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100 - 3 - 1 the secret to finding land for your next self storage!

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 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.



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