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Marketing today includes Promoting Social Distancing!



Marketing today includes Promoting Social Distancing!

Covid 19 Update

Due to recommendations by local, state, and national health officials, we have implemented extreme cleaning and social distancing procedures to protect our staff and clients.

If you need to rent you have three great social distancing options

1) Rent online at www.StorageAuthority.com

2) Call the office and rent a unit on the phone – 860-830-6764

3) Rent at our onsite Kiosk

In both cases, we will give you a free heavy-duty lock that will be waiting for you in your unit.

If you get to the facility and you are not 100% satisfied with your unit we guarantee to refund your money.

If you get here and decide you need a bigger or smaller unit, no problem we can transfer you to the right size unit in seconds.

Social Distancing Payments are also easy

1) Pay at our onsite Kiosk

2)Pay online at www.StorageAuthority.com

3)Pay over the phone 1-860-830-6764

4)Mail a check to the office.

You have to be prepared for different Covid operational options depending on your location your staff and where we are in the Covid 19 process. You may be open with business as usual with additional cleaning and simple social distancing to one client in the office at a time to the office manned but not open to the public. You should have a written plan and window signage as well.

Here are samples of Door signage for different situations

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In today’s business environment you have to get it right day in and day out.  And the best way to do that is with an experienced team like Storage Authority

Marc Goodin is President of Storage Authority Franchising.  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 development, marketing, sales and operations questions.  His best selling self storage books are available at Amazon.

Jan 2, 2020 Press Release: Storage Authority is Growing Again

 

unnamed-11 Storage Authority Monmouth Rd NJ

Storage Authority opened a new franchisee owned self-storage facility on December 15, 2019.  Storage Authority Monmouth Rd is located in Millstone, New Jersey. www.StorageAuthorityMonmouthRd.com  Upon total build out it will be 83,375 SF.  This is Storage Authority’s 5th open facility. They presently have open facilities in CT, FL, NJ & TX.

 

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Storage Authority Land O’ Lakes, FL

Storage Authority’s 6th facility is under construction in Land O’ Lakes, Fl and will open this summer.  This will be their second FL facility.

On December 20th Storage Authority awarded its 5th Florida Franchise. Storage Authority is positioned to award a new franchise every month in 2020.

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Storage Authority Mulberry Office

Storage Authority Walters Rd, Houston, Texas, and Storage Authority Mulberry FL which both opened late April of 2019, have rented over 550 units and each location is preparing to start phase 2 in the first quarter of 2020.

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Storage Authority Walters Rd, Houston TX

Presently Storage Authority franchisees are looking for land in the Northport FL, Davenport Fl, Houston TX, Tampa FL, San Diego, CA, Philadelphia PA, and several other areas.

Storage authority is the only traditional self-storage franchise in the US. They are based in Sarasota FL and have franchisees from coast to coast. Storage Authority is uniquely positioned to help busy professional own self storage, the number one real estate investment in the US, while they continue their careers. Check out our Storage Authority Photo Gallery to see our development in action.

If you would like to get additional information on becoming a franchisee please call Marc Goodin at 860-830-6764 or provide us your email here:

storageauthorityfranchise.com/opportunity1/

 

 

 

 

 

 

The Pros and Cons of Self-Storage Franchising: Is It the Right Path for You?

A great article on The Pros and Cons of Self-Storage Franchising recently posted on  Inside Self Storage  this site is the best resource for our self-storage industry if you haven’t already been receiving their monthly magazine be sure to sign up now, information enhances everything!  SUBSCRIPTION INFORMATION:

 

Market conditions have made franchising a viable model for self-storage owners and investors. Explore the pros and cons to see if being a franchisee is the right choice for you.

Marc Goodin | Dec 17, 2019

For the direct link to the article click here or continue reading below.

An owner or investor looking to get into the self-storage business or expand his portfolio has a few options: build a project, buy an existing facility, or join an investment group that does one or the other. Now, there’s yet another choice on the table: franchising.

Franchising combines the expertise of a franchisor with the resources and entrepreneurial drive of a business owner to form a mutually beneficial relationship. The model provides an economic opportunity for each party based on talent, initiative, and dedication. Typically, a self-storage franchisee will own 100 percent of his business and run it under a licensing agreement. In this arrangement, you’re in business for yourself, not by yourself.

Franchising began more than 40 years ago with companies like Holiday Inn and McDonald’s, which enabled owners to build businesses quickly because they didn’t have to reinvent the wheel. It didn’t take long for many would-be owners to see that economy of scale, support systems, branding, training, and increased profit could all be obtained by owning a franchise.

By far, franchising is among the most successful business models used by entrepreneurs. Many people’s lives and fortunes have been changed for the better because of it. Today, there are nearly 1 million franchises in the U.S. This number grows every year, as more individuals seek business-ownership benefits that aren’t as easily obtained by starting their own ventures.

Franchising and Self-Storage

Franchising is a relatively new concept in self-storage. Twenty years ago, the need for industry franchises wasn’t as great because the competition was limited. Now, there’s a demand for ways to enter the field.

While self-storage is still one of the greatest businesses on the planet, it has many minefields and traps that must be avoided, on both the development and operational sides. A few simple mistakes can cost you hundreds of thousands of dollars. This has made franchising much more attractive.

Until recently, struggling owners had few places to get support. They could always sell, of course, or turn over their facilities to a third-party management company. Outside management is certainly an option for independent owners who are willing to accept a smaller share of profit and don’t wish to be involved in the day-to-day operation. Franchising, however, is a great alternative for those who want to actively run their business. Let’s look at the pros and cons of this alternative.

Franchise Pros

It’s easier to get financing. Lenders prefer to extend money to franchise operations vs. independents who have never previously built or owned self-storage. With a franchise, you even still qualify for loans under the Small Business Administration.

It provides essential infrastructure. An owner who partners with a successful franchisor has a higher likelihood of success than someone starting a business from scratch. In fact, there are many benefits to sharing strategies and solutions with a network of franchisees rather than stumbling down the path alone.

On the development side, a franchisor is an experienced partner that assists with the land search, design, construction, and lease-up. Not only can this save you from costly building mistakes, it typically reduces development time.

On the operations side, some owners simply aren’t equipped with the sales, marketing, customer service, and other necessary experience to make the business work. Many can’t keep up with ever-changing technology. A franchisor can provide operational systems to capture high market share at premium rates as well as a scalable platform capable of competing with and surpassing the competition.

It provides valuable mentorship. It’s difficult to beat the combination of a franchisor’s systems, platforms and knowledge and an owner’s excitement and commitment. The relationship offers the owner several layers of mentorship.

A good franchisor will provide written, step-by-step development and operational manuals, guidelines, checklists and, most important, regular communication and guidance to save you time and money. It should also help ensure your facility is equipped with the high-touch, high-tech feeling savvy renters require. Having an experienced franchisor on your team who’s designed, built, owned and managed multiple facilities can make a substantial difference. Imagine having experts, who’ve gained their experiences in the trenches, ready to personally help you succeed.

It offers a quicker rate of success. It’s natural to want to pit franchise fees against the value such an agreement provides. The bottom line is a franchisor should be able to help you earn profit you couldn’t make on your own as well as reduce risk, save time and make life more enjoyable. A franchisee with a high-end sales and marketing platform can typically set rental rates 10 percent higher than what most startups could command on their own. This should more than offset the cost fees.

Not only should you be able to charge higher rates with the help of a franchisor’s experience and guidance, but you should also be able to rent more units. It takes less than 20 extra units per year to pay a franchisor’s services a second time. Before you complete your first month of operation, you should be able to generate more than enough additional revenue to negate franchise costs, and it should only get better moving forward.

Franchise Cons

It requires a full buy-in. For your franchise to work, you must be willing to buy into someone else’s system—completely. If you believe only your way is the right way, then franchising isn’t for you. Ask yourself whether you feel the fees are well-justified and you’re willing to take guidance from others. If not, don’t become a franchisee.

You must actively participate. If you don’t want to have any part in managing a self-storage facility, then owning a franchise isn’t for you. Instead, hire a third-party management company.

It must be a good fit. Every franchisor has a business philosophy that may or may not match your own. While one model may be based on something very basic and inexpensive like a Motel 6, another may push for unparalleled service, sales and marketing like The Ritz-Carlton. It’s important to gauge whether you and a potential franchisor are a good match.

It takes commitment. Franchising isn’t for owners who plan to sell their facility upon obtaining a Certificate of Occupancy or shortly thereafter because franchises typically have a multi-year term. Make sure you’re aware of any early-exit policy.

When considering a self-storage franchise, consider what you envision for your operation. How much involvement and say-so do you wish to have? The best way to figure out the right path for you is to dig in and research. Franchising is a viable model in today’s market conditions. If you’re ready to take the plunge and have confirmed you’re a good fit for this model, get ready to be empowered for success!

Marc Goodin is president of Storage Authority LLC, a self-storage franchise, and the owner of three self-storage facilities that he personally designed, built and manages. He’s been helping others in the industry for more than 25 years. To reach him, call 860.830.6764, e-mail marc@storageauthority.com, visit www.storageauthorityfranchise.com. You can also purchase his books on facility development and marketing in the Inside Self-Storage Store.

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.
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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.

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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.

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 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.

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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.

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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.

Speaking At ISS Conference

The April 1-4 Inside Self Storage Expo in Las Vegas is a great place to learn everything self storage! And you get an opportunity to talk directly to the vendors and learn face to face about their products and services.

I would love to meet you there.  Shoot me an email and we can make plans. marc@storageauthority.com

MG ISS

I will be moderating the educational session on Using Data-Driven Technology to make self Storage Investing Decisions.  If you are looking to build a self storage in 2019 you will not want to miss this session.

One of the recent improvement and availability of Data that is had major leaps in the past 2 years is information on the competition.  Everything from their location, size, and pricing is available.  It is important to understand how accurate the data is and other limitations fo the data when using this data.

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The mini feasibility study can now be done in hours vs days due to this new data-driven technology.  Here is a link to an article I recently wrote for the ISS magazine.

https://www.insideselfstorage.com/site-selection/how-perform-mini-demand-study-potential-self-storage-site

Imagine what 2019 will bring!

Cheers

Marc

 

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

Every once in a while there is a technology that is fun, easy to use and cheap that every business has to have to first hit home run out of the park and them eventually just to survive.   I believe voice command technology (especially combined with other technology) will be one of  the big hits for self storage in 2019 and moving forward.

We are heading out to Texas early next month for training for a new Storage Authority facility. www.StorageAuthorityWaltersRd.com  

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We are very exited to help Ed and his team become self storage experts. And we are also excited to see  Alexa in action at a self storage for the first time. Self storage technology is swiftly evolving and everyone will need to include High Tech – High Touch platforms and systems if they want to have high end profits and Crush your Competition.

Alexa who was the last one on site? Alexa how many renters are on site?   Alexa open the gate.  And this is just the start of voice command opportunities to make your self storage managers job more efficient and to impress your renters for more self storage profits.

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Alexa,  can you answer Mr. Goodin’s question, Can we give him a discount?

Mr Goodin I understand your concern, You want to get the best value for your money. I am sure you can agree we have the nicest facility in the area and provide exceptional value. And you know Sally the manager and I will work hard every day to earn your business.  If we we started giving out discounts we could not be able provide our customers the service and value they deserve and expect.

Mr Goodin would you like to get that unit in your name today?

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Storage Authority is happy to be partnering with Open Tech Alliance to insure we have the high tech that our clients want and deserve.

It is time to get past management and become self storage leaders!

 

 

 

July 2018–Roof Tops are on Getting Ready to Rent

July 2018 Newsletter

Storage Authority Construction News

The roofs are on at Storage Authority Walters Rd in Houston Texas. Time to start taking reservations!  The typical feasibility study will have you renting 10 – 15 units in your first month.  With Storage Authority’s pre-opening marketing plan we aim for 30 – 60 units rented in the first month.

Storage Authority Walters Road is a single story facility, but as you can see here it is important to beef up the office area to help provide that “just feels right” feeling.

The concrete pads have been constructed for Storage Authority Mulberry FL.  This project will also provide vehicle parking including RV & Boats.

We are excited that our Storage Authority Franchise owners from the Tampa Fl area had their land offer accepted and are proceeding with their due diligence and site plan design.  We helped them with preliminary concept plans on several properties before they decided on the above parcel.

Land clearing has been completed on the latest Storage Authority facility to start construction in Central NJ.  We estimate a 6 month construction period.


Construction is exciting but preparing for construction and post-construction is what is going to make Storage Authority facilities premier facilities.  Our customers will be able to open the gate simple by driving up to the gate with the Storage Genie.  And it does a bunch of other great things like email or call the facility, or make a Payment from your cell phone.  You can even get a notice when you ( or other you gave your codes to)  have accessed the facility.  We put the renters in control and they love it!  Don’t think you can add it after construction because it does not work that way.

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

We are excited to announce that Storage Authority has partnered with the best self-storage management software available to our industry.  With 10 years of first-hand experience working with Sitelink in the trenches, they are first in class with their innovative features and user-friendly platform.  Their Cloud base platform is second to none when it comes to running an efficient smart connected facility that enhances the customer’s experience and reduces the facilities overall cost.

Here are just a few reasons why we went with Sitelink:

1.) Training: With Sitelinks certified professional training course with ongoing, training videos and webinars anybody new to the industry can be brought up to speed in a short amount of time. Even seasoned managers can polish their self-storage skill set.

2.) Support: The amount of real-time support Sitelink provides is unbelievable. During operation hours you or your staff can call in for real-time support to walk through any procedure or resolve any issue if need be they have a built-in tool where they can remotely log in instantly to assist you.

3.) SiteLink eSign is the legally binding signature capture component of eFile Management, allowing owners to execute, track and store leases, insurance forms, and other documents electronically.  Sign in-store, on your website or send leases by email and track progress throughout the signing process, including quick lease audits to ensure proper completion.

4.) Customer Relationship Management (CRM), SiteLink delivers more leads and automatically saves reservations from all of your lead sources such as websites, listing services, and call centers. Automatic follow-up reminders for managers and notices sent to prospective customers turn more leads into rentals.

5.) Revenue Management: SiteLink Price Optimizer provides the industry’s best toolbox for managing price lists and tenant rates. You can set parameters to “push” unit rates based on occupancy percentages. Push rates are calculated daily, similar to the airline industry’s demand-based pricing.

6.) TOTAL Accounting & Reporting: SiteLink manages your financials and integrates with the accounting software of your choice. Track financials with confidence using cash or accrual basis methods. Reports are always just one click away. Access real-time reports on any computer or mobile device such as smartphones and tablets.

Overall, as Storage Authority grows and scales we are aligning our selves with the best in business and Sitelink Management software checks that box with their cutting-edge technology.

Industry News & Tips You Can Use Today

5 Tips You Can Use Now

1. Free Demand Studies: Now you can get the information on your 3-mile competition, including existing building square footage, rates, population, unit pricing, in minutes for more than a dozen locations FREE.  Check out RADIUS here  radius.unionrealtime and get your free credits now!

If you need help understanding  the data take a screenshot and email it to Garrett@StorageAuthority.com

2. Get your own Storage Genie: Email sklein@opentechalliance.com and she will tell you how.  Let her know Marc from Storage Authority sent you.

3. Reduce your construction time by: including a construction schedule in your contract.  And by requiring a detailed written update every week of the next two weeks schedule and completion date.  The office is the last thing completed.  Make sure the contract requires the office foundation and building to be done first.

4. Have some fun: Required your contractor to upload photos weekly to a private photo sharing site for your viewing.  You can share with others like your engineer, Architect, and your family.  Pictures tell a 1000 words so they often help between visits in many ways

5. Don’t end up with a sub-par website. Owners spend millions building their facility and are losing money every week because they skimped on the website. Make sure your web provider has built a few hundred self-storage websites and understand SEO. It is time to take online rentals!  We recommend you call Christina at G5 for your website design at 541-306-3383.

Storage Authority experts are ready to help you every single step of the way, from finding land to operations, to driving your revenue year on year.  If you have a question give us a call. Team up with the experts to save time and maximize your profits.

ARE YOU READY?

 

Recent Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

Are you planting enough Acorns for real oversized Self Storage Profits?

The 3 Big Myths About Rental Rates

Recent Storage Authority News Letters

June 2018 Newsletter Self Storage Development–Aerial Drone Video

May Newsletter 2018–New Self Storage Construction Photos

April 2018 –Advantages of Buying a Self Storage Franchise

 

Storage Authority Video of the Month

Storage Authority Franchising Development Series
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Storage Authority
677 N Washington Blvd.
Sarasota FL 34236

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

Are you planting enough Acorns for real oversized Self Storage Profits?

 

How much would it cost to buy huge forest of Oak trees?  Likely more than you and I have to spend.  But they all started with an acorn.  An acorn that was free.  To many people are wasting more and more good money trying to find the right “paid for marketing” that will make them oversized Self Storage Profits when they should be planting thousands of free acorns.

Take a look at this email I received from my manager last week.  8 Rentals in one day.  Seven on the phone (notice the P for phone rental) and 1 walk in.  Was this because we have a great manager? No, Kate is great, but this was just her third week on the job.

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Was it because the nearby University of Connecticut is about to get out for the summer and all the students picked us because our prices are the lowest. Heck no, the guys right down the street rent a 5 x 10 for the summer for a total of $195 and we are $399 for the same summer rental.

So, what is the secret?  We plant thousands of acorns every year. Here are just a few that led up to that one day of fun phone rentals.  Which by the way are part of 150 rentals we will do in 45 days.

1  Our new manager of 3 weeks had a detailed manual that included rental scripts that must be followed.

2  Before she was hired Kate reviewed and practiced the scripts with us and agreed to use them word for word.

3  We did the hard work of role playing.

4  Our manual was clear it is our goal to rent over the phone to every caller.  And if we do not, we get their number and call them back in 2 days.

5  On every call we promote our facility, “show them a unit on the phone”, confirm the size is the right size for them, provide the price and say “would you like to get one in your name before they are all gone”. Then we take a full month’s payments – we only rent – no reservations.  FYI – next to none cancel and around 1 in ten transfers to a larger size.

6  Our manger is accountable daily and emails us every day detailing both the walk in and phone rentals and the walk ins and phone calls who did not rent.

 

To rent 8 units that day we had to more than be good at helping our clients finding the right unit for them.  We had to get them to call or stop in, in the first place.

 

7  Month after month we add all move out emails and other town and university emails to our mail chimp site for our newsletter.

8  Two week earlier we sent out a mass email via mail chimp letting the UCONN students know we love them and would provide them a free lock if the prepaid for the summer.

9  Earlier in the spring we were the only self-storage to attended the University student fair.   We handed out hundreds of cards and simply said have your mom or dad give us a call and we will take care of everything with them over the phone and they will just need to stop in and sign the lease.

10   For the last two weeks we had a table at two banks, one on campus and one in Town that highlighted our self-storage.  We bought $200 of candy and other goodies to make sure we attracted everyone in the bank to our table.  When my wife GP asked, did we really need to buy 50 lbs. of candy I reminded her each piece of candy is an acorn planted.  If we rent just one extra unit because of the candy it will pay for all the candy. And many non-students will see our name one more time so when one day when they need storage they will think of us.  And the great part is many students rent from us for 4 years!

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11  We had already completed spring cleaning inside and out so both our employees and our renters are impressed.

12   Every morning we put out our Open banner and our sandwich board for thousands of people to see as they drive by.  This month one side reads Spring is here! and the other “We love UCONN.

13  Not only do we have a huge candy bowl but we also have a premium candy like York Candy right next to it.  Who could resist “Can you stop in this afternoon?  I know you will be very impressed with our facility and I have York Peppermint Paddies with your name on them”

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Have you been planting acorns day after day or just wasting money?

Why be motel 8 when you could be the Ritz?

 

By Marc Goodin

President of Storage Authority

Author of Cush Your Competition,

102 weeks of guerilla marketing for oversized profits for your self-storage.