Big Yellows Figures - EXPLAINED 👀

GM Store Nation,

Reallllyyyy Excited to share with you a deep dive in to Big Yellows Quarterly results …. I loved doing it ! Thats coming up in the storage tip

In other news, me and the wife are having a trip to harrogate today and spending the night kid free 😍 Bottle of wine with lunch, yes please

Right … Lets dive in

Letss do Thiisss ...

Here's what coming your way today :- 😱 😎 🎯

🤐 A Self Storage Tip - All about BIG YELLOW 🤔

🤝 3 Self Storage News Stories

🧐 Yesterdays figures for each facility

🥸 1 Meme of the day

Self Storage Tip - 💡 💰 🤑

A couple of days ago I mentioned Big Yellows Quarterly Figures in a link and I wanted to go through these a little further in this episode

A deep dive like this is sooooo bloody enjoyable for me so much so im actually doing a podcast on it today as well :-)

For those who dont know the podcast is called - Hacking Self Storage

Right lets crack on a go through the headline figures! #StoragePorn 😍

Financial metrics, Quarter ended 30 June 2023 -

Total revenue for the quarter (1) -

2023 - £48.1 million

2022 - £45.1 million

Change PLUS 6.7%

TAKEAWAY - Love the revenue increase!

Like-for-like store revenue for the quarter (1,2)

2023 - £47.0 million

2022 - £44.6 million

Change PLUS 5.4%

TAKEAWAY - Consistent with above

Store metrics

Store Maximum Lettable Area ("MLA")

2023 - 6,416,000

2022 - 6,152,000

Change PLUS - 4%

TAKEAWAY - B.Y have increased the amount of lettable space … even though the occupancy has gone down. For me this says we believe in the longterm growth of the industry …. Which is great for us!

Closing occupancy (sq ft)

2023 - 5,255,000

2022 - 5,320,000

Change DOWN 1%

TAKEAWAY - Not massive amount down … But down nevertheless. Obviously this is due to the CVID bump we had

Occupancy growth in the quarter (sq ft) (3)

2023 - 167,000

2022 - 174,000

Change DOWN 4%

TAKEAWAY - Same as above

Closing occupancy

2023 - 81.9%

2022 -86.5%

Change DOWN 4.6 ppts

TAKEAWAY - Overall occupancy isnt so bad just 1% down but when you look at it on the average sites it does look sizeable … But there will be new shops in this data

Big Yellow stores like-for-like closing occupancy (4)

2023 - 85.2%

2022 - 86.7%

Change DOWN 1.5 ppts

TAKEAWAY - I think this shows my point above is correct … When we look at like for like its isnt such a big big decrease. I think the impact is because of new sites and the inclusion of Armadillo

Average achieved net rent per sq ft

2023 - £32.74

2022 - £29.99

Change PLUS 9%

TAKEAWAY - Love this … Great Revenue Management

Closing net achieved rent per sq ft

2023 - £32.88

2022 - £30.33

Change PLUS 8%

TAKEAWAY - AGAIN! Love this … Great Revenue Management

Overall …. Bloody great work Big Yellow … This is how you operate a self storage site!!

Industry News -  🧐

• 1 - Public Storage Pays $19M for Boston-Area Asset

• 2 - Mid-Year Check-In: Self-Storage Operators Discuss Rates, Demand and Other Pressing Issues

• 3 - Rebranding Your Self-Storage Business? Learn to Effectively Manage Your Local Web Presence in the Switch

The fun bit - My business .... Bare Butt Naked! 😲 🤫 🤭

Willerby (Hull) My big site -

• 3 Reservations

• 3 Move In's

• 1 Move outs

Month to Date -

• Down 145 Sq Ft for the month

Reservations so far this week = 7

Move ins so far this week = 6

Clough Rd Figures .... The Automated Site

• 2 Reservations

• 0 Move ins

• 0 Move out

Month to Date -

• 225 SQ FT Up for the month so far.

Reservations so far this week = 6

Move ins so far this week = 2

Beverley ... My baby ... My first site! -

• 0 Reservation

• 0 Move in

• 0 Move Out

Month to Date -

• UP 75 Sq Ft down for the month

Reservations so far this week = 1

Move ins so far this week = 2

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

Reservations so far this week = 0

Move ins so far this week = 0

Meme of the day - 👀 😂

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

Weekly goals -

• Gym - 5 times

• Run - 30 K

• Boxing - 2

Results so far -

• Gym - 3

• Run - 4k … Still Injured

• Boxing - 0

Yesterdays Steps - 13,586

Loads of self storage love,

Dean ❤️ 🙃