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Out & AboutTwo Locals Solving Parking CongestionBY SPACER SELF STORAGEFor many Sydney commuters parking options arescarce and inconvenient, particularly around stations on the North Shore.Shrinking living spaces anda rapidly growing urban population means that ourcities are becoming severely overcrowded. Space is expensive and becoming more so, and asit does, so too does the cost of metropolitan storage space.A new start-up has emergedto disrupt the industry and significantly reduce storage costs. Two North Shore entrepreneurs have teamed together to build online service, Spacer.com.au.Both founders have successful track records in establishing start- ups and venture capital. Mike Rosenbaum is a tech nerd and co- founder of Auction Brokers and Deals Direct, before selling the business to Grays Online. Roland Tam has completed in excess of $200m worth of private equity and M&A transactions.Spacer is an online marketplace for storage space. The business connects hosts (people witha garage, yard or room) with renters looking for affordable, convenient and accessible storage options. Being a peer-to- peer service, storage costs are up to 50% cheaper than traditional storage solutions and Spacer manages the vetting of all renters, payments and property guarantees on behalf of all users. Spacer Hosts (typically empty nesters or young families) make on average $3,000 per year,16 LIVING LOCAL SPRING 2016simply by renting out their unused single lock-up garage space for storage.Traditional self-storage brands (Kennards, Storage King) dominate the storage landscape and gorge off the lack of options available for consumers. Common complaints include high costs and extra charges for insurance, lock-in contracts for minimum periods, inconvenient locations, and inconvenient access within facilities.The traditional self-storage market is worth $1 billion as an industry but what is called the grey market – parents storing their kids’ goods in their garages – is worth an additional $5b. Peer-to-peer self-storage provides the convenience of a locationin your local neighbourhood.It is a relatively new concept in Australia, however in Europe there are now thousands of people sharing space. It follows in the footsteps of Uber and Airbnb in the rising tsunami that is collaborative consumption. Initially sceptical about renting out her garage, Lindfield resident Kylie was convincedby testimonials and Spacer’s thorough vetting process, as well as the fact that she could acceptor reject renters on her terms. "My space is my sanctuary and I didn’t just want any stranger storing stuff in it. But looking at the website and understanding that I was in control gave me confidence to try it out, and I couldn’t be happier."Kylie now rents out her lockup security garage to a fellow North Shore resident for $220 per month, who uses it to store personal items and supplies.The garage is centrally located and with full secure and remote access the renter can access equipment as they need."The extra income is handy, but best of all, I know my unused space is being used for a social purpose and that absolutely delights me."Spacer.com.au launched in September 2015, raising $1.3m for seed and angel investors. Since then the business has grown remarkably, havingjust hit over 1,500 listingsacross Australia, proving the sustainability of the model."We are delighted with the initial uptake and market response," says Rosenbaum, "our focus at present is building up the number of hosts we have on-board to ensure we can meet demand."“Dream, Inspire, Grow”www.livinglocalguide.com.au