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  • Evaluate Self Storage For Sale
    By admin on April 27, 2009 | 222 Comments222 Comments  Comments

    If you are planning to foray into the business of safekeeping facilities or are planning to expand your existing warehouse business, then it is probable that you may be looking at self storage for sale . It is important that you take a buying decision only after properly evaluating such properties on resale. Not all facilities would give you good profit and hence careful examination of these properties is essential.

    Given here are few things that you should consider while examining a warehouse business on sale.

    Location

    In cargo space facility business, the location of the site is very important. If the storehouse is strategically located close to the important commercial or residential areas, then there is high probability that it would be successful. The warehouses that are close to highways have high clientele comprising of people looking to temporarily store items while shifting from one city to another. Tourists prefer warehouses close to airports and railway stations. Hence depending upon the type of your target customers, you should choose the appropriate self storage for sale .

    Facilities

    The next thing you should look while searching for a self storage for sale is whether the existing facilities available in the storehouse. Here you should ask yourself one questions i.e. whether you would like to use the existing facilities as it is or are you planning to refurbish the warehouse according to your tastes and requirements. If you are planning to invest some more to renovate the storehouse then examining the facilities is of little use for you except for determining the sale price. However, if you are planning to carry out the business from the existing facility without making any changes, then you should check whether it satisfies your requirements or not. The cargo space for sale should have all the facilities that you want to offer to your customers.

    Background

    It is better if you could find the reason why the owner wants to sell his or her business. This would give you fair idea about the problems that you might have to face after buying a particular safekeeping facility. For example the owner may be selling the business because it is making losses or may be due to legal issues. Though you can turn a loss making business into profitable one but buying a business with legal issues would not be a good choice. Hence, you should put in some efforts to find out the history of the business and owners of the self storage for sale .

    Revenues And Profits

    You should get some idea about the rentals of the local storehouses and their occupancy rates. This would help you in determining the demand of safekeeping facilities in that area and would also help in cost benefit analysis. For e.g. if the average occupancy rate is 70 percent, then depending on the rentals that a store unit would fetch, you can calculate the approximate revenue that you could earn from the self storage for sale . You should compare the revenue with the cost of acquiring such facility to determine when you would reach a break even point i.e. when the facility would start earning profit.

    In short, buying a resale warehouse facility is a major decision so you should take it after appropriate research and analysis. If you find this process cumbersome, then you should hire a consultant that specializes in preparing feasibility reports for these properties. A little hard work would bring you positive returns.

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  • Self Storage For Sale By Owner
    By admin on February 7, 2009 | 224 Comments224 Comments  Comments

    Putting a self storage for sale is a very common thing today with storehouse property mangagement operators. As more and more people are opting to put their belongings in paid storehouses, the paid storehouse industry is growing in leaps and bounds and many people are interested in making investments in the storehouse industry. So if any storehouse is being sold these investors purchase the storehouse and hire it out to people on good profit. The storehouse operators in turn are trying to sell out their storehouses in order to invest in better storehouses and also in other industries. Before purchasing a storehouse one should check out on certain factors.

    • The location of the storehouse is of prime importance. A storehouse that is located in an area where the majority of people have careers that require them to relocate can be a profitable place for running a paid storehouse establishment. If a storehouse operator puts a self storage for sale in such a location he can expect to sell the storehouse for huge profits. This is because in such a locality more and more people will want to store items in paid storehouses, on a permanent or temporary basis, when they relocate.
    • Busy urban locations are also places where paid storehouses are in great demand. This is because the sizes of many urban accommodations being small, they cannot accommodate many items. As a result many useful but less frequently used things cannot be accommodated properly. They are dumped in garages or attics due to which they suffer damages. By putting a self storage for sale in such a location the storehouse operator can expect to get a lot of buyers because in such areas owing to lack of sufficient place people will opt for paid storehouses for keeping their belongings.
    • Storehouses that are located in areas where transportation is easy and frequent are the ones that have a lot of demand. People would like to keep their belongings in storehouses that can be accessed easily. If a storehouse is remotely located in the outskirts of a city where it is difficult to reach by any transportation, people will not be able to access it. A self storage for sale in a location that is well connected can be expected to have a lot of market value because it will have a huge tenant base.
    • A storehouse that is located in a region where there is not much competition is going to fetch huge profits for the operator. This is because in such a location this will be the only storehouse that will cater to the entire tenancy base of that region. If there are more storehouses, there will not be a huge demand for this storehouse alone. It will not have any monopoly. On the contrary, a self storage for sale in a location where the storehouse has a monopoly, can be expected to attract the attention of investors as it has a fair chance of turning out to be a profitable investment.
    • A storehouse that offers unique features can be expected to have a high market value because the clients are always interested in new and useful features and amenities. They want top quality storehouses at reasonable prices and they always compare the facilities offered by one storehouse with those offered by another.

     

    West Hempstead Self Storage

    Charlotte Self Storage

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  • Emotional Customers
    By admin on September 28, 2005 | 1 Comment1 Comment  Comments

    Welcome to the self storage blog, our diary of the self storage world.

    Today’s blog comes from our evening supervisor Wendy. For some reason we seem to get more calls in the evenings from people experiencing some real personal difficulties.

    Occasionally we take calls from people who are extremely upset about their current situation. So in a way we turn into life counselors through the course of a phone call about storage! Sometimes callers see us as a good person to just listen to their problems for the moment. Being able to let someone about the problem seems to help ease their minds.

    But we still need to remember to control the call and not get lost in their stories. Controlling the call in this situation can be a difficult task sometimes.
    One way to get through that is of course by saying we are sorry for what they are going through and show some compassion. It is hard not to feel compassion for people. You know you are wishing not to be caught in their situations.

    I had a lady call once that had just gotten her child taken away from her by the Department of Family Services and she was about to lose her home and she needed storage. She kept going on about that. Yes that would make someone very emotional. I would never want to be in such a position. Then she started balling on the phone with me and it made me want to cry. But I had to get the call under control. I tried saying I’m sorry again and then …”what about that storage unit”…. then she would cry again.

    I felt pretty bad for her but I could not stay on the phone for hours with her, although by the end of the call I was her best friend. She said she felt like she had known me for years.

    Through all that I did not get the reservation but I did get a hot lead for the store manager and an appointment time which is a lot better than nothing. That will give the manager of that store something to follow up with. And hopefully by getting the storage part of her personal challenge solved, she will be able to focus on her other issues and be able to make them better.

    Wendy

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