Self-Storage manufacturer as a professional partner

Expanding Your Self-Storage Business.

If you already own a facility, you’re in a knowledgeable position as a result of your experience. But the self-storage business is changing. You need a manufacturer partner who understands industry trends on a day-to-day basis and can keep you abreast of what’s going on. There are three areas that an existing owner needs to pay particular attention to because it will affect whether you will continue to be viable and profitable.

Competition –If you have been in your location for some time, chances are you’ve seen other facilities being built in your market. This is a trend that will continue and one you will need to address. This increased competition means you need to rethink how you do business. Your first challenge is to gather information about them: who are they and where are they located? Further, you need to know what features they are offering their customers. If they have features you don’t have, more than likely that will erode your customer base. What are their rental rates and percent of occupancy? It may take a little “mystery shopping” to get some of this information, but you need to know.

Marketing – Increased competition means increased marketing. If you were fortunate enough to be the only facility in your market, you were probably able to keep your marketing efforts to a minimum, because you were the only game in town. A Yellow Pages ad would usually do the trick, All you had to do was sit back and wait for the phone to ring or someone to drop by your facility.

Not so today.

Owners today are smarter and willing to spend more money in order to succeed. And your challenge is not simply to keep up, but to stay ahead.

• Make sure your manager goes into the marketplace on a regular basis to meet potential customers.
  
• Building codes are changing and you need an advocate who can keep you aware ofany shift in the marketplace that will affect your expansion plans.
  
• Customer profiles are changing and you need to know if your demographics are different from when you entered the market. Neighborhoods change and the people who live there do too.
• Trends continue to change. For example, some owners are now selling condominium units to customers, rather than leasing them.
  
• Communities are becoming more demanding about building materials and zoning.

Management - Management techniques are constantly changing with new technology. Customers expect more services and quicker response to their needs. You may find that you will need additional management help and extend your hours to meet competitive pressures. You may need a call center service to take telephone calls after hours or when your manager is busy. You may want to consider installing a kiosk so customers can make payments or check unit availabilities at any hour, day or night.

If you have multiple facilities you may want to consider a professional management service that can handle management responsibilities, such as paperwork and provide reports on a regular basis.

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