I want to exit for £50 MILLION 💰....

Goood Day Store Fam..A..Lam

Sorry the email is late again today ….

It’s hard trying to get back into routines with the kids, wife, school and work …

I feel like I need a holiday 🫣 haha

Right lets do thissss

Here’s today’s newsletter …

• 3 Reservations

• 2 Move Ins

• 5 Move Outs

Lets … Do … This ….

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

🤐 A Self Storage Tip - “I want to exit for £50 MILLION 💰 …“

🤝 3 Self Storage News Stories

🧐 Yesterday’s Figures For Each Facility

🥸 1 Meme of the Day

Self Storage Tip 💡 💰

I want to exit for £50 MILLION (I actually want to exit for more but feel a douche saying it 😜)💰 … 

And this is how I’m going to do it 

Before I start, I want to point out that I do feel very douchy writing this 🫣

…. And yes, “Douchy” is a word 😂

Andddd PSSSS …. I honestly…. Honestly believe I will exit for much more than £50 million, but didn’t want to be really realllyyy reallyyy douche … I’m happy been just douchy haha

Firstly, I’d start with the end in mind and work backwards 🧐

Roughly speaking, in the self storage industry multiple site operators can expect the sales multiples between 8 and 12 times (leasehold)

Obviously, the more sites you get, the higher the multiple 

Yes, I know there are tons of factors that go into the multiple … 

Don’t come at me bro, haha 😥

Were just saying back of a napkin math here 

£50 million exit is the endpoint 

So I would need £5 million in ETBITDA 

Revenue to ETBITDA is normally around the 60% mark in self storage 

But let’s play it safe and say 50% ✅

That means my revenue needs to be £10 million 

£10 million in revenue would mean at least £5 million in profit 

We know the destination now … 

The end goal is clearly marked ….

Get to £10 million in Revenue …  Simple ah 🤪

I then look at where we currently are 

This is the revenue for my site once mature (roughly speaking)

Willerby -

£1.2 Million 

Clough 

£600k

Bev 

£250k

Glasgow 

£250k

Wrexham 

£300k

Mansfield 

£700k

Total revenue  - £3.3 Million 

Total profit - £1.65 Mill

So we have a revenue shortfall of £6.7 Million 

How do I plug that cap?

Well, I have 4 sites at Heads of Terms currently … The combined turnover for these sites will be over £2 mil … But let’s say 2 mil 

That takes my revenue up to a total of £5.3 mil (ha all been well)

Still 4.7 mil short! 🧐

I have 2 options

• Open more new sites 

• Acquire existing sites 

Over the coming years, I will be using a mixture of these tactics 

Andddd …. I'll be documenting the whole process 👏

PS … I’m not 100% saying I want to exit for £50 mill, I really enjoy playing the business game and want to take it as far as I can 😄

Industry News 🧐 

• RETROSPECTIVE planning approvaL needed in Earlston

• QuadReal to Acquire 26-Asset Portfolio From Padlock Euro Storage Fund I That Includes Mixed-Use Properties and Self-Storage Facilities

• Shurgard Self Storage : signs purchase agreement in Oldham Greater Manchester

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

Yesterday’s Results -

Willerby (Hull) … My Big Site

• 0 Reservations

• 0 Move Ins

• 2 Move Outs

Month to Date -

• MINUS 60 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 3

Clough Rd Figures ... The Automated Site

• 1 Reservations

• 0 Move Ins

• 0 Move outs

Month to Date -

• PLUS 310 Sq Ft

Reservations so far this week = 4

Move Ins so far this week = 3

Beverley … My Baby (First Site)

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• 0 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 0

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

• 1 Reservation

• 1 Move Ins

• 2 Move Outs

Month to Date -

• MINUS 110 Sq Ft

Reservations so far this week = 3

Move Ins so far this week = 1

Mansfield Figures

• 1 Reservation

• 1 Move Ins

• 1 Move Outs

Month to Date -

• MINUS 125 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 1

Glasgow

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 80 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 - 0 times

• Run - 25miles

Results so far -

• Gym - 0

• Run - 0

Yesterday’s Steps - 8,012

Loads of self storage love,

Dean ❤️ 🙃