Why & How To Get Started In Self Storage Today.

 

The Top 7 – Why Self Storage Now?

1. There Has Never Been A Better Time To Get Started.

2. Extremely  Profitable – 30% Plus Returns Vs. 0-10% Returns For Other Real Estate Development Like Apartments Or Hotels.  Self Storage Not Only Provides Present Day Income But It Also Provides Retirement Income.

3. Abundance of Financing Options With Equity Requirements As Low As 10%.

4. Significant New Construction Is Required To Meet Pent Up and Surging Demand.

5. Owner Life Style – Replace Your Income With A Manger Driven Self Storage Business With Automation: Franchising; Kiosks; Web Based Automation.

6.  No Painting, No Backed Up Toilets, No Midnight Calls And Just A Couple Of Employees.

7. Storage Authority Franchising Is Ready To Provide You The How To Knowledge And Help You Need Get Off To A Fast Start.  And Provide You The Systems And Experience That Will Make A Difference.

 

Why New Construction Vs Buying Existing Facilities.

1. Be Closer To Home.  There Are Very Limited Quality Facilities Presently For Sale.  As A Facility Owner I Get Unsolicited Request At Least Twice a Month If I want To Sell From Buyers Who Have The Cash To Buy Now.

2. Better Locations.   “Build It and They Will Come” is a thing of the past.  NOW “Build It in The Right Location And Market it and They Will Come”.

3. Many Existing Facilities Over Priced Due To Bidding Wars And REITs Paying New Record Prices Every Month.

3. Buy 3 Million – Build $2 Million  = More Equity And More Profits
.

4. New Facilities Can Be Developed For 1/3 The Equity Requirements Of Buying.

5. You Reap The Rewards Of Your Efforts Vs. Paying  A Premium For Others Efforts.

 

Question: What Does It Take To Get Started in Self Storage? 

 Answer:  http://www.StorageAuthoriyFranchise.com   Or

Three out of the following Four of the following items.

1 Time

2. Experience

3. Money

4. Web Based Platform For Branding, Rental And Operational Systems.

With Storage Authority on your side you will have the Experience and Web Based Platform.  And we will help reduce both the time and money you will need to be successful.

Check Out http://www.StorageAuthorityFranchise.com To Learn How You Can Get Started Today.

Or Contact Storage Authority Co Founder Marc Goodin directly at marc@StorageAuthority.com or 860-830-6764.

Note:  This is not a solicitation for Storage Authority Franchise.  Offerings can only be thought the Storage Authority Federal Disclosure Documents available via the Storage Authority Franchise web site.

 

The State Of Self Storage June 2015 – new & old

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.

Marc Goodin at the ISS Spring Conference

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.insideselfstorage.com/videos.aspx
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

Self Storage Construction is on the rise!

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.com
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.

Self Storage Hot Spots!

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.
BANKING:
Here is a chart from one of the speakers at the ISS conference.

We hope our managers are doing better - but are they??

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.
Cheers
Marc
ps As always have a question – send me an email and I will be happy to reply.
Marc Goodin 
 

Storage Authority
101 NE Third Ave. Suite 1500
Fort Lauderdale FL 33301
Marc@StorageAuthority.com
1-844-33-STORE
Direct: 860-830-6764
www.StorageAuthorityFranchise.com   We’re BIG on Your Success!
 www.Facebook.com/StorageAuthority  If you love to read the latest in self storage.

 

 

Its Official! Storage Authority Franchise Press Release!

Storage Authority Press Release April 2nd, 2015  www.StorageAuthorityFranchise.com

 

 Marc Goodin, Storage Authority Co founder and President designed his first self-storage over 25 years ago as a young civil engineer, today he owns several successful self-storages, is a sought after consultant and a best selling author, writing several books based on the needs in the self-storage industry. Last year Marc and his partner founded Storage Authority, a national self-storage franchise. Storage Authority represents a career of development, management and consulting in the self-storage industry.

Marc’s partner and co-founder Scott House is a franchise development and marketing expert, with over 20 years experience, Scott specialized hotel franchising for most of his career and has held several executive positions in the field including President of nationally known hotel brand.

Storage Authority was developed especially for the unique needs of the self-storage industry, our exclusive manager driven system is called “Dynamic Ease”, and it will revolutionize the industry! Simply said, it empowers everyone from the owner to the employee with proprietary easy to learn systems that will not only insure competiveness in your market but your dominance.

Marc has developed these proprietary training systems over his vast career through his development and management of his own facilities and as important though his consulting business where he has learned working with hundreds of facility owners what works and what doesn’t. You will for the first time have access to the systems and practices that up to now only the large REITs’ enjoy.

Every Storage Authority Franchisee will receive our proprietary operations manual, pre-opening and on-going training, placed on our national reservation system, receive placement on our national website, and be provided at no charge an individual website,SEO, Storage Pro management software, Industry first customer loyalty program along with a 4 point customer satisfaction guarantee, national and local marketing and much more…

The fact you are already in the self-storage industry or just joining, shows you understand what a great investment opportunity exist. The time has come for one of the most powerful business concepts, franchising, to pair up with one of the most successful businesses in the U.S. self-storage, we believe this is the future of the industry. This was proven many years ago in the hotel and restaurant industries, whereby small independents discovered by joining a franchise they could cut cost, improve operating systems, receive more reservations, more walk in’s through brand recognition and brand consistency. Now in 2015, the majority of successful hotels and restaurants in the U.S. are franchised and we believe the self-storage industry is on the same path.

Did you know a new franchise opens every 8 minutes every business day, generating 2.3 trillion dollars a year in the US? Did you know that there are nearly 1 million franchises in the U.S.? Or that 41 cents of every retail dollar is spent at a Franchise operation? The Storage Authority Franchise system will provide business ownership offering benefits and the competitive edge not available by starting your own venture.

We understand that you developed your self-storage business with your hard earned money and sweat equity because we did the same. We understand and fully appreciate that you enjoy owning and controlling your facility. We also understand that you may not have the technology, knowledge, sales and the marketing programs needed to bring your business to its full potential. Owning a Storage Authority franchise will provide you with unique and proven concepts that will empower you and your business with the essential resources it needs.

Marc is not just a “franchisor”; he is a long time developer/owner/operator in this very fragmented industry. Experience counts in not only getting started in the right direction, but in maintaining the operating systems necessary to stay competitive in this “bigger is better” world. Our industry is long overdue for a national franchisor to compete against the public REIT’s”….

Nick Malagisi, National Chair-Self Storage- Sperry Van Ness International.

‘Self storage franchising combines the best of what can make self storage such a fantastic business: the independence that the successful entrepreneur loves and the proven systems and resources used by the ‘big guys’ that improve revenues, profits and values. The smartest people in our business surround themselves with smart people and this new concept combines the true independent spirit with some of the most experienced professionals in our industry to provide affordable and effective policies, programs and procedures. Taking advantage of these combined resources is smart and forward thinking.’

Bob Copper, President Self Storage 101

“I am so pleased to be preparing the state specific form rental agreements for all the franchisees of Storage Authority.  Once the franchisee has their rental agreement, Storage Authority allows us to work with the franchisees to make the rental agreement and other forms specific to their operations.  That kind of support and flexibility is unprecedented in the franchise industry.”

Jeffrey Greenberger, esq., Partner at Katz Greenberger & Norton, LLP, Cincinnati, OH

“Trachte has long a standing relationship with Marc Goodin and looks forward to providing Storage Authority franchises top quality buildings. Storage Authority offers a one of a kind opportunity for developers.”

Steve Hajewski, Trachte Building Systems

“It’s been a pleasure to work with Marc over the years.  Syrasoft is very excited to be providing Storage Authority’s cutting edge management program Storage Pro.  Storage Authority Franchising is going to help a lot of people get started in self storage and many existing facilities get to the next level.”

Tom Garden, President Syrasoft

To learn more about Storage Authority please visit their web site http://www.StorageAuthorityFranchise.com

 

Storage Authority Contact Info:

Storage Authority, LLC

101 NE Third Ave. Suite 1500

Fort Lauderdale FL 33301

1-844-33-STORE

Marc@StorageAuthority.com

Scott@StorageAuthority.com

The Self Storage Profit: Products – Process-People- Part 2

The Self Storage Profit: Product-Process – People

PART 2

http://www.SelfStorageMarketing101.com

 

I love watching The Profit on TV.  He is always about making things better for both the owner and clients – checks and balances.  Too often we are just like the failing businesses on the show – doing the same old thing and expecting different results.  Sometimes change requires change. In the end it takes good people that understand it can and must always be done better and more efficient.

Last month I shared Products – Process & People Part 1.  If you missed it you can read it here: http://buff.ly/1Al1rKn

As part of our on going launch of Storage Authority Franchising http://www.StorageAuthority.com we have written over 290 pages about the Self Storage Profit: Product – Process & People.  Here are a couple more to add from last months list to help you and your self storage have a terrific 2015!

 

The Self Storage Profit: Products- Process- People

We always on the look for great strategic partnerships with the best of the best experts and vendors in the self storage industry.  I want to share a couple more of them with you and how they can help you.

 

If you want to:

Increase Your Monthly Profits.

Protect Your Investment.

 Add Value For Your Customers 

Contact Our High Performance Team Today!

 

The Premier Self Storage Building Manufacturer. 

www.Trachte.com 

I have used these guys many times and can tell you they are much more than just suppliers of great Self Storage buildings.  I remember 10 plus years ago when I was getting ready to order a building, how the Trachte Rep met one on one with me and taught me several things.  Not only did he give me options but just as importance the pros and cons of each so I could decide what I needed.  In the end several of his suggestions made a huge difference.  He helped us plan and design the office with a split block face not only to help us get Town approvals but also to have a great looking upscale facility.  We saved money by implementing his idea of stepping the building to match the topography.  We also increased the building height one foot to provide both a superior look to the facility but also to rent our 10 x 20’s for car storage.  We paid these small extras off a long time ago and continue to rent more units and make more profits because of them.

Their web site has all kinds of voluble information from pricing to profits. Check it out.   I suggest you give Trachte a call as soon as you have an interest in a piece of land.  Let them know Marc From Storage Authority recommended them.

Self Storage Access Control and Security Solutions.

www.PTIsecurity.com

First question.  Do you know what you are selling at your self storage?  We do not sell material items (except locks of course as note above).  We sell value to customers.  We provide a service: A safe place to keep their stuff. Did you notice the two key words value & safe?   Don’t go second rate on the most important thing to your customers.  PTI has what you need.  Don’t forget this is a new era of apps.  I love the PTI app that allows the customers to open the gate with their cell phone from the comfort of car.  Always think how can you stand out from your competition.  Often it is a little thing like a cool app and great service.

One of the biggest construction mistakes I see is owners leaving the specific products up to the contractors and then they often end up with the inferior cheap products that have to be replaced down the line.  Don’t let this happen to you call PTI Security Systems early in the design process so you can tap into their knowledge and experience.

 

Personalized Promotional items To Grow Your Business.

http://www.QualityLogoProducts.com

People often ask me what is the best marketing.  They are looking for the marketing secret. Sorry to tell you that it does not exist.  I have said it before and I will say it again. The best marketing is marketing!  Familiarity makes sales.  Often a potential customer will have to hear or see your name 10 or more times before your name automatically pops in their head when they need your services.  One of the best ways to get your name in front of prospects is with logo products.

Every year I hand out over 3000 plus logo products from each of my facilities for huge returns:

Magnetic fridge calendars:  wow – they (and their friends) see our facility name everyday.

Ice Scrapers:  They see our name every winter storm.

Sunflower seeds: they think of us when they get them – again when they share with their spouse, again when they plant and every time a friend comes over and admires their sunflowers all summer long.

Rulers – pens – key chains – clips – and so much more!

You get the idea – the possibilities are endless.  The best way to make them work is to hand them out all over town, not sitting in the office.  Logo products are great conversation ice breakers and will lead to conversations about you and your business.

Remember people like to do business with friends and every time you hand out a logo product you will be making a friend.  After you hand them out a couple of times you will realize people are waiting for your next visit and surprise.

Place an order today and every quarter for a record breaking 2015!

 

Magen Smith, CPA, Monthly Book Keeping, Budgets & Marketing Tracking.

www.SelfStorageCPA.com 

What is one of the main reasons we all go into this business?  Right Lifestyle and freedom.  And that takes profits!  Not only can Megan keep you books in order every month but also she can do so much more.  She is an ex self storage manager turned CPA. So she gets it.

Magen can pay your bills.  And she makes it simple – you approve in her/your bill portal and they are paid.

Magen can help you track your operational assessments to make sure you spend your dollars wisely.  You need to know where your marketing dollars are going and if they are paying off.

She will help you set both budgets and goals.  You don’t get that with any other CPA I know of.  Call her now to get ready for 2015 and get the time back you deserve. Tell her Storage Authority sent you.

Continue building your High Performance Team today and give my friends a call today for a free consultation.  If I can help in any way let me know.

Lastly I would like to leave you with 5 simple tips guaranteed to get you more sales in 2015.

1) Secret shop your facility.  Have a friend rent a unit. Email me if you want my free Secret shopper review list.

2) Give a copy of your secret shoppers review list to your manager.  Now they will know the minimum requirements and actually do more.

3) Make it a requirement that your manager shakes hands with each prospect and give them their name.  This will get them standing out of their seat and set the stage for a successful sales presentation.

4) Make it a requirement that every prospect is asked one way or another if they want to rent or make a reservation today – no matter what they may have said.

5) Ask your manager to make 4 list for 2015:

Marketing month by month for 2015

Site & landscaping improvements for 2015

Office improvements for 2015

Income/unit rented month by month for 2015

To Your Success!

Self Storage Sales Manual Update: The biggest stumbling block to super profits is poor sales techniques.  The Techniques have been proven and the book is in progress with a July 2015 completion date.

Marc Goodin

http://www.StorageProfits.com

860-830-6764

marcgoodin@gmail.com

ps If you want to be part the ultimate Self Storage Team and the Storage Authority System check out http://www.StorageAuthority.com

Self Storage is Booming – Why not you – why not now?

Self Storage – The Greatest American Dream – Just got Better!!

Storage Authority Franchising – We are BIG on Your Success!!

So you’re looking for something different.  Maybe you were like me and enjoyed a great career but after twenty-five years doing the same thing you thought it was time for a change.  As a civil engineer I worked with a lot of business owners and entrapneours but most of them did not have the life style, flexible work schedule and income I desired.  There was one guy who had both time and money and he owned self storage.  His visit to my office changed my life.  Please let me share what I learned from that visit and later experienced fist hand to be true.

Why Start A Self Storage Business When I Already Owned a Very Successful Engineering Company?

Be Your Own Boss:  And just as important for me – there are next to no employees compared to most businesses and no company politics to deal with everyday.

Flexible Work Schedule:  I was able to kept my working at my engineering business full time. Then one day I had replaced my engineering income and retired from engineering.  Now my managers run the day to day business for my 3 self storages while I take care of the big picture and work in the office now and then for the fun of it.

Control Your Own Future and Security:  Even as an owner of an engineering business I was trading dollars for hours.  And there were never enough hours in the day.  Self Storage provides a kind of residual income for life once you get it running on all cylinders.  And all along you are building equity so you can have retirement income when you’re ready!

Growth Opportunity and Limited Risk:  I was willing to work hard but I did not want to risk everything I had already accomplished so I looked for a growing industry, high profits and high success rates.  If you check out the self storage industry like I did you will find:

 

  • Self storage has higher long term return rates of all the major real estate categories including; Apartments, Office buildings, industrial, and retail and cost less to build.
  • “The Self Storage Industry has been one of the fastest growing sectors of the United States Commercial real estate industry for the period of the last 35 years.”  Self Storage Association Fact Sheet
  • Self Storage is presently a $25 Billion a year business and projected to grow a whopping Billion dollars a year over the next five years.
  • Self Storage customers are located everywhere and more and more people are using self storage every year.  Self Storage renters are as follows:
    • 41% Long term residential customers
    • 32% Short term residential customers
    • 19% Commercial Customers
    • 4% Military Customers
    • 4^% Other
  • Many self storages are under managed or poorly managed, including the REITs, allowing a knowledgeable owner to do better than the industry incredible returns.
  • Building, owning and developing operational systems my three self storage facilities has made a huge financial difference ion my life.  Just as important the personal fulfillment, enjoyment and satisfaction has been very significant.

 

What Are Your Next Steps?

Don’t take my word; check out the facts on your own.  Visit two or three self storages and see if you can talk to the owners.  The FAQ section, and my books here on my web section will give you some more information and places to get additional information.

The Good, The Bad & The Ugly

The Ugly

Your success and your dreams are up to you.

Unfortunately we have to admit that perseverance is not the most human trait.  People often refuse the truth because it is inconvenient. Accepting average or status quo is the enemy of great success. Too many people have told me “I was going to build a self storage but you (or someone) beat me to it. There is always an excuse if you’re looking for one.

Don’t wait!  Get started today.  Action will give you the results and belief you need.

The Bad

Your success and your dreams are up to you.

I have so often heard people saying, “I understand” and then I see them doing the exact opposite of what they thought they had understood.  It is only when you put into practice what you have understood that you can really say that you truly understand.

Don’t wait! Get started today!  Actions will give you all the results and belief you need.

The Good

Your success and your dreams are up to you.

But now for the first time in US history you have a one of a kind self storage opportunity with Storage Authority Franchising.  With Storage Authority you will be in business for yourself but not alone.

The Storage Authority Advantage will make a difference.

  • Easier entry into the business.
  • Easier to acquire financing.
  • Better site locations.
  • Immediate professional image.
  • Learn the business faster and more effectively
  • Start with a proven business plan.
  • Save time and money by avoiding costly mistakes.
  • Save money through group purchasing power.
  • Profit from experience and knowledge of the franchise network.
  • Build more customers through brand awareness.
  • Build more customers through group advertising.
  • New business opportunities through ongoing research and development.
  • Increase equity and resale value.
  • Higher success rate than independent businesses.

Want to learn more?  Give me a call on my cell 860-830-6764 or my personnel email marcgoodin@gmail.com  Don’t wait! Get started today!  Actions will give you all the results and belief you will ever need.

To Your Success!

 

Marc

wwwStorageAuthority.com

 

 

 

 

This web page does not constitute a franchise offering or an offer to sell a franchise. A franchise offering can be made by us only in a state if we are first registered, excluded, exempted or otherwise qualified to offer franchises in that state, and only if we provide you with an appropriate franchise disclosure document.

The Self Storage Profit: Product- People- Process

High Performance Self Storage Partners for a Premier 2015!

               

Are you ready for a record breaking year!  If you have been watching The Profit on TV you know you must concentrate on three things for a great business:  Product, Process & People.

Soon I will be launching a new self storage concept that will revolutionize the self storage business that incorporates just these three things: Product; Process & People.  Next month I will send you the details but until then I wanted to share a few things to make your 2015 more exciting, fun and successful.

Products:

As part of our new adventure I continue to develop strategic partnerships with the best of the best experts and vendors in the self storage industry.  I want to share a couple of them with you and how they can help you.

 

http://www.StorTrack.com

Do you hate calling around and getting your competitors rates?  What do you say when a customer says can you match the rate of xyz at your competitors?  Do you wonder what sizes your competitors have?  Well now you can have the answers at your finger tips plus the trends as well. You can even try it for free for seven days – no credit card required.  I know you will like what you see!  Enter the code Pricing20 to save 20% off the cost!

Pricing matters!  I have had several clients who have increased their bottom line by $6,000 to $8,000 a month in just one year simple by learning the basic pricing principals!

 

 

http://www.OnTheMoveTrucks.com

Are you looking for a competitive edge?  Almost everyone has thought about having a Truck distributorship at their facility at one point or another.  Many of us even gave it a try, only to learn it took a full time employee and we did not make a net profit because we were taking needed employee resources away from our Storage business.

Well now there is a very impressive alternative.  A single rental truck you own or lease from On The Move.  It gives you the best of all worlds.  A single On The Go Truck allows you to attract new customers with limited effort and beat the competition for a net profit!  Check out their web site and give CJ a call (800-645-9949) for more info and tell her I said hi.

Process:

Self Storage is unlike most other businesses in the sense often one person has to remember everything from A-Z. Without a great process we will never have the time to provide the outstanding service our clients deserve or do all the things a self storage manager and owner need to do to get more customers.

You may have seen my monthly marketing calendar (email me at marcgoodin@gmail.com for a free copy).  It lists the on going marketing items month by month to make it easy to remember everything and get much more done.

This year each of my facilities have modified the marketing calendar to make it a month by month Marketing, Maintenance & Office Calendar.  Each Category is in a different color for quick reference. This is also a life savor when you hire a new manger.

Maintenance is self explanatory but don’t forget to add things like; confirm/review lawn mowing (snow removal too) contract, AC filters changed, paint bollards, etc. Here are a couple of Office items examples for the calendar:  Insurance payment due next month on xx, workman’s comp due next month on the 5th, Property Taxes due, Sales tax due, review & update web site, order year end products etc.

Again this helps us prepare and be more efficient.  How many times have you gotten you insurance bill the day before it’s due and once again you have no time to review it?

There are many financial processes critical to a self storage business from categorizing construction components for the best tax advantages year after year to setting up your quick books/ financial reports. If you do not have a clear and concise day to day financial record keeping system in place or are not preparing for year end income taxes month by month you need help.  If you do not have a qualified CPA, who is an expert in self storage accounting to help you with your financial processes, I recommend you call (775-828-0767) Jerry Jones the Self Storage CPA and tax specialist and add him to your High Performance Team. http://www.TheSelfStorageCPA.com

 

People:

Every Self Storage should have a High Performance Team.  People you can trust that provide solutions. People who understand what you want and need, sometimes even before you do. I have mentioned a couple of people on my High Performance Team above, here are more.

 

Diane Vizzo and company http://www.hillcrestagency.com/self-storage/ is on my High Performance Team.  She understands the self storage business, especially self storage insurance. You can count on her to help you understand your insurance options and be there when you need her.  If you are just starting out or simple want someone on your side for a change give Diane a call now. 860-767-9190 Don’t forget to tell her I sent you. 🙂

 

Bob Copper and company – http://www.SelfStorage101.com -is on my High Performance Team.  He has incredible knowledge on how to improve your operations from getting started to getting to the next level of profit.  Maybe you or your staff just need a good how to self storage book or internet training seminar pick me up or maybe you need an on site consultation?

If your tying to determine if a site is suitable for self storage Bob is the your guy for site feasibility studies.  He has several options depending on your needs. He tells it like it is. (He does not sugar coat it because he wants to sell you a building).  Give Bob a call and introduce yourself and hear first hand what he does, even if you do not need his services today.  I dare you and don’t forget to tell him I put you up to it.

Continue building your High Performance Team today and give my friends a call today for a free consultation.

To Your Success!

 

Marc Goodin

860-830-6764

marcgoodin@gmail.com

 

ps Feel free to contact me with any questions.  If I don’t know the answer I will get you in touch the person on my High Performance Team who does.

 

Also if you have any High Performance people you would recommend let me know.

Twenty-Seven Common Self Storage Design And Construction Mistakes To Avoid

Incase you missed my recent article in Inside Self Storage here is is!

Twenty-Seven Common Design And Construction Mistakes To Avoid

by Marc Goodin

Common design and construction mistakes can cost an owner immediate extra expenses to correct or long term financial losses or aggravation because they cannot be easily corrected.  A final design takes input from several professionals including a building manufacture, architect, civil engineer, contractors and a self storage consultant.  Often the reason we see many of the same common mistakes over and over is because there is no self storage consultant used as part of the process.  The design group typically has enough experience to do a good job for their specific expertise but the coordination and some things specific to self storage are often left up to the novice owner.

Don't forget to make your office bright!!

Here are twenty-seven common design and construction mistakes to avoid:

1.  No office in phase 1.   Without a managed office your rent up period will be difficult and take much longer. And you may have to reduce your rents substantially.  People do not like to call for an appointment.  Many rentals start as a simple inquiry from a person driving by.

2.  No sales area in office or sales area too small.  A nice office and sales area with products help makes an important first impression and will both increase your rentals and product sales.

3.  No easy access to customer bathroom.  Your customers will use the bathroom

and they should not have to look for the bathroom or need to go behind the

counter.

4.  Customer has to go through the security gate to get to the office. The office

should be outside of the security gate and fencing.  It is much more pleasurable to

drive directly to the office without going through a gate or fenced in area. And

renters prefer the security gate closed even during business hours.         

5.  Lack of a 4 foot man gate for walk through access to the storage units. You

will be taking potential clients for site walks to visit units on a regular basis.  A

walk through gate is so convenient and makes the process faster.  Not to mention

you will be in the “yard” several times a day doing chores making the man gate a

must both for you and for potential clients to come & find you.

6. Access key pad not properly aligned up with the gate limits.   The key pad is

often pushed to the edge of the pavement so it does not appear to be in the way. 

But because the key pad is typically located close to the gate, even a small off set

makes the turn to the gate hard to make.  Often the key pad location is set before

the gate is in place and we forget the gate is much smaller than the 24 foot

driveway and do not realize how much the offset is.  Always stakeout the gate

opening and key pad, then check with your vehicle before the key pad is installed.

7. The gate safety vehicle trip wire is not installed under the final pavement course.  This is the wire that is installed on each side of the gate that registers a car is passing so the gate does not shut on a car.  To often a saw cut is made in the pavement to install the trip wire since the paving contractor and gate contractor were not coordinated.  In cold climates this cut will never patch well and the pavement will deteriorate year after year.

8. Lack of bollards.  Bollards protect the key pads, gates and building corners.

They are often left out due to the $500 plus cost per bollard.  It only takes a

couple of accidents to make you wish you had them.

I always like to make my kids part of the entire development process!

9. Facility located in industrial park or out of the way locations. Certainly

veterans self storage developers and novice have read don’t do this, many times

but we continue to see self storages that can not rent up due to poor locations.   I

often hear but I already own the land so it’s free.  Don’t do it!   Sell the land and

buy on main street.

10. Space between buildings is less than 24 feet.  This is the minimum isle width

required by most zoning and building regulations, but not all.   It gets difficult to

have two way traffic and to safely park and pass.  Less than 24 foot will be

noticeable to your potential clients and they will have the option just down the

road for 24 foot isles.

11. Larger units (especially car storage units) not located to the outside of the

project versus on drives with buildings on both sides.   Cars can just barley get

into a unit with 24 isles between buildings.  On the outside of the project the car

wheels can stay on the pavement and have a couple of extra feet to maneuver.

And bad drivers can use a couple of feet of grass – much better than hitting your

building. You should also consider 9 foot wide doors for all 10 foot wide spaces

or at least car storage units (10 x 20 and larger)

12. Not enough landscaping provided.  Often the first impression people get of

your facility is based upon driving by your facility.  What makes your facility

drive by different? A lot of landscaping is a great marketing feature because it

makes a great drive by impression.  Manicured green green grass & flowers a

must!

13. No windows or small windows in office.  Think big and bright.  It will help

your clients get that: “just feels right feeling” and rent from you.

14. No lighting or not enough site lighting. A light at the site entrance is also a

nice touch.  LED lighting is a must.

15. Storage units not visible from the road.  You may have a lot of traffic on

your road but if they can’t see the doors its like being in the back woods with no

traffic.

16. None or limited security measures.  Perimeter fencing, computer controlled

access gate, site lighting and cameras are considered the minimum standard.

17. Dead ends.  I understand you can get more units – but maybe you should

consider a larger piece of land.  Dead ends do not make for prime first class self

storage.

 

Quality signs are a must.

18.  Odd size buildings. They cost more and often there is no reason for

them.  Since the raw building material comes in even ten foot lengths, even ten

foot increments should be used for building dimensions to minimize waste

for efficient pricing. I have also seen entire facilities with 10 and 20 foot wide

buildings which does not make because they can cost 30% more than the

standard 30 foot wide buildings.

19. Not enough variety in unit sizes.  Even if it is clear you need a high

concentration of a certain unit size it is important to have a variety of sizes for a

faster rent up and more profits. Just because the faculty up the street is out of 10’ x

20’ units does not mean the majority of your units should be 10’ x 20’. Maybe

they only had a couple to start with. Here is a simple ratio to start with for

each 100 units:  six – 5’ x 5’ x 4’lockers, eight – 5’ x 5’, fourteen – 5 x 10,  six – 5 x

15, twenty four -10 x 10’, twenty – 10 x 15, twenty -10’ x 20’, two – 10 x 25, two

– 10 x 30.  There are a lot of factors to consider to determine unit sizes. For

example college towns and areas with high apartment density typically need more

smaller units. During phase 2 you can adjust the units to better adjust to

the local demand. 

20. Show units not located near the office.  Typically you take clients for a site walk to help them determine the best unit for them and promote your facility.  It is nice to have one of each unit size just outside the office so you do not have to walk way out back to show a unit.

21. No lockers (5 x 5 x 4) units provided.  These are small units stacked one

above the other in a climate control building.  You may not need too many but

they will provide your highest rental rate per sf. Since they are the lowest price

unit they help with your advertising.  Units starting at just……

22. Construction phasing not provided on the approved plans requiring a

return to the commission for approval.  If your not sure, show more phases, you

can always combine phases and build more than one at a time.

23. Site signage not on the plans requiring a to return to the

commission for approval.  As soon as you hire a civil engineer for your site

plan design its time to design the sign and determine the location so it can be

shown on the site plans for approval.

Don't forget the coming soon sign - rentals in place before you open are a good thing.

24. Driveway radius at the Town road is too small.  A minimum radius of 25 foot for cars and a preferred entrance radius of 45 foot for large moving vans should be provided.

25. Access isles for RV and boat parking is not large enough. A large RV or

boat and trailer can be over 45 feet long and require an equal length to pull out of

its parking space.  Wider spaces or angled spaces can reduce the over all access

isles required.

26. You need more than good site plans to insure construction is done right and on budget. In addition to have construction plans it is important to have specifications to go with the plans for both bidding and construction.

Everything should be in writing.  Especially plan changes and associated fee changes. The contractors payment schedule should be included in each proposal. Any hold backs should also be included.  All contracts should state, “the contractor shall review and accept any existing work related to his work prior to starting”. A 15% construction budget contingency is a must.

27.  Not realizing it is going to take longer than you think to go from today until opening day.  This often causes the biggest heartaches.  Finding land, site plan design, building design, Municipal approvals, bank loan approvals, bidding and construction can each cause delays.  If you work diligently but are prepared for delays you will enjoy the journey.

 Cheers

Marc Goodin

How to claim thousands in lost revenue now!

Rent increases are part of life and business.

I raise my rates every January.  I just sent out the rent increase letters at one facility.  Sixty clients got a rent increase letter.  The total increase n rent was $495 a month or just under $6,000 yearly profits. Key word being profits.  For some of you have raised your rents in a awhile you may have even a bigger bonus.

Its easy.  And there is no reason not to.  Its simple.  Raise your street rates once a year and raise existing tenants rents if they have been there at least a year.  I just heard one owner say he has not raised his rents in 10 years.  I know thats crazy but I know many of you did not raise your rents for the last couple of years and are not planning to raise them now.  Shame on you.

If you have a good management program like www.Sysrasoft.com it will print you a street rates vs existing tenant rent deviation report. You are going to be surprised how much money you are loosing.

You got in this business to provide a great product and service.  But you can do neither for long if you don’t raise your rates.  Have your property taxes, groceries, utilities and employees wages gone up over the last couple of years.  Of course they have.

And lets not increase the rents $3 and still have them be $25 below street rates.  Go ahead and raise existing tenants $10 – $20 if they are that far below street rates.

The following is from my book Crush Your Competition.  If you don’t have a copy now is a great time to get one.  For the next 10 people who buy a copy I will send them the audio version free.  Just email me at MarcGoodin@gmail.com.  At some point you have to decide do you want to be like everyone else and have low rates, underpaid staff, average facility and services or higher rates and great customers who want and get that just right feeling when they are at your facility and well paid staff.

Email me for your free audio copy of my book (only 10 left)

Week 18

Raise Your Street Rental Rates

“You can never plan the future by the past.”

Edmund Burke  1729-1797

Unless you are the Wal Mart of self storage it almost never pays to be the lowest guy on the block, in fact it does not pay to be in the middle of the pack either. Be expensive or be free.  High prices have a positive halo effect on every part of your business.  And lower rates are 6 or 7 spaces down on the list of the top ten reasons your clients choose you over another.  Companies with great service aren’t afraid to charge a premium for it.

That is not to say that there are not exceptions.  Ten percent of the people will drive to the next town for a lower rate but ask yourself:  is it your goal to capture the bottom 10% of the market or the 90% willing to pay for the value you provide. Being the price leader can actually be a marketing strategy that works.  Of course you have to work hard to make sure you are the premier facility.

Often, when working with a potential client, your staff will get “stuck on price”.  It is important to teach them, so they in turn teach the public, the value of your services.  You have given them a head start with a cleaner, nicer, more user-friendly setting, now you need to seal the deal.  Remember that it is easier and more effective to explain a higher price once than poor quality or lack of service over and over.  People will remember your outstanding value and outstanding service long after the price has been paid.

Remember the last several times you were with a sales representative and they offered three price choices – Low – Medium – High?  I’m willing to bet that most of the time, you often picked the medium or even the high price, especially if you perceived added quality or benefits associated with the higher price.

If you have been following these principles in order, by now potential clients should notice a difference in your business as soon as they drove in or walked through your door.  Now, before they leave they should know that you are different and you offer a host of benefits not found at the typical self storage facility.

Increased rental rates provide these benefits and also allow you do give the occasional discount without impacting the bottom line.

Here is what you will find in Crush.

You should have pre-determined written list of when to raise individual unit prices.  Generally, every unit should have a regular price when there are less than 85% rented and a higher price when they are more than 85% rented.  For example if you have 62 – 10’ x 10’ your price for 0- 53 rented maybe $109/month and 54- 65 rented could be $119.  I know many owners say they will keep an eye on available units but what I have often found before they get around to raising the price is that they only have 1 or no units left.  Besides making you up to an extra $2500+ in yearly profits on this one unit size, adhering to this pricing strategy encourages your renters to rent other unit sizes that you have in excess.

In some cases you may increase your rental rates prior to meeting the 85% level when you know in advance that you will sell out of a unit size quickly.  One case that comes to mind may be the spring influx of college students, where all the small units rent out in a 3 week period.  You actually rent more units using this method because by pointing out a larger 10’x10’ unit will only cost a few dollars more, you rent more 10’ x 10’ units leaving the smaller units for people who will only rent a smaller unit or nothing.  Another unit with a seasonal increase may be the 10’ x 20’ units in November and December when the units may sell out due to winter car storage.

Personal Story

I have retired from my engineering practice thanks to self storage.  I had a picture on the wall of a bum (an out of work contractor) on a park bench.  Under the picture the saying read “I was always the low bidder”.  It is true for contractors, my engineering business and for self storage you don’t want to have the lowest price.  It’s a dead give away of the value of your services.

You will never win with low prices.

Here is the simple letter I send for rent increase:

 

Re: Rent Increase Unit # 312

Dear Marc,

We appreciate your understanding as we adjust our rates to meet the rising costs of providing top notch service. Effective for your March, 2014 payment your rent will increase $xx (plus tax) to $xxx.

At Mansfield Self Storage we will continue to work hard to keep our fees as low as possible and provide the services and value you expect.

We appreciate your business.

Sincerely,

Mansfield Self Storage, LLC

BreAnn S……

Manager

 

To Your Success!

Marc

ps don’t forget to come join our new linked in  group Marketing Self Storage for great ideas you can use now for more profits.

Chaga -Life changing

A little internet search & i knew what to look for

When you do it yourself the rewards are king sized!

A week ago I never heard of Chaga mushrooms.  Apparently it makes a cure all wonder tea. Full of antioxidants and even reported to cure cancer and many other ailments.  Don’t believe me just google it!

And the best part is you can’t buy it in the grocery store.  It’s an adventure to go out in the woods and find it growing naturally.  You may have seen it many times and never even know what you were passing up.  It grows on birch trees and looks like burn charcoal on the outside and golden brown on the inside.

It grows in northern climates.  It just so happens I am far far far north so a walk in the woods today was a little challenge.  It was -25, windy and about 3 feet of snow.  But with the right equipment  it turned into an exiting journey.  Ski shoes, ski pants, neck scarf, warm boots and an ax and I was off.

My first Chaga find!!

I scanned my eyes over many birch trees as I enjoyed the outdoors for two hours.  About half way through my heart started pounding as I found my first Chaga!  At my age any new first are exciting :).

I had invited my wife GP & the neighbors.  They all said yes for another day when it was not so cold.  Well they missed out of the fun but I will share my miracle Chaga tea with them!

So how does this relate to self storage.  Marketing is much the same as hunting for Chaga?  To find Chaga  I had to do a little research to know what I was looking for and that it was worth finding.  I had to do a little planning.  I had to prepare.  I had to make an effort even when no one else was willing.

All cut up into "tea chunks" - just simmer for 20 minutes & wow!!!

The good news is most self storages do not do any real marketing so just a little extra will make your facility shout – wow look at me – wow see how we are different – wow we are remarkable ( i.e. Clients will tell their friends).

To finding your Chaga!

 

Marc

A false alarm - but perseverance soon paid off