Storage Mart Opening MASSIVE New Site 😳

GM Store Nation,

Today I’m visiting the Manchester Christmas Markets with the wife … We have a well-deserved night away 😍 …. Share some photos in tomorrow’s email

Yesterday was an awesome day for reservations … especially given it was December 🙌

Yesterdays Stats …

• 7 Reservations

• 4 Move Ins

• 2 Move Outs

Lets … Do … This …

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

🤐 A Self Storage Tip - “Wrexham Update (My First Acquisition)” 😲

🤝 3 Self Storage News Stories

🧐 Yesterday’s figures for each facility

🥸 1 Meme of the day

Self Storage Tip - 💡 💰 🤑

Wrexham Update (My First Acquisition) 😲

I get loads of questions about Wrexham sooooo, I wanted to update you 

Firstly a recap -

I bought Wrexham for £90k (They wanted £80k … I know im a great negotiator haha) 

It was £45k upfront and £45k over 2 years (they wanted it over 3 years … Again great negotiations Dean 🫣 I wanted to be fair) 

There was just over £20k in the bank so I deposited £25k of Store Mores money into the Wrexham account and transferred the £45k across to the previous owners  

In total, it cost me £25k to buy the business … The business funded the rest (Classic Jonathan Jay!)

Sounds good but in all honestly the business was a bit messy

The turnover was £108k … However that included customers who hadn’t paid for months and months 

After we removed these customers the true turnover was around the £96k mark 

The business was making £10k per year but again that included the customers who weren’t paying 

In reality, the business was breaking even 

So after all said and done in rough numbers the business was taking £100k and the expenses was £100k 

To make this business worth my time it needs to be making £100k per year 

How do I turn this business around, was the question! 

Simple (but not easy) increase revenue decrease expenses (Ha obvs 😊)

Let’s start with what I did to decrease expenses …

The couple who owned it paid themselves £20k per year, we made the site manless so we didn’t need to employ anyone else 

Saving of £20k 

PREVIOUS EXPENSES - £100k 

CURRENT EXPENSES - £80k 

On to increasing revenue … 

We had three ways of increasing this - 

1 - I noted that they hadn’t done a price increase … EVER! 

So we went through every customer line by line and either increased their price to street rate or give a 20% increase 

Please bare in mind that we have increased the customer value … instead of only been able to access your goods 3 and half days a week (that’s all they worked) customers now had access 24/7 and all the security had been increased 

So we increased the value for the customers before we increased the prices ✅

2 - The previous owners didn’t charge insurance … So we started charging insurance … Easy and simple 

Did we lose customer from 1 and 2 … Not as many as you may have thought 

3 - We added containers to the compound …. We now have 18 containers in the compound 

PREVIOUS REVENUE - £96k 

CURRENT REVENUE - £155k …. And rising every month 

When we took over the site it was breaking even … 10 months later the site is now making £75k per year 😲

We haven’t stopped there … We are making improvements internally and that will give us extra units and we will continue to add containers 

I think this time next year Wrexham will be netting £150k and stabilise around the £220k profit mark 💰

In terms of capital invested in improvements, we have spent around £60k on the site, increasing security, palisade fencing, painting the building, signs and electric gates 

Ha … In writing this out, I’m actually really proud of myself. I think the team and I have done a great job turning this facility around 

This really isn’t that hard to do … If I can do it I promise that you guys can do it 

Industry News -  🧐

• 1 - Derelict building to become StorageMart self storage

• 2 - 7 Figure Injection to My Lock Up 😍 

  I’ve been told by Kevin Doyle that this is a year old … But that doesnt mean we shouldn’t take note. It means that HSBC are pushing this story because they want to get the story out there that they want to invest in self storage 🤔

• 3 - Insider Sell Alert: Director John Reyes Sells 50,000 Shares of Public Storage (PSA)

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

Willerby (Hull) My big site -

• 2 Reservations

• 1 Move Ins

• 1 Move Outs

Month to Date -

• MINUS 815 Sq Ft

Reservations so far this week = 3

Move Ins so far this week = 5

Clough Rd Figures .... The Automated Site

• 2 Reservations

• 1 Move Ins

• 0 Move out

Month to Date -

• MINUS 470 Sq Ft

Reservations so far this week = 5

Move Ins so far this week = 5

Beverley … My Baby (First site)

• 1 Reservation

• 1 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 380 Sq Ft for the month

Reservations so far this week = 1

Move Ins so far this week = 1

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

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• MINUS 260 Sq Ft

Reservations so far this week = 0

Move Ins so far this week = 1

Mansfield Figures - My New Site

• 2 Reservation

• 1 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 1225 …. WHOOOPPPPPP!

Reservations so far this week = 4

Move Ins so far this week = 3

Meme / GIF of the day - 👀 😂 

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

Weekly goals -

• Gym - 4 times …. 20,000 steps per day

• Run - 25 k

• Boxing - 0

Results so far -

• Gym - 0

• Run - 13k

• Boxing - 0

Yesterday’s Steps - 21,124

Loads of self storage love,

Dean ❤️ 🙃