The lockdowns and continuous closure of workplaces and co-working spaces have led to work from home become a new reality as employees that came here to stay at residences in the city have moved back to their home city/town. However, uncertain of when the professionals are likely to return to Hyderabad, a new business opportunity has come up for people with a hard time having no rent.
Storage Facilities have been the growing business as the employees who are not likely to return to the city anytime soon but have a truckload of furniture and home stuff that needs maintenance and storage. The Hyderabadi market sees people doing a business out of this with rates starting from 3000/- and extra facilities like insurance cover, cleaning up and reports. The price of the storage of the household stuff they left here is just a part of the rent they would pay if they were here.
Apart from the people whose temporary residence is in the city, this business offers storage options to small businesses and restaurants that had to shut down due to the pandemic but found it hard to store their equipment. Stownest Storage, a startup from Bangalore, has grown, providing the same facility in Karnataka and has started renting out storage spaces in Hyderabad.
Many such startups started with small storage places but moved to huge locations and storehouses as big as 1 Lakh sq. ft. These storage providers are keen on running this business with more growth because many employees are not keen on returning and seeing work from home, and paying just a fraction to store stuff safely seems a better option.