Do you Discount OR Have Offers? Deep Dive! 🤔

GM Store Nation,

Im currently at Centre Parcs with the wife and kids … The sun is shinning and the birds are tweeting … What more could you want 😃 

Yesterday was actually a decent day … Especially given the fact it was Bank Holiday Monday … We did 4 Reservations  🎯

Letss do Thiisss ...

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

🤐 A Self Storage Tip - Discount or Offers?

🤝 3 Self Storage News Stories

🧐 Yesterdays figures for each facility

🤑 My takings so far for 3 of the 4 sites

🥸 1 Meme of the day

Self Storage Tip - 💡 💰 🤑

Discount your prices or half price offers (ie 4 weeks or 8 weeks half price)?? 🤨 

I love this debate! As you would expect I have strong feelings on this

I believe Half Price Offers are the way to go!

Here’s an example -

If you discount the price that is the price the customer will pay until you do a price increase.

A price increase is usually between 5-12% … Some people are less some people are more

So if the price of a unit is £100 a month

You discount it 15% to get interest so that becomes £85 a month

You get a customer to move in

After 3 months you give them a whopping increase of 12%

That’s an increase of £10.20

So the total is £95.20 per month … Nearly at where you started

Lets look at the same unit with an offer on -

So if the price of a unit is £100 a month

You give 4 weeks half price to get interest

You get a customer to move in

After 3 months you give them a whopping increase of 12%

That then becomes £112 a month

Lets look at the results

This is based on the customer staying 10 months

DISCOUNT THE PRICE BY 15%

First 3 months £255 (85 x 3)

Next 7 months (after increase) £666.40 (95.2 x 7)

Total - £921.40

4 WEEKS HALF PRICE

First 3 months £255 (1 x 50 and 2 x 100)

Next 7 months (After increase) £784

Total - £1,039

£117.60 more or a 13% increase in revenue using a half price offer than discounting prices

That also increases more if you increase the prices on the 9 month mark like we do

Hopefully this puts to bed this debate …

Don’t discount … Use OFFERS

Industry News -  🧐

• 1 - Ohhh Cricky ..Its the fire story again!!

  Investigation Into Cause of Fire at Access Self Storage Unit in Byfleet to Take Weeks

   

  • Fire destroyed a storage depot in Oyster Lane, Byfleet, causing the loss of many people's belongings.

  • Surrey Fire and Rescue Service commander Steve Love said the site was still dangerous and the investigation would be complex.

  • Investigators are not following any lines of investigation that suggest the fire was started deliberately and it will take weeks to identify the likely cause.

• 2- Why self storage is going to be a £1 Billion industry in the UK

  • Self-storage units are becoming increasingly popular due to the housing crisis and the need for extra space in small homes.

  • Self-storage units are a cheaper alternative to renting a bigger home or extending an existing one.

  • Businesses are using self-storage to store archived data, stock, office equipment and machinery.

  • Young people are using self-storage to store materialistic products they don't need, preventing them from buying their own home.

• 3 - How to choose a self storage facility … From the customers point of view

• This is actually a really good article as its helping customers choose a storage facility … As operators its good to see the customers point of view

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

Willerby (Hull) My big site -

• 1 Reservations

• 3 Move In's

• 1 Move outs

Month to Date -

• PLUS 1,535 Sq Ft for the month

Reservations so far this week = 5

Move ins so far this week = 5

Clough Rd Figures .... The Automated Site

• 0 Reservations

• 0 Move ins

• 1 Move out

Month to Date -

• PLUS 450 SQ FT Up for the month so far.

Reservations so far this week = 6

Move ins so far this week = 0

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

• 0 Reservation

• 1 Move in

• 0 Move Out

Month to Date -

• 565 Sq Ft Up for the month

Reservations so far this week = 2

Move ins so far this week = 4

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

LOOK AT THOSE QUOTES 👀

Reservations so far this week = 3

Move ins so far this week = 0

TRUE PERIOD REVENUE (Invoices sent so far this month) 🤑

Beverley -

Willerby -

Wrexham -

Meme of the day - 👀 😂

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

Weekly goals -

• Gym - 4 times

• Run - 50 K

Results so far -

• Gym - 2

• Run - 33k

• Boxing - 1

Yesterdays Steps - 17,065

Loads of self storage love,

Dean ❤️ 🙃