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News Room


October 2019 -The Best Way to Learn About Self Storage!

 News You Can Use
October 2019

Issue # 30 – 30 Links to learn about self-storage 

Storage Authority® News

You won’t want to miss this one.  Free 3-day self-storage summit with over 25 self-storage experts ready to help make your self-storage business a success!  Our own Marc Goodin will be sharing easy to implement marketing and sale ideas that will make you more profits day after day.

Sign up here: https://www.theselfstoragesummit.com/membership-areafb2jf20n?affiliate_id=1970872

Keep your eyes on the lookout for our latest article to be printed by Inside Self Storage: Self Storage Franchising, the Facts, The Pros, and The Cons  by Marc Goodin  In the meantime type Marc Goodin in their search bar and read one of the great articles he has written

Don’t forget Storage Authority will be at The Great American Franchise Expo in Tampa, FL, October 26 & 27.  Come by and say hello at booth 216! 

_____________________________________

As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, obtaining approvals, financing and building a premier self-storage facility.

Learn more at www.StorageAuhorityFranchise.com 
Or email or call Garrett Byrd
Garrett@StorageAuthority.com or Direct 941-928-1354

What is the best way to start learning more about Self Storage and Storage Authority?

Do a lot of reading!
Here are the reading links you need! 

Our Website:

       www.StorageAuthorityFranchise.com

Storage Authority FAQ

Storage Authority Development Services

About the Storage Authority Team

Storage Authority Blog

Testimonials

Franchise Application – Apply Now

Sample Articles & Books by Storage Authority CEO Marc Goodin

Inside Self Storage Articles

ISS – Owners Guide to building a Self-storage Project: Your Responsibilities

ISS – A Checklist for Self Storage Development Success.

ISS – Creating a Napkin Sketch Self Storage Layout: Understanding Basic Facility Design

ISS – How to Perform a Mini Demand Study on a Potential Self Storage Site.

ISS – Building It Isn’t Enough! Understanding the Value of a Self Storage Feasibility Study

ISS – 25 Design and Construction Mistakes Self Storage Owners and Developers Should Avoid.

ISS – Self Storage Planning and Zoning: A Facility Owner’s Guide to Getting Project Approval.

ISS – 5 Unforeseen Disasters That Could Affect Your Self Storage Development Project

ISS – Customer-Centric Sales Techniques for Self Storage Managers.

ISS – The “Million Dollar” Self Storage Counter: Tips to Amp Up Service and Generate More Revenue

ISS – Slide Show: Elevating Your Self Storage Service From Average to Astonishing

LinkedIn Articles 

LI – 3 Tips On Financing Your First Self Storage Project

LI – How to Make a Million Dollars a Year in Self Storage

LI – Are You Planting Enough Acorns

LI – Self-storage Franchising Works!

LI – Steps to Owning a Storage Authority Franchise

Storage Authority Blog Articles

SA Newsletter – How to Determine If You’re Ready to Develop Your First Self Storage.

Interview with a Franchise Owner

3 Million in Your Pocket for Being a Self Storage Expert

Sample Self Storage Development budget and Proforma

Chapter 11 Self Storage Construction

Three Big Myths About Rental Rates

Radius Plus Articles

RP – How to Develop Your 60,000 SF Facility with $500K Cash Equity

Self Storage Books by Marc Goodin

Your Self Storage: Planning – Site Selection – Design – Build   by Marc Goodin

CRUSH your COMPETITION 101 Self Storage Marketing Tips For the Fastest Way To Huge Profits
by Marc Goodin

Do You Have a Self Storage Question?
We would be happy to answer them.
For development questions email marc@StorageAuthority.com
For operations and marketing questions email garrett@StorageAuthority.com

Storage Authority Vendor Updates

We are so excited about our new partnership with FranConnect. It is an incredible platform that makes it much easier for us to better communicate with and serve our franchise owners.  It will provide easy access to the multiple Storage Authority manuals, newsletters, videos, online training and much more.  
Things we love to do besides self-storage.

We just finished season two of building our cabin on the river.  It had been hard work for GP but I can say without a doubt it has been it has been an extremely fun adventure and now we have a unique cabin in the woods we will enjoy forever.

When I say we I mean my wife GP and her brother. I got the privilege of doing the patio/fire pit and the landscaping. They worked 3 months last year and just finished up 2 months this year.  A couple of things left for next year but ready to use now! Good things come to those who plan and work hard.

What would you love to do if you had the time and money?

What would you do with more time & money?


What’s holding you back?  You can do it!  You deserve it!

“Whatever the mind of man can conceive and believe, it can achieve.”
Napoleon Hill

____________________________________________________

          ARE YOU READY?

Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

More big box retailers closing – Think Self Storage Conversions!

The Storage Authority Marketing & Sales Advantage for Higher Profits!

Recent Storage Authority News Letters

September 2019 – Should I use an SBA loan for my new Self Storage construction project?

August 2019 – Self Storage – Where is the best place to build?

July 2019-How to get started in Self Storage – The Real Deal!

                             Storage Authority Video of the Month

 Grocery Store to Self Storage Conversion

Ready to get ahead with the two best number one Self Storage Development and Marketing books?

Check out www.SelfStorageMarketing101.com

Share
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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

Garrett Byrd
Storage Authority
Vice President of Franchise Development

September 2019 – Should I use an SBA loan for my new Self Storage construction project?

 

 

 News You Can Use
September 2019

Issue #  28

Storage Authority® News

Welcome, and congratulations to Frank and Mercedes, brand new franchise owners from FL.  This is our fourth Florida location.

Mulberry Florida is open STORAGE AUTHORITY MULBERRY FLORIDA

Land O’ Lakes, FL site plans are approved and construction is imminent.

New Franchise owner Betty K of Northport FL just put in her first land offer.

Storage Authority will be at The Great American Franchise Expo in Tampa, FL, October 26 & 27.  Come by and say hello at booth 216!

Here are a couple of photos of our Storage Authority Monmouth Rd, NJ facility slated to open around the end of October.

A nice brick facade and huge office windows are going to provide a wonderful street view to attract tenants!

You could be next!.
We have the road map ready to go for you.

_____________________________________
As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, obtaining approvals, financing and building a premier self-storage facility.

Learn more at www.StorageAuhorityFranchise.com 
Or email or call Garrett Byrd
Garrett@StorageAuthority.com or Direct 941-928-1354

Should I use an SBA loan for my new Self Storage construction project?

It depends, but if you do not have the 25 to 35 percent cash equity to go toward the project (down payment) that most traditional lenders require there may be limited other options. SBA lenders typically require 10 – 15% cash equity and can loan up to $5,000,000 for an SBA 7a loan

For a single-story 2 phase project, you can often get your facility built with $500K equity +_. vs over $1.5 MM equity investment required for many traditional lenders

If I have the equity required by a for a typical bank loan should I consider an SBA loan?
You still may want to consider an SBA loan for a couple of reasons as follows:

1) SBA loans allow you to borrow soft costs and carrying costs which many traditional lenders do not.  So even if you have the equity for the loan you will need additional funds for design, soft costs and carrying costs until the facility breaks even if you go with a traditional loan.

2) Most commercial loans are typically for either 5 or 10 years. SBA loans can be up to 25 years allowing you to lock in the current low-interest rates.

3) If you may need your funds for other reasons, the reduced SBA equity requirements will allow you to keep more of your cash equity.

If I get an SBA loan can I use a management company to operate my facility?
Generally, SBA loans are for owner-operated facilities.  To ensure this is the case the SBA has recently made several new requirements for Self Storage SBA loans.  One major one that restricts some management companies (and the value of having a management company) is that owners must be responsible for the facility employees.

Inside Self Storage put out a great article last year highlighting How Recent Changes to SBA Loan Requirements May Affect Self-Storage Borrowers Under the new rules, SBA borrowers must:

  • Approve the annual operating budget
  • Approve any capital expenditures or operating expenses over a significant dollar threshold
  • Have control over the bank accounts
  • Have oversight over the employees operating the business (who must be employees of the applicant business)

The last clause is italicized because it’s the most subtle and important point for self-storage owners using third-party managers. When the SBA says staff must be employees of the applicant business, it’s referring to the borrower. In other words, facility staff cannot be employees of the management company.

Storage Authority Franchise owners do qualify for SBA loans.  Storage Authority is listed on the SBA Registry.

Are all SBA lenders the same?
No!  Just like all lenders are not the same.  SBA  preferred lenders do not have to submit the SBA loan for an SBA review and approval. When a non-preferred lender has to send a loan into the SBA for approval it can take extra time and even lead to changes to the terms of the loan.

While certain items are required for SBA loans every SBA lender does have a lot of terms that they determine and can be flexible on.  That is why it is good to work with a preferred SBA lender that understands self-storage loans and your team.

Do You Have a Self Storage Question?
We would be happy to answer them.
For development questions email marc@StorageAuthority.com
For operations and marketing questions email garrett@StorageAuthority.com

Storage Authority Vendor Updates

We chose Open Tech Alliance for our security and gates systems, call center, online auction partner, kiosks because they integrate with each other and our Sitelink Management software.

But it did not take us long to appreciate how they are regularly improving and adding to their products and services.  Their latest integration with Davnici Locks is going to save our managers a lot of time and headaches with delinquent tenants.   And soon I believe they will make after hour rentals so much easier and much cheaper considering a Davinci Lock is $10 and an individual door lock system is closer to $200 a unit.

See the full press release here: 
OpenTech Adds Overlock Solution to INSOMNIACTMCIA Access Control

          If you are not signed up for the ISS weekly newsletter do it now so you don’t miss out. Sign up  HERE

Things we love to do besides self-storage.
We love a good sunset.  We are very fortunate we get to follow the sun.

Picture 1 – Lido Beach FL – No better place in the wintertime
Picture 2 – Boating sunset on Coventry Lake ( Coventry CT)
Picture 3 – Sunrise on GP’s brothers Lobster boat. Way to early to get up!
Picture 4 – The view from our summer camping in Caraquet, NB, Canada
Picture 5 -We love the beach so much we got married on the beach!

What would you do with more time & money?

       What’s holding you back?  You can do it!  You deserve it!

“Half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” Steve Jobs

____________________________________________________

          ARE YOU READY?

Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

Booming 2019 Summer for Storage Authority Franchise Owners

Self Storage Franchising Works!!

Recent Storage Authority News Letters
August 2019 – Self Storage – Where is the best place to build?

July 2019-How to get started in Self Storage – The Real Deal!

June 2019-Important things your team/vendors will not always tell you!

Storage Authority Video of the Month

Storage Authority Demonstrates Alexa Gate Control

Ready to get ahead with the two best number one Self Storage Development and Marketing books?

Check out www.SelfStorageMarketing101.com

 

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

Garrett Byrd
Storage Authority
Vice President of Franchise Development

 

August 2019 – Self Storage – Where is the best place to build?

 

 

Storage Authority® News

We now are coast to coast!  Welcome and congratulations to Armani & Vanessa, new franchise owners from San Diego, CA.
In case you missed our updated Storage Authority photo gallery don’t forget to check it our here.
It all starts with a decision.  The rest is easy.
We have the road map ready to go for you.
_____________________________________
As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, obtaining approvals, financing and building a premier self-storage facility.
Learn more at www.StorageAuhorityFranchise.com 
Or email or call Garrett Byrd
Garrett@StorageAuthority.com or Direct 941-928-1354

Where is the best place to build?

We get this question a lot.  The best place for most people to build is right in their own back yard, often around the corner and always less than an hour from home.  The grass always seems greener on the other side of the fence but there is no magical location.  Anyone you talk to from any major city will tell you they see new self-storage being built.  Self-storage is like no other business in the fact it is a very local nitch business.  Often 85% of the renters come from within three miles of the facility
But if you had to choose, in general, I would rather choose an area where the population is expanding as an increasing population can correct a poor decision.
And now with Google and programs like Radius Plus it is much easier to see gaps in the market and areas with too much self-storage.  Here is how you can do your own Mini Demand Study.
How do I know if my market is overbuilt?
Again given that  1-3 mile business self-storage is a very local nitch business  “Overbuilt” can be a very generalization of a given city.  While Houston and Dallas have much more self-storage than many other cities and as such could be considered overbuilt.  But as we have experienced with newly opened Storage Authority Walters Rd in Houston TX there are still opportunities in Houston, it just takes longer to find the land.
Now there are several online services that provide the demographics and existing square footage of self-storage, that tells us the existing square foot of self-storage per person for a given radius.  So we can check out a specific address or move a 3-mile radius map around and see where more demand is needed.  Many experts like to locate areas where the existing sf of self-storage, including your project and pipeline project, is at or lower than the national average of 7 to 8 sf of self-storage per person in 3 miles.  Need a Feasibility contact Bob Copper a self-storage feasibility expert from Self Storage 101

 

How is Storage Authority
Better than Shark Tank?

Glad you asked!
To get on Shark tank and make a deal you have to get lucky – not so with Storage Authority.
At Shark Tank not only do you have to think of a great business you have to prove it works.  Self Storage has already been proven to be the best real estate business for many people.
At Shark Tank, you get smart business people to help you but they may not even know your business.  At Storage Authority you get experts in business and Self Storage to help you.
If you get an investor at Shark Tank you are lucky if you get to talk to them once a month.  At Storage Authority we are ready to help you every day.
Get the whole story here:  Shark Tank vs Storage Authority

Do You Have Self Storage Questions?

We would be happy to answer them.
For development questions email marc@StorageAuthority.com
For operations and marketing questions email garrett@StorageAuthority.com

Storage Authority Vendor Updates

We are in discussions with a very large international Real Estate firm to help Franchisees find locations to build.  What makes this a good fit is the firm has many US locations so they have boots on the ground in many locations.  We should have details and have them working with us in the next couple of weeks – will keep you posted.
We are having great success with vendor partner Review Tracker to help us to get leads and respond to leads.  Did you know that 25% of your website SEO is from reviews on your website Plus we are hearing directly from customers they chose our locations because of the great reviews?
Things we love to do besides self-storage.
I am all for hiring experts but if I have the time I love to do outside projects.  Our latest do it your self project is our patio and fire pit at our Rivers Edge Cottage. it was a good 7-day project that I took 2 months to complete.  Not in a rush since my wife GP and Her brother will be completing the inside in the next couple of months.
Picture 1 – Existing sloped landed with an old broken concrete pad.
Picture 2 – Gravel delivered to make a level pad
Picture 3 – Had to build a short retaining wall due to the slope of the land.
Picture 4 – All level and compacted and ready for base and pavers.
Picture 5 – Pavers in except for some that need cutting. Fire Pit next!
What would you do with more time & money?


What’s holding you back?  You can do it!  You deserve it!

“Success seems to be connected with action. Successful people keep moving. They make mistakes, but they don’t quit.” – Conrad Hilton, Founder, Hilton Hotels
____________________________________________________

          ARE YOU READY?

Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

 

Shark Tank vs Storage Authority

Storage Authority Video of the Month

Storage Authority Gate Entry Hands-Free Access

Ready to get ahead with the two best number one Self Storage Development and Marketing books?

Check out www.SelfStorageMarketing101.com

 

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
Garrett Byrd
Storage Authority
Vice President of Franchise Development

Shark Tank vs Storage Authority

By Marc Goodin

Who doesn’t like to watch Shark Tank?  They are on their 10thseason so the intrigue and magic continues.  Every once in a while, we watch it with company, and I hear the same thing: We need to come up and idea for Shark Tank.  If only it was that easy.  Your odds of success and the lifestyle you want are much more obtainable with a Storage Authority Franchise than making a deal with the Sharks.

Most people do not realize how brutal it is to make a Shark Tank Presentation.  After spending years of your time and your hard-earned money on your business, you enter a room full of Sharks and typically have your hopes and dreams slammed to the ground.  When you enter the Tank, you have to be silent for 30 sections before you can even talk – pure intimidation staring down by the Sharks. And after your presentation, you are whisked you off to see a psychiatrist to make sure you can handle the Shark’s rejection.   No need to meet with a psychiatrist with Storage Authority.
Screen Shot 2019-08-05 at 8.47.43 PM

vs

StorageAuthority_Horz_logo

Many businesses start and fail long before they would have a shot at shot Shark Tank.  And then even if you are lucky enough to make it on Shark Tank and make a deal, in most cases you will never become a multimillionaire. So, the big difference between Shark Tank and Storage Authority is you can put tons and tons of effort and money into your business and a Shark Tank deal will still be a very long shot.  A Storage Authority Franchise can make you a multi-millionaire and you don’t have to hope for a deal.  It is much easier and more probable to become a self-storage millionaire than a Shark Tank millionaire.  And I know for a fact every year many more people become a millionaire from self storage than from Shark Tank deals.

At Shark Tank you have to find your own idea and learn your craft vs a Storage Authority Franchise where we have a proven business, financial model and provide the systems and experience to make it successful.

At Shark Tank you first have to get is an interview and then only 0.10 percent for the 100,000 people interviewed a year get on the show. Then most on-air deals don’t actually go through.  With Storage Authority there are a couple of qualifying factors to make sure you will be successful, and they are outline on our website and first call with you so can confirm you understand the requirements before you even apply or request more info.

Screen Shot 2019-08-09 at 7.06.39 PM

Did you ever notice how the Sharks want you to quit your job and work full time at the business if they are going to invest in your business?  With a Storage Authority Franchise, you can keep your job and make a great six-figure income from your manager driven self-storage business.  Who can afford to or wants to quit a good job to go work 24/7 for half pay or no pay to see if new “Shark Tank business” will work out?

At Storage Authority we don’t have producers who provide us with inside or personal information via secret earpieces to make the show more interesting.  We just want to get to know you and confirm we are a good fit.  It is important to confirm you are on board with our high-end Ritz marketing vs trying to be the Wal Mart (the lowest price) of self-storage.

Can you believe Kevin O’leary spends $1000a day on food and expects his employees to work on vacation?  The reason most people buy a Storage Authority Franchise is to retire early and work less not more. I don’t spend nearly as much money on food as Kevin does and would not want to be on the road 5 days a week for work like he is. But I do love helping others become successful in self-storage.  You can learn more about my self-storage story here.

Now if you are going to go on Shark Tank or in fact make any business pitch here are 10 things you should know:

https://www.businessinsider.com/what-all-shark-tank-entrepreneurs-must-know-2015-3

Shark Tank certainly makes for good TV but is not a realistic plan to become rich or a good retirement plan. Now that we have established the odds of even getting on Shark Tank, never mind making a good deal, are slim to none,  it is time to stop dreaming of possible Shark Tank business deal and check out Storage Authority Franchise.

July 2019-How to get started in Self Storage – The Real Deal!

 

 

July 2019 Newsletter

Storage Authority® News

Congratulations to our newest Storage Authority franchisee owner Betty K of Florida. She just signed on board last week and has already hit the pavement running.   Betty is already doing recon and reviewing land parcels. In the next couple of weeks, she is meeting with Civil Engineers, Contractors, and Architects so her team will be in place when she makes an offer!

Betty K IMG_1332

It all starts with a decision.  The rest is easy.
We have the road map ready to go for you
_____________________________________
As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, obtaining approvals, financing and building a premier self-storage facility.
Learn more at www.StorageAuhorityFranchise.com 
Or email or call Garrett Byrd (Garrett@StorageAuthority.comor Direct 941-928-1354)
How to get started in Self Storage – the real deal. 
Many of you are not ready to hear this but I know some are because they are purchasing Storage Authority Franchises.  Getting started it is not about a better understanding of self-storage.  Self-storage is a great opportunity that can provide an incredible lifestyle for you and your family.  It is about is it right for you.
Getting started in self Self-storage is not right for you if:
1) Your life is good and you do not have a reason to do more.
2) You do not have the cash capital ($450,000 min.) to get a bank loan
3) You are not part of the 3% out there ready to own their own business.  Let’s face it the majority of the population is risk-averse, just wants to relax after 5 and are not ready for the responsibilities of owning a business.
You can make a living 9 – 5 but fortunes are made after 5.
If one of the 3 items above have not stopped you it is a simple question.  Is there a big enough reason for you do more?   Have you written your reasons down on paper and put a time frame on it?

If you have written your reasons why there is just one more step:  Jump!  You can do it!

Storage Authority Vendor Updates
At Storage Authority we continue to increase our list of well-qualified self-storage Architects and Contractors.  If you need a reference we would be happy to help out.
We suggest new Franchise owners start by looking for land less than 45 minutes from their own home.  With the addition to the travel time overlay to the RadiusPlus program, we can see both the travel times and existing facility information on one map.  This makes looking for land easier.
With over 1.7 Billion square feet of self-storage, you can not afford to guestimate the feasibility of your site.  Radius should be your first step to check out the numbers.
Things we love to do besides self-storage.
GP and I love to visit with the grandkids!  Our motto is:  “Something to do, Someone to love and Something to look forward to makes for the perfect life.
What would you do with more time & money?


Whats holding you back?  You Can do it!  You deserve it!

____________________________________________________

          ARE YOU READY?

Click here to Get Pre-Qualified to Begin your Journey to Financial Freedom with Storage Authority Franchising!
“Once in a while it really hits people that they don’t have to experience the world in the way they have been told.” — Alan Keightley.
This is the realization that fuels most people to follow their dreams relentlessly. Staying complacent never led anybody to greatness.

Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

Booming 2019 Summer for Storage Authority Franchise Owners

 The Steps to Storage Authority Mulberry FL Grand Opening.

Recent Storage Authority News Letters

June 2019-Important things your team/vendors will not always tell you!

May 2019 –Proven Checklist, Are You Ready To Develop Your First Self-Storage?

April 2019 -$2,500 Storage Authority Referral Fee +10 Opening Tips

Storage Authority Video of the Month

Storage Authority Franchising Development Series

Ready to get ahead with the two best number one Self Storage Development and Marketing books?
Check out www.SelfStorageMarketing101.com

 

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

June 2019-Important things your team/vendors will not always tell you!

 

 

 

June 2019 Newsletter

Storage Authority® News

Franchise owners 4 Paws Development LLC design plans for their facility just outside of Tampa are just about done and will be starting construction this summer.  Above is a sneak preview of the facility.

We have just added a new Photo Gallery to our web site.  Check it out!  Storage Authority Photo Gallery

_____________________________________

As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, obtaining approvals, financing and building a premier self-storage facility.

Learn more at www.StorageAuhorityFranchise.com 
Or email or call Garrett Byrd (Garrett@StorageAuthority.comor Direct 941-928-1354)

Nine important things your team/vendors will not always tell you. 

CONTRACTORS: 

An AIA contract should be used as it is the industry standard but it will require a multi-page addendum with a large host of items for clarification and to better protect you from unnecessary cost overruns and other problems.

2  TOWN OFFICIALS/REGULATORY APPROVALS:

Some town employees, elected officials, town planners, and engineers may give your project the nod one way or another before it is in front of the regulatory commissions for approval. Sure, it is best to have the town staff on your side. BUT! Beware: the votes that count are the regulatory commissioners’ votes

3  REAL ESTATE AGENTS

They are not engineers, zoning experts, development experts or self-storage experts. Their statement that the parcel is suitable for self-storage should be considered just the starting point of your due diligence. They will not be held accountable in any way if the property is not suitable for your needs. You, along with your experts, need to do your own due diligence. Also, you do not have to meet any minimum offer price suggested by the agents.

4  EMPLOYEES:

When they tell you they know better than you or the manual, after six months of managing your facility, they are wrong.

Employees will tell you:

  1. They do not need to follow the rental script because they are better if they wing it. Wrong!

  2. It is better not to rent on the phone. Wrong!

  3. Marketing is a waste of time. Wrong!

If they do not follow the standard operating procedures starting day one and every day after, your facility will go downhill until they are replaced.

5  SELF STORAGE BUILDING MANUFACTURERS:

Their conceptual site plans often do not take into consideration all the land features and zoning regulations.  A trustworthy manufacturer will tell you their plans are just a starting point and that you need to get a detailed site plan by a local engineer and Architect that is familiar with the local zoning regulations, building codes and has more details about the land and unit mix requirements.

6  WEBSITE DESIGNERS:

“I have not designed a self-storage website but I designed hundreds of great sites and can make you a great self-storage website.” Wrong!

The use of the internet grows every year.  A vast majority of self-storage business comes from the internet.  Your website has to be functional for the user, including potential clients, existing clients, your manager, Google, 3-mile geo populations, and more.

YOUR JOB:

It is your job to coach, educate and teach your employees.  It is your job to get the phone to ring and get prospects to stop by your self-storage facility. It is your manager’s job to market the facility, keep the facility in tip-top shape, provide over the top service, and rent at premium prices. http://www.storageauthorityfranchise.com/ helps make sure everyone’s job is done better for more profits.

8  SELLING & MARKETING PLATFORMS:

Sales and marketing are going to make your facility stand out and make oversized profitsThrowing money into sales and marketing is not the solution. It needs to be the company mantra and philosophy.  Over the top service, being an expert, overcoming concerns, understanding what today’s internet customers want, guerilla marketing, and providing that just feels right feeling is the future of success.  You are going to need help unless you personally are willing to work 10 – 15 hours a week on sales & marketing.

9  BANKS: 

Some banks require a Debt Service Coverage Ratio (DSCR) of 1.25 or even 1.35 before they convert your construction loan to a permanent loan.  This might be a possible goal for some commercial real estate developments to meet because they have clients signed to rent the majority of the space upon completion of construction. Typically, self-storage will not meet a DSCR of 1.25 until you are over 70% rented.  If you do not meet this ratio in their required time frame, they can and will ask for you to repay the loan immediately or provide significant additional money to reduce the amount borrowed so you meet the required DSCR.

Storage Authority Vendor Updates

Radius Plus continues to update its platform.  Now it even provides banking information, and information in charts and graphs to easily understand trends and other self-storage information.

And now they even provide articles on the latest self-storage important to self-storage owners.  Here is a link to my article on their site on How to develop your first self-storage with only  $500K cash equity

https://www.radiusplus.com/post/how-to-develop-your-first-self-storage-facility-with-only-500k-cash-equity

And while you’re there take a demo of the site. If you are looking for land this is one site you want to use!

Vendors don’t forget we pay you a $2,500 referral fee for each lead you provide that becomes a Franchise.  Call Garrett for detail: 941-928-1354 

Things we love to do besides self-storage.

GP and I love to grow gardens of all kinds. We make them part of our life where ever we go.  At our self storages, at the fishing cottage, at our home.  For me, it is so relaxing and I enjoy watching them bloom day after day!  Clockwise: 1) One of five flower gardens at home.  2) An award-winning garden at GP’s self-storage we planted.  3) GP Sunflower crop from last year. (We Just planted 4 packages of sunflowers last month)  4) My latest hillside garden in progress at our fishing cottage.

What would you do with more time & money?


Whats holding you back?  You Can do it!  You deserve it!

____________________________________________________

          ARE YOU READY?

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

Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

How to Develop Your First Self-Storage With Only $500K Cash Equity and Make an Extra Six-Figure Income

.Smart Connected Facilities = High Touch, High Technology

 Recent Storage Authority News Letters

May 2019 –Proven Checklist, Are You Ready To Develop Your First Self-Storage?

April 2019 -$2,500 Storage Authority Referral Fee +10 Opening Tips

March 2019-Houston We Have Lift Off!

Storage Authority Video of the Month

Storage Authority Drone Video

 

Ready to get ahead with the two best number one Self Storage Development and Marketing books?

Check out www.SelfStorageMarketing101.com

 

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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

Booming 2019 Summer for Storage Authority Franchise Owners

Betty, our newest Storage Authority Franchise owner signed up yesterday and has already hit the ground running fast!    Step 1 build a team and find land.

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Storage Authority Millstone NJ has started construction of phase 1. Phase 1 is 3 buildings consisting of 30,000 sf of climate and non climate control units.

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Storage Authority Mulberry FL 70,000 sf facility is open in and renting up swiftly!

 

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Storage Authority Walters Road Houston opened Phase 1 the last week of March and is already looking forward to starting phase 2 later this year.

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Storage Authority Land of Lakes FL is slated to start construction this summer.

 

Check out more facility pictures at our Storage Authority Gallery: https://www.storageauthorityfranchise.com/gallery.php

 

If you would like to get a copy of the Steps to Awarding a Storage Authority Franchise, email Garrett at Garrett@StorageAuthority.com or give him a call at 941-928-1354

How to Develop Your First Self-Storage With Only $500K Cash Equity and Make an Extra Six-Figure Income.

By Marc Goodin

Land: You need 5 acres plus or minus of usable land excluding steep slopes, wetlands, easement areas, flood planes or other restrictions. It should be zoned for self-storage because zone changes or variances cost money and time and are often turned down. The purchase price of the land cost must be under $900,000 dollars.

Location: The property should be on a main street in town/city with typically 10,000 vehicles a day or more. The property should have easy access and great visibility. If it is too far off the beaten path for a grocery store it may not be the right spot for a self-storage. Remember around 70 to 8O% of self-storage rentals are by the ladies. If the location is not in an area the ladies would go to on their own day or night, it may not be a suitable location. Self-storage in industrial areas is a thing of the past.

Facility size: In order to make a good six-figure income and be large enough for the Reits and larger players to purchase for a good resale value it should be between 50,000 to 60,000 net rentable square feet. In order to keep the cost down to fit the $500K equity model, it will be single-story facility with a total cost of approximately 5.5 Million dollars built in 2 phases. Multi-story facilities cost more to build and typically can’t be built in phases.

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Demand: There must be sufficient demand in the 3-mile radius and no other new or proposed facilities in the 3-mile radius. There could be a large needed demand in the area but if you have multiple facilities renting up at the same time, the rent-up period (and associated carrying costs) can double or even triple. Typically, in the US there is an average of almost 8 Sf of existing self-storage per person with the average capacity at 85 – 90% occupancy. So, until we do research and understand a specific area, we often use a total demand of existing and proposed self-storage of 8 sf of self-storage per person in the 3-mile radius as equilibrium for a quick demand review until we study the area and demand in more detail. Radius can be used to assist in determining the approximate existing self-storage square footage and area unit pricing.

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Further competition review and feasibility study: Not all self-storage is created equal. Many self-storages are ancient, poor shape, have no pavement, no security and are not open most of the time. Often these facilities will not be your competition. Your goal is not simple to be full but to be full at premium rates. So, it is important to visit your competitions to determine rates, occupancy the quality of the facility and management. If all your competition is charging $85 a month for a 10’ x 10’ unit this is not a good sign. Either there is too much competition, so rates are depressed or the owners simply do not raise their rates, either way, a bad sign for future development.

In Houston, the average existing sf or self-storage per person is over double the national average and in New York, the average is less than half the national average. And in both places, there are good and bad locations. Unless you have the years of expertise a feasibility study by a self-storage expert is highly recommended.

Loan: A typical bank loan will require 25 to 35 percent down and will not provide any working capital. A traditional loan would often require one to two million dollars or more cash equity. Many new developers are going with an SBA loan that only requires 10 to 15 percent down. With an SBA loan, the numbers can look like this: $5.5MM project with phase 1 being $3MM. Fifteen percent down is $450,000 leaving $50K, out of your $500,000 cash equity for phase 2 soft cost before the phase two loan. Often phase 2 will not require more than the $50,000 equity because there is equity in phase one to provide for the SBA 10 to 15% owners cash equity.

Team: While listed here last is the most important item and should be done before you make an offer on land as they will help you review the land, make the offer, complete your initial due diligence and then move on to the design and construction phase efficiently. Your team should include a land use attorney, banker, a land broker, civil engineer, architect, and a contractor.

Secret Sauce: There are thousands of questions to be answered in the development process. In addition to the team members above you will also need a self-storage mentor who has built and owns multiple self-storages. None of the previous experts listed are all around self-storage experts. If you do not have a mentor, it will be important you hire a self-storage expert to help answerer those thousands of questions and go around the land mines so planning, design and construction mistakes do not cripple you. Your mentor or expert must also be there to make sure you hit the ground running with a detailed operational plan and the execution of a premier marketing plan.

May 2019 –Proven Checklist, Are You Ready To Develop Your First Self-Storage?

 

 

 

MAY 2019 Newsletter

Storage Authority® News

Construction has started at Storage Authority Millstone NJ. Phase one consist of 30,000 sf of climate and non-climate control units in 3 buildings. The foundations are complete and the buildings are under construction.

If you did not see the recent article in Inside Self Storage by our President Marc Goodin you need to check it out if you’re considering developing from the ground up.  If you leave the development process to your experts I can guarantee you will be sorry!  Here is the minimum you need to do: https://www.insideselfstorage.com/development/self-storage-owners-guide-building-self-storage-project-your-responsibilities

And the great news is Franchise Owners don’t have to guess or hope they have it right because we are there every step of the way.

The Grand Opening celebration went well at Storage Authority Mulberry.  It was great to see so many town employees show up.

The Grand Opening at Storage Authority Walters Rd was a success with over 90 guests.  The kids loved the fire truck and the adults loved the food and a chanced to win a huge new tv.

_____________________________________

As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, obtaining approvals, financing and building a premier self-storage facility.

Learn more at: www.StorageAuhorityFranchise.com 
Or email or call Garrett Byrd (Garrett@StorageAuthority.com or Direct 941-928-1354)

Ten boxes to check to determine you’re ready to develop your first self-storage. 

1) Are you part of the 1- 3 percenter ready to own their own business?  ie Have the confidence and willingness to take a risk on yourself and your future.
2) Are you willing to keep your job for the next 3-6 years until you replace your income with self-storage income?  ie work more hours temporarily so you can work many hours less if you choose to.
3) Are you willing to spend time to find land both on and offline?.
4) Do you have $450K minimum cash equity ready to invest in phase one (SBA loan – $3MM loan) And have you talked to a banker?
5) Is your spouse on board?
6) Do you understand the development time frame?
7) Do you understand the rent up time frame?
8) Do you have a reason ( other than money) why you are going to do this?
9) Are you ready to learn?
10) Have you ordered the Self Storage trade magazine from Inside Self Storage?

It is not easy owning your own business., The alternative was even riskier for me and my family.   If your ready to talk and learn more and see if we are a good fit call me.                 Marc – 860-830-6764.

 

Storage Authority Vendor Updates

We are excited to announce Charity Auctions is our newest vendor.  We met Kerry Henrikson, the Executive Director at the April ISS Self Storage Convention and were very impressed.  It is a win – win – win.

It helps you become more active in the community.  Local people who might otherwise visit your facility see what a great place you have when they drop off items for the charity auction.  It helps local residents recycle their Items and provide money for local and national charities.

What more could you ask for? Check out their website www.Charity Storage.org.  Then send Kerry an email at kerry@charityStorage.org and she will provide you the directions you need to get started.  We just signed up our facilities and hope you will too.

And the great news is they are linked into our online auction  vendor StorageTreasures, www.StorageTreasures.com so everything is a breeze

 

Vendors don’t forget we pay you a $2,500 referral fee for each lead you provide that becomes a Franchise.  Call Garrett for detail: 941-928-1354 

Things we love to do besides self-storage.

I love to have a glass of wine and dinner at outdoor restaurants with my beautiful wife GP.  And now it is even more fun when we don’t read the menu left to right.  There are a few rooftop bars in Sarasota and we are going to check them all out.  Check out the view from the Westin rooftop bar we just went to!  (last photo)  We would love to meet you for dinner this winter in Sarasota!

Whats holding you back?  You Can do it!  You deserve it!

____________________________________________________

          ARE YOU READY?

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

-“Great things never come from comfort zones! “

Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

The Steps to Storage Authority Mulberry FL Grand Opening.

Where Else Can You………….No Where

Recent Storage Authority News Letters

 

April 2019 -$2,500 Storage Authority Referral Fee +10 Opening Tips

March 2019-Houston We Have Lift Off!

February 2019 Newsletter- 9 Tips for Self Storage Oversized Profits using Merchandise Sales

 Storage Authority Video of the Month

 

Ready to get ahead with the two best number one Self Storage Development and Marketing books?

Check out www.SelfStorageMarketing101.com

 

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

 

The Steps to Storage Authority Mulberry FL Grand Opening.

 

Storage Authority Mulberry FL is open for Business! www.MulberySA.com

First, it was just a thought and then a dream.

1 Planning

And then a sketch

2 Rendering

And then a Rendering.

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Then a Feasibility Report.

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Then a Set of Plans.

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Then Construction.

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And a Lot of pre Opening Marketing!

Grand Opening

And more marketing!

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Of course, if it was just that simple there would be a lot more Self Storage Millionaires. A lot of planning and work goes into turning a dream into a reality. 

Grand Opeing

And the Grand Opening was a huge success!  And in their first month open they already have over 50 units rented.  Great job Scott & Daine!