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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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2 front shot

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!

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

 

 

 

Storage Authority® News

 We are excited to invite Everyone to the Storage Authority Mulberry Grand Opening celebration on April 25th.  In case you can’t make it here are a couple of photos.


Website Storage Authority Mulberry FL

On May 11 Storage Authority Walters Rd, Houston TX is having its Grand Opening Celebration and you’re invited!  You can even win a 50″ flat screen TV!  Just in case you can’t make it here are a couple of photos.




Website Storage Authority Walters Rd. Houston TX

The Inside Self Storage World Expo earlier this month was a wealth of information.  Here is our President moderating the session on Using Data to make Self Storage Investment Decisions.

Need help with your research for a facility check out Radius!

The Dream team at the ISS expo: Garrett, GP & Marc

_____________________________________

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)

Ten things to make sure your Grand Opening is super successful. 

1) Schedule it out 45 days after you open to get prepared.

2) Have town staff  there for a ribbon cutting

3) Have the local fire dept there with a truck.  Don’t forget to give them a donation

4) Have a person in costume with a sign waving drive-by traffic in.

5) Have lots of great food.

6) Have several giveaways & games for prizes for kids

7) Have a one-day rental special.

8) Have extra staff to give tours, help with parking, food etc.

9) Figure out parking in advance – have signage and a parking person.

10 Invite everyone, send out a newsletter, market your Grand Opening and market some more.  Call and visit the local community and email and hand out Grand Opening flyers.

Storage Authority Vendor Updates

For vendor contacts or recommendations feel free to email marc@storageauthority.com for the best of the best!

G5 continues to update our websites every month! New pictures & Videos and new technology.  Just added Open Tech Storage Genie video to the websites.  What makes your website better every month. Now a social reputation platform tied into your website is a must!

Jenny and the team at signquick have updated our Office & Gate sign manual to make life easy!  I love the magnetic unit size signs for the show units

Our packing & moving supplier Supply Side now provides metal slat walls for product displays – so much better than the wood/particle board that chips and does not have the quality look we demand!  I love the Storage Authority Lock packaging they provide for us!

The new Open Tech Alliance kiosks are just incredible.  And with the new price point, everyone can afford one.  The reality is there is no choice – you need one!

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.

Marc our president is more of an engineer than an artist but every once in a while he dabbles in multimedia art.  Here is some of his work.

What would you do with more time & money?

Getting started is the hard part? Or is it? How about just saying yes!

_______________________________________________________________

          ARE YOU READY?

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

 

It’s not about money or connections — it’s the willingness to outwork and outlearn everyone… And if it fails, you learn from what happened and do a better job next time.” – Mark Cuban

Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

Alexa how much does my competition charge for a 10 x 10?

Recent Storage Authority News Letters

March 2019-Houston We Have Lift Off!

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

January 2019 Goal ~ Build Self Storage Facility ~ Imagine That!

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

March 2019-Houston We Have Lift Off!

 

 

March 2019 Newsletter

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Storage Authority® News

We just got back from multiple training trips at Storage Authority’s Houston Franchise and the owner, Ed O., is leasing up at a record pace! We want to send a big congratulations to Ed and his team!  Ed really embraced the Storage Authority high-end sales and marketing philosophies, great job and way to hit it out of the park with a first class facility.

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We are also going to be in Las Vegas April 2 & 3 for the Inside Self Storage Convention and would love to get coffee with you. Again, send Garrett an email at garrett@storageauthority.com today so we get you in our calendar.  As you may recall our CEO Marc Goodin will be the Moderator for the session Using Data-Driven Technology to Make Self-Storage Investment Decisions.  See you there.

_________________________________________________________________
As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, financing and building a premier self-storage facility. We also help you to understand all the options and prepare accordingly.
_________________________________________________________________
If you want to learn more about Storage Authority Franchise 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)

 Storage Genie App

Vendor Highlight

Storage Genie – Tenant Mobile App
Featuring Hands-Free Access to Your Storage Property

Enhance your customer’s experiences by utilizing the hands-free secure access to your facility using the Storage Genie tenant mobile app. Storage Genie securely grants access to your property all while keeping your phone in your pocket or purse! Customers can also make payments, view access history and contact the facility all through the app. The best part is that Storage Genie comes with OpenTech’s INSOMNIAC CIA, so you do not have to spend thousands of dollars developing, maintaining and supporting a mobile app for your tenants.

“CLICK IMAGE FOR LIVE DEMONSTRATION ”

Five things your facility must have to become a smart connected Facility. 

Having a smart connected facility enhances the customer experience and reduces the facilities overall cost.  Our customers are ultra on demand and expect an extremely convenient state of the art facility.

1. Gate Software with hands-free gate access
Getting out of your car or having to key in your access code is a sign of the times. Our customers expect extreme convenience and through a high touch and hi-tech experience.  We have partnered with the Industry’s First Smart Connected Self Storage Solution: INSOMNIAC Centralized Intelligent Access (CIA) best part is that Storage Genie comes with OpenTech’s INSOMNIAC CIA.

2. Kiosk on site It’s like having a 24/7 assistant manager.
Throw away your “Closed” sign, you will not need it. With an INSOMNIAC kiosk, customers make rentals and payments at their convenience, regardless of whether an actual manager is available. We partnered with Open Tech Alliance to bring the best of the best kiosks to our franchise locations.

“CLICK IMAGE FOR LIVE DEMONSTRATION “

3. A website that can fully rent online, take payments and reservations.
Having a first class website that is mobile responsive and can truly rent, reserve, and take payments online is mandatory. If the customer can complete an online rental but still has to stop in the office for access, that is not a true online rental.  With Storage Authority you can, from lease-ups to online leasing, our partnership with the G5 Intelligent Marketing Cloud we will help you fill your storage units faster.

4. Software management that can implement dynamic pricing 
Stagnant prices are a thing of the past, self-storage pricing is just as sophisticated as the airline industry and the hotel as prices, as your facility fills up, your rates go up.  We partnered with the best of the best in Sitelink to make sure our franchisees have access to automated revenue management.

5. A Call center who can rent, reserve  and field payments form 6am-Midnight
There is nobody who is gonna know the facility better than your skilled trained manager who is fluent in self-storage and understands what it takes to drive your self-storage profits. Although call centers have advanced to where when they answer the phones our customers don’t know if they’re calling the actual site or our service center, the call center becomes a valued extension to the site team. Never miss another call  and always capture the critical marketing metrics to where your calls are coming from.

* Bonus Tip: OpenTech IoE Alexa Connection.

“Alexa, ask Storage Genie to open ‘Front Gate’.”

“Alexa, ask Storage Genie how many visitors are here?”

“Alexa, ask Storage Genie who just entered?”

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Storage Authority® experts are ready to help you every single step of the way, from finding land to building your facility, to operations, to driving your revenue year over year.  If you have a question give us a call. Team up with the experts to save time and maximize your profits. Call Garrett at 941-928-1345 for more information.

         A Partnership for Success!

          ARE YOU READY?

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

“Decide what you want, and then act as if it were impossible to fail.”
Brian Tracy

Order your Self Storage Books Here!

Recent Storage Authority Blogs You Will Enjoy

 Complete Storage Authority News Room

 Smart Connected Facilities = High Touch, High Technology

Speaking At ISS Conference

Marc Goodin and Storage Authority Franchise Houston Owner Ed O. From a cup of Coffee to owning a multi-million dollar real estate asset!

 

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

Smart Connected Facilities = High Touch, High Technology

StorageAuthority_Horz_logo

 

Here are three examples of what it means to have a smart connected facility which enhances the customer experience and reduces the facilites over all cost.

 

1.) Storage Authority Gate Entry Hands-Free Access

Storage Authority Franchise site with Smart Connected gate access capability. Opening the gate via hands-free geo-fence proximity partnered with and powered by Open Tech Alliance Insomniac Centralized Intelligent access(CIA). Re-inventing Access Control with the Industry’s First Smart Connected Self Storage Solution: INSOMNIAC Centralized Intelligent Access (CIA)

 

2.) Storage Authority Demonstrates Alexa Gate Control

With Storage Authority you have a smart connected facility which enhances the sites and customer’s overall experience.

The OpenTech AllianceTM IoE intelligent platform of smart connected self-storage solutions and Amazon Alexa allows Self-storage operators to execute commands and receive information about their facility simply by giving voice instructions.

Tying our software in with Alexa a few verbal examples you can use are…

  • “Alexa, ask Storage Genie to open ‘Front Gate’.”
  • “Alexa, ask Storage Genie how many visitors are here?”
  • “Alexa, ask Storage Genie who just entered?”

3.) Storage Authority Smart Connected Kiosk

Storage Authority Smart Connected Kiosk. Enhancing the customer’s experience, reducing the facility’s cost!  In the same way, ATMs made banking more convenient, the INSOMNIAC kiosks make self-storage renting more convenient. (And more profitable for those who offer that convenience).

 

Garrett Byrd is VP of Development at Storage Authority LLC. www.StorageAuthorityFranchise.com  .   He can be reached at Garrett@StorageAuthority.com or directly at 941-928-1354 to answerer your self-storage franchise, development, marketing, sales, and operational questions.  Storage Authority helps busy professionals make an additional six-figure income while keeping their current career.

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

 

Feb. 2019 Newsletter

Storage Authority® News

We are going to be visiting our Walters Road Houston TX facility in March.  If you are in Houston March 7-9 and would like to learn first hand more about Storage Authority send Garrett an email at garrett@storageauthority.com today.

If you want to learn more about Ed & Jenny’s Houston facility check out their website.  And it would be great if you left them a congratulation, way to go, 5-star review on their website. Storage Authority Walters Rd. 

We are also going to be in Las Vegas April 2 & 3 for the Inside Self Storage Convention and would love to get coffee with you. Again send Garrett an email at garrett@storageauthority.com today so we get you in our calendar.  As you may recall our CEO Marc Goodin will be the Moderator for the session Using Data-Driven Technology to Make Self-Storage Investment Decisions.  See you there.

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As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, financing and building a premier self-storage facility and to understand the options and prepare accordingly.
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If you want to learn more about Storage Authority Franchise 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 Highlight

Supply Side USA

It is amazing how many things you have to consider when you first set up your retail merchandise center in your office. And that is why we are so happy to have Supply Side USA as our supplier of locks, boxes, packing and moving supplies.  Not only do they have higher quality products but they are ready to jump in to help you get set up.

This includes providing a first list order and a planogram for your merchandise.  And they have branded products with great prices with reasonable quantities.
.

They also have steel slat walls than help makes your office have the first class look that is a must. If you have merchandising questions or are ready to make an order send Mark an email and let him know we sent you.
Mark Petro
National Account Manager
mpetro@supplysideusa.com
https://www.supplyside.com

Nine things you need to know about Merchandise Sales. 

1. A minimum of Two – 4′ x 8′ slat walls are needed for a great showroom. My favorite slat wall colors are white, red or steel.  The initial slat walls and hooks take time so order long before it’s time to open.  At least a half of a slat wall should be used for your branded locks

2. Locks will be your number 1 seller.

Here is the Storage Authority branded lock by Supply Side USA.  Notice the $17.50 price. We have them on sale for $12.99 and sell one to every renter.
3. Boxes are your next biggest seller after locks. And 95% of your box sales will be the standard small, medium, larger or clothes boxes. So if your office is limited in size no need for other box sizes.
4. Boxes should also be sold in bundles of 10 to increase volume sales.  We promote ten packs for the price of 9 boxes.
5.  If you make and sell a box combo – 2S, 4M, 2L with tape & tape dispenser it will be your best box seller.
6. For a good look and portable for cleaning and relocating occasionally your ten packs of each size box can be stacked on a dolly.
7. Most self-storage facilities sell considerably under $500 a month in products because managers are not trained well and do not ask for the sale.  A good manager to renter ” Did you know it takes 30 boxes to move an average home.  Will you be needing any boxes today?  We have a special on ten packs or our combo pack”
8. All items prices should be clearly marked with professional signs.  No handwritten signs.
9 In addition to a sales tax number, you need to get a resale certificate from your State so you do not have to pay sales tax on the merchandise you purchase to resell.

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Storage Authority® experts are ready to help you every single step of the way, from finding land to building your facility, to operations, to driving your revenue year over year.  If you have a question give us a call. Team up with the experts to save time and maximize your profits. Call Garrett at 941-928-1345 for more information.

ARE YOU READY?

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

“Earn trust, earn trust, earn trust. Then you can worry about the rest.”
– SETH GODIN 

Order your Self Storage Books Here!

Recent Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room
How to Make a Million Dollars a Year in Self-Storage. By Marc Goodin
Speaking At ISS Conference

Storage Authority Video of the Month

Storage Authority Pre-Opening Preparations

 

What Makes You Happy and Excited to be Alive?

“I love reading”
Marc Goodin CEO Storage Authority

Reading is relaxing for me because my mind is released from day to day thinking while I read.  

I read mostly motivational books. It strange in a way as you would think after reading a dozen or so you would get tired of them but I never do. The best ones are told in story form.   I will read a novel now and then but it has to grab my attention in the first several pages or there is no chance I will finish it.

Maybe reading helped my dreams, including my self-storage dreams, come true?

I really don’t have favorites I enjoyed the 4 books above.

I offer to purchase any motivation, sales or marketing book my manager would like to read. Only the great managers have taken me up on my offer.

Of course, the first book my employees have to read is my best selling Self Storage Marketing book.  Crush Your Competition You can get your copy here www.SelfStorageMarketing101.com

If you have not read my Self Storage Development book send me an email for your free copy Marc@StorageAuthority.com

 

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Storage Authority
677 N Washington Blvd.

Sarasota FL 34236

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

How to Make a Million Dollars a Year in Self-Storage. By Marc Goodin

 

You could be president of one of the major self-storage Reits who makes over 9 million dollars a year. Or you could be one of the 9 guys who work for the same company who make over a million dollars a year.  Not likely to happen for you?  I understand. I don’t want to work for 20 to 30 years and hope I rise the top management either.

Do you think you could build a single self-storage?  If you could do that I am sure you could build one every two years if that was you your career.  People are doing just that and making profits and that is why you see self-storage being sold at the certificate of occupancy (CO)

That is really what this article is about. How profitable is it to build a self storage and sell upon completion?  Apparently very profitable.  I have heard experts say a newly build Class A facility at the certificate of occupancy (CO) is worth up to 40% more than the total invested.  If you build one of the mega 100,000+ square foot highrise’s it is clear it will put millions in your pocket if you sold it upon completion, even before you rented a single unit.

Let’s take a look at the numbers for a more reasonable project.  Let’s look at a single story 60,000 square foot $5,500,000 project. First, let’s see how this looks with some estimated development numbers:

Construction cost & soft costs – $65/sf       $3,900,000

Land cost:                                                     $1,100,000

Additional soft/caring cost                             $500,000

Total Development cost                               $5,500,000

At 40% profit, it would sell for $7,700,00O and leave a $2,200,000 profitless selling cost. Even if we are off by 50% that would leave a $1,000,000 payday.

I went on List Self Storage to see if I could find any facilities for sale at CO.  I immediate came across a 69,000-sf facility being sold at CO in Colorado Springs for $8,700,00.

co

Using approximately the same unit cost from our example we would get:

Construction cost:  69,000 sf x $65/sf            $4,485,000

Land cost                                                               $1,500,000

Additional soft/caring cost                                 $500,000        

Total Development Cost                                $6,485,000

If they got their asking price that would be $8,700,000 – $6,485,00 = $2,215,000 profit.

Screen Shot 2019-02-21 at 11.09.23 AM

Wow! Now you can see there are a lot of variables and the only way to know the answer is to have the actual construction cost and selling price.  But my point is all about sharing why self-storage is a good investment and has one of the lowest failure risks, if not the lowest, for real estate investments. I can not promise these types of profits.  And I would be the first one to recommend a feasibility study early one by a third party expert to help you understand the cost and value of a specific project early on.  I am certainly not advocating you build self-storage and sell at CO.  In the end wealth is not how much money you make every year but how much you save. And owning self-storage naturally puts “money in the bank – retirement income” for when you do decide to sell and pays you well until that point.  And of course, typically pays well once it is rented.

I believe you will make millions more by holding on to your facility for the long run than selling at CO and that it is the best way to build a lifestyle. I would rather see you fill the facility up and make $200,000 profit every year and down the road have an asset that could be sold or refinanced for millions more in profits.  One of my goals is to help future self-storage owners become self-storage multi-millionaires so I can have few more fishing buddies around the US.

If you want to take a look at ways of increasing your profits check out: Make an Extra $3,000,000 by being prepared when you open!

To Success!

Marc

 

Marc Goodin is President of Storage Authority LLC. www.StorageAuthorityFranchise.com  He owns 3 self-storages he designed, built and manages. He has been helping others in the self-storage industry for over 25 years.   He can be reached at marc@StorageAuthority.com or directly at 860-830-6764 to answerer your self-storage franchise, development, marketing, sales, and operational questions.  Storage Authority helps busy professionals make an additional six-figure income while keeping their current career.