- Mr Self Storage
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- Industry Churn 🤔
Good Morning Store Nation,
A fair few reservations yesterday …. But more move outs AAGGGHHH
On to yesterdays results
Self Storage Secrets Course Waiting List
Self Storage Secrets Course
We’re adding 3 more modules to the next launch …
PPC Training - How to run and manage your own PPC (Laura Mox)
Financial Literacy - How to do cash flows, monthly management accounts etc (Dan Bradbury)
Remote Sites - How to run a remote site (Gavin Shields and Meee)
Join the waiting list below and be the first to get access on our next launch
Yesterdays Stats …
5 Reservations
1 Move Ins
6 Move Outs
Lets … Do … This …
Here's what's coming your way today 😎🎯
🤐 A Self Storage Tip - “Industry Churn”
🤝 3 Self Storage News Stories
🧐 Yesterday’s figures for each facility
🥸 1 Meme of the day
Self Storage Tip 💡 💰
Industry Churn
According to the awesome industry report of 2024 (released last week) ….
The Industry Churn Rate is up to 98%
That’s from a Churn Rate of just 81%
That’s an increase of 21%!! 😳
Firstly, I think I should explain what Churn Rate is …
I went to a great website to help with the explanation … It’s called GOOGLE, you may have heard of it 🤪
Google said …
“Churn rate is a calculation that shows the percentage of subscribers of a business that are leaving”
Perfect … So we all understand Churn
I also want to mention the older the self storage facility the less the churn
The newer the site the higher the churn (except the first few months)
My Willerby Sites Churn is around 130%
Whilst my Beverley site is below 70%
Willerby is a newer site and Beverley is my oldest
Anyway back to the report …
Yes, it’s a big increase BUT we have to remember these figures are coming from 2023!
2023 came after some incredible years for self storage … The CVID Boast
At some point, the people who used storage on the back of CVID had to move out
I think of self storage as a tide … The tide comes in and the tide goes out but when it goes out … It’s totally natural
So yes the increase in churn is one of the biggest I can remember … if not the biggest but ….
It was totally predictable! ✅
If my churn at Willerby was just 8% per month (98% per annum) I would be laughing!
Industry News 🧐
The self storage BOOM!
Is the Shurgard approach for Lok'n Store opportunistic?
Revenue up, adjusted earnings down for Lok'nStore
The Fun Bit - My Business .... Bare Butt Naked! 😲 🤫 🤭
Willerby (Hull) … My Big Site
3 Reservations
1 Move Ins
1 Move Outs
Month to Date -
PLUS 590 Sq Ft
Reservations so far this week = 3
Move Ins so far this week = 1
Clough Rd Figures ... The Automated Site
1 Reservations
0 Move Ins
1 Move outs
Month to Date -
PLUS 195 Sq Ft
Reservations so far this week = 1
Move Ins so far this week = 0
Beverley … My Baby (First Site)
0 Reservation
0 Move Ins
0 Move Outs
Month to Date -
PLUS 390 Sq Ft
Reservations so far this week = 0
Move Ins so far this week = 0
Wrexham's Figures (Indoor) ... My First Acquisition
1 Reservation
0 Move Ins
2 Move Outs
Month to Date -
MINUS 40 Sq Ft
Reservations so far this week = 1
Move Ins so far this week = 0
Mansfield Figures … My New Site
0 Reservation
0 Move Ins
2 Move Outs
Month to Date -
MINUS 475 Sq Ft for the month
Reservations so far this week = 0
Move Ins so far this week = 0
TOTALS -
Reservations so far this week = 5
Move Ins so far this week = 1
Meme / GIF of the day - 👀 😂
Health and Fitness ... Move More = Live Longer - 🏋️♀️ 🏃
Weekly goals -
Gym - 3 times
Run - 25 miles
Boxing - 0
Results so far -
Gym - 0
Run - 5 Miles
Boxing - 0
Yesterday’s Steps - 18,982
Loads of self storage love,
Dean ❤️ 🙃
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