The Most Important KPI In The Self-Storage ✅

GM Store Nation,

As you guys know I bang on about the legends of self storage … I love listening and learning from the OG’s!

Its a simple industry but there’s always so much to learn!

When I talk to these legends I always get humbled … Its an awesome reminder that I know nothing, and still have a lot to learn (I love that feeling BTW).

Yesterday was one of those days … I spent the day with Kevin Thompson! They say every day is a school day … and it really was.

Awesome to hear about how he scaled his business and he gave me loads of ideas of how I can get to the next level ✌️

Anyway …

Yesterdays Stats …

WILLERBY:

BEVERLEY:

CLOUGH ROAD: 

WREXHAM: 

MANSFIELD: 

• 6 Reservations

• 3 Move Ins

• 1 Move Outs

Lets … Do … This …

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

🤐 A Self Storage Tip - “The Most Important KPI In The Self-Storage”

🤝 3 Self Storage News Stories

🧐 Yesterday’s figures for each facility

🥸 1 Meme of the day

Self Storage Tip - 💡 💰 🤑

The most important KPI in the self-storage industry is …. 

Price Per Sq Ft! ✅

Well, to be honest, I’m not sure if it’s the most important KPI but it’s right up there in order of importance!

(Never let a good headline be ruined by the truth 😂)

You should be checking your Price Per Sq Ft -

• Monthly 

• Quarterly 

• Yearly 

The idea is this increases over time … It shouldn’t be decreasing! 😳

If it is decreasing your revenue management needs work! 👏

I’ll give you an example why Price Per Sq Ft is so important. 

Willerby

Our Willerby site lost 12% in Occupancy during 2023 

HOWEVER, because our Price Per Sq Ft increased we only lost 1% in revenue 

12% Loss in Occupancy but only a 1% Loss in Revenue 👏

Here’s another example …

Clough Rd 

Clough Rd gained 20% in Occupancy in 2023 

BUT … Gained 97% in Revenue! 🏆

That’s the power of increasing the Price Per Sq Ft 

If your Price Per Sq Ft is increasing then it puts less pressure on your occupancy

Industry News -  🧐

• Plans for siting of storage containers in Woolston approved

• Where the UK's biggest REITs are investing

• Why 4.4%-Yielding Extra Space Storage Remains My Favorite REIT

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

Willerby (Hull) My big site -

• 2 Reservations

• 1 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 225 Sq Ft

Reservations so far this week = 4

Move Ins so far this week = 4

Clough Rd Figures .... The Automated Site

• 2 Reservations

• 1 Move Ins

• 0 Move outs

Month to Date -

• PLUS 880 Sq Ft

Reservations so far this week = 4

Move Ins so far this week = 4

Beverley … My Baby (First site)

• 0 Reservation

• 0 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 25 Sq Ft for the month

Reservations so far this week = 0

Move Ins so far this week = 0

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

• 1 Reservation

• 1 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 45 Sq Ft

Reservations so far this week = 3

Move Ins so far this week = 1

Mansfield Figures - My New Site

• 1 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 2315 …. WHOOOPPPPPP!

Reservations so far this week = 5

Move Ins so far this week = 4

Meme / GIF of the day - 👀 😂 

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

Weekly goals -

• Gym - 3 times

• Run - 30 k

• Boxing - 0

Results so far -

• Gym - 2

• Run - 21k

• Boxing - 0

Yesterday’s Steps - 17,639

Loads of self storage love,

Dean ❤️ 🙃