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Goood Day Store Fam..A..Lam

We made it …. Its FRRIIIIDAYYYYY 😎

Want me to teach you all I know …. Im opening the doors to the awesome self storage secrets course Tuesday October 1st … 

Want early access?? join the waiting list below

On to the newsletter ….

• 7 Reservations

• 4 Move Ins

• 9 Move Outs

Lets … Do … This …

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

🤐 A Self Storage Tip - “Roadmap to My Self-Storage Exit”

🤝 3 Self Storage News Stories

🧐 Yesterday’s figures for each facility

🥸 1 Meme of the day

Self Storage Tip💡 💰

If I wanted to exit for £50 million 💰 …

This is what I would do

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

£50 million exit is the end point

So I would need to get to £10 million in revenue

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

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

BUT, for ease in this example, we are saying we are hitting 50% profit margins

The multiple for a business this size in self storage is around 10x

Yes, I know there are tons of factors that go into the multiple … Don’t come at me in the comments haha 😥

We’re just saying back of a napkin math here

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 

So we have a revenue shortfall of £6.7 Million

How do I plug that cap?

Well, I have 2 sites at Heads of Terms currently … The collective turnover for those two sites will be £900k

That takes my revenue up to a total of £4.2

Still 5.8 mil short!

I have 2 options

• Open more new sits

• 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 saying I want to exit for £50 mill, I just really enjoy playing the business game and want to take it as far as I can

Industry News🧐

• Self-Storage Real Estate Acquisitions and Sales: September 2024

• Goal-Setting for Self-Storage Facility Managers: Taking the First Steps Toward Your Bright Industry Future

• Want to Buy or Build Self-Storage? You First Need a Quality Market Analysis

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

Yesterday’s Results -

Willerby (Hull) … My Big Site

• 3 Reservations

• 2 Move Ins

• 2 Move Outs

Month to Date -

• PLUS 335 Sq Ft

Reservations so far this week = 7

Move Ins so far this week = 7

Clough Rd Figures ... The Automated Site

• 0 Reservations

• 0 Move Ins

• 6 Move outs

Month to Date -

• MINUS 215 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 2

Beverley … My Baby (First Site)

• 2 Reservation

• 1 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 385 Sq Ft

Reservations so far this week = 4

Move Ins so far this week = 2

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

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• 0 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 0

Mansfield Figures

• 2 Reservation

• 1 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 1385 Sq Ft

Reservations so far this week = 4

Move Ins so far this week = 3

Glasgow

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 640 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 - 2 times

• Run - 40 miles

• Boxing - 0

Results so far -

• Gym - 0

• Run - 18 Miles

• Boxing - 0

Yesterday’s Steps - 25,716

Loads of self storage love,

Dean ❤️ 🙃