Fish and Chips 🐟🍟

Goood Day Store Fam..A..Lam

Below is a link to Kevin Thompsons Linkedin post last week …

Im sharing it because I think its an OUTSTANDING opportunity for someone to develop a FREEHOLD self storage facility

Having worked very closely with Kevin over the last year …

If he says it’s a great site …. Its not just a great site but an amazing site! 🏆

Safe to say Kevin knows a good site when he sees one

Opportunities to buy and develop a self storage facility in a double A class (yes I said double) don’t come around very often ….

Planning is in place it literally is a case of fitting it out and opening the doors 🚪

Just wish I was a few years further on in my self storage journey and I’d gobble this up

Want me to teach you all I know …. Im opening the doors to the awesome self storage secrets course Tuesday October 1st …

Want early access?? join the waiting list below

Right thats enough chit chat on to the newsletter

• 1 Reservation

• 3 Move Ins

• 3 Move Outs

Lets … Do … This …

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

🤐 A Self Storage Tip - “Fish and Chips 🐟🍟”

🤝 3 Self Storage News Stories

🧐 Yesterday’s figures for each facility

🥸 1 Meme of the day

Self Storage Tip💡 💰

Fish and Chips 🐟🍟

What the heck am I on about ??

Well it’s an Acquisition Term

The potential buyer will fish you in with a big number ie an offer for a company, then during due diligence they chip away at that figure

So for example someone might come to me and say …

Here’s an offer £10 million for your business

I say … “Yipppiieee, where do I sign” (Just so you know that’s not my number and I’m not selling 😄)

Then over the due diligence period, the potential buyer will find small problems and make more out of the problems than they really should in order to get a discount on the sale price

This is common practice and it works incredibly well

As the seller … You’re thinking “Wow lives going to be amazing” … You’re already spending that money and you’re now emotionally tied to the outcome of selling

The buyer uses this psychology against you to get a better deal

To be fair Kevin Doyle actually spoke about this in a recent webinar

(Just so we are all on the same page Kevin did say Store Box DIDN’T do this … so well played Store Box 👏)

HOWEVER … I know for absolute certain this is a strategy some of the other self storage companies have and continue to use

So just be careful … Just because you have an offer on the table it doesn’t mean that you will get that offer

Until the money is in your bank account it’s not yours … Don’t be spending it in your head

Wait until you have the money before ordering that Porsche 🏎️

For Clarity, the reason I’m writing about this subject is because I’m at Heads Of Terms for our second acquisition

I wanted to tell the current owner that I wouldn’t do the Fish And Chips playbook

In the coming weeks, I’ll be able to tell you where site Numero 8 is 🙌

Industry News🧐

• 5 Easy, Effective Ways to Refresh Your Self-Storage Retail Store

• Shurgard Self Storage : makes acquisition in Germany

• Shurgard Self Storage Buys Storage In Germany For Eur 100 Mln

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

Yesterday’s Results -

Willerby (Hull) … My Big Site

• 1 Reservations

• 0 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 225 Sq Ft

Reservations so far this week = 4

Move Ins so far this week = 5

Clough Rd Figures ... The Automated Site

• 0 Reservations

• 1 Move Ins

• 1 Move outs

Month to Date -

• PLUS 335 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 1

Beverley … My Baby (First Site)

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 175 Sq Ft

Reservations so far this week = 0

Move Ins so far this week = 0

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

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• 0 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 0

Mansfield Figures

• 0 Reservation

• 2 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 1310 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 2

Glasgow

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 640 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 1

Meme / GIF of the day -👀😂

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

Weekly goals -

• Gym - 2 times

• Run - 40 miles

• Boxing - 0

Results so far -

• Gym - 0

• Run - 5 Miles

• Boxing - 0

Yesterday’s Steps - 18,616

Loads of self storage love,

Dean ❤️ 🙃