A Mature Self Storage Facility is a Gold Mine! 👑

Goood Morning Store Fam..A..Lam

Wow … A late email

If im honest I totally forgot I hadnt sent it

Yesterday was an awesome day for reservations …. And I think today has been good as well (tell you about that tomorrow)

Ok on to yesterdays results 😊

Yesterdays Stats …

• 9 Reservations

• 6 Move Ins

• 1 Move Outs

Lets … Do … This …

Here's what's 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 🧐

• Getting Pushback on Your Self-Storage Rate Increases? Get Advice for on Easing Tenant Exasperation

• How Much $$ Do You Really Need to Buy a Self-Storage Facility? This Video Breaks Down the Numbers

• A Deluge of Trouble: Addressing Water Infiltration in a Self-Storage Environment

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

Yesterday’s Results -

Willerby (Hull) … My Big Site

• 2 Reservations

• 2 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 265 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 5

Clough Rd Figures ... The Automated Site

• 1 Reservations

• 1 Move Ins

• 0 Move outs

Month to Date -

• PLUS 680 Sq Ft

Reservations so far this week = 3

Move Ins so far this week = 4

Beverley … My Baby (First Site)

• 1 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• MINUS 210 Sq Ft

Reservations so far this week = 1

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 320 Sq Ft

Reservations so far this week = 3

Move Ins so far this week = 4

Mansfield Figures

• 4 Reservation

• 1 Move Ins

• 0 Move Outs

Month to Date -

• MINUS 270 Sq Ft

Reservations so far this week = 5

Move Ins so far this week = 2

Glasgow

• 0 Reservation

• 1 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 160 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 - 3 times

• Run - 25 miles

• Boxing - 0

Results so far -

• Gym - 1

• Run - 10 Miles

• Boxing - 0

Yesterday’s Steps - 20,386

Loads of self storage love,

Dean ❤️ 🙃