by Marc Goodin
Self storage business owners make a ton more than self storage investors. As an investor, you hand over your money to a company. The company does all the work and takes a lion's share of the profits then hopefully sends you regular operational dividends. And profits when you sell (if you are allowed to sell) or profits when the company is bought out. You spend little to no time choosing a self storage Reit stock or fund and no time operating. But you do not get huge profits that are made by developing and filling up self storage.
The good news is you can invest small amounts of cash in stocks or a stock fund. The bad news is you do not get the larger returns by leveraging both your money and your time.
Here is the and.................. And too often people think of developing and managing a self storage as an investment. ie it takes minimal effort. If you want to make the big dollars you have to think of self storage as an exceptional business opportunity.
If you treat it like a lifestyle business you are a thousand more times likely to be happy and successful. Most Storage Authority Franchise owners join us to build a lifestyle business. They want the opportunity soon, maybe in the next 5 years or so to be able to quit careers and work less than half the time and make more often multiple times more) than they would make at their job. Notice I did not say work zero.
No doubt many self storage owners will sell their self storage to retire or pass it along to their spouse or kids. And that provides a huge retirement nest egg.
If you invest 1MM in the stock market maybe you will double your money in the next ten years. If you invest $1MM (plus the lender's money) in your ground-up self-storage business you should expect to refi long before 10 years to get multiple times your money out and then get 10 times your money back when you sell. Not to mention you no longer have a boss and make a good six-figure income that grows year after year before you sell.
Everyone has to take the time to inventory their goals and decide which option is best for them.
Do you want to have a 15-minute call to learn how Storage Authority helps improve the systems, sales, marketing, and profits at your existing facility? If you are building from the ground up let's review how we help you find land and get your facility designed, approved, and built.
Please send me an email or call me – no appointment is needed:
Marc@storageauthority.com or 860-830-6764
Get more information on Storage Authority Franchise at www.storageauthorityfranchise.com/opportunity3
Marc Goodin is the President of Storage Authority Franchising. 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 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.