A Mature Self Storage Facility is a Gold Mine! 👑

GM Store Nation … 

Sorry the times of these emails has been all over the place this week … Back to normal next week, as its the end of the holidays for me 👏🥲

Here’s my work station today …. And yes that is a coffee, I don’t drink beer all the time 😂

Yesterdays Stats …

WILLERBY:

BEVERLEY:

CLOUGH ROAD: 

WREXHAM: 

MANSFIELD: 

• 3 Reservations

• 4 Move Ins

• 5 Move Outs

Lets … Do … This …

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

🤐 A Self Storage Tip - “A Mature Self Storage Facility is a Gold Mine! 👑”

🤝 3 Self Storage News Stories

🧐 Yesterday’s figures for each facility

🥸 1 Meme of the day

Self Storage Tip - 💡 💰 🤑

A Mature Self Storage Facility is a Gold Mine! 👑

When your self-storage facility is a mature site it’s an absolute gold mind (even if you are a D Class operator)

Let me explain:

A mature facility = (I think ... Don’t quote me on this) is a site that hasn’t had any expansions in the last 2 years. I could easily be wrong on this but I’m sure that’s how the SSA define it. Basically, a site that isn’t in lease-up, IE My Beverley Site

Why is it a gold mine? 🤷‍♂️

A Mature Site Collects Long-Term Customers

This translates to:

• Your churn rate is less

• The price per Sq Ft for longer-term customers is higher (it should be with the correct revenue management in place)

All this ultimately means …

• You’re more profitable

• You don’t need as many new customers moving in as you’re not losing as many existing customers

Look at my 2 mature sites …

Beverley (11 years old)

Moved out just over 300 Sq Ft the month I wrote this … CRAZY!!

Low Churn … I Love It! This means it’s not difficult to keep the occupancy high

Wrexham (15 years old)

Technically it’s not a mature site as we keep adding extra Sq Ft with containers

Moved out just over 400 Sq Ft the month I wrote this … Again, awesome churn rate!

Highlighting the fact the older sites have accumulated long-term customers

Then you look at Willerby!

We’ve moved out nearly 5,000 Sq Ft the month I wrote this ...

Granted it is a lot bigger site but the churn % is still higher!

The longer your storage is open the better it will do …. As sure as night follows day you will collect long-term customers

This means …. Lower Churn and Higher Price Per Sq Ft 💰

Happy Days 😁

Industry News -  🧐

• Store Away Are At It Again 👏

• The Storage Acquisition Group Announces Successful Sale of U-Lock Mini Storage in Burnaby, BC

• 2024 Google Updates and Your Self-Storage Business

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

Willerby (Hull) My big site -

• 1 Reservations

• 2 Move Ins

• 3 Move Outs

Month to Date -

• PLUS 65 Sq Ft

Reservations so far this week = 3

Move Ins so far this week = 2

Clough Rd Figures .... The Automated Site

• 1 Reservations

• 1 Move Ins

• 0 Move outs

Month to Date -

• PLUS 230 Sq Ft

Reservations so far this week = 3

Move Ins so far this week = 2

Beverley … My Baby (First site)

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• MINUS 50 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 335 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 0

Mansfield Figures - My New Site

• 0 Reservation

• 1 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 750 …. WHOOOPPPPPP!

Reservations so far this week = 1

Move Ins so far this week = 2

Meme / GIF of the day - 👀 😂 

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

Weekly goals -

• Gym - 0 times …. Im on my holibobs

• Run - 25 k

• Boxing - 0

Results so far -

• Gym - 0

• Run - 9k 🤔

• Boxing - 0

Yesterday’s Steps - 21,531

Loads of self storage love,

Dean ❤️ 🙃