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» Self Storage Business Plan

  • Be Smart When Managing Your Storage Company
    By jeff on March 25, 2011 | 8 Comments8 Comments  Comments

    Fox Valley self storage places in Illinois have been around for a long time now.  The economy in the last two to three years has not been very good, and this will hurt most business.  The unemployment rate is still over nine percent even though the stock market has gone up.  It appears that the middle class takes most of these hits when things go bad.  There is the age-old discussion going on right now, taxes or no taxes.  Republicans always have the perception of the political party that is against new taxes and rather few taxes compared to more taxes.  They believe to stimulate the economy, taxes should be cut.  Corporate taxes should be cut too.  Other countries do not pay as much corporate taxes as we do.  Outsourcing specific jobs to other countries has, in some cases, hurt the American worker, and thus America itself.  Democrats believe big government can help balance the playing field between the rich and poor and making entitlements available to the people who need it.  It is big government verses smaller government.  It is less regulations compared to more regulations.  It affects all of us to see which way this political fight will go.

    It will affect Fox Valley self storage places in Illinois too.  In the past recessions and a downturn in the economy has not affected the self storage business as much.  Self storage is usually not a luxury but a have to use product.  People still move and with all the foreclosures going on, a lot of those people have needed self storage at this time.  The industry has not taken big hits but numbers are down in some self storage companies.  We all hope business goes up, and people go back to work.  People are willing to move for jobs as stats show.  A head of household must feed his or her’s family and moving should never be out of the question.  Food comes first.  Will the President want to lower taxes on people or raise them?  Will he spend more money or cut budgets?  It will be a political battle to say the least, with a very important outcome to the American people.  It will affect us all.

    Fox Valley self storage places in Illinois will have to be smarter business people.  Many self storage places have a lot of people or customers in them.  Some are ninety percent full and years ago stayed that full.  Now it might not be and must find ways to get revenue up and profit up.  Managers of self storage places have to be better sales people to do the best job they can.  They also have to do what is good for the company they work for, or if they own the self storage place themselves.  These are all issues and every business is thinking of these things too.  Companies are laying off people by the thousands and this is always bad news for America.  We want a robust economy with maybe some help from the government.  The government should never hinder the free enterprise system but help it grow or do not do anything at all.  A lot of people would like no government or a government so small as to only do the things needed like roads and streets, and bridges.

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  • Take Advantage of Self Storage Trade Shows
    By jeff on February 4, 2011 | 4 Comments4 Comments  Comments

    If you are in the Edina self storage industry, you would benefit from a trade show. The first great thing about trade shows is the connections that you will make. You will get to meet many of the people and companies that make the Edina self storage industry what it is today. There are many sales experts that can show you how to better your sales conversions of rental inquiries. You will be able to see people in Minnesota and around the world who can offer suggestions on how to improve in the upcoming fiscal year. You will make great connections with individuals who can share with you what has worked for them. You will also meet companies that offer services to make your business grow.

    Sales techniques learned at trade shows will immediately improve the sales conversion for your office. If you close one out of every ten phone calls, imagine if you could get an extra renter or two on every ten phone calls. That would really improve the bottom line and will have you Edina self storage company soaring into the black on the balance sheet. You will be able to be one of the top storage facilities in Minnesota by simply converting an extra sale on one out of every ten phone calls. It is pretty simple math and you could learn all kinds of great techniques at the trade show convention. You should look online for upcoming trade shows that you can attend. Truly, everyone benefits from trade shows and you do not want to miss out.

    You can also see what is new in the storage industry. Your Edina self storage property may be a little out of date and a trade show is a great opportunity to see what is available that you are not aware of. The storage industry moves very fast in this day and age. You do not want to fall behind the competition.

    There will be many speakers at trade shows and you owe it to yourself and your Edina self storage facility to attend. You will better off for it. There are some great speakers that may offer some insight on new approaches that you can take to improve efficiency in your business operations.

    A great thing about trade shows is that it can be a vacation for you, as well. Trade shows will typically be located at great vacation spots so it is nice to get out of your area for a bit, especially in the winter time. While everyone back home is dealing with snow and cold, you will be living it up in a warmer locale. You are there to work and to learn, but there is not rule that says that you have to work the whole time that you are there. You should be able to find time to enjoy yourself a bit, too. The cost of traveling to a trade show usually holds many managers back. They feel that they cannot afford to go. The fact is that they cannot afford not to go. You will pay for the trip in about two to three extra rentals in your first month after coming back, so you should not feel guilty. Pack your bags for the next tradeshow and say your thank-yous later.

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  • Convincing Callers to Reserve a Storage Unit
    By jeff on February 3, 2011 | 16 Comments16 Comments  Comments

    Getting a commitment from Brooklyn Navy Yard self storage callers while you have them on the phone is more important now that ever. There are many sites in New York that callers will look at when they are in need of a storage unit. The fact is that if you do not get a commitment from the Brooklyn Navy Yard self storage caller, they will probably rent elsewhere. They might call back and you might be able to call them later and get them to rent, but you should not rely on mights and maybes to keep your business afloat. You need solid commitments.

    There are a few ways that you can get a reservation from the caller. Most Brooklyn Navy Yard self storage will require a credit or debit card in order to reserve. This is pretty standard practice for truck rentals and hotel reservations so it is not a bad way to do reservations. It is not an attempt to discriminate against callers that do not have a credit or debit card. This is just a good indication that the customer is serious about renting the space. If you just reserved spaces for nothing, you would not be able to find out who is serious or curious.

    There are a couple different ways that Brooklyn Navy Yard self storage properties take credit card reservations. They usually will require some type of prepayment. The prepayment will go towards the first month so it is nothing extra of additional. It is not an extra fee that the caller needs to pay. Many people in New York get a bad feeling when they here that they have to give a card number over the phone. This is why it is important to build rapport with callers and always be professional when talking to customers. This will establish trust which will make the caller more likely to be comfortable enough to give you their card number to reserve. Not every caller will reserve, but you will get more rentals if they trust you.

    Some sites require a card to hold the space, but do not charge the card. This is not a bad way to do reservations. It still separates the serious callers from the curious callers because they would not give you a card number unless they were very interested in renting with your Brooklyn Navy Yard self storage property. This is a great strategy and used by many companies.

    Another option would be to go ahead and do the free hold. You need to be very careful when handing out free reservations. As an employee, you will feel good when you end most every phone call with a reservation, but that does you no good without discretion. You just need to judge each call to see if you think that they are coming in or not. Sometimes it is pretty obvious that they are still shopping around for prices. You should not really offer to reserve the space until you schedule a site visit if you do free reservations. This will help you stay more organized. You could actually do both types of reservations. Offer the credit card reservation and if you feel that they are definitely coming in, then offer them a free hold if there is no other option.

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  • Prepare Your Storage Facility for Winter Weather
    By jeff on February 3, 2011 | 6 Comments6 Comments  Comments

    Wintertime can be one of the slowest times of the year for many Briarwood self storage facilities. Pretty much everyone in New York will experience a slowing of storage calls. You will still get some because some people just need storage and do not have a choice. This is not the time of year that people will usually get a storage unit that they have been putting off. That time will come in the spring. The wintertime is the time of customer service for many Briarwood self storage companies. This is when you could lose customers if you do not focus on making customers happy.

    In the winter, it snows. This is a pretty obvious statement. You want to make sure that you Briarwood self storage facilities are prepared for weather that may occur in the wintertime. The first thing that you need to do is have a snow removal plan so that people are able to get to their units when they need to. Many companies in New York do snow removal and you should not wait until the last minute to enlist their services because you will probably pay a pretty premium rate by that point. You should look for snow removal companies during the spring or summer. They will be more likely to give you a competitive rate to ensure that they will have business when the winter rolls around. Your customers will appreciate the fact that you are thinking of them when snow falls. Customers will still need to get to their units and you will be able to make that happen if you plan ahead.

    Current customers are easy to please so you should try your best to do so. Keeping customers is something that many Briarwood self storage companies do not put an emphasis on. They become consumed with attracting new customers and forget about the customers that they already have, which is a shame. You want to have your office open as much as you can so that they can provide a high level of customer service to the current renters. Many Briarwood self storage locations close up shop when there is a lot of snowfall. You can avoid this problem by staying ahead of the weather. When there is a big snowstorm on the way, you could have an employee stay close by to ensure that your office opens as normal. This will separate your company from the others and you will pick up extra rentals as a result because people will always need storage, even in bad weather conditions.

    Since the wintertime is slow, you should use that time to make sure that your employees are operating at peak performance so they are ready for the spring and the return of the busy season. The work that you do now will affect the remainder of the year. Nothing could help you more than continuing to work on sales techniques with your current employees in order to maximize your storage rental potential. There are not many storage facilities complaining that they are out of units so there is always room for improvement. Teach them how to answer the phone properly and sell your facility like you want it to be sold. You cannot just sit back and wait for the rental to come in.

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  • Marketing Your Self Storage Business
    By jeff on February 1, 2011 | 128 Comments128 Comments  Comments

    Marketing your Olathe self storage company aggressively may be the most important thing that you do this business year. There are many storage sites in Kansas that are struggling to fill units that do not have to. They are confused as to why they are lagging behind the other Olathe self storage facilities in revenue. Even if you have the best security, the best location, and great customer service, it is not enough. The answer is marketing.

    The first step is to determine what you target market is. A lot of Olathe self storage owners want to target everyone, but you still need to have a target market. There are many things that your site can specialize in. You could focus on boat storage. Some sites in Kansas offer boat storage, but they do not focus on it. They may just offer a few outside parking spaces that customers can put their boats in. There are many ways that you can improve on this. You could offer individual storage units that they could put their boats in. Offer units that have big, wide doors with high clearance. Some people have big boats and eight foot ceiling may not be enough. They would have a hard time finding a space at most Olathe self storage facilities, but you could provide a nice solution and will be able to charge a good amount since they are so hard to find in the area.

    You could also specialize in RV storage. You could focus on both RV and boat storage. They are typically the same type of customer, more concerned with quality as opposed to just price. There are a lot of benefits to specializing in RV and boat storage. You will have fewer customers so you should be able to have a high customer satisfaction rate, which is the key to long term success. You will have fewer people to chase down when rent is due. Plus, these are typically customers that do not have problems paying the bills; otherwise they would not have the boat or RV to begin with. A lot of customers will prepay for the year so you do not have to keep track of month to month rent payments.

    Another approach would be to focus on the Olathe self storage customers who are looking to store a few items for a short period of time. The way to attract these customers is to offer a first month free special on select units even if they are only going to rent for a month or two. The reason that this will be profitable is that many people need storage longer than they plan on. The problem with this approach is that you will have to deal with people who cannot make payments because they did not think they would need it past a month or two. When their situations do not improve, they are stuck with a payment that they cannot afford. You will then have to deal with chasing people and storage auctions. You will get your money, but you will have a lot of backend work to deal with. No matter what your business approach is, you can carve out a nice little niche for your company. You just have to please the customer better than the competitor.

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  • Treating Each Storage Customes as an Individual
    By jeff on February 1, 2011 | 1 Comment1 Comment  Comments

    In order to be an effective Lenexa self storage salesperson, you need to have different approaches for callers. You cannot just do the same spiel for every caller and be the best. You may get some sales, but you will not break any records. The salespeople that are at the top of their industries are able to adapt to each caller. This is more of an art than a science, but there are some helpful tips that should help you get more Lenexa self storage sales right away.

    The most common call you will get is a Lenexa self storage unit for a few things. They may be looking to store a few boxes and a couple of furniture items. This is a pretty popular request among Kansas callers. They will need one of two sizes. The five by five would be great if they were just looking to store boxes. This is typically the smallest space that is offered. They may be able to fit a couple small furniture items, such as a small chair or dresser. If they have a couch or a bed, they will need to upgrade to the five by ten. This space could hold up to about a room of furniture. Cost will be a big concern for these callers. Make sure to push quality, security, and customer service, but really focus on the price.

    Some may be in between moves or are out of place to live. They will need to store an entire apartment or house. This is their whole life going into a Lenexa self storage unit so make sure to let them know how you will protect their things better than any other Kansas storage company. Really focus on the security features that you offer. Also, mention a few things about the quality and how clean your facility is. You should offer a climate controlled space since they will most likely see benefit in this. If they do not, do not argue, just offer them a standard space and move on. A lot of storage salespeople will draw a line in the sand. Their attitude is that they have electronics so they need climate controlled. Remember to recommend and not make demands. The customer is always right, as they say.

    For a small studio apartment, you should recommend a five by fifteen. Be careful, though, a five by ten can only hold a little more than about a room of furniture. You do not want them to have to get a bigger space after they have the space mostly loaded up. This would be a major inconvenience for the customer. Most customers are looking to get the right size recommendation from the Lenexa self storage salesperson. It may be tempting to offer them the smallest size possible so that you can quote them the lowest rate possible. This will only cause problems in the long run. Make sure to recommend a space that will hold all of their things. A ten by ten is required for most one bedroom apartments. A ten by fifteen is the size need for a two bedroom apartment or a small house. The ten by twenty or ten by thirty should only be offered to callers who are storing a two to three bedroom house.

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  • Basic Information for Making Self Storage Sales
    By jeff on January 31, 2011 | 195 Comments195 Comments  Comments

    Becoming a sales professional is not something that happens overnight. You will need to put a lot of time and effort in if you want to be the best Kansas City self storage sales expert. It all starts with your attitude. You must be willing to learn. If you have a bad attitude, you will fail. There is no doubt about it. You should take some time to try to get your hands on all of the sales tips that you can. There is a lot of material on how to improve your sales abilities. It is not about what you read as much as continuing to seek new information. You can use what you find helpful in your Kansas City self storage continued training and discard the rest. As you research, you will find some information that does not apply, but you will always find new things to try.

    A lot of salespeople will become stale over time. That is why it is so important to continue to try and find new techniques and tips. You will need to tweak your sales presentation about every month or so in order to stay fresh. By looking at new ideas all of the time, you will be able to find new things to say. You will also be inspired to come up with new sayings and approaches that you can try out. As a Kansas City self storage employee, you should keep a journal so that you can write down what some of the techniques that work the best for you. Then you can reference them the next year around the same time so that you are never out of new ways to switch it up.

    The first thing that you need to do is learn the basics of the Kansas City self storage industry. You need to find out why people need storage. You will need to change your sales approach and attitude depending on why they are calling for storage. A lot of callers will be on hard times. People need storage when they are being forced to move. They may be going through a foreclosure or an eviction. You would not want to be over the top excited when you are making your sales pitch, maybe tone it down a little bit. They may just be looking for a little calm during their brief storm. You should speak calmly and slowly, still be positive, when you are telling them how your store will help them in any way that they can. A first month special would be a big benefit to these customers because they do not have a lot of money to spend, obviously.

    Some callers in Kansas may be looking for Kansas City self storage because they need space for their business inventory. Money may not be the biggest concern to them like it would be with someone who has fallen on hard times. The things they will care about are security, location, and access hours among other things, of course. As far as specials go, you should offer them any prepay specials that you may have. For example, if they pay for the year, they can get a ten percent discount or something like that. They will be looking at a total cost for the year and not just the initial setup.

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  • Competing in the Self Storage Market
    By jeff on January 31, 2011 | 12 Comments12 Comments  Comments

    The market for Gardner self storage is very competitive. In the past, you could put up some storage units and you could just wait for the customers to come rolling in. The demand was high and the supply was low. Now there are many companies in the area. As a storage customer, you have a lot of storage options at your disposal. Because of this, you should be a little bit picky when you are shopping around. Knowing the basics of Gardner self storage will allow you to find the best fit for you.

    There are some things that you want to stay away from. Bad quality units are out there and you do not want to store your things there. Some units in Kansas will just be very simple metal buildings that will not protect your things very well. They could leak and that would ruin your belongings with water damage. Storage units should not leak and well built units will not. In order to build units that do not leak, the Gardner self storage company will have to spend the necessary money to build with quality materials. This will mean that the monthly rent will be a little bit higher. You will just need to decide if you want to pay less each month or if you want to have a unit that does not leak.

    There are a few Gardner self storage unit types to choose from. You could have a standard space. This would be just like a garage space on your house. The unit temperature would fluctuate with the weather outside. Hot if it is hot, cold if is cold, pretty simple to follow. If you have furniture or electronics that would be damaged due to temperature fluctuations, then get a climate controlled space. Watch out because some properties promise climate controlled, but do not deliver on the promise to keep them at room temperature. This could be a disaster. Make sure that the Gardner self storage company you are storing with is a reputable business operation. No use putting your nice things in storage if they are just going to be damaged.

    An important aspect is security. Obviously, ensuring your things will not be damaged is probably priority number one, but security would be a close second. Features are nice to hear when you call in, but the benefits of the features are the key. For example, door alarms are useless unless they are connected to a good security company or a Kansas police department. A quick response is needed if someone breaks into your unit. They could steal everything that you have in just a matter of minutes. Video cameras are only worth so much if they are not monitored. Some sites do not even bother to turn them on. True, a benefit of video cameras is to deter theft, but they do need to be effective in catching criminals in the act.

    Finally, make sure you are comfortable with the Gardner self storage location itself. Good area is a must. Do not store in a bad area. You will not like it when you visit and there is no need to put your things at risk of being stolen. The better the area, the happier you will be with your choice of storage locations.

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  • Successful Self Storage Strategies
    By jeff on January 28, 2011 | 135 Comments135 Comments  Comments

    Marketing strategy is very important if you are going to be a viable Crofton self storage facility. If you do not know how to market your company properly, then success will never happen. You may do a lot of things right, but if Crofton self storage do not know who you are and what you represent, then you will never have customers to impress. Advertising is part of it, but there is much more to marketing than just advertising. Developing a company image is the first place to start so you can separate your company from all other Maryland storage facilities.

    You will need to pick your focus. Most properties will focus on just general storage and this is probably the best approach since you appeal to the most customers. You would choose to focus on a more specific strategy like vehicle storage or wine storage, as well. No matter what you do it is important to keep in mind that it is all about the customer. The customer will tell you want they want through their words and actions and it is important to adapt to customer needs. When the Crofton self storage industry was booming, the sales side was not that important. You were going to rent units whether you wanted to or not, literally. As the economy begin to slide, customers need changed. They may be more focused on the price that is offered as opposed to extra features.

    With the economy still in bad shape, you should lay off selling some of the unnecessary features of your facility. Consumers are looking for the best value. Most Crofton self storage customers want to get a good price, but they usually do not want to sacrifice key elements such as security and location. Customers in Maryland will pay a few extra dollars for good security and a good location. You should focus on these aspects when they are calling in because you are going to have to offer something else besides just the price. If a customer calls in for Crofton self storage units and you just tell them the prices and that is it, you will probably not get the sale. Take time to explain to them why your facility is better.

    Knowing customer needs in your area is important. The economy is bad, but some areas have not been affected as much as others. You should know your area so that you know what to offer. If the area is affluent, you could offer nicer quality spaces and charge more for them. The climate controlled spaces are appealing to people with money because their valuables will be more protected. If you are in a poor area, the climate controlled spaces may not in that high of demand. You should still offer climate controlled spaces, but just do not set up your whole facility around climate controlled storage.

    You can offer lower rates if you do a better job of selling the customers on moving and storage supplies. The most popular purchase will be boxes, locks, tape, and packing material. You should feature those items and maybe consider putting them on special to attract customers to your store. Customers who buy moving and storage supplies from you will be more likely to come to you if they ever have storage needs.

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  • Backbone of a Self Storage Business Plan
    By admin on April 28, 2009 | 161 Comments161 Comments  Comments

    Starting a place for safekeeping facility requires lot of planning. It is essential to develop a blueprint of a proper self storage business plan before entering into this field. Before you start planning, you have to answer one question i.e. whether you want to start your own warehouse or want to become a franchisee of some reputed storehouse. If you want to start your own warehouse, then the various aspects of this business like location, facilities, marketing and sources of funds, have to be kept in mind while developing the blueprint.

    Some important points for developing a blueprint are

    Type Of Storehouse

    The first step in developing a business plan is to decide the type of storehouse you want to set up. Do you want to set up multi facility storehouse providing wine storing units, vehicle parking and store units for general purpose or you want to set up a vehicle garage only.

    Investment

    Decide the amount of money you want to invest in starting a warehouse facility. You should then determine the amount that you can finance through your own funds. For raising the rest of the money, you need to find other sources of funds.

    Location

    The next step in the self storage business plan is to decide the location of the warehouse. You should opt for a location where there is huge demand for the storehouse facilities but less competition. However, you have to keep your start up investment in mind while choosing a location.

    Facilities

    You should decide the kinds of facilities that you would offer to your customers. For e.g. if you are planning to develop a vehicle storehouse, then what kind of parking space will you offer to your customers Would you include facilities like servicing of cars in your storehouse.

    Laws And Taxes

    You should know the laws and taxes of the state where you want to setup the storehouse. The knowledge of the laws would help you to list all the clearance and paper work you need to do before starting the warehouse facility. The taxes would help you in calculating your overheads of the storehouse facility.   

    Manpower Estimation

    An important part of the business plan is estimating the human resources required to run the facility. This in turn would help in estimating the monthly wages of the employees and the amount of money required for their training.

    Marketing Strategy

    You should clearly state your marketing budget and strategy in your self storage business plan . This is one of the most important steps for running a warehouse successfully. During the initial stages, you need to advertise more so that people become aware of your storehouse and start using your safekeeping facilities.

    Security Arrangements

    Security of the storehouse is very important and hence allocation of a proper budget for security arrangements is essential. Some of the basic security measures that you should have at your warehouse are high fenced walls and 24 X 7 security personnel.

    While developing a self storage business plan , you should take advice from consultants in this field. They have a good knowledge about this industry and can help you to set up the best storehouse. They would also acquaint you with the challenges that you might face while running the facility and the solutions to those problems. They know how to impress the financial institutions with the right blueprint to raise finances and hence can help you make a winning plan.

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