By Garrett Byrd
The Journey to Successful Self-Storage Land Development: A Numbers Game
The Key Principle: Persistence and Strategic Research
Developing a successful self-storage facility is not about luck, but about systematic effort and understanding the mathematical reality of land acquisition. The core formula is simple: 100 properties researched, 3 offers made, and 1 property ultimately secured under contract.
If I told you you have to get through 100 no's to find your perfect parcel to develop your self-storage facility how fast would you be working on getting those no's?
Efficient Property Research Criteria
To effectively find a suitable self-storage development site, quickly evaluate properties against these 6 key criteria:
1. For Sale Status: Confirm the property is actually available
2. Zoning Compatibility: Zoned for self-storage use
3. Size Requirements: Minimum 5 usable acres
4. Price Point: Asking price under $1.5 million
5. Market Potential: Local 10x10 storage unit rates above $130
6. Location: Situated on a main road
Pro Tip: Most properties can be evaluated and potentially rejected within 30 - 60 minutes by systematically checking the criteria above.
Why Most People Fail
Many aspiring developers make critical mistakes:
- Inconsistent research (10 properties one month, 8 the next)
- Making excuses (bad weather, social events, lack of time)
- Believing partial effort counts as real progress
The Hard Truth: Partial effort equals zero results. You cannot expect success by doing half the work or making sporadic attempts.
The Mindset of Success
Developing a self-storage facility requires:
- Consistent effort
- Methodical research
- Mathematical precision
- Rejection tolerance
-The Right Team in your corner
Remember: In this business, 100 "no's" are just steps toward your one "yes" that will become a successful development project.
Join the Storage Authority team at our virtual round table webinar to discuss all of the attendees' high-level questions and some of the biggest blunders we have seen in development to operations. It's our way to give back to our industry, your success is our success!
Storage Authority Franchising is all about owning your own local self-storage business, supported by professional systems and expertise. We like to say, "You're in business for yourself but not by yourself." If self-storage is on your mind, don't hesitate to reach out to me, Garrett Byrd at Direct: 941-928-1354 or Garrett@StorageAuthority.com to learn more about the Storage Authority Franchise opportunity.
If you would like to learn more and start your journey to self-storage ownership click the link here: http://www.storageauthorityfranchise.com/opportunity2
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