1-844-33-STORE

info@storageauthority.com

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Storage Authority October 2017 Newsletter

October 2017 Newsletter

Why own a “Storage Authority” Franchise?

The answer is simple: We Own Self-Storages, We Manage Self Storages, We design and build Self-Storages, simply stated we understand you! Our founders have over 50 years of combined experience in both the self-storage and franchise industries.

We understand your business and together we can put more profits in your pocket, while you retain control of your business. Our proprietary “Dynamic Ease” System is revolutionizing the industry! With this manager driven system, we can train your employees to become experts in marketing, customer service, and retail sales. We understand how important well-trained employees can increase your bottom line!

We also understand that you developed your self-storage business with your hard earned money and sweat equity. 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 a unique and proven concept that will empower you with essential resources, that will not only place you on a level playing field with the REITS but will enable you to surpass them as you retain 100% control of your facility. We know that with the right systems, training, support and your hard work, your success is inevitable

Consider this: What if you could realize an increase in profits while still maintaining 100% control of your business? Our proprietary “Dynamic Ease System”, organizational support and brand recognition will not only allow you keep your profits but enable you to quickly grow them.

Owning a “Storage Authority” Franchise will provide you with the critical brand recognition, knowledge and experience, SEO optimization, sales and marketing, reservation systems and much more that will maximize your Occupancies and your Profits for years to come.

Your Goals are Our Goals

1) Make self-storage MUCH much easier for you and reduce your risks.

2) Ultimately our goal is for you to have a lifestyle and growth business we believe is second to none.

3) Help you obtain oversized profits most people would never reach on their own.

Our 3 Tire Platform makes it happen:

1) New Development
2) Operations
3) Sales, Marketing & Customer Service

New Development
1)  Finding land
2)  Planning & Design
3)  Construction

Marc Goodin (President of Storage Authority) is a civil engineer by trade and has been designing and building self-storage facilities the last 25 years, that’s experience you can trust in.   The development phase alone with Storage Authority will help you avoid much of the risk of starting your new facility.
Learn More

Operations
1) A manager driven system made easy for oversized profits that allows you to keep your career if you choose to.
2) Brand support allows you to profit from the experience & knowledge of Storage Authority team.
3)The best of the old, new &future self-storage customer Service – Sales – Marketing
high tech & high Touch Features – to provide rental prospects with the “just feels right” feeling for more rentals.

Sales, Marketing & Customer Service
Good Customer Service is expected. Exceptional, over the top customer -service and Community service makes the difference. Add in unconventional PR and you have a grand slam. It is not gotten from a manual but rather the top down every day.  Customer service is not a destination it’s a journey and we pave the way for you and your manager.

Sales is serving, making a friend, and helping client proceed in the most positive manner possible for their situation while asking for the sale – overcoming concerns – asking for the sale again and renting today. We provide the roadmap the way for your manager’s rental success! Would you rather rent 9 out of 10 inquiries instead of 3 out of 10?  Did you know the average renter checks out several facilities before they rent?

Marketing is keeping eyeballs on your facility so when someone needs self-storage they think of you and walk in your front door, call you or rent online.  We eliminate costly traditional marketing that does not work and replace it with gorilla marketing and unconventional PR so you can “own your 3 miles”.

Together let’s Crush Your Competition with 3 Mile Domination!

If you want to learn more about Storage Authority there is a wealth of information on our website www.StorageAuhorityFranchise.com  Don’t forget to check out “Why Storage Authority” and our blog/newsroom. Then the next step is to apply on our website or email or call Garrett Byrd (Garrett@StorageAuthority.com or Direct 941-928-1354)

 

Vendor Highlights

Data and analytics to power better pricing and investment decisions

Storage Authority has partnered with StorTrack who provides cutting-edge technology and data to clients with their premier self-storage market data service. They provide flexible online tools to enable you to monitor market rate conditions, a flexible API for integrating market data with everyday workflow tools and custom reports and research to give you insights into new or current markets.

On-Demand Historical Pricing Reports

StorTrack offers Historical Pricing Reports, on demand, for any market or facility in the U.S. Self-storage investors and owners can now develop models and insights into market trends and patterns, with data not available anywhere else. Faster and accurate decisions with data readily at your fingertips!

*Data and analytics to power better pricing decisions

*Demographic and market valuation analytics for acquisitions and investments

*Looking into new markets for your next Self Storage investment? Get unique market insights with historical pricing before making a decision.

No automatic alt text available.
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Self Storage Industry News

The U.S. has an estimated 2.6 billion square feet of self-storage, according to the Self Storage Association. That’s about 8.1 square feet per person, and that’s growing.

According to market research firm IBISWorld, revenue in the self-storage industry reached $35.8 billion last year — and growth is accelerating. Especially in big cities, where space comes at a premium, the trend isn’t going away.

Self-Storage Industry Growth Remains Above Historical Averages, National Storage CEO Says

Self Storage Articles

Understanding Cap Rates

Introduction to Self Storage

COMING SOON!   STORAGE AUTHORITY    MULBERRY, FLORIDA.

ARE YOU READY?

Click here to Get Pre-Qualified to Begin your Journey to Financial Freedom with Storage Authority Franchising!

Recent Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room 

Who Should Own Self Storage?

How & Why Storage Authority was Started

Chapter 2 Fun Self Storage Facts

Chapter 1 Should You Take Control of Your Destiny with Self Storage

 

Share
Tweet
Forward

 

Please share!      We Love Referrals.

Storage Authority
677 N Washington Blvd.

Sarasota FL 34236

www.StorageAuthorityFranchise.com         Garrett@StorageAuthority.com
1-941-928-1354

Storage Authority September 2017 Newsletter

September 2017 Newsletter

The Storage Authority proprietary “Dynamic Ease Development Series”Makes the Difference!  

 
Many franchisees want to take advantage of additional profits by building their own self storage vs. buying an existing self storage. This route also allows new franchisees to get started with less than half the cash capital investment.  The problem is they do not know how to started.  It can be a complex maze between finding the right parcel of land, banking, design, obtaining regulatory approvals, construction and pre opening marketing and preparations, with minefields, delays and cost overruns at every turn.  Marc Goodin, our founder, has learned self storage by being in the trenches and ready to personally guide you..  He is a professional engineer who designed his first self storage over 30 years ago and many more since then, including 3 personal self storage he designed, built, owns and manages.

We have created the Storage Authority proprietary “Dynamic Ease Development Series” Finding Land Through Pre-Opening Tasks. This system along with our one on one guidance helps our franchisees get started faster, go around the minefields, save money and be ready to open with a modern premium facility ready to rent up.  Our Strategic Development system consists of an integrated step by step process where our expertise provides guidance and support throughout the land discovery and development phases.

Here are just some of the areas our Dynamic Ease Development Series make easy:

Table of Contents

Chapter 1      Introduction
A     Building You High-Performance Team
B     First 30 Days
C     Development flow charts
D      Chapter 1 Worksheets

  • Storage Authority Competition Review.
  • Storage Authority Developer Secret Shop Review.
  • Storage Authority Partial Designer and Vendor List

Chapter 2     Land
A      The Basics of a Good Location
B      Typical Basic Land Requirements
C      Hiring a Quality Broker to Assist You with Finding Land
D     Additional Ways to Find Land
E     Initial Land Review Prior to An Offer or Feasibility Study
F       Making the Offer & Due Diligence
G      Feasibility Study
H      Chapter 2 Worksheets

  • Example letter for contacting a land owner.
  • Questions for first meeting with town planner & staff.
  • Individual land parcel info worksheet.
  • Site drive by worksheet.
  • Initial zoning review worksheet.
  • Land offer worksheet.

Chapter 3   Purchasing an Existing Self-Storage Facility
A      Seven Primary Steps of a Real Estate Transaction.
B      Investigating an Existing Facility

Chapter 4   Banking/Lending
A      Loan Options
B      Loan Considerations
C      Often Over Looked Expenses
D      Chapter 4 Worksheets

  • Loan request summary

Chapter 5   Design & Regulatory Approvals
A      Finding Design Consultants
B      Site Plan Design
C      Regulatory Meetings
D      Building Design
E      Security Design
F       Video Surveillance Design
G      Chapter 5 Worksheets

  • Additional Site Plan Design Items to Consider.
  • Additional Building Design Items to Consider.
  • Site Details
  • Owner to do during the Design process.

Chapter 6   Bidding and Construction
A      Finding a Contractor
B      Construction Specifications & Bidding
C      Construction Review

Chapter 7   Pre-Opening Preparations
A      120 Prior to Opening
B      30 Days Prior to Opening
C      Pre Opening Marketing
D      Chapter 7 Worksheets:

  • First product order
  • Managers book table of contents
  • Business cards & marketing cards

We look forward to explaining more about how this optional premium development service will help you build your facility for less money and in less time with confidence. The great news is our president, Marc Goodin, has allowed me to waive the $50,000 fee for this premium service for qualified franchises awarded in the next 60 days.

Check out the Vendor Highlights below to read more about the development land mines!

If you want to learn more about Storage Authority there is a wealth of information on our website

 www.StorageAuhorityFranchise.com  Don’t forget to check out “Why Storage Authority” and our blog/newsroom. Then the next step is to apply on our website or email or call Garrett Byrd (Garrett@StorageAuthority.com or Direct 941-928-1354)

Vendor Highlights

Inside Self Storage Trade magazine and website provides a wealth of Self Storage information!

 

The first recommendation we give to everyone exploring the self storage business opportunity is to order the ISS trade magazine, www.Insideselfstorage.com
to learn many self storage basics.  At the site, you can also enter any topic in the search bar and you find a host of articles to help you get the answers you need.  If you type in our founders name, Marc Goodin you will find several articles on finding land, design, construction, and marketing you will find very useful.

Here are some highlights of Marc’s article “5 Development Disasters Waiting to Happen” in the September 2017 issue of the ISS magazine:

There are many things that often go wrong during the development and construction of a self-storage facility. Franchising helps to avoid the pitfalls trusting in the expertise and guidance of the franchisor.  Marc Goodin (President of Storage Authority) is a civil engineer at trade and has been designing and building self storage facilities the last 25 years, that’s experience you can trust in.   Storage Authority helps and assists the franchisee to examine some of the key difficulties that often go unpredicted by owners and developers, that often create significant cost overruns, lengthy delays and even project shut downs that could have been avoided with the proper research, planning, and design. The most overlooked disasters occur because of poor or incomplete investigations or lack of understanding of the following categories:

 

 1 Initial investigations

2 Environmental issue

3 Permits/approvals

4 State Department of Transportation (DOT)

5 Site Plan & Architectural Design

6 Budgets

7 Construction
With Storage Authority franchising you get the guidance and expertise first hand.

If you haven’t already, here is a link to subscribe to Inside Self Storage.

SUBSCRIPTION INFORMATION:

…….

Self Storage Industry News

*The U.S. self-storage industry generated more than $32.7 billion in revenues last year, almost three times Hollywood’s 2016 box office gross. In many cases, self storage is far more lucrative than conventional real estate investments. For example, the average cost of a U.S. self-storage locker was 97 cents per square foot per month in 2016 — roughly the same as the average one-bedroom apartment in Phoenix. In more expensive cities, self-storage rents are two or three times larger.
* BloomBerg View

Self Storage Articles

Architects thrive on self-storage as development surges

New breed of self-storage buildings filling need across South Florida

The Self Storage growth story is driven by several factors, starting with the relentless accumulation of goods by American consumers. Our industry also thrives on disruption, serving as a temporary resting place for the stuff of the deceased, the recently divorced, the downsizers and the dislocated.

ARE YOU READY?

Click here to Get Pre-Qualified to Begin your Journey to Financial Freedom with Storage Authority Franchising!

Recent Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room 

Storage Authority proprietary “Dynamic Ease Development Series” Finding Land Through Pre-Opening Tasks.

Self Storage Development Disasters Waiting to Happen

How to get started with Storage Authority!

The 3 Big Myths About Rental Rates

 

Share
Tweet
Forward

 

Please share!      We Love Referrals.

Storage Authority
677 N Washington Blvd.

Sarasota FL 34236

www.StorageAuthorityFranchise.com         Garrett@StorageAuthority.com
1-941-928-1354

Who Should Own Self Storage?

Who Should Own a Storage Authority Franchise?

Entrepreneurs

who want a solid real estate investment for both income & retirement.

Business Owners & Professionals

who want to build a second reliable six figure Income.

Families

who want a retirement they can count on and a generational business.

Couples

who want to have a business where they can work together.

Self Storage Owners

ready to take their business to the next profit level and crush the competition.

 

Why doesn’t everyone take advantage of the Storage Authority opportunity?

Because 99 percent are waiting for the “right time” to start a business.  They are waiting for the perfect business.  Don’t believe me?  Just tell your neighbor you are going to build a self storage and they will tell you how lucky you are and  “I was going to do that but………………..”

So that leaves us with the 1 percent who Declare “now is the time.”  They took the time to research self storage and understand self storage is  a solid business that can provide both a great income and a great retirement income.  And they are ready to work to make it happen for them.

Self Storage development is just hard enough to keep it very profitable.  Typically it takes $400,ooo liquid cash equity to get started.  And takes time and work to get it built and profitable.  Storage Authority Makes Self Storage Easy.

If you are a 1 percenter we would love to talk with you.

To Success!

Marc Goodin

Founder & CEO Storage Authority

860-830-6764 direct

 

How & Why Storage Authority was Started

Now is one of the best times ever to join the self-storage industry. I hope you have a minute to read a little about my self storage story and Storage Authority. I became a self storage expert by learning in the trenches. As a professional engineer I designed my first self storage over 30 years ago and many more since then, including 3 personal self storages I designed, built, own and manage.Screen Shot 2016-01-02 at 9.01.40 PM

GP & I relaxing on the concrete slab of one of our self storage buildings.

I have helped many people get started in Self Storage. Quickly I learned everyone was asking the same questions over and over so I wrote a couple of self storage books, to help with some of the common questions and sold thousands. But only 1 in over a thousand readers ever got started. For most there were too many unknowns.

 

Planning-SiteSelection-Design-Build

My book covers many of the basics but there is nothing compared to having Storage Authority on your Team.

One day a hotel franchise expert, Scott House, gave me a call. He had searched everywhere to find someone to help his hotel and apartment clients get started in self storage, where they would make much better returns. He could not find anyone until he read my books and decided to call me. I agreed to help. After about 2 months he was amazed at how complex it was to get started and how each project is both similar and unique and suggested we develop a self storage franchise. And Storage Authority Franchising was created, the only self storage franchise in the US. Scott got so excited about self storage and Storage Authority that he is presently building his first personal self storage in FL

Screen Shot 2017-09-14 at 2.15.39 PM

This is the first draft elevation of Scotts office.   The place is going to be beautiful.

Getting started with Storage Authority is easy and the best way to ensure your success in the self-storage industry. You will benefit from our many years’ of experience as we advise and assist you in all phases of self storage ownership, from land acquisition, design, construction, marketing, operations, sales and on-going support. We not only eliminate the need for a costly learning curve but provide your business with the latest technology, operating systems, marketing strategies and ongoing training that will not only allow you to compete in your market but dominate!

Many franchisees want to take advantage of additional profits by building their own self storage vs. buying an existing self storage. This route also allows many new franchisees to get started with $400K liquid cash equity, less than half the typical cash capital investment.

It is a complex maze between finding the right parcel of land, banking, design, obtaining regulatory approvals, construction, and pre-opening marketing and preparations with minefields, delays and cost overruns at every turn. Storage Authority is the Solution. We have learned self storage in the trenches and are ready to help you jump over the minefields.

SA-Sept.-Article-2 Sept

You don’t want to be feeling like this guy!  And that is why we have your covered!

We have created the Storage Authority proprietary “Dynamic Ease Development Series” Finding Land Through Pre-Opening Tasks. This step by step process along with our one on one expert guidance helps our franchisees throughout the land discovery and development phases, get started faster, go around the minefields, save money and be ready to open with a modern, premium facility with clients at the door waiting to move in day one.

We look forward to explaining more about how this optional premium development service will help you build your state of the art facility for less money and in less time, with confidence. The great news is we are waiving the $50,000 fee for this premium service for franchises awarded in the next 2 months.

I would love to sit down over a cup of coffee and tell you the rest of the story.  Send me an email and I would be delighted to meet you in Sarasota FL

To Your Success!

Marc Goodin

Ps Don’t forget to sign up for our free news letter on our website. Every month you get the latest Self Storage news and tips you can use. www.storageauthorityfranchise.com

Storage Authority proprietary “Dynamic Ease Development Series” Finding Land Through Pre-Opening Tasks.

Many franchisees want to take advantage of additional profits by building their own self storage vs. buying an existing self storage. This route also allows new franchisees to get started with less than half the cash capitol investment.  The problem is they do not know how to started.

Screen Shot 2017-05-26 at 12.14.58 PM

It can be a complex maze between finding the right parcel of land, banking, site plan design building design, obtaining multiple regulatory approvals, construction and pre opening marketing and preparations, with minefields, delays and cost overruns at every turn.  Marc Goodin, our founder, has learned self storage by being in the trenches and is ready to help you jump over the minefields.  He is a professional engineer who designed his first self storage over 30 years ago and many more since then, including 3 personal self storages he designed, built, owns and manages.

Screen Shot 2017-08-27 at 9.51.07 AM

We have created the Storage Authority proprietary “Dynamic Ease Development Series” Finding Land Through Pre-Opening Tasks. This system along with our one on one guidance helps our franchisees get started faster, go around the minefields, save money and be ready to open with a modern premium facility, ready to rent up.  Our Strategic Development Systems consists of an integrated step by step process where our expertise provides guidance and support throughout the land discovery and development phases.

Here is a partial list of items covered in our dynamic Ease Development Series.

Chapter 1      Introduction

 A     Building Your High Performance Team

B     First 30 Days

C     Development flow charts

D      Chapter 1 Worksheets

  • Storage Authority Competition Review.
  • Storage Authority Developer Secret Shop Review.
  • Storage Authority Partial Designer and Vendor List

IMG_1913 Think Retail $17.95 on sale for just $12.99 and sell more locks than your competition sells at $9.99.

 Chapter 2     Land

 A      The Basics of a Good Location

B      Typical Basic Land Requirements

C      Hiring a Quality Broker to Assist You with Finding Land

D     Additional Ways to Find Land

E     Initial Land Review Prior to An Offer or Feasibility Study

F       Making the Offer & Due Diligence

G      Feasibility Study

 H      Chapter 2 Worksheets

  • Example letter for contacting a land owner.
  • Questions for first meeting with town planner & staff.
  • Individual land parcel info worksheet.
  • Site drive by worksheet.
  • Initial zoning review worksheet.
  • Land offer worksheet.

 Chapter 3   Purchasing an Existing Self-Storage Facility

A      Seven Primary Steps of a Real Estate Transaction.

B      Investigating an Existing Facility

 Chapter 4   Banking/Lending

Screen Shot 2017-08-27 at 3.42.11 PM

 A         Loan Options

B         Loan Considerations

C         Often Over Looked Expenses

D       Chapter 4 Worksheets

  • Loan request sample

Chapter 5   Design & Regulatory Approvals

 A      Finding Design Consultants

B      Site Plan Design

C      Regulatory Meetings

Screen Shot 2017-08-27 at 3.36.27 PM

D     Building Design

E    Security Design

F   Video Surveillance Design

G      Chapter 5 Worksheets

  • Additional Site Plan Design Items to Consider.
  • Additional Building Design Items to Consider.
  • Site Details
  • Owner to do during the Design process.

Chapter 6   Bidding and Construction

 A      Finding a Contractor

B      Construction Specifications & Bidding

C      Construction Review

Chapter 7   Pre-Opening Preparations

A      120 Prior to Opening

B      30 Days Prior to Opening

C      Pre Opening Marketing

D      Chapter 7 Worksheets:

  • First product order
  • Managers book table of contents
  • Business cards & marketing cards
  • Screen Shot 2017-08-27 at 3.34.23 PM

You may even have experience in some or many or these items but you will be surprised how many items are just different in the self storage world and because of that our assistance will make a huge difference.  For example you may have a good relationship with your bank and getting a bank loan may not be a huge concern but there are a couple of standard bank loan clauses such as requiring a Debt Coverage Service Ratio ( DCSR) of 1.3 in the loan.  This could be risky as self storage start empty and may not meet this prevision in the beginning.  But even a good loan request presentation will make you look very professional and experienced in self storage and this along with the Storage Authority Franchise program you may get you a better loan.

Our well timed reminders and explanations will often save you money and give you the proper time for coordination which means fewer delays.  You may have many of them on your check list like, wetlands delineations, maximum impervious surface zoning check, sight line check, soil borings, existing water service pressure test for sprinklers, site sign design, photos & reports for regulatory meetings etc. etc, etc, it easy to forget one or two or several get the wrong results or over pay if a clear explanation is not provided.  Just for your engineers we provide over several dozen items for them that are often overlooked and typically multiple dozens more as we review their plans.  And of course the better your plans are the more accurate your constructions bids will be with fewer problems and cost overruns.

IMG_3175

One major area we provide detailed guidance on is your site layout.  Often this saves multiple weeks in the process and gets you a better layout and even more square footage.

The best way to learn more about our proprietary “Dynamic Ease Development Series” Finding Land Through Pre-Opening Tasks and our various systems and platforms is to complete our online application to become prequalified for a franchise as soon as possible and start discussions with your franchise director. We look forward to explaining more about how this optional  development service will help you build your premium facility for less money and in less time with confidence.

We are ready and excited to help you succeed!

Screen Shot 2016-01-02 at 9.01.40 PM

And while your questions may intialy be about development soon your questions will be open and sales, marketing and operation.  The good news is we are ready to help you Crush Your Competition! 

You Can Do it!

 

Self Storage Development Disasters Waiting to Happen

 

StorageAuthority_Horz_logo

 

Storage Authority President Marc Goodin Shares Self Storage Development Disasters Waiting to Happen

 

By Garrett Byrd

 

There are many things that often go wrong during the development and construction of a self-storage facility. Franchising helps to avoid the pitfalls trusting in the expertise and guidance of the franchisor.  Marc Goodin (President of Storage Authority) is a civil engineer at trade and has been designing and building self storage facilities the last 25 years, that’s experience you can trust in.   Storage Authority helps and assists the franchisee examine some of the key difficulties that often go unpredicted by owners and developers, that often create significant cost overruns, lengthy delays and even project shut downs that could have been avoided with the proper research, planning, and design. The most overlooked disasters occur because of poor or incomplete investigations or lack of understanding of the following categories:

 

 1 Initial investigations

2 Environmental issue

3 Permits/approvals

4 State Department of Transportation (DOT)

5 Site Plan & Architectural Design

6 Budgets

7 Construction

Keep an eye out for Marc’s latest article in the September 2017 issue of Inside Self Storage; he is giving tips to developers on avoiding development disasters.  With Storage Authority franchising you get the guidance and expertise first hand.

If you haven’t already, here is a link to subscribe to Inside Self Storage.

SUBSCRIPTION INFORMATION:

SA-Sept.-Article-2 Sept

 

Storage Authority Franchising is about owning your own hometown self storage business. And having the professional systems and knowledge to assist and guide you. We like to say You are in business for yourself but not by yourself.  If you are thinking about self storage you owe it to yourself to contact Garrett Byrd at 941-928-1354 or Garrett@StorageAuthority.com to learn more about the Storage Authority Franchise opportunity.

www.StorageAuthorityFranchise.com

Storage Authority August Newsletter 2017

August 2017 Newsletter

 

Seven Basic Steps To Find Land for Your Self Storage Project.

1.) Look for the right size parcel of land.

Land size depends on the size facility you are going to build, the quality of the land, (shape, slope, easements, wetlands etc.) zoning, and if you are going to build a single story or multi story facility.  Typically, we recommend a new developer build 50,000 sf plus or minus since it is an efficient size for profits vs investment and has a much higher real sale value than small facilities.

Single Story – 50,000 square foot facility: look for 4 – 6 acres
Multi Story – 50,000 plus square feet facility: look for 1.5 to 2.5 acres.

2.) Look for land in the right location.

Many renters choose a facility because they have driven by it many times.  Self storage needs to be on a main street with easy access, high visibility and good traffic.  Start by thinking “would someone build a grocery store or retail plaza to find the best location.  In a rural/country area the traffic maybe between 10,000 – 20,000 vehicles a day.  In the metropolitan/city area the traffic maybe between 20,000 to 30,000 vehicles a day or even more.  We typically want to see the traffic on the property access road and do not consider traffic from a non access highway.

3.) Look for land based upon the cash equity you have available to invest in your self storage business.

Self Storage is very loan friendly due to the high profits and the lowest failure rate for real estate investments.  Banks typically require owners to provide total project cost equity of 15% for an SBA loan to 30% for a standard bank loan. A multi story building can require double or even more than double the owner cash equity requirements because multi story facilities cost more to build and can not be built in phases.

If your cash equity to invest in self storage is $400K to $1M we would recommend you build a single-story facility where you would need the 4-6 acres noted above.  If you have under $400K you may want to consider finding a partner or private investor.  Storage Authority does have a match program where we match Storage Authority Franchisees with other franchisees with at least $250,000.

4.) Look for land in the right zone.

Typically, self storage is not permitted in residential zones and is permitted in one or more Business zones, Commercial zones or Industrial Zones.  Typically zoning regulations will have a list of uses that include self storage and note specifically what zones self storage is permitted in.  If there are any question you should call the Town Planning or Building department and they can assist you.

We do not recommend a zone change for your first project as zone changes typically require additional time, money and add additional risks as well.

5.) Land features to be aware of.

Wetland areas and the wetland setbacks should not be considered part of the required 4- 6 acres.  To reduce your approval risks, time and cost we recommend you project be built outside of the wetlands and the wetland setbacks. Wetlands are not always detectable by the novice developer and as part of your due diligences determined in the field by an qualified expert.

100-year Flood plane area should not be considered part of the required 4- 6 acres.  To reduce your approval risks, time and cost we recommend your project be built outside of the 100-year flood plane.

Easements should not be considered part of the required 4 – 6 acres.


6.) Hire a Quality Broker to Assist You in Finding Land

There are several steps to hiring a professional that will help you get the best results. First, research brokers who work in your area and have experience in land transactions.

Determine which brokers:

  • Are active in the area?
  • Specialize in land acquisitions?
  • Have a good web presents?
  • Have access to demographics and local traffic counts.
  • Have access to major commercial listings sites such as Loop Net.

Next, choose two or three brokers to interview. Often brokers are skeptical of individuals looking land for self-storage because they have wasted time with tire kickers so let them know you are Partners with Storage Authority and provide them a copy of the Typical Land Requirements.

Any good broker will want to compete for your business.

Interview the brokers during the evaluation process. Listen, but also have some prepared questions. This is your chance to get into the nitty-gritty before you make a decision. Remember, people are generally on their best behavior during this phase, so if they don’t take the time with you on the front end, it’s doubtful they will once you’re signed up as their client.

7.) Other ways to find land and your check list.

There are several other ways to find Land.   At Storage Authority, we have found that around 50% of the land for new facilities is found “off line” and have devoted a significant section to our proprietary Dynamic Ease Development Series “Finding Land Through Pre-Opening Tasks”.  Your first step to finding land off line is to let everyone know you are looking for 4-6 acres for self storage.

You should develop a check list of the basics so record your findings.  As you get more experienced your check list will expand.

You found a possible parcel of land, now what?

The next step is to do a mini demand study and a development layout sketch before you spend time and money on consultants.  On the Storage Authority blog/news room you will find blogs on how to do this and the other steps of a self storage business.  Most or our Storage Authority Franchisees come on board with us before they find land so we can help them find land, so they get the most value and end up with a much better facility.  If you want to learn more about Storage Authority there is a wealth of information on our web site www.StorageAuhorityFranchise.com  Don’t forget to check out “Why Storage Authority” and our blog/newsroom. Then the next step is to apply on our website or email or call Garrett Byrd (Garrett@StorageAuthority.com or Direct 941-928-1354)

 

 

Vendor Highlights

Storage Authority is excited to announce its latest Vendor Partnership with SelfStorageAuction.com

 

Storage Authority Auctions just got easier,  SelfStorageAuction.com is ready to revolutionize the storage industry by providing the most reliable, safe, manageable and efficient platform for online self-storage auctions.

 

One of the unique business features of Self Storage is having the ability to over lock non paying renters units, which provides owners collateral that helps insure renters pay their rent on time. And when they don’t pay it is a simple and quick process to “evict them”.  We even get to use the auction funds to pay for past due rents.

SelfStorageAuction.com provides Storage Authority Franchisees the best online self storage auction platform, along with the tools, and assistance to make the job easy.

 

Self Storage Industry News

Revenue in the U.S. self-storage industry

According to IBISworld, annual self-storage revenue was estimated to be about $32.7 billion in 2016. That figure is expected to grow at an annual rate of 3.5 percent over the next five years.

This boring sector crushed equities over two decades

4 Reasons self-storage is still a good investment

 

 

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Storage Authority
677 N Washington Blvd.

Sarasota FL 34236

www.StorageAuthorityFranchise.com         Garrett@StorageAuthority.com
1-941-928-1354

 

 

Self Storage Planning……… Chapter 4 & 5

Planning-SiteSelection-Design-Build

Your Self Storage

Planning – Site Selection – Design – Build

Over 150 proven ideas to save you time and money and make you a success!

By Marc Goodin

Chapter 4

Why New Construction Vs. Buying Existing Facilities.

     1.Be Closer to Home.  There Are Very Limited Quality Facilities Presently for        Sale.

  1. 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”.
  2. Many Existing Facilities Are Over Priced Due to Bidding Wars and REITs Paying New Record Prices Every Month. As A Facility Owner I Get Unsolicited Request at Least Twice a Month to See If I Want to Sell from Buyers Who Have the Cash to Buy Now.  Buy at 4 Million Vs. Build $2 Million = More Equity and More Profits
.
  3. New Facilities Can Be Developed for 1/3 The Equity Requirements of Buying.
  4. You Reap the Rewards of Your Efforts Vs. Paying A Premium for Others Efforts.
  5. You Can Build in Phases So You Can Start Off with Lower Equity Requirements.

 

Chapter 5 

 Why Self Storage Now? – The Top Seven Reasons

  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%. And interest rates at all time lows.
  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. You Can Keep Your Present Job with A Manger Driven System.
  8. Storage Authority Franchising Is Not Only Ready To Help You Compete With The REITs And Big Boys But Will Help You Surpass Them. They Are 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.

 

If you want to have the complete book as a reference you can order it now for just $9.99 at www.SelfStorageMarketing101.com 

Chapter 3 Start Today!

Chapter 3

Start Today!

Thirteen things you can to do this week to get off to a fast start.

  1. Do a personal review to make sure you have sufficient time, energy and money to get off to a great start. After you read this book you will have a much better idea of the time, money and work it takes to build a self storage.
  1. Join your local State Self Storage Association and attend meetings.
  1. Subscribe to one or two Self Storage trade magazines: www.insideselfstorage.com or www.ministoragemessenger.com.
  1. Read the Zoning and Wetland regulations from the Town(s) you may purchase land in. Often they can be found online for free. Meet with the Town Engineer and Planner to discuss the permitting process for a self storage facility, where in Town they are permitted and the zoning regulations on self storage development.

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  1. Find a commercial realtor to help you with your search for land.
  1. Meet with your banker and ask about self storage loans.
  1. Meet with a local civil engineer to get rough time frames and costs for site plan design and approvals.
  1. Stop at every self storage you pass by and talk to the owners. Let them know you are thinking about starting your own self storage. Some owners will be reluctant to say much but many will be happy to give you tons of useful information.
  1. Join our LinkedIn group “Marketing Self Storage” for great marketing ideas and a forum where you can ask any questions you may have. Feel free to ask any questions you have too.
  1. Order your free developers “getting started packet” from http://www.trachte.com a premier self storage building manufacturer.
  1. Start a business plan folder today. A lot of the information you accumulate over the next several weeks will be used to prepare your business plan.  Your business plan will help you understand the costs, planning, work and risks associated with your new project.  When you apply for your loan the submission of a well prepared business plan will let the bank know you understand the self storage business and are well prepared. This can often help the bank make a positive decision in less time and often with better terms.
  1. Check out the fastest and most profitable way to get started in self storage www.StorageAuthorityFranchise.com  Don’t forget to read the blog for tons of great info you will need to build & market your self storage.
  1. Email me at marc@storageauthority.com when you have 3 of the above items completed for a free 1/2-hour phone consultation for faster profits.

You be amazed how quickly you start learning valuable information.

For the three self storage facilities that I built and presently own it took aprox. 1.5 years from when I initially decided (before I found the land) to finish building a facility.  The longest period of time for me was making the decision to build.  The rest went by quickly.  After you make the concrete decision to build self storage you have to find a piece of land that fits your needs, and negotiate an option to buy. If you already have a piece of land under consideration you are already off to a fast start. Then, your engineer has to design the project and get approval from the local municipal boards. After the regulatory approvals you have to do more detailed designs. Next, you have to choose a contractor(s) and, of course, you than have to build the facility. The more realistic you are about your time schedule the better prepared you will be, and certainly it will be a lot less stressful.

Need help – send me an email marc@storageauthority.com

 

 

Storage Authority July 2017 Newsletter

July 2017 Newsletter

Storage Authority Franchise Partnership Program

It is often hard to come up with the $400K – $500 minimum cash equity required to get bank financing. Or maybe even if you have it, you are not ready to spend your last dollar of savings. I know this because I was short on equity for my first self storage and took on a 50 – 50 partner. It was the best decision I ever made. This self storage made millions in profits and is still making me good money every month and I now own 2 more facilities. Not to mention the growing nest egg when we decide to sell it. It took me a couple of years of asking around to find a partner. To make it easier for you Storage Authority decided to help potential partners find each other via the Self Storage Partner Registry.
Partnership to success
Storage Authority is excited to announce its first of a kind self storage developer match program.  Everyday we hear from potential developers who are ready to move forward with their Storage Authority self storage but do not have the cash equity to get a loan.   The Storage Authority Match program will put two individuals together to create a joint venture team who will have the typical cash equity required to qualify for a self storage loan and move forward with their joint venture Storage Authority facility.   The program has just launched for the state of Texas and will launch for the rest of the US later this summer.  Typically, it is for individuals who want to be 50 – 50 partners.

To qualify for the program, you must have a minimum of $200K cash equity you are ready to invest in a Storage Authority self storage and:

  1. Apply and be approved for a Storage Authority Franchise. Apply on line at www.StorageAuthorityFranchise.com
  2. Complete your review of the Storage Authority Platforms & Systems with your Franchise Director.
  3. Complete a one page Match Program questionnaire that provides your geographical limitations and other basic information a potential partner would need.
  4. We then facilitate introductions and we are available to help you navigate a winning partnership and of course the development and operation of your premier Storage Authority self storage.

If you are an investor we also have multiple investment opportunities as well from investing in individual self storages or Storage Authority, LLC.

Parties Interested  in the Storage Authority joint venture program or investing in Storage Authority, LLC can email Marc at marc@storageauthority.com   for more details.

Inside Self Storage Article on Franchisee Partnership Program

Vendor Highlights 

Dream of owning a Storage Authority Franchise? Don’t let financing stand in your way!

Can Retirement Funds Be Used to Develop a Storage Authority Franchise?
By Marc Goodin

Absolutely!  Should they be used for a self storage development?  While I would not tell anyone how to invest their retirement funds for me the answer was easy. Absolutely!  Why not?

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Using retirement funds such as 401K, IRA, pensions, 403b, 457, or annuities, you can buy a business, pay for any business expense, and to pay yourself a salary without incurring personal taxes or penalties for doing so. You can use retirement funds for the equity required by the bank and take a loan for the balance.

You can pay yourself a salary as soon in the process as you wish, even before you reach profitability. Since this funding option is not a loan, these funds are actually used to buy stock in your business, and therefore are not a personal distribution or a withdrawal.

Screen Shot 2017-05-16 at 1.09.15 PM

The first decision is self self storage for you.  Self storage is an active business that will requires time and experience in addition to money. Where as, retirement funds are often invested in vehicles such as stocks and bonds that do not take time.   Of course the goal is much larger rewards due to your personal efforts.  I may be biased but the best way to get the experience you need for both development, operations, sales and marketing is with a Storage Authority Franchise

The major reason for a retirement funds is so you have funds for retirement.  If you could turn $600,000 in your retirement account into several million for retirement would it be worth it? Just like any retirement investment you need professional help insure it meets your investment goals and you understand the risks.

There are required procedures, rules and laws you have to follow and you will need an expert to help you with the process.  To learn more about how to use your retirement funds for a Storage Authority Franchise I recommend you contact:

Diane Rosenkrantz photo 2014Diane Rosenkrantz, Senior Consultant

Tenet Financial Group 

413-754-3298  

Diane@TenetFinancialGroup.com

817-887-1720 Fax

www.Tenetfinancialgroup.com    

Self Storage Industry News

Straight from the Bloomberg press, the article about self storage states
there are more than 50,000 storage facilities in the U.S, mom-and-pop operators control about 80 percent of them. While the publicly-traded landlords seek to maximize shareholder value, smaller landlords are less likely to worry about market dilution.

Bloomberg Article

The video is a bit more specific – $600,000 NOI – self storage rents for the same price per sf as apartments but expenses and headaches are much less.

Bloomberg Video

 

 

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Please share!      We Love Referrals.

Storage Authority
677 N Washington Blvd.
Sarasota FL 34236

www.StorageAuthorityFranchise.com         Garrett@StorageAuthority.com
1-941-928-1354