A UK Self Storage in ADMINISTRATION!!

Goood Morniingggg Store Fam..A..Lam

Loads going on in here today -

• Our 10th Site

• A UK storage company in administration

• Churn Rate explained

Let’s start with the exciting news -

Yesterday me and Gary meet an awesome husband and wife team up in New-Asule … Ha that’s me trying to be cool and say it with an accent 🫣 🤷‍♂️

Its Newcastle for those who dont speak stupid Dean language 😂 

Anyway the meeting went brilliantly, loverly people and we have agreed to take the site on …. Newcastle, Store More are coming 🥳🥳

Shoutout to Sarah Manning (Secure Stores) for introducing us … Thanks MATE!! 🙏 

That’s site number 10 …. Whoop Whoop (Aim is to get to 30 before 2030 starts)

For clarity, we have 6 sites open now -

• Site 7 is South Shields … Opening next month

• Site 8 is our new build indoor site in Beverley

• Site 9 is our new build indoor site in Birmingham

• Site 10 Newcastle (outdoor)

***These aren’t in order of opening BTW

Sooooo people ask why am I sell a program on how to open a self storage ….. Because I need (errr a lot) of money to open my new sites ….

All the money I receive from the program is reinvested in opening more self storage sites … I have no other investments … I’m am ALL IN on self storage (I literally do what I preach!)

So on to the UK self storage in administration (Nationwide Storage) ….

Firstly I feel for anyone going through times like this, it must be difficult for all concerned.

Secondly … I know what you are thinking

“Dean you tell us all the time self Storage is the best investment you can make, how come a site has gone into administration??”

That’s a great question, remember companies go into administration all the time, in all sort of sectors

The only reason this is such MASSIVEEE news is because self Storage businesses just don’t go into administration ….

The ones that don’t a few and very very (one more for good luck …. ) VERY few and far between.

I will go into the reason why I think this site struggled on Tuesday ….

Butttttttt ….

I’ve already spent maybe an hour or so on this and I can tell you there are fundamental things this company could have done better!!

I’ve gotta be careful here because I don’t want to shit on another company who is struggling, but there is always lessons to learn from situations like this

(Id rather learn from the mistakes of others than learning from my mistakes …. Ha you guys learn from my mistakes all the time 😂)

There’s three links in the news section given you more information on this story …. And I will give my viewpoint on it on Tuesday.

Right …. Lets dooo this ….

Here’s today’s newsletter …

• 6 Reservations

• 6 Move Ins

• 3 Move Outs

Lets … Do … This ….

Here's what's coming your way today 😎🎯

🤐 A Self Storage Tip - “Churn Rate“

🤝 3 Self Storage News Stories

🧐 Yesterday’s Figures For Each Facility

🥸 1 Meme of the Day

Self Storage Tip 💡 💰

Let’s talk about one of the most important (but often overlooked) numbers in self storage: Churn.

Churn is the bane of my life haha 😆

In self storage, churn is simply the percentage of customers who move out over the course of a year, compared to your average number of occupied units.

• Churn above 100% = More customers leaving than you have units, so you’re always hustling to fill the gaps.

   

• Churn below 100% = You’re keeping more customers than you’re losing— net retention! Yippie haha

Churn: The Story So Far

Over the past decade, churn has been on a journey of its own:

• 2015: 131%

• 2019: 117.5%

  (A steady drop, showing customers are staying longer!)

Then came the pandemic, and churn dropped like a stone (you couldn’t leave your house, so I guess that makes sense lol):

• 2021: Record low of 76.5%

Since then, things have bounced back a bit, but not all bad 

• 2023: 97.5%

• 2024: 97.1%

• 2025: 96.6%

So, why not all bad??

We’re now sitting about 20 percentage points lower than pre-pandemic churn. That’s a structural shift—and a really positive one!

Why Lower Churn is a Win

• Predictable revenue: Fewer customers leaving means steadier income.
   

• Higher customer lifetime value: People stick around longer, so each customer is worth more.
   

• Lower marketing and re-letting costs: Less time and money spent finding new customers.

The Power of Time: How Long-Term Customers Build Up

Here’s something I’ve noticed from running sites:

• When your site first opens, let’s say in year one you gain 100 customers. Maybe only 10 of those are long-term customers, and the other 90 are short-term.
   

• In year two, you gain another 100 customers. Again, 10 become long-term, so now you have 20 long-term customers.
   

• By year three, you’re up to 30 long-term customers—and so on!

The longer you’re open, the more long-term customers you accumulate.

And as your base of loyal, long-term customers grows, your churn rate naturally drops.

It’s one of the best reasons to play the long game in self storage!

• Lower churn = more stability and predictability for your business.
   

• The industry is settling into a healthier, more sustainable pattern—and that’s something to celebrate!

Industry News 🧐 …

• UK storage company collapses into administration – in business for 25 years

• UK storage company enters administration after 25 years in business

• UK storage company collapses into administration – in business for 25 years

The Fun Bit - My Business .... Bare Butt Naked! 😲🤫🤭

Yesterday’s Results -

Willerby (Hull) … My Big Site

• 0 Reservations

• 1 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 1470 Sq Ft

Reservations so far this week = 4

Move Ins so far this week = 4

Clough Rd Figures ... The Automated Site

• 1 Reservations

• 2 Move Ins

• 0 Move outs

Month to Date -

• PLUS 55 Sq Ft

Reservations so far this week = 5

Move Ins so far this week = 4

Beverley … My Baby (First Site)

• 1 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 295 Sq Ft

Reservations so far this week = 3

Move Ins so far this week = 1

Wrexham's Figures (Indoor) ... My First Acquisition

• 2 Reservation

• 3 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 325 Sq Ft

Reservations so far this week = 5

Move Ins so far this week = 6

Mansfield Figures

• 2 Reservation

• 0 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 415 Sq Ft

Reservations so far this week = 5

Move Ins so far this week = 3

Glasgow

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 80 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 1

South Shields

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• 0 Sq Ft

Reservations so far this week = 0

Move Ins so far this week = 0

Meme / GIF of the day -  👀😂

Health and Fitness ... Move More = Live Longer - 🏋️‍♀️ 🏃

Weekly goals -

• Gym - 3 times

• Run - 25miles

Results so far -

• Gym - 0

• Run - 24.5 Miles

Yesterday’s Steps - 19,261

Loads of self storage love,

Dean ❤️ 🙃