What Is Stuf?
Stuf is a startup focused specifically on taking non-traditional spaces and transforming them into storage facilities for individual consumers. They achieve this by connecting with landlords in areas closer to where residents live where they would then renovate the space into storage and provide the landlord with a portion of the revenue generated from the space.
Part of that conversion process includes designing the storage spaces to be more inviting and homey, as a part of being more appealing to younger, more modern audiences, in particular, millennial women living in these major cities. For these consumers, the process for storage is extremely seamless. As a consumer, one can simply book online, bring their belongings to the storage facility, and that is the entire process. The current pricing is comparable to normal storage services at $172.51 per month for a 10×6 foot space and $43 for a 5×3 space. While the startup is still rather small in application, clear results already prove the concept to be successful.
Stuf is currently active or soon-to-be active in two locations. The first of which is in San Francisco and the second of which is in Brooklyn. For the already active location in San Francisco, the storage space reached an incredible 90% capacity over the course of three short months. For the landlords that have provided this space for Stuf, the results look equally lucrative. In fact, Stuf is on track to distribute between $15 to $18 per square foot back to the landlords, making this extremely beneficial, especially considering that the spaces Stuf uses are usually deemed to be unsellable or undesirable for other uses. This has garnered interest from a variety of investors, especially as Stuf continues to have major plans for the future.
Stuf’s Seed Funding and Plans for the Future
In Stuf’s seed funding round, the startup raised a respectable $1.8 million. The funding round was led by Wilshire Lane Partners and Harlem Capital. This infusion of capital for Stuf will help the startup support a series of extremely lofty goals that co-founder and CEO Katharin Lau has set for it. Of these lofty goals, perhaps the most concrete is Stuf’s plan to launch over 100,000 square feet of storage across the United States through 2021. On top of that, Stuf is currently developing an app that will be released to the public soon with intentions for users to be able to then monitor and book storage facilities from the convenience of their mobile devices.
The startup’s goals are extremely high, considering that Stuf is only operating in two locations so far. However, with the new infusion of seed funding and how well the business is currently going, there are clear paths to success for Stuf moving forward.
Stuf is a fascinating startup that has significant potential in large metropolitan areas. With public storage spaces being more difficult to come across in close proximity to where so many people live, finding niche spaces from landlords for public storage seems to fill a very specific demand. The additional seed funding, major plans for expansion, and development of an app, place Stuf in a position to easily become not only profitable but extremely successful as the startup continues to grow.
About the Author
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.