Self Storage: Shopping Competition
Wednesday, May 30
Shopping your competition is essential to keeping your facility competitive. Not just for tracking rental rates, but the overall customer experience and amenities you may not be providing. Regardless of your business model, knowing how your competition performs at every task is essential to help ...
Self Storage: Golden Nuggets 2
Wednesday, May 02
Here is the second segment of the “Golden Nuggets” blog I posted a few weeks ago. If you have not read my other post (Self Storage: Golden Nuggets), go ahead and look at that one as well.These are just a few tips I have learned while managing large facilities and staying active in this industry. ...
Simple Steps to Overcome The Fear of Cold Calling
Tuesday, March 13
If you are queasy at the thought of cold calling, taking sellers calls, or simply networking, then understand that you are not alone. A lot of people are uneasy doing any of these tasks. I can say with confidence that talking on the phone, at any level, to anyone, was the most nerve racking exper...
Increasing Retail Sales at Your Storage Facility
Monday, February 12
Increasing retail sales at your facility is crucial to growing the overall revenue and value. This is not always as easy as it may seem. You can’t simply put items out and expect to sell a significant amount of product.Here are a few ways to increase your retail sales.DisplayFully Stocked- People...
Power in Partners: Leverage
Wednesday, January 24
Partnering with another investor can be a huge advantage, and even a critical step to massive success. Partnering is a form of leverage, and leverage is everything in real estate. You can’t grow to any significant level without some sort of leverage. Whether you are completely new or experienced,...
Self Storage Profit Centers
Wednesday, January 03
The value of a self storage facility is based off of the Net Operating Income (NOI). Gross operating income minus operating expense equals NOI. Divide this number by the cap rate and you get the value of your facility. Increasing this number means increasing the assets value.Every dollar counts i...