Problems At Mansfield 😳

Good Morning Store Nation,

Very busy day at Store More HQ … Plenty of reservations and a good amount of move ins

On to the figures ….

Self Storage Secrets Course Waiting List

Yesterdays Stats …

• 6 Reservations

• 5 Move Ins

• 2 Move Outs

Lets … Do … This …

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

🤐 A Self Storage Tip - “Mansfield Figures”

🤝 3 Self Storage News Stories

🧐 Yesterday’s figures for each facility

🥸 1 Meme of the day

Self Storage Tip 💡 💰

I often shout about how well Mansfield is doing …. 

So equally I want to be honest when I spot something that’s concerning 

Below are the trends since the start of the year at Mansfield 

Mansfield had a blistering start since opening …. 12,000 Sq Ft Occupied in 4 months 

However … The last few months have seen a downward trend 

Here’s the details …

Quotes 

Jan -118

Feb - 94

March - 108

Reservations

Jan - 43

Feb - 32

March - 31

Conversions to Reservations

Jan - 36%

Feb - 34%

March - 29%

Move ins

Jan - 38

Feb - 28

March - 28

Conversions to Move Ins 

Jan - 32%

Feb - 30%

March - 26%

Amount Of Sq Ft Moved In

Jan - 3,320

Feb - 3,385

March - 2,070

How have the first 10 days of April been for Mansfield … I’m gonna tell you …

Quotes - 30

Reservations - 10

Conversions to Res - 33%

Move Ins - 5

Conversions to Move Ins - 17%

Amount Of Sq Ft Moved In - 350

How would these figures look if these results played out for the rest of the month (based on these 10 days' results)

Quotes - 90

Reservations - 30

Conversions to Res - 33%

Move Ins - 15

Conversions to Move Ins -17%

Amount Of Sq Ft Moved In - 1,050

So if we added these figures next to the other monthly figures above it would look like this …

Quotes 

Jan -118

Feb - 94

March - 108

April - 90

Quotes are a worry and trending down

Reservations 

Jan - 43

Feb - 32

March - 31

April - 30

Not too much difference Feb, March and April but I would expect these figs to improve

Conversions to Reservations 

Jan - 36%

Feb - 34%

March - 29%

April - 33%

Fairly steady here

Move ins 

Jan - 38

Feb - 28

March - 28

April - 15

Very worrying trend downwards … Im sure April figs will improve

Conversions to Move Ins

Jan - 32%

Feb - 30%

March - 26%

April - 17%

Again a trend down here … but I think we will get more move ins this month so that will increase 🤞

Amount Of Sq Ft Moved In

Jan - 3,320

Feb - 3,385

March - 2,070

April - 1,050

Again a trend down here … but I think we will get more move ins this month so that will increase 🤞

Wow … As you can see there is a downward trend 

There’s nothing to get majorly concerned with …

HOWEVER … 

This is a big enough sample size to know we have a problem

Can we pinpoint why or where this started to happen???

Anddd … We can! 

This is the good thing about storage … There’s usually a simple way of pinpointing problems 

The downward trend started when we increased prices and removed offers

Sooo we now know the market is sensitive to prices and offers 

In the coming weeks, we will be playing around with offers and prices to see if we can find that sweet spot

The most important thing is to be aware when there is a downturn, once you're aware we can do something about it 

I’ll keep you posted …

Ohhh and PS we have 10 more containers been delivered this week so that should increase the amount of Sq Ft that moves in 

Industry News 🧐

• E-bikes left in a self storage unit by mistake

• Flooding at a caravan storage in Wales

• Extra Space Storage Share Price Target ‘$156.33’, now 6.8% Upside Potential

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

Willerby (Hull) … My Big Site

• 4 Reservations

• 1 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 140 Sq Ft

Reservations so far this week = 9

Move Ins so far this week = 4

Clough Rd Figures ... The Automated Site

• 1 Reservations

• 0 Move Ins

• 0 Move outs

Month to Date -

• PLUS 345 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 1

Beverley … My Baby (First Site)

• 0 Reservation

• 1 Move Ins

• 2 Move Outs

Month to Date -

• PLUS 140 Sq Ft

Reservations so far this week = 0

Move Ins so far this week = 2

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

• 0 Reservation

• 2 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 120 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 3

Mansfield Figures … My New Site

• 1 Reservation

• 1 Move Ins

• 0 Move Outs

Month to Date -

• MINUS 115 Sq Ft for the month

Reservations so far this week = 3

Move Ins so far this week = 1

Meme / GIF of the day - 👀 😂 

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

Weekly goals -

• Gym - 4 times

• Run - 20 miles

• Boxing - 0

Results so far -

• Gym - 0

• Run - 10.5 Miles

• Boxing - 0

Yesterday’s Steps - 17,716

Loads of self storage love,

Dean ❤️ 🙃