The 3rd Party Self Storage Feasibility report falacy
- Jun 20
- 2 min read
I have seen it in every feasibility study. Blaming the manager for poor operations and results.
Here is how it reads:
"The Manager. There are very few business models that are as ‘manager-centric’ as self-storage. Oftentimes, customers do not remember the name of the facility, but they almost always know the name of the manager. We believe that an A+ facility with a C- manager is a C- operation. It is critical that a self-storage company hire, train, and develop on-site managers at the highest level."
A facility has a C manager because the facility has a C owner. It is too easy to pass the buck. Maybe the owner doesn't have the time, lives too far away or doesn't have the experience. It should read if the facility has a C owner, the manager and facility will never be a C operation.
Ongoing education is crucial to being a premier self-storage.
You may have a potential A manager, but without training and regular input, follow-up, and discussions, they will not reach their potential.
An A owner will fire the C manager and take the time to train a new manager. Over the years, I have had to fire several poor managers between 7 days and 60 days and start over - a real pain, but there was no choice as I did not want to accept a C manager.
The difference between a C and an A manager is over $100,000/yr in extra income for a large facility.
A franchise helps the manager and owner to be all stars for significant time savings and more profits; most people will never get on their own.
If you're ready to be an A owner, check out: www.StorageAuthorityFranchise.com
Tomorrow I will share the secrets of hiring an A manager. You will be surprised.
Small-business financing deserves careful attention because the most attractive part of an offer is not always the total cost. I would look at the repayment schedule, fees, interest or factor rate, early-payment conditions, and what happens if revenue changes during the repayment period. Having the complete agreement available is important if any term needs clarification later. Before accepting an offer, I’d review titan funding group and consider the experiences of other customers as one source of information, while making the final decision based on the actual documents and terms presented to the business.