Revenue management becomes a game of inches how hard to push how fast to push, but most importantly you want to manage revenue to maximize return! At a certain point, you have to realize your only competition is yourself. As long as you are providing maximum value to your customers experience and supporting community, price is literally 6th down on the list to our customer's decision-making.
1.) Convenience
2.) Security
3.) Cleanliness
4.) Lighting
5.) Atmosphere
6.) Price
7.) Accessibility
In our system, we have the ability within our management software to set revenue management on auto-pilot just like the airlines and hotels. The Dynamic pricing model is a nice safety net as you lease up your prices increase.
Revenue management is also an art and a science, and it's starts when you set your rates in the very beginning as a premium facility. Most REIT's (publicly traded self-storage) algorithms will set their prices to capture the price shoppers and then give price increases on months five and nine. We are more transparent with our prices up front for a premium facility and lean on the best guarantee in the industry. Our one-year price guarantee is just one of the five factors we earn our customers business and help them to rent with confidence.
Storage Authority Franchising is about owning your own hometown self-storage business and having the professional systems and knowledge to assist and guide you. We like to say You are in business for yourself but not by yourself. If you are thinking about self-storage you owe it to yourself to contact Garrett Byrd at 941-909-7222 or Garrett@StorageAuthority.com to learn more about the storage Authority Franchise opportunity.