra space to those that need a place to store things. But to our users it is so so much more- it’s a way for community members to easily interact, it’s a way for homeowners and renters alike to beautify their spaces, and it’s a way for people with a bit of extra space to earn money in an easy and efficient way.
But why did we build NXTSTOR? 11,860,000 families in the US use a self-storage facility each year for everything from storing their outdoor gear to their furniture during a home remodel. To make this even more astonishing, this number actually grows at a rate of 7.7% YOY. The area of self-storage units in the US combined would take up space nearly 2x that of Manhattan (1.7bn Sq. Feet of storage available in the US according to Sparefoot). To me this doesn’t sound green and based on my own experience, the process for renters is brutal. It restricts these 11,000,000 families to a month to month contracts that they have to get renewed yearly (every year prices increase). It forces them to drive miles outside of the city, lugging boxes and furniture. But most importantly it’s expensive! In Manhattan, a 20 square foot unit can be as expensive as $200 a month. At $10 a square foot per month, it’s nearly 5x as expensive per square foot monthly as my apartment!
At NXTSTOR we’re building something that works for everyone. It’s space hosted by your neighbors so it’s incredibly close by. It’s space that’s rented on a prorated basis, so you’re only paying for the time you’re using it. It’s a space that costs anywhere from $0.50-$1.25 per square foot a month. To top it all off it’s hosted by your friendly community members and is all easily done through our app (we’re looking at you millennials, no awkward phone calls anymore). To top it all off we partnered with Frayt to make moving your stuff even easier. With one extra click, you can have your items moved by a Frayt driver to the host’s space. We truly believe that what we’re building is going to be better for the renter.
But how is what we’re building better for our hosts and why now? There are currently more than 7,000,000 Airbnb listings according to the company, these hosts must continually stay on-top of renter communications and provide a charming space. They also have to deal with downturns in the travel industry as we’ve seen with COVID-19. As Forbes reported, 64% of guests have either canceled or intended to cancel their travel plans due to the pandemic. For many hosts, bookings can be seasonal or even slow if they’re in an area that receives little travel. There’s also the added downside of having guests in your home, as we’ve seen time and time again. But what if you never had space to use on AirBnB in the first place? Over 30,000,000 homes in the US have basements, many of which are entirely unlivable but are perfectly functional unused space.
We’re excited to give all those with extra space an opportunity to earn competitive, long-term rentals with their extra space. Storage is an ever-evolving need, it never goes out of style, it never decreases due to economic downturn, and most importantly storage doesn’t rely on people being present in the spaces. This means at NXTSTOR we are able to utilize basements, attics, and garages to store items for renters. Suddenly that extra part of your house you couldn’t utilize can be put to great use and earn you $0.50-$1.2.5 per square foot per month. It’s like having a roommate that never forgets to wash the dishes or leaves the bathroom dirty. NXTSTOR hosts get the benefits of increased visibility on their space, a platform to communicate safely with renters, an easy way to track and exchange earnings, and most importantly a company and community to join that will support them throughout the entire host process and in their interactions with renters.
Below are links to download the app if you’d like to check it out.
We hope that you’ll join us on this journey and share what we’re doing with those close to you. If you have any questions or comments or need help creating a listing, never hesitate to reach out to firstname.lastname@example.org, it’s really me (Brandon) in disguise.