by Marc Goodin, CEO of Storage Authority, the only self storage franchise in the US.
100 – 3 – 1 Boom Land Under Contract!
Finding land is a math equation: 100-3-1. Research 100 properties. Make 3 offers. And purchase one property.
Most people research 12 properties the first month, 10 the next month. The next month they have friends flying in and a birthday party to go to. The next month it is raining. And the next month they say it does not work.
You need to understand the math. ½ x 10 does not equal 5. It equals zero. You do not get credit for showing up.
You have to understand the research. Looking at the 1-acre lot next to your house does not count as researching a property. If you can reject a property in 15 - 30 minutes does not count as researching a property.
For the goal of building 80,000 gross square feet you or your agent should be able to quickly check the following 6 items in 15- 30 minutes:
· The property is for sale
· Zoned for self-storage
· 5 usable acres or more
· The asking price is under $1.5MM
· The area prices of the competitions 10 x 10 non cc in the office is $130 or greater
· On a main road
Often it only takes a couple of minutes to reject a property because it is obvious it does not meet the criteria of one of these so you can move on.
Cheers & happy hunting.
Marc
Do you want to know more about self storage, storage Authority, and if you qualify for a Storage Authority Franchise?
If you fill out the application (apply icon on our website www.StorageAuthorityFranchise.com) you can have your answers in a week.
Or we can have a 10-minute call today and not only will you know if you qualify, you will learn the basics of what is involved in developing and operating a self-storage business. Give me a call or let me know a couple of good times to call you. (Let me know the time zone - I am Eastern Standard Time)
Or better yet let’s meet up in Sarasota, FL for a day!
Marc@storageauthority.com or 860-830-6764
Marc Goodin is the President of Storage Authority Franchising. www.StorageAuthorityFranchise.com The only self-storage franchise. He owns 3 self-storages he designed, built, and manages. He has been helping others in the self-storage industry for over 30 years. He can be reached at marc@StorageAuthority.com or directly at 860-830-6764 to answer your franchising, development, marketing, sales, and operations questions. His best-selling self-storage books are available on Amazon.