Occupancy Down ... But What about Revenue?

Comparing 2023 to 2024 🤔

🎙️ Have you checked out my Hacking Self Storage podcast? Find it HERE.

GM Store Nation,

Sorry todays email is late …. I actually had a lie in this morning 😳 First time ive had a lie in years 👏

15 Reservations in 3 days so far this week …. So much better than last week 👏

Yesterdays Stats …

  • 4 Reservations

  • 3 Move Ins

  • 2 Move Outs

Lets … Do … This …

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

🤐 A Self Storage Tip - Comparing 2023 and 2024”

🤝 3 Self Storage News Stories

🧐 Yesterday’s figures for each facility

🥸 1 Meme of the day

Self Storage Tip - 💡 💰 🤑

I want to compare revenue and occupancy from 2023 to 2024 for two sites, Willerby and Beverley 

(Can’t compare - Mansfield as wasn’t open, Clough because in lease up and Wrexham because just bought it)

 

Beverley Feb 2023 = 85% Occupancy 

Beverley Feb 2024 = 84% Occupancy 

Lost 1% Occupancy in a year

 

True Period Revenue (Invoiced amount) 2023 = £10,587

True Period Revenue 2024 = £13,956

Difference = £3,369 increase

Increase of 32% in revenue  … 

To be fair that’s amazing! I wouldn’t expect anywhere near that year on year 

That’s over £40k per year increase in revenue 

 

Willerby Feb 2023 = 73% Occupancy 

Willerby Feb 2024 = 70% Occupancy 

Lost 3% Occupancy in a year

 

True Period Revenue (Invoiced amount) 2023 = £57,722

True Period Revenue 2024 = £61,952 

Difference = £4,230 increase

Increase of 7% in Revenue 

I think that’s an increase we can expect year on year

That’s over £50k per year increase in revenue 

 

I BLOODY LOVE looking at data like this! 

 

Just highlights the importance of the simple things -

  • Increasing Street Rates in line or above inflation 

  • Demand Pricing 

  • Revenue Management 

Below are the True Period Revenue Reports 

Industry News -  🧐

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

  • Let’s Get Rolling! Why You Need Video in Your Self-Storage Business Marketing Strategy

  • Turning Your Self-Storage Facility Into a One-Stop Shop: Mastering the Art of Industry Retail

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

Willerby (Hull) … My Big Site
  • 0 Reservations

  • 1 Move Ins

  • 0 Move Outs

Month to Date -

  • MINUS 370 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 3

Clough Rd Figures ... The Automated Site
  • 1 Reservations

  • 2 Move Ins

  • 2 Move outs

Month to Date -

  • MINUS 470 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 4

Beverley … My Baby (First Site)
  • 1 Reservation

  • 0 Move Ins

  • 0 Move Outs

Month to Date -

  • PLUS 25 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 0

Wrexham's Figures (Indoor) ... My First Acquisition
  • 1 Reservation

  • 0 Move Ins

  • 0 Move Outs

Month to Date -

  • MINUS 40 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 0

Mansfield Figures … My New Site
  • 1 Reservation

  • 0 Move Ins

  • 0 Move Outs

Month to Date -

  • PLUS 905 Sq Ft for the month

Reservations so far this week = 6

Move Ins so far this week = 2

TOTALS -

Reservations so far this week = 15

Move Ins so far this week = 9

Meme / GIF of the day - 👀 😂 

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

Weekly goals -

  • Gym - 4 times

  • Run - 20 -25 miles

  • Boxing - 0

Results so far -

  • Gym - 0

  • Run - 11 Miles

  • Boxing - 0

Yesterday’s Steps - 19,089

Loads of self storage love,

Dean ❤️ 🙃 

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