Cashflow is a BITCH!!

Goood Morniingggg Store Fam..A..Lam

I've had close to 1000 signups to this newsletter recently

I know regular readers will know I talk about cash flow problems a lot

But new readers have only heard me go “rah rah” self Storage is great

So today I want to revisit my old friend cash flow being a bitch ha ha

The last thing I ever want to do is paint a picture that open self storage and all your worries are over. It's quite simply not the case.

Right …

Lets dooo this ….

Here’s today’s newsletter …

• 7 Reservations

• 4 Move Ins

• 6 Move Outs

Lets … Do … This ….

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

🤐 A Self Storage Tip - “Cashflow Is A Bitch“

🤝 3 Self Storage News Stories

🧐 Yesterday’s Figures For Each Facility

🥸 1 Meme of the Day

Self Storage Tip 💡 💰

You probably know by now—

I’m the world’s biggest self storage cheerleader. 

This business changed my life, my family’s life, and I genuinely believe it can do the same for you.

But l dont wanna pretend it’s all sunshine, rainbows because its really not 

After my YouTube video crossed 250,000 views (wow, thank you!), I now have a far bigger audience on here, and I feel I have the responsibility to talk about ….

Dum Dum Dum …. Cashflow been an absolute BITCH for me 

Regular readers will know I have talked about this loads in the past butttt because of the recent influx of new readers I wanted to outline it again :-)

Cash Flow My Nemesis!!

• I’ve never taken outside money and brought in equity partners. I’ve been close a few times, but it just wasn’t right for me … Guess I like to do things the hard way haha 
   

• My original goal, when I first set up, was to sell for £10 million. But ….

  Things change, and the opportunity is greater than I imagined.

  Now, I’m aiming for £100 million. Why? Because it’s a big, hairy, audacious goal—and honestly, it’s not about the money anymore. It’s about knowing I could take care of my entire family if life ever threw us a curveball.
   

• But here’s the kick in the balls: even with a business that looks great on paper, cash flow can be a real BITCH. 
   

• Mansfield cost over £1 million in cap ex to open. Premium brand, premium costs.
   

• Our revenue is around £3 million a year. Sounds great, right? But every month, I’m paying just about £80,000 in loan repayments. That’s a £1,000,000 a year 👀
   

• I can’t lie …. Some months, it feels like I’m juggling flaming swords—robbing Peter to pay Paul, all while opening new sites.

My wife keeps asking, 

“Dean, when is enough enough? If you stopped expanding, there would be no cashflow problems, we can live very comfortable on what we have” 

In all honestly I don’t have an answer to her questions …. It’s no longer about the money, it’s about maximising the opportunity. 

I can’t stop …. Haha, it’s like im an addict  …. I love the game of business. 

And by the way …

I’m not saying that everyone who opens a self storage will have cashflow issues like me ….

They won’t, I’ve made some silly mistakes in the past that I wouldn’t make now, and I try and make every suite ultra premium, if your just starting out you don’t need to do that 

The Lesson I Learned (The Hard Way)

When you open a new self storage facility, you don’t just flip the lights on and watch the cash roll in. Nope. You’ve got:

• Rent

• Rates

• Electricity

• Staff (if you have them)

• And… zero customers at first

That means months (sometimes a year!) of negative cash flow. 

You’re paying out before you’re bringing anything in. 

I learned this the hard way with my Willerby site 10 years ago—£150,000 in rent and not enough cash flow to cover it at the start. I didn’t even realise 

So, if you’re thinking about jumping into self storage, please—don’t underestimate that “negative cash flow” period. 

Plan for it. 
Budget for it. 
Don’t do what I did and just hope for the best!

Want Help? I’ve Got 10 Spots for June

If you’re serious about opening your first self storage facility, I’m opening up 10 slots for my June cohort. 

Last month, two people out of the ten already put in offers on their first facilities— MADE MY WEEK … Life-changing stuff!

Slots for the program will be opening up tomorrow …. Details in tomorrow’s newsletter 

***This is an application process …. Because we work closely with you, I can only open 10 slots

Anyway, more details tomorrow dudes :-)

Industry News 🧐 …

• Big Yellow: The Commodity Of Empty Space Is As Valuable As Ever (OTCMKTS:BYLOF)

• Shurgard Self Storage: Asset Growth Is Outpacing Earnings Growth - Seeking Alpha

• Self storage firm partners Wellington Museum to help preserve unseen artefacts

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

Yesterday’s Results -

Willerby (Hull) … My Big Site

• 2 Reservations

• 1 Move Ins

• 2 Move Outs

Month to Date -

• MINUS 550 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 1

Clough Rd Figures ... The Automated Site

• 0 Reservations

• 2 Move Ins

• 0 Move outs

Month to Date -

• PLUS 905 Sq Ft

Reservations so far this week = 0

Move Ins so far this week = 2

Beverley … My Baby (First Site)

• 0 Reservations

• 0 Move Ins

• 0 Move outs

Month to Date -

• MINUS 130 Sq Ft

Reservations so far this week = 0

Move Ins so far this week = 0

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

• 2 Reservation

• 0 Move Ins

• 1 Move Outs

Month to Date -

• MINUS 45 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 0

Mansfield Figures

• 2 Reservation

• 1 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 905 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 1

Glasgow

• 1 Reservation

• 0 Move Ins

• 2 Move Outs

Month to Date -

• 0 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 0

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 - 5 times

• Run - 15 miles

Results so far -

• Gym - 0

• Run - 2 Miles

Yesterday’s Steps - 22,763

Loads of self storage love,

Dean ❤️ 🙃