Are you just pulling cash out ?

Welcome to the self storage blog. We give you a window into the self storage business based on the large peer group we service.

I often tell people that there seems to be two types of people who own storage facilities. One group is just pulling cash out of the property and really doesn’t want to put any time, effort or money into running a better, more profitable property. They seem satisfied making a profit based on little effort and minimal investment. Now you can’t really fault people with an attitude like this, because they are making money, their properties are meeting their expectations and they are happy. This sounds like an ideal situation.

Then there are people who are trying to run a business. They try to create efficiencies, try to maximize financial performance, seek to develop their personnel and try to make the best of what they have.

I think PhoneSmart’s call center service has something to offer both groups. In almost every case we can create enough rentals to pay for ourselves several times over from phone calls the store would not have been able ot handle without us. For the person who is trying to run a business, this sounds like the ideal service provider situation. You would think that if you told business people that you can find money that they left on the table at a minimal cost, they would line up to sign on the dotted line.

Sometimes business people are so busy trying to keep their program moving forward or so busy putting out fires, that they lose sight of the “maximize financial performance” goal.

For the people who are milking a cash cow this should also be attractive. We require no new money. We pay for ourselves from “Found money”. Yes it will take a little effort ot get us integrated into normal operating proceeures. But once the store staff is used to working with us, we become standard operating proceedure and require no extra effort. At this point the owner can go back to the “no hassle-no worries” style of management…but be at a higher level of financial performance and a higher level of profit.

In the mean time, we keep turning missed calls into rentals for our many clients. Bye for now, Tron

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Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.

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