YOUNGSVILLE -- Storage may not be a sexy business, but investors felt a strong enough attraction to Storage Revolution to front $10 million to the startup.

"It's refreshingly simple, as long as you have the right people," says Jon Rufty, a Wake County builder who is backing Storage Revolution and sits on its board of directors. "You don't have to worry is your product going to become obsolete."

The business model is decidedly low-tech -- take those boxy, seaworthy steel cargo containers and turn them into portable storage units.

Add some windows, air conditioning and paneling, and those containers become moveable offices that can be sold or leased to construction companies, retailers or anyone else in need of temporary space.

Since its launch in January 2001, Storage Revolution's container concept has attracted about $8.5 million through private stock placements, says Bob Brewer, the founder and chief executive.

Brewer says he added about $1.5 million to that by mining his own contacts for financing.

Brewer says revenues hit $1.2 million in the first year. The company lost money, though Brewer wouldn't disclose the amount. He says Storage Revolution is on track to reach profitability this year.

The company has about $3 million left in reserve after amassing an inventory of shipping containers and staffing three locations. A dozen people work at the company's Franklin County headquarters, north of Raleigh, which does business under the name Moveable Cubicle. The company also has operations in Houston and Fort Worth, Texas, bringing its staff to 20.

The company plans to expand into three to six new markets. While Brewer is keeping the locations quiet for now, he says he is scouting one North Carolina city.

To fuel national growth, Storage Revolu-tion will need more cash. Brewer hasn't ruled out another private stock placement this year. "At some point, cash is the limiting factor," Rufty says. "We are growing at a comfortable pace, but not a fast pace" because of the cost of building up a supply of containers.

For inspiration, Brewer looks to a Tempe, Ariz., company called Mobile Mini, a portable storage company that also refurbishes shipping containers. This month, it reported its 20th consecutive record quarter and fifth consecutive record year. The fourth quarter of 2001 was Mobile Mini's best ever in terms of revenue -- up 24 percent from the year prior, to $32 million. Earnings rose 27 percent, to $14.2 million. The company has 36 branches.

Brewer, a former Drug Emporium executive, studied Mobile Mini's rise and relatively small market share and decided to launch Storage Revolution. "I was looking basically for an industry where I felt there was some real upside," he says.