How The REITS Increase Their Prices?? 💰

Goood Day Store Fam..A..Lam

Happy Friday ….

Yesterdays Stats …

• 5 Reservations

• 4 Move Ins

• 7 Move Outs

Lets … Do … This …

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

🤐 A Self Storage Tip - “Revenue Management”

🤝 3 Self Storage News Stories

🧐 Yesterday’s figures for each facility

🥸 1 Meme of the day

Self Storage Tip💡 💰

Revenue Management

Ever wondered how the REITS (American BIG Self Storage Operators) increase their prices??

Here’s their simple revenue management system 👇 👇

- Jane becomes a customer on 1st July 2022

- Jane gets a 10% increase on 1st October

- Jane then gets a further 6% increase on 1st July 2023

- Jane's been in self storage for 12 months and had 2 price increases 🤯 

On the 1st of July 2022, Jane is paying £100

On the first of July 2023, Jane is paying £116.60

That’s a 16.6 Increase in 12 months

The formula is simple ⤵

- 10% increase after 3 months

- 6% every 9 months until the day you move out

Self storage is a brilliant business module ... But is this approach too aggressive??

***For context this was their system before the self storage market in America crashed … crash is a little too strong but basically the big boys started offering MASSIVE discounts to get customers through the door and picked their prices up 200% after a few months 😲

Want to know how I do my price increases …..

Join the waiting list and be first to know when the course relaunches -

Industry News🧐

• Fire Destroys 50 Units at …

• 3 Self-Storage Operational Commandments: Follow Them to Gain a Market Advantage

• Direct Equity Source Invests in AAA Self-Storage Portfolio

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

Yesterday’s Results -

Willerby (Hull) … My Big Site

• 3 Reservations

• 1 Move Ins

• 0 Move Outs

Month to Date -

• MINUS 80 Sq Ft

Reservations so far this week = 9

Move Ins so far this week = 4

Clough Rd Figures ... The Automated Site

• 1 Reservations

• 2 Move Ins

• 5 Move outs

Month to Date -

• MINUS 455 Sq Ft

Reservations so far this week = 6

Move Ins so far this week = 4

Beverley … My Baby (First Site)

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• 0 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 1

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

• 0 Reservation

• 0 Move Ins

• 2 Move Outs

Month to Date -

• MINUS 340 Sq Ft

Reservations so far this week = 0

Move Ins so far this week = 0

Mansfield Figures

• 1 Reservation

• 1 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 715 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 4

Glasgow

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 320 Sq Ft

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

• Run - 50 miles

• Boxing - 0

Results so far -

• Gym - 0

• Run - 25 Miles

• Boxing - 0

Yesterday’s Steps - 15,384

Loads of self storage love,

Dean ❤️ 🙃