How Much Cash Do I Need To Get Started? How Much Land?

You typically need between $200K to $400K.  More or less depending on your experience, time committed to the project and location.  Here are some general ideas to get you thinking.

Finding the right land parcel is the first challenge.

Concept Budget 1: – No land Chosen  – 50,000 square foot facility

Typical Land Requirements

Typical Single Story: 4 usable acres, up to 5 acres for strict zoning requirements and/or storm water detentions is required

Multi Story: 2+ acres.

Typical Construction Cost:  – single story $40 per sf, multi story $70 per sf.

When people project lower cost per square feet they are often assuming everything is perfect which is rarely the case and or do not include all soft costs.

Unusual construction requirements such as ledge, significant cuts or fills, retaining walls, unusual zoning requirements, off site improvements, local pricing etc are not included and can significantly increase construction cost.

Item                                        Single Story             Multi Story

Land                                      $400,000 + –             $700,000 Plus

Construction:

$40/sf x 50,000 sf =          $2,000,000

$70sf x 50,000 sf =                                                 $3,500,000

Unusual land etc.                $0 ?                            $0 ?

Franchise fee                       $20,000                     $20,000

Design                                   $30,000                     $50,000

Banking/Prof.  fees            $30,000                      $40,000

 

Total                                       $2,480,000               $4,310,000

Phase 1 -50%                        $1,480,000               No phasing

30% Bank Loan

equity requirements           $444,000                   $1,077500

15% loan equity                   $222,000                   $646,500

 

Challenge #2 is making sure you have a smart design!

Preliminary Profit & Loss:  50,000 sf single story facility when rented

Income – Assume 85% rented with average rental rates at $1/sf

50,000 sf x .85 x $1/sf = $42,500 monthly income

 Expenses – Assume $0.35/ sf  = $17,500/ month

 Gross profit: 25,000/month = $300,000 year

Industry income & expense can and do vary upon many factors including, competition, local property taxes, location and owners experience.  Typical rent up periods for the industry are between 18 months and 3 years.

As you can see multi story facility cost more and can’t be phased, so they require significantly more capitol and initial equity. This is why seasoned self storages developers typically build them.  Many multi story self storages will even have a higher price tag because they are often larger to off set the land cost per unit, to get better returns.

The hardest part is proper operations, sale and marketing. This is where 90% fail.

A word of caution, never accept a parcel of land simple because you own it or the price is low, it must have significant drive by traffic and the area must have an unmet demand for self storage. With the help of a good commercial broker like Sperry Van Ness (Tell them Marc from Storage Authority sent you) you can quickly determine the land cost in various areas to help you update the above budget and determine your options moving forward.

Often there are several ways to reduce the required 30% down payment.  Franchising, which gives you experience and credibility can reduce the required equity requirements.  If you need to reduce the equity requirements further a SBA loan from a preferred SBA lender who understands franchising typically require the least amount of equity sometimes as low as10%.

Now based upon your liquid assets you can start determine the best options for your needs and investigate land, design, regulatory and banking requirements in more detail.  At this point you are either ready to charge forward or realize you don’t have the capital required.  If you don’t have the capitol don’t give up.  Finding a more aggressive lender and or finding a partner with either the land equity or cash equity may be a great option.

Working with an experienced self storage development expert can also help reduce the construction cost and increases profits. You can look at building a smaller facility but they tend to be significantly less profitable and more of a hobby than a business.

Storage Authority Franchising can not only guide you through the planning, design and Construction phase but will give the operational systems and platforms required for success with todays sophisticated competition around the corner.

Your just one call away from Success! 860-830-6764 Marc

If you have any questions please feel to call or email me.

To Your Success!

Marc Goodin

President, Storage Authority

Marc@StorageAuthority.com

Direct: 860-830-6764

Disclaimer:  This is for preliminary education and over view purposes only and should not be used for investment purposes. It is not a Storage Authority Franchise offer. Storage Authority offering is by the Storage Authority Franchise Disclosure Documents only.  Once a property is located a detailed feasibility study, site investigation, site designs, construction costs and regulatory investigation are required in order to determine the cost and feasibility of a project.

 

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

6 Mistakes You Do Not Want To Make At Your Self Storage

 

The basics of running a storage facility might sound easy. Dig a little deeper, however, and there are many bumps that can come up. If these issues aren’t fixed, they can hurt your business.

As a starting point, “most people think self-storage is all about the price,” said self-storage consultant Marc Goodin, president of Storage Authority Franchising, a self-storage franchise system. But that’s not the case, he said. “It’s about giving customers the ‘just right’ feeling,” Goodin said.

Here, experts share six common mistakes to avoid in the self-storage industry. Understand these, and your place will be one that gives customers the perfect feeling—and an inclination to stay.

1. Not renting units over the phone.

It can be easy to view incoming calls as merely a way to answer questions.

Instead, ask for the sale, Goodin said. “You can rent just as many units over the phone as you can to walk-in customers,” he said.

For the rest of the article:   6 Mistakes in Running your Facility

 

The Key Chain & The Million Dollar Self Storage Counter

Several months ago my Article The Million Dollar Counter was published by inside self storage.  In case you missed it you can read the entire article here: Inside Self Storage

Today I wanted to reprint a small section to emphasize how even the small things make a big difference.

A Couple Of Things Behind The Counter

1) Assume the sale

It is important to have a lease at hand at the counter so after your show & tell site walk to see the unit you can simple place the lease on the counter and say we just need a little information to get you that 10 x 10 unit today. Ask Can I make a copy of your license.  And say nothing!!!

Here is one more little surprise for your clients.  You offer to cut the lock open (vs. asking if they want to buy a lock) and take one key and put it on a free key chain from behind the counter. You don’t want to have the key chains out with the locks because then they will be just be part of they process and expected vs. being a surprise free gift.

Let them know you just put one key on the ring so if they loose one key they have another one. Another small wow.

If your looking for a place to buy key chains and other logo products check out.  http://www.qualitylogoproducts.com/search.cfm?q=keychain+flashlight

Make sure you pay and extra few cents for a nice key chain.  We like the carabineer, flashlight or bottle opener key chains.  Now we see people everyday all over town with our key chains even long after they have moved out.

 

Order Your key chains today!

Cheers,

Marc

 

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.

Hiring tips for the office

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Hiring tips for office storage

Guest post by Heather Roberts

 

The workplace is similar to a home over time you can find yourself with too much clutter and you need to free up some space. Alternatively, you may need to move to a larger workplace or downsize to a smaller place to help save costs. Either way during these situations you can find yourself with just too many bits and pieces and you may need to find an answer. The solution is the same as in a lot of cases and it means renting secure storage. This is the ideal choice for all types for business from an office to a huge industrial warehouse.

Why hire storage

Storage is the perfect and low cost option to keeping your possessions in a safe and secure environment. You may just need some storage room for surplus stock that will not fit into the office. Or you may need to store huge loads of industrial materials, whatever the reason hiring storage space is the affordable and easy option. Nowadays there is a vast choice of storage services available to suit all needs. You will need to contact a few companies to ensure they cover you requests, and ask for a full list of services and rates. One of the main concerns to cover is to have an accurate estimate of the size of the load you want to store. This will make certain you hire the correct size unit to keep your items.

Storage options to help all

You will discover that there is a good selection of solutions to storing almost any type of objects. In addition to being a temporary solution when moving house they are there when you are relocating a business. You may find yourself in a place that you don’t have enough room for all of your possessions. You will be able to find a solution to your dilemma. You have the benefit of hiring a storage room for as long as you need. In addition you can hire different levels of security, so if you are storing valuable equipment, electronics or vehicles then you can have the top protection. If you only need a basic type of storage room that is well kept, modern and clean for basic materials then this is an option. Also you will have the choice to keep your belongings in a temperature controlled environment if you are storing sensitive items that need a special atmosphere.

The independence

Renting office storage or any other storage option you will be given a key to enter the unit when you want. Some facilities open round the clock others have specific times. It is worth checking with the manager of the depot first. You may need to inform them of who will be accessing the storage room.  If this changes be prepared to give identifications details of another person who will be entering the space. If you need other storage services such as packing supplies, deliveries and loading, check what is available to you.

Storage is the ideal and affordable choice nowadays to save money on buying or renting a larger work place. With property prices rising all the time this can be an inexpensive answer. It really doesn’t matter what you need to store, it will all be kept in a safe and protected environment with the latest security surveillance monitoring it. The latest gadgets and electronic systems monitor the facilities for your complete assurance. So you can relax and be confident that all of your items are in safe hands. You will be able to purchase extra insurance cover if you prefer for additional safety. House Moving Van Westminster is a smart option for your future house moving.

Collect Names and Numbers For Huge Profits!

Can you answer these Four Questions every time you got a no?

When ever a potential renter does not rent you must ask these three questions to see if you are really doing a great job.

1 What are the customers needs and wants?

2 What did the customer say that leads you to believe these are their needs.

3 What approach did you take to close the sale?

4. Did you ask for their number?

 “Marc I understand you don’t want to make a decision now but can I get your        number and call you back in a couple of days to see if you have any questions?   I  have found it has been very helpful for many of my renters.

It is easy to blame  price as the reason a person did not rent.  As you get good at making sure you are ready to answer these questions for every no you will find price is typically not the reason.

Every potential customer must be called back in 1-3 days and response recorded in your contact form.

Hi Tom, this is Marc From Coventry Self Storage.  I just wanted to give you a quick  call to see if you have any questions I can help you with.”

 “Have you tied down when you will be needing storage?  Would you like to do the  paperwork to make sure we have a  unit available for you when you need it?

 If no “ Why don’t I give you a call back …..(based upon previous answer) to see how things are going?”

To Success!

Marc