The self storage industry is not the hospitality industry, office space industry, medical supply industry, or the restaurant industry. The self storage industry is an industry unto itself.
The self storage industry has its own laws, verbiage, nuances, and operational standards. Do not try to “go at it alone” or “learn on the fly”.
Cutting Edge can come to you. With over 30 years’ experience and thousands of hours speaking, training, and consulting, we are confident that you and your staff will benefit from a personalized consulting session. We are here to help you. Please contact us for more information including pricing and availability.
So what are you waiting for? Pick up the phone,call us today and setup your Free Initial Consultation!
This is the Most Important Aspect of Self Storage Management. It doesn’t matter if your self storage faclity is the newest self storage facility in your market, has the best location, has the most amenitites, the best rates, or the best google ranking. If your operations are poor, the results of your self storage investment will also be poor.
- Site Manager Training: Consists of self storage management training in sales, marketing, financial/budget understanding, rental agreements, internet (related technologies), rate management, collections, maintenance, and curbside appeal. Training can take place onsite or with regularly scheduled Webinars and Video Conferencing.
- Facility Policy & Procedures: Tips on facility policy & procedures
- Daily, Weekly, & Monthly Reporting: What you, as an owner, should be reviewing on a regular basis.
- Goal Setting: Every facility should have goals
- Identifying & Understanding the Competition: You must know who your competitors are and what they are offering
This is the Second Most Important Aspect of self storage management. The days of building a self storage facility, putting a manager behind the desk and then automatically stabilizing in 24 months are gone, long gone. You must have a consistent and solid marketing plan to compete on a day-to-day basis in your market.
- Internet Strategies: Advisement on pay per click, map & places placement, craigslist, social media, and local affiliations
- Website Development & Optimization: Yes, you need a website. we will advise you on creating an effective, attractive, and user friendly website
- Video Management: We will show you how to create youtube video content for your website. we can also discuss strategies to attain video testimonials from your biggest fans (your current customers)
- Reputation Management: We will advise you on how to review what customers are saying about your facility. we will also advise you on how to increase the number of positive reviews on all rating/review websites such as: google, yelp, merchant circle, and city search. advisement on all social media sites such as facebook, twitter, and google+
- Promotional Items: Advise you on creating the following: referral program, local business alliances, tenant promotions, flyers, and additional items.
- Signage: we will advise on signage on and off the property.
- Chartiable: Customers like that businesses look to give back to the community. we will advise on available charities in the area.
- Yellow Pages: Yellow pages are ineffective in a number of markets. we will review the existing market to see if the yellow pages would be an effective marketing medium in your area. remember, if a marketing medium generates more rentals and income then it costs, you should review it.
- Return On Investment (ROI):We will teach you how to calculate the ROI on each marketing investment to make sure your facility is making a return on marketing campaigns.
It might seem odd that we consider this the Third Most Important Aspect of self storage management. f you do not have your facility operations and marketing programs firing on all cylinders, then you will never be able to accurately predict financial results. Financial management will consist of the following.
- Projections: Review and advise on yoru current operational projections & budgeting
- P&I Management: Review your financials
- Revenue Management: Review your rates: including street rates, existing customer rates, and size code occupancy adjustments
- Expense Management: We will review all existing and potential expenses to make sure your facility is hiring the most effective vendors.
- Delinquency Management: We will advise on strategies and tactics to reduce any self storage facility’s delinquencies
- Your Options: Do you want to sell, bring in a partner, build or acquire another self storage facility, refinance your existing loan, or just keep a facility for your family? we can help you with that decision. Cutting Edge Management has contacts within the self storage industry to help you with any of these situations.