Found Money

Some of our clients call us “Found Money”. I understand why. I was looking over some reports today. For the forty or so stores I was looking at, it looks like we are getting 20-25% of their phone calls call forwarded to us. Those calls are coming in before and after hours as well as during office hours when the staff is just too busy running the business to get every phone call that comes in. Self-storage is not a brand game. People keep calling until they get a live person who can help them.

We are responsible for 15-25% of rentals at some of the stores I was looking at. That includes factoring in walk-ins who did not call first. These are rentals that would have gone elsewhere. So we are found money. The additional rentals we create do not involve any additional marketing cost or payroll cost or utility cost at the property. Yes, we get paid to answer the calls and create the leads and reservations. But we are almost always paid for in one new rental. Hardly any of our clients are renting just one unit a month from us. If we account for 15% of rentals, that is a lot more than one. So the revenue from rentals number two, three, four and so on goes straight to the bottom line. WOW! That is found money!