The State of Self Storage June 2015 – New & Old
Its been an incredible spring. The basics are the same but the are always new ideas, strategies, technologies and marketing that must be considered.
The Spring ISS conference was a huge success for everyone who attended. Here is one Q/A on customer service presentation I gave: http://www.
If you would like me to email you the slides from my ISS presentation on “Common Self Storage Construction Mistakes you do not want to make.” just send me an email at marc@storageAuthority.com
Also please feel free to email me if you have any construction questions. And if you are looking for prequalified vendors to help with your construction project send me an email and I will tell you who we use. You won’t won’t to miss my article this summer in ISS magazine on developing a construction budget!
We just soft launched Storage Authority Franchising last month. Here is a link to an article by Sparefoot about our and your future. http://news.sparefoot.com/1323-storage-authority-plots-growth-strategy If you are looking for the most profitable way to get started in self storage or are looking for the extra rocket propellant to make huge profits for your existing facility, check out our web site and send me an email and let me know when we can talk. Become one of our Founders Club members in the next 90 days for extraordinary additional benefits! www.StorageAuthorityFranchise.
Technology is expanding everyday. Here is a “hot self storage market map” based upon tons of data from a new beta site by Paul Dacus.
It won’t be long before you can give your address and in no time you will have a mini table top feasibility study. He is already predicting:
LA is the best major Area for self storage, at 4.72 of relatable sf/per person, it is less than the average of the top markets at 6.5sf/person. And Dallas is the worst place for self storage being over built at 7.88 sf rentable space/person.
Until Illustorage is available send me an email and I can give you a couple of very inexpensive ideas to get your initial table top feasibility review done.
I keep hearing managers say the best way to rent is in person and in fact that is how they rent most of their units. Please Please check with your managers to see if this is the case. This is what the renters want:
Learn how to rent on the phone & on line! It is critical for your future success to perfect both of these rental options.
Here is a chart from one of the speakers at the ISS conference.
Here are three simple marketing ideas from my book Crush The Competition that will make you money day after day. But you have to require your managers do them without exception.
1) Week 57 – Five Questions To Ask Every Potential Renter To Rent More Spaces. A simple chapter I guarantee will make your thousands of dollars a year. Most managers know these questions but based upon experience most only ask a couple of these critical questions.
2) Week 59 – Visitors to Renters – Take Them for a walk to educate, Make A Friend, Establish Rapport and overcome objections. A chapter on that teaches a manger how to rent a unit.
3) Week 101- Ask for the Sale….Again! A chapter full of ideas on how to close more sales.
It is sad to realize that so much time and money is spent to get potential customers in the door and in front of our managers and yet, so many do not rent for one simple reason: the manager did not ask them if they wanted to rent.
If is is so simple why are most facilities and your mangers not following good sales & marketing practices? Simple, no one is training them and ever if they are half trained no one is requiring them to follow the basic rental steps. This is why there is an army of clerks or order takes running our facilities vs. managers and sales experts. This is where Storage Authority makes a huge difference, we teach, we train and we provide written how too manuals. Not only do we require its done right but we confirm its done right. We make being an owner & manager more fun and profitable.
So why is this section called banking? Because bankers know the value of franchising is the franchise provides expertise and systems that help insure the problems noted above will not happen and franchises will reach profitability much faster and at a higher level. (of course they also love the branding aspect of franchising) That is why it is so much easier to get a loan for a restaurant franchise or hotel franchise than Joe’s Motel.
Storage Authority is presently working with banks that understand both the value of franchising and the SBA program to reduce our frachisees loan costs, restrictions, down payments etc to get a loan. In case you did not hear Storage Authority franchising is now an approved by the SBA, a huge win for our franchisees.
ps As always have a question – send me an email and I will be happy to reply.