Advertising Standards Authority 😳

Goood Morning Store Fam..A..Lam

Its HOLIIIDDAAAAYYYY Day at the Booty household 👏

Were popping to Tenerife for 5 days (Wife and kids) ☀️🕶

But … Dont fear 😂 I will still be doing these newsletters 👋

Quieter day yesterday at Store More HQ … Just 2 reservations

On to yesterdays results …..

Self Storage Secrets Course Waiting List

Yesterdays Stats …

• 2 Reservations

• 3 Move Ins

• 3 Move Outs

Lets … Do … This …

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

🤐 A Self Storage Tip - “Advertising Standards Authority Ruled Against A Self Storage Operators Advertising”

🤝 3 Self Storage News Stories

🧐 Yesterday’s figures for each facility

🥸 1 Meme of the day

Self Storage Tip 💡 💰

I didn’t know if I should talk about this or not on a public platform 

However …

When I’m unsure what to do I go back to my first principles for this newsletter and podcast 

I ask myself ..

Will this benefit people in the self storage industry?

On this occasion the answer is yes! ✅

So here we go! 

Last week The Advertising Standards Authority ruled against a self storage operators advertising 

I won’t mention who it is because that isn’t relevant 

The reason I am bringing this to your attention is because we can learn from this ruling 

This particular operator advertised - 

“Get 50% off your storage for up to 8 weeks” and included quotes for a 160 square foot storage unit. 

There was qualifying text further down the page that stated 

“The prices you see above are the prices you pay, No Hidden Fees”.

Pretty standard in the industry I’m sure you’ll agree 

HOWEVER 

What happened after the customer moved in was the issue here 

Remember the line “No Hidden Extras” 

Well this is what got the operator in trouble 

Here’s what happened - 

“Whilst they had paid the reduced price as quoted during the 8-week introductory period and the full

Quoted price for 6 weeks thereafter

They were then informed that the weekly price would be increased to £40, and then further to £60. 

Furthermore, when they were informed of the price increases ….

The price stated on the website for the same storage unit at the same location was £30 per week.”

This is very aggressive price increases 

Ultimately the operator increased their prices from £20 a week (£20 a week is the price after the opening offer) to £60 a week  

That’s a whopping 200% increase! 

This sort of increase is what you would expect in America (The REITS are v aggressive) 

But I can’t remember an operator in the UK pushing prices that much 

Ultimately the reason why the ruling went against the operator was because of the line …. 

“No Hidden Extras”

My personal opinion on the matter is - 

It’s common practise of the industry to increase prices 

The price the customers come in at, isn’t the price the operators what to charge 

Hence a price increases

So I have no problem with this operator increasing prices 

It’s part of the industry 

However … ha that word again.

The 200% increase is a massive increase 

(If I’m honest I don’t know the time period the price went from £20 - £60, 

It could be a couple of years but reading between the lines it was a much much shorter period)

I personally think that’s way too steep 

I wouldn’t feel comfortable increasing prices to that level 

Objectively, I do think when this operator said 

“No Hidden Extras” 

They were referring to insurance etc adding on to the total 

Back to why this could help you reading this, 

Just be there careful with your messaging … 

You could get taken to task like this operator did 

If you want to read the ruling, here’s the link 

Industry News 🧐

• Safe Store Plan To Open New Store In ….

• Easistore to open new site

• Iron Storage Introduces Cutting-Edge Technology to Enhance Facility Management Nationwide

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

Willerby (Hull) … My Big Site

• 1 Reservations

• 1 Move Ins

• 2 Move Outs

Month to Date -

• PLUS 670 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 3

Clough Rd Figures ... The Automated Site

• 0 Reservations

• 1 Move Ins

• 0 Move outs

Month to Date -

• PLUS 1310 Sq Ft

Reservations so far this week = 8

Move Ins so far this week = 5

Beverley … My Baby (First Site)

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• MINUS 480 Sq Ft

Reservations so far this week = 0

Move Ins so far this week = 0

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

• 1 Reservation

• 0 Move Ins

• 1 Move Outs

Month to Date -

• MINUS 380 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 0

Mansfield Figures … My New Site

• 0 Reservation

• 1 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 1760 Sq Ft for the month

Reservations so far this week = 2

Move Ins so far this week = 2

Meme / GIF of the day - 👀 😂

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

Weekly goals -

• Gym - 3 times

• Run - 25 miles

• Boxing - 0

Results so far -

• Gym - 0

• Run - 11 Miles

• Boxing - 0

Yesterday’s Steps - 19,323

Loads of self storage love,

Dean ❤️ 🙃