March 2018 Newsletter
We want to welcome two new franchise owners; Robert from Massachusetts and Don From Texas! Our new master development checklist added to our Development Dynamic Ease Series will make it much easier to keep on track.
And we want to congratulate Scott from Florida and Ed from Texas for breaking ground on their new self–storage Projects.
This picture may just look like your ordinary bulldozer but for Ed, it is a milestone as it means he found land, designed his project & obtained approved, obtained financing and he is on his way to making his self–storage dreams come true. You can read an interview on our blog with Ed about his StorageStorage Authority experience to date here.
Tips You Can Use Today:
Even before you look for the land you should have your engineer and architect on board so you can move forward swiftly.
When you find a piece of land you need to be ready to do a concept plan in hours, not days in order have a preliminary concept of how much square feet will fit on the property.
When you make an offer it is critical to have your counter-offer ready. A quick counter offer lets them know you make decisions quickly and will not take forever to get your project approved so can buy the property faster.
Here is Ed’s building 1. It is important to beef up the office area to give it that first class appearance. Also even if you do not have unit access along the street frontage it is important to install faux doors. The best self–storage signage is a row of self–storage doors.
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. _______________________________________________________________ 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)
Just a short year ago it used to take two days of hard work to do a mini demand study to determine if you should make an offer or do a further review. Now you can do the same mini demand review in less than an hour with Radius.
In one simple screen for a chosen radius you get:
The locations of the existing self–storage and a ton of info on each one.
Demographics including population, # households, income & more.
The total square footage of the existing self–storage broken down to gross and net square feet and climate control and no climate control.
The existing sf of self–storage per person.
Self–storage pipeline info
Rental rates for existing units
And this is just the beginning. Zoning, drive time analysis and much more will cut your decision time drastically. You need to check out their website: https://www.unionrealtime.com/radius.html
I highly suggest you take up James de Gorter’s,(Co-founder of Union Real-time) offer to provide you a demo. You will not regret it!
Here is a link to set up an appointment on his calendar and his contact info: https://calendly.com/radius-team/radiusdemo
Radius tips you can use today:
7-8 sf/per person of self–storage can be a good starting point of self–storage at equilibrium if you do not have local self–storage averages.
You can simply move the Radius anywhere on the screen to compare different densities of self–storage in a given radius. And you can visit areas from low density to high density to get an idea of what density the occupancy falls off.
Union real-time Radius allows you review a specific address but since you can move the radius on the screen and at the same time see the sq ft of self–storage per person it is a great tool to help you decide where are the best locations to look for self–storage.
Industry News & Tips You Can Use Today
1. If you are going to be at the National Self Storage Association Orlando Convention March 14 & 15, 2018 be sure to send us an email we would love to meet up with you. Garrett@StorageAuthority.com
2. With Open Tech’s newest CIA Access Control systems you and your clients will notice the difference. Battery backs up access during power outages are no problems. And customers don’t even half to roll down the window to enter a keypad number as it will be sent directly from their cell phone. And just as important they have great prices!
3. Make sure when you order your entrance ground sign it is clear if it is one-sided or two-sided. Sounds simple but haha easy to get wrong.
4. When purchasing your facility blower, disc grinder, and shop vac go with rechargeable battery back up as you can move more efficiently throughout the facility without dragging around extension cords or worrying about your oil to gas mix on your blower.
5. Quill.com is a great place to order your office supplies and if you set up an account most orders ship free and the next day. One less stop for your manager to keep all needed supplies on hand to keep the office moving efficiently.
Self Storage Articles
1) Asset Class Returns:
According to the National Association of REIT the self–storage sector produced an average annual return of 17.43% from 1994 – 2017. For comparison here are the returns from some other REIT sectors during that same time:
Manufactured Homes: 13.27%
S&P 500: 7.54% (https://dqydj.com/sp-500-return-calculator/ )
One of the most consistently reliable commercial real estate investments? Self–storage units. And a new study showing how much Americans are willing to spend on these units each month shows just how solid this investment type can be.
Interested in self–storage rents across the country? Check out this interactive map from Life Storage. A great tool if you are trying to decide between states where to build.
With Storage Authority on your team, we will 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 we have the answer, we will help get you developed and lease up faster than if you were to go it alone. Team up with the experts to maximize your profits.
ARE YOU READY?
” Nothing in the world can take place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. ” Ray Kroc
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