July 2017 Newsletter
Storage Authority Franchise Partnership Program
It is often hard to come up with the $400K – $500 minimum cash equity required to get bank financing. Or maybe even if you have it, you are not ready to spend your last dollar of savings. I know this because I was short on equity for my first self storage and took on a 50 – 50 partner. It was the best decision I ever made. This self storage made millions in profits and is still making me good money every month and I now own 2 more facilities. Not to mention the growing nest egg when we decide to sell it. It took me a couple of years of asking around to find a partner. To make it easier for you Storage Authority decided to help potential partners find each other via the Self Storage Partner Registry.
Storage Authority is excited to announce its first of a kind self storage developer match program. Everyday we hear from potential developers who are ready to move forward with their Storage Authority self storage but do not have the cash equity to get a loan. The Storage Authority Match program will put two individuals together to create a joint venture team who will have the typical cash equity required to qualify for a self storage loan and move forward with their joint venture Storage Authority facility. The program has just launched for the state of Texas and will launch for the rest of the US later this summer. Typically, it is for individuals who want to be 50 – 50 partners.
To qualify for the program, you must have a minimum of $200K cash equity you are ready to invest in a Storage Authority self storage and:
Apply and be approved for a Storage Authority Franchise. Apply on line at www.StorageAuthorityFranchise.com
Complete your review of the Storage Authority Platforms & Systems with your Franchise Director.
Complete a one page Match Program questionnaire that provides your geographical limitations and other basic information a potential partner would need.
We then facilitate introductions and we are available to help you navigate a winning partnership and of course the development and operation of your premier Storage Authority self storage.
If you are an investor we also have multiple investment opportunities as well from investing in individual self storages or Storage Authority, LLC.
Parties Interested in the Storage Authority joint venture program or investing in Storage Authority, LLC can email Marc at marc@storageauthority.com for more details.
Vendor Highlights
Dream of owning a Storage Authority Franchise? Don’t let financing stand in your way!
Can Retirement Funds Be Used to Develop a Storage Authority Franchise? By Marc Goodin
Absolutely! Should they be used for a self storage development? While I would not tell anyone how to invest their retirement funds for me the answer was easy. Absolutely! Why not?
Using retirement funds such as 401K, IRA, pensions, 403b, 457, or annuities, you can buy a business, pay for any business expense, and to pay yourself a salary without incurring personal taxes or penalties for doing so. You can use retirement funds for the equity required by the bank and take a loan for the balance.
You can pay yourself a salary as soon in the process as you wish, even before you reach profitability. Since this funding option is not a loan, these funds are actually used to buy stock in your business, and therefore are not a personal distribution or a withdrawal.
The first decision is self self storage for you. Self storage is an active business that will requires time and experience in addition to money. Where as, retirement funds are often invested in vehicles such as stocks and bonds that do not take time. Of course the goal is much larger rewards due to your personal efforts. I may be biased but the best way to get the experience you need for both development, operations, sales and marketing is with a Storage Authority Franchise
The major reason for a retirement funds is so you have funds for retirement. If you could turn $600,000 in your retirement account into several million for retirement would it be worth it? Just like any retirement investment you need professional help insure it meets your investment goals and you understand the risks.
There are required procedures, rules and laws you have to follow and you will need an expert to help you with the process. To learn more about how to use your retirement funds for a Storage Authority Franchise I recommend you contact:
Diane Rosenkrantz, Senior Consultant
Tenet Financial Group
817-887-1720 Fax
Self Storage Industry News
Straight from the Bloomberg press, the article about self storage states there are more than 50,000 storage facilities in the U.S, mom-and-pop operators control about 80 percent of them. While the publicly-traded landlords seek to maximize shareholder value, smaller landlords are less likely to worry about market dilution.
The video is a bit more specific – $600,000 NOI – self storage rents for the same price per sf as apartments but expenses and headaches are much less.
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Storage Authority 677 N Washington Blvd. Sarasota FL 34236
www.StorageAuthorityFranchise.com Garrett@StorageAuthority.com 1-941-928-1354