Mini-storage offers recurring revenue, high margins, and low labor risk
Pete Warhurst · PODS & Red Rover: Pete Warhurst · May 9, 2022 · at 23:07
PODS and Red Rover founder Pete Warhurst explains why he decided to enter the self-storage business after selling his 911 software company.
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“Well, the number one thing is that you only need one or two employees. So I thought, okay, that's a lot better than what it came from, right? So having one or two employees it was a recurring revenue. You know, you didn't have one key Customer. You had 500 customers, so if you lost, you know, five or 10 of them in a week, it's no big deal. You replace them, and you know, it was a high return. I mean, the margins were good”
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