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March 2019-Houston We Have Lift Off!

 

 

March 2019 Newsletter

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Storage Authority® News

We just got back from multiple training trips at Storage Authority’s Houston Franchise and the owner, Ed O., is leasing up at a record pace! We want to send a big congratulations to Ed and his team!  Ed really embraced the Storage Authority high-end sales and marketing philosophies, great job and way to hit it out of the park with a first class facility.

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We are also going to be in Las Vegas April 2 & 3 for the Inside Self Storage Convention and would love to get coffee with you. Again, send Garrett an email at garrett@storageauthority.com today so we get you in our calendar.  As you may recall our CEO Marc Goodin will be the Moderator for the session Using Data-Driven Technology to Make Self-Storage Investment Decisions.  See you there.

_________________________________________________________________
As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, financing and building a premier self-storage facility. We also help you to understand all the options and prepare accordingly.
_________________________________________________________________
If you want to learn more about Storage Authority Franchise there is a wealth of information on our website www.StorageAuhorityFranchise.com  Don’t forget to check out “Why Storage Authority” and our blog/newsroom. Then the next step is to apply on our website or email or call Garrett Byrd (Garrett@StorageAuthority.com or Direct 941-928-1354)

 Storage Genie App

Vendor Highlight

Storage Genie – Tenant Mobile App
Featuring Hands-Free Access to Your Storage Property

Enhance your customer’s experiences by utilizing the hands-free secure access to your facility using the Storage Genie tenant mobile app. Storage Genie securely grants access to your property all while keeping your phone in your pocket or purse! Customers can also make payments, view access history and contact the facility all through the app. The best part is that Storage Genie comes with OpenTech’s INSOMNIAC CIA, so you do not have to spend thousands of dollars developing, maintaining and supporting a mobile app for your tenants.

“CLICK IMAGE FOR LIVE DEMONSTRATION ”

Five things your facility must have to become a smart connected Facility. 

Having a smart connected facility enhances the customer experience and reduces the facilities overall cost.  Our customers are ultra on demand and expect an extremely convenient state of the art facility.

1. Gate Software with hands-free gate access
Getting out of your car or having to key in your access code is a sign of the times. Our customers expect extreme convenience and through a high touch and hi-tech experience.  We have partnered with the Industry’s First Smart Connected Self Storage Solution: INSOMNIAC Centralized Intelligent Access (CIA) best part is that Storage Genie comes with OpenTech’s INSOMNIAC CIA.

2. Kiosk on site It’s like having a 24/7 assistant manager.
Throw away your “Closed” sign, you will not need it. With an INSOMNIAC kiosk, customers make rentals and payments at their convenience, regardless of whether an actual manager is available. We partnered with Open Tech Alliance to bring the best of the best kiosks to our franchise locations.

“CLICK IMAGE FOR LIVE DEMONSTRATION “

3. A website that can fully rent online, take payments and reservations.
Having a first class website that is mobile responsive and can truly rent, reserve, and take payments online is mandatory. If the customer can complete an online rental but still has to stop in the office for access, that is not a true online rental.  With Storage Authority you can, from lease-ups to online leasing, our partnership with the G5 Intelligent Marketing Cloud we will help you fill your storage units faster.

4. Software management that can implement dynamic pricing 
Stagnant prices are a thing of the past, self-storage pricing is just as sophisticated as the airline industry and the hotel as prices, as your facility fills up, your rates go up.  We partnered with the best of the best in Sitelink to make sure our franchisees have access to automated revenue management.

5. A Call center who can rent, reserve  and field payments form 6am-Midnight
There is nobody who is gonna know the facility better than your skilled trained manager who is fluent in self-storage and understands what it takes to drive your self-storage profits. Although call centers have advanced to where when they answer the phones our customers don’t know if they’re calling the actual site or our service center, the call center becomes a valued extension to the site team. Never miss another call  and always capture the critical marketing metrics to where your calls are coming from.

* Bonus Tip: OpenTech IoE Alexa Connection.

“Alexa, ask Storage Genie to open ‘Front Gate’.”

“Alexa, ask Storage Genie how many visitors are here?”

“Alexa, ask Storage Genie who just entered?”

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Storage Authority® experts are ready to help you every single step of the way, from finding land to building your facility, to operations, to driving your revenue year over year.  If you have a question give us a call. Team up with the experts to save time and maximize your profits. Call Garrett at 941-928-1345 for more information.

         A Partnership for Success!

          ARE YOU READY?

Click here to Get Pre-Qualified to Begin your Journey to Financial Freedom with Storage Authority Franchising!

“Decide what you want, and then act as if it were impossible to fail.”
Brian Tracy

Order your Self Storage Books Here!

Recent Storage Authority Blogs You Will Enjoy

 Complete Storage Authority News Room

 Smart Connected Facilities = High Touch, High Technology

Speaking At ISS Conference

Marc Goodin and Storage Authority Franchise Houston Owner Ed O. From a cup of Coffee to owning a multi-million dollar real estate asset!

 

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Storage Authority
677 N Washington Blvd.
Sarasota FL 34236

www.StorageAuthorityFranchise.com         Garrett@StorageAuthority.com
1-941-928-1354

Smart Connected Facilities = High Touch, High Technology

StorageAuthority_Horz_logo

 

Here are three examples of what it means to have a smart connected facility which enhances the customer experience and reduces the facilites over all cost.

 

1.) Storage Authority Gate Entry Hands-Free Access

Storage Authority Franchise site with Smart Connected gate access capability. Opening the gate via hands-free geo-fence proximity partnered with and powered by Open Tech Alliance Insomniac Centralized Intelligent access(CIA). Re-inventing Access Control with the Industry’s First Smart Connected Self Storage Solution: INSOMNIAC Centralized Intelligent Access (CIA)

 

2.) Storage Authority Demonstrates Alexa Gate Control

With Storage Authority you have a smart connected facility which enhances the sites and customer’s overall experience.

The OpenTech AllianceTM IoE intelligent platform of smart connected self-storage solutions and Amazon Alexa allows Self-storage operators to execute commands and receive information about their facility simply by giving voice instructions.

Tying our software in with Alexa a few verbal examples you can use are…

  • “Alexa, ask Storage Genie to open ‘Front Gate’.”
  • “Alexa, ask Storage Genie how many visitors are here?”
  • “Alexa, ask Storage Genie who just entered?”

3.) Storage Authority Smart Connected Kiosk

Storage Authority Smart Connected Kiosk. Enhancing the customer’s experience, reducing the facility’s cost!  In the same way, ATMs made banking more convenient, the INSOMNIAC kiosks make self-storage renting more convenient. (And more profitable for those who offer that convenience).

 

Garrett Byrd is VP of Development at Storage Authority LLC. www.StorageAuthorityFranchise.com  .   He can be reached at Garrett@StorageAuthority.com or directly at 941-928-1354 to answerer your self-storage franchise, development, marketing, sales, and operational questions.  Storage Authority helps busy professionals make an additional six-figure income while keeping their current career.

February 2019 Newsletter- 9 Tips for Self Storage Oversized Profits using Merchandise Sales

 

Feb. 2019 Newsletter

Storage Authority® News

We are going to be visiting our Walters Road Houston TX facility in March.  If you are in Houston March 7-9 and would like to learn first hand more about Storage Authority send Garrett an email at garrett@storageauthority.com today.

If you want to learn more about Ed & Jenny’s Houston facility check out their website.  And it would be great if you left them a congratulation, way to go, 5-star review on their website. Storage Authority Walters Rd. 

We are also going to be in Las Vegas April 2 & 3 for the Inside Self Storage Convention and would love to get coffee with you. Again send Garrett an email at garrett@storageauthority.com today so we get you in our calendar.  As you may recall our CEO Marc Goodin will be the Moderator for the session Using Data-Driven Technology to Make Self-Storage Investment Decisions.  See you there.

_____________________________________
As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, financing and building a premier self-storage facility and to understand the options and prepare accordingly.
_____________________________________
If you want to learn more about Storage Authority Franchise there is a wealth of information on our website www.StorageAuhorityFranchise.com  Don’t forget to check out “Why Storage Authority” and our blog/newsroom. Then the next step is to apply on our website or email or call Garrett Byrd (Garrett@StorageAuthority.com or Direct 941-928-1354)
Vendor Highlight

Supply Side USA

It is amazing how many things you have to consider when you first set up your retail merchandise center in your office. And that is why we are so happy to have Supply Side USA as our supplier of locks, boxes, packing and moving supplies.  Not only do they have higher quality products but they are ready to jump in to help you get set up.

This includes providing a first list order and a planogram for your merchandise.  And they have branded products with great prices with reasonable quantities.
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They also have steel slat walls than help makes your office have the first class look that is a must. If you have merchandising questions or are ready to make an order send Mark an email and let him know we sent you.
Mark Petro
National Account Manager
mpetro@supplysideusa.com
https://www.supplyside.com

Nine things you need to know about Merchandise Sales. 

1. A minimum of Two – 4′ x 8′ slat walls are needed for a great showroom. My favorite slat wall colors are white, red or steel.  The initial slat walls and hooks take time so order long before it’s time to open.  At least a half of a slat wall should be used for your branded locks

2. Locks will be your number 1 seller.

Here is the Storage Authority branded lock by Supply Side USA.  Notice the $17.50 price. We have them on sale for $12.99 and sell one to every renter.
3. Boxes are your next biggest seller after locks. And 95% of your box sales will be the standard small, medium, larger or clothes boxes. So if your office is limited in size no need for other box sizes.
4. Boxes should also be sold in bundles of 10 to increase volume sales.  We promote ten packs for the price of 9 boxes.
5.  If you make and sell a box combo – 2S, 4M, 2L with tape & tape dispenser it will be your best box seller.
6. For a good look and portable for cleaning and relocating occasionally your ten packs of each size box can be stacked on a dolly.
7. Most self-storage facilities sell considerably under $500 a month in products because managers are not trained well and do not ask for the sale.  A good manager to renter ” Did you know it takes 30 boxes to move an average home.  Will you be needing any boxes today?  We have a special on ten packs or our combo pack”
8. All items prices should be clearly marked with professional signs.  No handwritten signs.
9 In addition to a sales tax number, you need to get a resale certificate from your State so you do not have to pay sales tax on the merchandise you purchase to resell.

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Storage Authority® experts are ready to help you every single step of the way, from finding land to building your facility, to operations, to driving your revenue year over year.  If you have a question give us a call. Team up with the experts to save time and maximize your profits. Call Garrett at 941-928-1345 for more information.

ARE YOU READY?

Click here to Get Pre-Qualified to Begin your Journey to Financial Freedom with Storage Authority Franchising!

“Earn trust, earn trust, earn trust. Then you can worry about the rest.”
– SETH GODIN 

Order your Self Storage Books Here!

Recent Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room
How to Make a Million Dollars a Year in Self-Storage. By Marc Goodin
Speaking At ISS Conference

Storage Authority Video of the Month

Storage Authority Pre-Opening Preparations

 

What Makes You Happy and Excited to be Alive?

“I love reading”
Marc Goodin CEO Storage Authority

Reading is relaxing for me because my mind is released from day to day thinking while I read.  

I read mostly motivational books. It strange in a way as you would think after reading a dozen or so you would get tired of them but I never do. The best ones are told in story form.   I will read a novel now and then but it has to grab my attention in the first several pages or there is no chance I will finish it.

Maybe reading helped my dreams, including my self-storage dreams, come true?

I really don’t have favorites I enjoyed the 4 books above.

I offer to purchase any motivation, sales or marketing book my manager would like to read. Only the great managers have taken me up on my offer.

Of course, the first book my employees have to read is my best selling Self Storage Marketing book.  Crush Your Competition You can get your copy here www.SelfStorageMarketing101.com

If you have not read my Self Storage Development book send me an email for your free copy Marc@StorageAuthority.com

 

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Storage Authority
677 N Washington Blvd.

Sarasota FL 34236

www.StorageAuthorityFranchise.com         Garrett@StorageAuthority.com
1-941-928-1354

How to Make a Million Dollars a Year in Self-Storage. By Marc Goodin

 

You could be president of one of the major self-storage Reits who makes over 9 million dollars a year. Or you could be one of the 9 guys who work for the same company who make over a million dollars a year.  Not likely to happen for you?  I understand. I don’t want to work for 20 to 30 years and hope I rise the top management either.

Do you think you could build a single self-storage?  If you could do that I am sure you could build one every two years if that was you your career.  People are doing just that and making profits and that is why you see self-storage being sold at the certificate of occupancy (CO)

That is really what this article is about. How profitable is it to build a self storage and sell upon completion?  Apparently very profitable.  I have heard experts say a newly build Class A facility at the certificate of occupancy (CO) is worth up to 40% more than the total invested.  If you build one of the mega 100,000+ square foot highrise’s it is clear it will put millions in your pocket if you sold it upon completion, even before you rented a single unit.

Let’s take a look at the numbers for a more reasonable project.  Let’s look at a single story 60,000 square foot $5,500,000 project. First, let’s see how this looks with some estimated development numbers:

Construction cost & soft costs – $65/sf       $3,900,000

Land cost:                                                     $1,100,000

Additional soft/caring cost                             $500,000

Total Development cost                               $5,500,000

At 40% profit, it would sell for $7,700,00O and leave a $2,200,000 profitless selling cost. Even if we are off by 50% that would leave a $1,000,000 payday.

I went on List Self Storage to see if I could find any facilities for sale at CO.  I immediate came across a 69,000-sf facility being sold at CO in Colorado Springs for $8,700,00.

co

Using approximately the same unit cost from our example we would get:

Construction cost:  69,000 sf x $65/sf            $4,485,000

Land cost                                                               $1,500,000

Additional soft/caring cost                                 $500,000        

Total Development Cost                                $6,485,000

If they got their asking price that would be $8,700,000 – $6,485,00 = $2,215,000 profit.

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Wow! Now you can see there are a lot of variables and the only way to know the answer is to have the actual construction cost and selling price.  But my point is all about sharing why self-storage is a good investment and has one of the lowest failure risks, if not the lowest, for real estate investments. I can not promise these types of profits.  And I would be the first one to recommend a feasibility study early one by a third party expert to help you understand the cost and value of a specific project early on.  I am certainly not advocating you build self-storage and sell at CO.  In the end wealth is not how much money you make every year but how much you save. And owning self-storage naturally puts “money in the bank – retirement income” for when you do decide to sell and pays you well until that point.  And of course, typically pays well once it is rented.

I believe you will make millions more by holding on to your facility for the long run than selling at CO and that it is the best way to build a lifestyle. I would rather see you fill the facility up and make $200,000 profit every year and down the road have an asset that could be sold or refinanced for millions more in profits.  One of my goals is to help future self-storage owners become self-storage multi-millionaires so I can have few more fishing buddies around the US.

If you want to take a look at ways of increasing your profits check out: Make an Extra $3,000,000 by being prepared when you open!

To Success!

Marc

 

Marc Goodin is President of Storage Authority LLC. www.StorageAuthorityFranchise.com  He owns 3 self-storages he designed, built and manages. He has been helping others in the self-storage industry for over 25 years.   He can be reached at marc@StorageAuthority.com or directly at 860-830-6764 to answerer your self-storage franchise, development, marketing, sales, and operational questions.  Storage Authority helps busy professionals make an additional six-figure income while keeping their current career.

Four things you need to become wealthy in America. Simple but not easy, until its done! By Marc Goodin

 

Wealthy in America: You can continue “your lifestyle” without working another day.  For most of the population that would convert into something like a good six-figure income and a multiple millions dollar net worth.  Does $250,000 a year plus income and $4 million net worth work for you? If so, please read on!

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It takes 4 things to become wealthy.  The hardest item is becoming an expert in the subject of your choice.  This is the hardest because it often takes 10 to 15 years.  And of course, most people never become an expert in their lifetime because who has the kind of time? Have you notice most people become overnight millionaires in their 50’s & 60’s.  Many professionals are very good at what they do and have 20 plus years’ experience but that does not necessarily make them an expert.  An expert is someone who you know can get the job done when the guy with 25 years of good experience is a risky choice.  You could become an expert in 5 years if you learned from other people experience and your sole focus was to become an expert.

The second thing you should plan on is owning your own business. If you are an expert working for someone else, they will be making the lion’s share of the profits.

The third item is you need to learn how to multiply your expertise.  If you are a great engineer or attorney charging $500 an hour, you will still be getting paid by the hour so when you stop working you stop getting paid.

The fourth and last item you and your team needs is solid business experience.  This includes development, operations, sales, and marketing.  If you’re the best people need to know it and understand how they are getting the best value from you.   There are so many people that think the best way to compete in the market place is to be the lowest price.  Competing on price is the absolute worst selling feature there is!  There is always someone who will have a lower price. Competing by having the best features is also a short-sighted option.  Great product or services are important, but others will soon copy your features. So once again it comes down to you being an expert at your chosen subject and having the business expertise to monetize your knowledge.  No one can duplicate you but you.

Notice I did not talk about hard work, perseverance, ambition or action.  You will have all these traits and more to become an expert and to own your own business.  Millionaires have been created over and over in just about any business-like engineering, hair stylist, mechanic, retail sales, self-storage, car sales……………to you name it, with these four items.

Let me tell you a few stories in my areas of expertise of Engineering & Self Storage to help you understand how the four items can evolve over time.

When I was 24 years old, Richard, the owner of a local civil engineering firm “Meehan & Associates” agreed to meet with me for a job interview. I had 4 years of good experience and was a project designer at a 50-person firm.  I was looking to be a part of a smaller firm where I could also learn the business side of engineering.   He suggested I come back in 10 years when I have more experience. I think I scared him right off the bat when I told him I wanted to be his partner in the next couple of years. Experts must think big before they are experts.

I did get a job at a small engineering firm (10 people) and got the experience and actually became an expert developers engineer.  About 11 years after my first interview with Richard Meehan he gave me a call and asked if I was still interested in being a partner. He accepted a minimal purchase price for 50 percent of the company because he understood we would be the one who got the call when only the best experts would do and be extremely well paid.    I am sure you called Rich he would tell you it was one of the best decisions he ever made.

It was rough going with the staff for a while.  They could not believe that Richard and I would be billed at $200 an hour when a professional engineer was being billed at $95/hr. at that time.  And then they went crazy when we increased the staff Professional Engineer’s billable rate to $125.  They thought we would never get another job.  But just the opposite happened.  We got so many jobs we traded our c and d customers for happier A & B customers. We went from $800K yearly income to $2.5Million income in one year by being experts in all aspects of development.  And the whole staff and our customers were happier in the end because we always gave our customers much more than they expected and they knew they had the best chances of success on their projects with us.

So, in some respects, I duplicated myself by having engineers on my staff do a lot of the basics

Of course, we were smart enough not to take jobs on an hourly basis.  We would figure the job based upon our expected hours and my hourly rates. And then we added 20%, as we knew from experience every project has unknown special needs that can’t be determined day one.  When these special needs (or extras) came up our clients were amazed we did not charge extra.

To be an expert you cannot think like everyone else.  You get to do things the right way and charge for it.  Here are three examples of “expertise” from my civil engineering days.

We had a housing developer who came to us with 100 acres with a beat up 1800’s historic house on the property.  By the time he came to us the town and neighbors were already up in arms, believing he would develop one of his massive new subdivision on the historical property.  He wanted to live there.  But to meet his requirements he needed to move his horse farm there.  That required a creating a large pond, horse fields, and riding trails.  While this would normally not be a be big deal it turned out much of the site was regulated wetlands.  And the last thing the concerned citizens were going to allow is filling of the wetlands so that someday the property could become house lots.

After sitting with the developer for an hour to listen to his goals, I said we have a good shot of approval, but it will take more than just good engineering to get this approved. I gave him a fee of $10,000 to design the pond, horse trails and fields and an additional fee of $20,000 to convince the neighbors and commission of your goals and integrity.  He needed to have both services for any chance of approvals. In the end, he was shocked but knew we were right as he had already gotten nothing but bad news from others.

The application and presentations included lengthy full color “mini-books” on the history of the property, the proposed historical renovation to the home and barn, the owner’s love of horses and their prize-winning stable of horses.  In the end, it was a win-win for everyone.  But if not for being an expert on both design and marketing and integrity, the proposed pond in the wetlands would have been denied and the historical site would have been one more subdivision.  Today when you drive by the site you are in awe of one of the most beautiful majestic views that were created with the attention to details, we promised the town.

Screen Shot 2019-02-13 at 11.52.19 AM

Regularly I had developers come to my office with projects that appeared impossible because they did not meet the local zoning regulations.  Sometimes the Town staff even directed them to me because they knew I looked deeper than the written word.  For about 8 out of 10, I would let the developers know the chances were basically zero because they did not meet the regulations or the internet of the regulations and there was no reason for the town to change or bend the regulations for them.  For around 20 percent I would tell them there may be a 50 percent chance of getting approvals, even know they did not meet the written words of the regulations. Since we could show how they met the spirit of the regulations and since we could offer a better fit for the site than other uses that met the regulations there may be an opportunity to work with the Town.  When I told them, it would take about 10 hours of my time and cost them $10,000 some would question the seeming $1,000 an hour rate.  But they were paying for my expertise, insights, integrity, and knowledge that took 2O years to obtain.  I simply reminded then that for the risk of our small fee, they could turn a $500,000 property into a Million Dollar property.  And 10K is a bargain for that opportunity.  Of course, I was prepared to provide examples and references, so they further understand the value they were getting.

On the self-storage front, I had a family friend meet with the town staff and inquire about putting self-storage on his 20-acre property.  They told him flat out that the property was in a residential neighborhood and self storage is not permitted in residential zones.  Disappointed he called me.  I knew the local property and regulations and suggested we meet.  Over coffee, I explained he had one long shot to get approval. The regulations had a single sentence that said in any district a non-conforming use may be replaced with a less non-conforming use.  The plans would still require review by the staff and approval by the Planning and Zoning Commission of which both were anti-development.

The site was a gravel pit many years ago that was left in the raw.  I explained If we simple left it up to the staff or Town Commissions the self storage proposal would not meet the lessor non-conforming use regulation. But if he could get each and every one of the 18 neighbors to agree to write a letter in favor of the project or sign a petition in favor of the self storage and then have them come in speak in favor of the project at the public hearing, he would have the self-storage gods on his side.  I explained what to say to the neighbors; no more dirt bikes and kids hanging out at night, no 20-acre subdivision that would create more traffic and use up tax dollars, etc.  I suspected that would be the end of it.

But to my surprise, Jamie came back to see me in two weeks with a petition in favor of the project signed by all the neighbors. (He did know many of them as he had been delivering their oil for many years) At this point, Jamie still had concerns about risking the design costs and getting approval, as the staff and commission chair had told him they were not going to approve self-storage anywhere in Town but in the Industrial Zone.  He asked If I had enough faith in the property to be his partner and I agreed as long as he would get several neighbors to come to the meeting.  We had to insist the project be put on the agenda for the whole commission to decide if our premise of a lessor non-conforming use was valid.  The gravel pit had been abandoned for years so it was easy to get denied if the board that was the right thing to do.

Obviously, the plans were designed to a T and the presentation hit all the hot issues, lots of tax dollars, quiet, no school kids, no traffic, great design feature etc. But what clinched it was the residences response when at the end of our presentation when the commission Chairperson asked, “Is there anyone in the audience who wants to talk in favor or against this project” One lady quickly stood up and spoke for 15 minutes in favor of the project. She said it’s about time someone fixed the problems of this site as the Town has done nothing to police this dangerous kid’s hangout and ongoing noise and headache for the neighbors.  My favorite line was when she said my daughter got pregnant back there.  And right after her speech, 18 more people got up and said “I am in favor of the project and ditto to everything the first speaker said.  We got the project approved and Jamie and I are still partners today.

It took an exceptional design and other expertise to get approvals and build this property but it was well worth it as it made each of Millionaires. And to this day we are still the only self-storage in town.

Enough stories.  I know many of you reading this, are thinking you simply do not have the years to become an expert.  And secondly, you’re not even sure what subject you would like to become an expert where you could duplicate yourself.  While there are many possibilities there is one exceptional business opportunity, I can help you with.  Self Storage!

I am a self-storage expert and developed Storage Authority Franchising to help others become multi-millionaires in the self-storage business.  You can google me, read my best-selling self-storage books, visit my LinkedIn page, read my Inside Self-storage magazine articles, talk to past clients or Storage Authority Franchisees, visit our website www.StorageAuthorityFranchise.com or visit with me for a cup of coffee and you will have no doubt that with Storage Authority on your team you can become a self-storage expert in record time with our systems in place day one for you.

You will learn we can transfer you many years of knowledge, proven systems, platforms expertise, saving you years of time and tons of money it would cost for you to become an expert. The Storage Authority goal for each franchise is simple.  For each one to make a good six-figure income from their self-storage ownership.  And develop a multimillion-dollar nest egg.  And to do it in 5 years after you say go!

I am not saying developing this income will be easy or even close to being guaranteed.  In fact, this kind of financial security does not come easy or everyone would have it, instead of just the 1 percenters out there. But where else can $500K+- cash equity and a bank loan for the project balance provide such wealth.

I understand there is a bit of self-boasting in this article but that is what it takes to get the word out sometimes, and exactly what your manager will be doing day in and day out for your beautiful premium Storage Authority Facility.

To Success!

Marc

 

 

Marc Goodin is President of Storage Authority LLC. www.StorageAuthorityFranchise.com  He owns 3 self storages he designed, built and manages. He has been helping others in the self-storage industry for over 25 years.   He can be reached at marc@StorageAuthority.com or directly at 860-830-6764 to answerer your self-storage franchise, development, marketing, sales, and operational questions.

 

January 2019 Goal ~ Build Self Storage Facility ~ Imagine That!

 

January 2019 Newsletter
Happy New Year!

Storage Authority® News

The Storage Authority word for 2019 is Imagine.

Imagine how an extra $250,000 or more a year would change your lifestyle.
Imagine if you decided to retire early.
Imagine if every day is Saturday.
Imagine………………….

Storage Authority Mulberry Florida Update

The final touches are in progress for an opening in Late Feb. 2019.

Scott understands the value of community and marketing.  Nothing says home town and rent here like a 50-foot flag pole.
You won’t miss this sign.  A high pole sign and a reader board!
A couple of building signs, landscaping, and a kiosk are ready for installation next week to complete this office entrance!
Imagine from a sketch to a beautiful self storage development! Check it out Storage Authority Mulberry FL
_____________________________________
As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, financing and building a premier self-storage facility and to understand the options and prepare accordingly.
_____________________________________
If you want to learn more about Storage Authority Franchise there is a wealth of information on our website www.StorageAuhorityFranchise.com  Don’t forget to check out “Why Storage Authority” and our blog/newsroom. Then the next step is to apply on our website or email or call Garrett Byrd (Garrett@StorageAuthority.com or Direct 941-928-1354)

Vendor Highlight

The Rental Lease

The Rental Lease and various addendums are one of the most critical items to protect you and your multimillion dollar investment.  Too often people use outdated leases, leases not suitable for their state or simply put, leases that are lacking several important items.  For your protection, we highly recommend your lease be prepared by a self-storage lease expert. Our Self Storage legal expert and Self Storage lease expert is:

Greenberger & Brewer, LLP

Jeffrey Greenberger Esq

www.GRBRlaw.com       Jeff@GGRBRlaw.com

Phone: 513-698-9350

Nine things that help make a great first impression and let renters you ready to take good care of them. 
1. A large flag – the larger the better!
2. How about a sleek exit office sign.


3. Large office windows to let the sunlight.
4. Perennial garden to add bright colors.

5. A coffee station with sink & fridge
6. A large display of retail products
7. A commercial Vacuum for your renters
8. Granite top for the stand-up customer counter.

9. Bold large quality branded property sign & building signs. Let them know you are proud of who you are and you are different.

There are a lot of different ways to project how you are different.  Two of my favorites are I enjoy planting sunflowers each spring and lights running down the top of the fence along the front of your property.

_______________________________________
Storage Authority® experts are ready to help you every single step of the way, from finding land to building your facility, to operations, to driving your revenue year over year.  If you have a question give us a call. Team up with the experts to save time and maximize your profits. Call Garrett at 941-928-1345 for more information.

 
ARE YOU READY?

Click here to Get Pre-Qualified to Begin your Journey to Financial Freedom with Storage Authority Franchising!

You don’t have to be great to start, but you have to start to be great.
Zig Ziglar

                   Order your Self Storage Books Here!               

                      Recent Storage Authority Blogs You Will Enjoy!

 

 Complete Storage Authority News Room
 Alexa how much does my competition charge for a 10 x 10?
Self Storage Automation is here to stay

               Recent Storage Authority News Letters

December 2018 –9 Steps To Decide if Self Storage Is For You!
November 2018-Self Storage High Touch + High Tech = $$$$$
October Newsletter 2018–Fake Doors Not Fake News

 Storage Authority Video of the Month

Franchise Business Radio – Interview with Marc Goodin, President of Storage Authority Franchising

What Makes You Happy and Excited to be Alive?

I love fishing! Marc Goodin CEO Storage Authority

Fishing is a time to relax and forget about the world’s trouble for a couple of hours.

         I have loved fishing ever since I was a kid.  Even when I don’t catch the big one I enjoy being outside!

When you retire or semi-retire what will you do?  When money and time are not an issue what will you do?

Maybe self-storage is the right vehicle to make your dreams come true. It was for me!

Fishing, just like Self Storage having the right tools and knowing where to go helps a ton to make sure the journey is fun.

I am especially lucky because my wife GP enjoys fishing now & then!

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Storage Authority
677 N Washington Blvd.
Sarasota FL 34236

www.StorageAuthorityFranchise.com         Garrett@StorageAuthority.com
1-941-928-1354

Speaking At ISS Conference

The April 1-4 Inside Self Storage Expo in Las Vegas is a great place to learn everything self storage! And you get an opportunity to talk directly to the vendors and learn face to face about their products and services.

I would love to meet you there.  Shoot me an email and we can make plans. marc@storageauthority.com

MG ISS

I will be moderating the educational session on Using Data-Driven Technology to make self Storage Investing Decisions.  If you are looking to build a self storage in 2019 you will not want to miss this session.

One of the recent improvement and availability of Data that is had major leaps in the past 2 years is information on the competition.  Everything from their location, size, and pricing is available.  It is important to understand how accurate the data is and other limitations fo the data when using this data.

Screen Shot 2019-01-05 at 4.05.58 PM

The mini feasibility study can now be done in hours vs days due to this new data-driven technology.  Here is a link to an article I recently wrote for the ISS magazine.

https://www.insideselfstorage.com/site-selection/how-perform-mini-demand-study-potential-self-storage-site

Imagine what 2019 will bring!

Cheers

Marc

 

Self Storage Automation is here to stay

Has the Time Come for the Un Manned, Automated Self Storage Rental Office?

And how you can automate your self storage facility today for more profits.

By Marc Goodin

 

Lease by Phone, Website or Kiosk vs.

Lease by Phone, Website or Kiosk or with our Onsite Manger,

Which would you choose?

We know self storage automation to the point of an unmanned rental office it is possible because there are more and more unmanned facilities every year.

Full rental automation simple requires two major components. The first is an office manned by a kiosk connected to a good call center. Open Tech Alliance has you covered when it comes to the best self storage kiosks and call centers.  Their kiosks even dispenses locks.  Even if you are not going fully automated a kiosk will make you more profits because you will not miss after hour rentals to your competition.

Screen Shot 2018-12-27 at 12.10.00 PM

Here is a facility I designed that just opened with an Open Tech Alliance kiosk. We require all Storage Authority Franchise self storage facilities to have a kiosk because they are both a profit center and are a backup when a manger is not there for any reason.

The second item required for an un manned self storage facility is individual door looks for each individual unit.  Janus International is the leading provider of self storage door locks. The door locks are the major extra cost for an automated facility since every facility should rent online and have a kiosk.  Presently individual door locks cost about $200+_ installed per door. For a 55,000 net rentable square feet facility this would be about $100,000.  Not unreasonable when you consider the cost of a manager year after year. I expect the price of individual door locks will come down significantly in the next 5 years and that they will become standard even for a manned facility.

Great self-storage management software, like Sitelink is already cloud based and can be run from anywhere you have internet.  Likewise, your self storage camera, security, HVAC controls and gate systems should also be cloud based so they can be operated and monitored from off site.

As part of automation your website should also fully rent units online.  I know 99 percent of everyone reading this article have websites that do not make online rentals that permit renters to move in when you are closed.  If your considering automation (and even if you are not) your first step is to update your website to rent units.

If we just looked at the facts above it would seem clear that automation is the way to go.  But we have to look at one more set of facts: What do our clients want, which in turn relates to profits.  The world is more automated day by day.  In 2018 we hit the 50% mark for online shopping; Mc Donald’s are putting more ordering kiosks in their restaurants; I often use my bank ATM vs going inside the bank.  But for Ninety percent of the time I need something from Home Depot I go to the store. Maybe you make 50% or more of your purchases online?  But that does not mean that it is time to make banks, retail stores or self storages automated and loose customers by eliminating one on one service.

When you are checking out at Wal Mart or Home Depot have you noticed there are two or three people in line at the manned cash registers and 1 person at the kiosk checkout.  Most people prefer to have someone help them check out. We still trust people more than machines, especially when we have a question.  Of course, if I only have a couple of items and there are 4 people with full carts at each of the manned cash registers, I will head over to an empty checkout kiosk. Companies like Home Depot have figured this out and that’s why they have both.

If renters have a choice between two equal facilities most will choose the manned office vs the automated self-storage office. It is a myth that a manned and unmanned facility are equal.  Both can have the same great locations, features, prices but only the manned facility has a real unique selling proposition.  And that is a good manager who gets to know a client, builds trust and loyalty.  A kiosk can not do that.  An un manned facility will often have a lower rental price but if you have not already learned a low price is the absolute worst selling feature a self storage can have.

I have been renting self storage units for a long long time and I estimate 30%  (ie 60% walk ins will rent even if your manager is a clerk) of our rentals would have walked out of the office without renting except for our high end remarkable, rediculasly over the top customer service, sales and marketing provided by our well trained managers.  And our rates are 20% higher than our competition.  Our number one rule at our facilities is every prospect is taken out the door in 30 seconds or less to see a unit.  This gives us time to understand their needs, get to know them, build trust and for the renter to have the opertunity to physically see the difference from one size to the next so they are comfortable and ready to rent. Viewing the size gives the prospect the ability to confirm the size they need so we can say “ looks like a 10 x 10 is the right size for you, let go back to the office and get one in your name.” A self-storage kiosk will never take a customer to see a unit or builds trust.  It’s hard to rent an apartment or sell a house or sell a car, a person has not seen. To a big degree the same goes for self storage.

When it comes right down to it the number one thing that makes your facility different from the facility down the street is your manager. And a good manager will rent more units at a premium price and have more loyal customers and referrals than a similar unmanned facility or a facility with an untrained manager. You could argue the maned facility can’t rent before and after hours.  But online rentals and kiosk provides manned facilities the best of both worlds. It serves as a backup to the manager busy with a customer and is there for the few individuals that would rather do the entire process at kiosk or needs to rent after hours.

Some owners simple do not have the time to manage their facility as they have a busy career or are on too building their third and fourth facility.  In this case the loss in profits is a tradeoff for going with an automated system.  I would suggest they have two more profitable alternatives: a good management company or a Storage Authority Franchise.   Even if the facility office is unmanned who is doing the daily site checks and cleaning each unit before it is re rented.  Who is marketing the facility?  Who is calling the nonpaying renters?  Who is managing the auctions?  A good manager with well-established systems and platforms should be doing these items in addition to renting units.

A second case for the unmanned unit would be for a very small facility.  Maybe you have a 15,000 square feet facility.  This would be a good candidate for an automated facility as the overhead of a full-time manager would not be warranted given the limited income potential.

There are companies that are only building automated facilities.   Ten Federal is one of leaders in unmanned facilities.  Their website headline is Lease by Phone, Website or Kiosk. They have improved the un manned system significantly and I am sure it is working for them.

But again, if you only have one facility, I believe you can add substantially to your bottom line profits with a good manager vs an un manned facility. Even up to an extra $100,000 or more. I have no concrete proof for this dollar amount but in my selling self-storage book Crush your Competition in week 1, of 52 weeks of self-storage marketing ideas, I outline how you can make well over a $100,000 a year with over the top marketing & sales.  And a kiosk just does not have the ability to implement a sales and marketing platform for extra profits.

Ten Federal website clearly notes they do not have a move in administration fee.  I like administration fees! This fee is worth over $12,000 a year in profits for me and provides for one heck of a vacation every year for my family.  And even more concerning for the single operator is their prices are all web prices which are typically reduced from the office rental price. And they are also giving huge discounts for the first month, another no no for the single operator.

Bottom line, we will be seeing more unmanned facilities because many owners and management companies do not want to take the significant time and effort to prepare and implement the self storage managers operations, sales and marketing systems and platforms and an ongoing training programs   But that is good news for those of us willing to get it right for our customers because we will have the opportunity for oversized profits, others have given up.

To be competitive now and certainly in the future all facilities should have the unmanned components in the sense your potential clients should be able to rent when your office is closed.  These tools will also reducing costs by shortening the managers hours.  The days of the self storage office being open from 8am to 8pm seven days a week are long gone and have been replaced with closed Sunday and reduced hours the rest of the week.

Marc Goodin is President of Storage Authority LLC, the only self-storage franchise in the US. He owns 3 self storages he designed, built and manages. He has been helping others in the self storage industry for over 25 years.   He can be reached at marc@StorageAuthority.com or directly at 860-830-6764 to answerer your self storage franchise, development, marketing, sales and operational questions.

Alexa how much does my competition charge for a 10 x 10?

Every once in a while there is a technology that is fun, easy to use and cheap that every business has to have to first hit home run out of the park and them eventually just to survive.   I believe voice command technology (especially combined with other technology) will be one of  the big hits for self storage in 2019 and moving forward.

We are heading out to Texas early next month for training for a new Storage Authority facility. www.StorageAuthorityWaltersRd.com  

IMG_5336

We are very exited to help Ed and his team become self storage experts. And we are also excited to see  Alexa in action at a self storage for the first time. Self storage technology is swiftly evolving and everyone will need to include High Tech – High Touch platforms and systems if they want to have high end profits and Crush your Competition.

Alexa who was the last one on site? Alexa how many renters are on site?   Alexa open the gate.  And this is just the start of voice command opportunities to make your self storage managers job more efficient and to impress your renters for more self storage profits.

Screen Shot 2018-12-22 at 3.55.43 PM

Alexa,  can you answer Mr. Goodin’s question, Can we give him a discount?

Mr Goodin I understand your concern, You want to get the best value for your money. I am sure you can agree we have the nicest facility in the area and provide exceptional value. And you know Sally the manager and I will work hard every day to earn your business.  If we we started giving out discounts we could not be able provide our customers the service and value they deserve and expect.

Mr Goodin would you like to get that unit in your name today?

Screen Shot 2018-12-22 at 4.01.06 PM

Storage Authority is happy to be partnering with Open Tech Alliance to insure we have the high tech that our clients want and deserve.

It is time to get past management and become self storage leaders!

 

 

 

December 2018 –9 Steps To Decide if Self Storage Is For You!

December 2018 Newsletter

Merry Christmas & Happy Holidays!

Storage Authority® News

We want to take a moment and say thanks to all our family, friends, vendors and franchisees for being a part of our lives and success in 2018!  We are forecasting  2019 to be a blockbuster year for self-storage and for Storage Authority Franchise owners.

As the holidays approach it’s often hard to concentrate on business. Self Storage rentals do tend to slow down around the holidays (December & January) but for us, it is the most important time of the year, as this is when we check & update just about everything.  And plan and set our goals for next year.

Some of the many items checked off the 2018 Storage Authority list:

  • New franchise websites – rent online
  • Social Reputation platform provided for franchise owners
  • Cloud drive set up for easy access to manuals, forms, products etc
  • Office sign manual  completed
  • 12+ new approved vendors
  • Contractors & Designers added to our approved vendor list
  • National real estate broker added to our approved vendor list.
  • Updated Managers handbook
  • Storage Authority customized forms, emails, letter etc added to SiteLink management software
  • All systems & platforms reviewed and updated
  • Implemented Late 2 lien Auction program
  • Streamlined the getting started the process
  • Storage Authority registered in more states
  • Implemented the Dynamic Ease Series for Operations, Marketing and Sales.

 Storage Authority Planning Highlights for 2019 

  • Expand our services and improve our existing services to our franchise owners
  • Add a minimum of one new vendor a month to improve our Franchisees efficiency and profits.
  • Implement monthly training newsletter on new systems and technology for owners & managers.
  • Implement regular interviews and discussions with owners on pain points to find better ways we can serve Franchise owners.
  • Attend, present and meet friends at the April 2019 ISS World Self Storage Expo in Las Vegas
  • Provide training on new IOE tools
  • Provide guides and workshop on using website analytics for more profits
  • Provide guides and workshops on social marketing for more profits.
  • Provide guides and workshops on why website and google reviews will make you rich and how to get 10 reviews every single month.
  • 1 new Franchise purchased per month
  • New franchisee facilities open in PA, NJ, TX, FL, NY, VT, MA & More


Time is running out to finish your Christmas shopping. Maybe a best selling self-storage book on development would be a good gift for someone you know? If so check out www.SelfStorageMarketing101.com  You will find three books by our President Marc Goodin that will make your profits soar.

Our President was asked to be the moderator for a roundtable table discussion at the April Las Vegas, Inside Self Storage Expo. The topic is using available web data to make investment decisions for new self-storage development.  It is going to be a great discussion. We hope to see you there.  We would love to grab a coffee with you?  Give Garret a call at 941-928-1354 to set up a time to grab a coffee together.

If you missed Marc’s two articles about self-storage feasibility studies in the ISS magazine here are the links:


Click Here to Read
_____________________________________

As part of our Dynamic Ease Self Storage Development Series, we help our franchisees around the development landmines, including finding land, designing, financing and building a premier self-storage facility and to understand the options and prepare accordingly.
_____________________________________
If you want to learn more about Storage Authority Franchise there is a wealth of information on our website www.StorageAuhorityFranchise.com  Don’t forget to check out “Why Storage Authority” and our blog/newsroom. Then the next step is to apply on our website or email or call Garrett Byrd (Garrett@StorageAuthority.com or Direct 941-928-1354)

Vendor Highlight

Our vendor list is growing every month.  Instead of highlighting a single vendor this month we want to give you two actual examples of how important quality pre-approved vendors are and how they make our franchisees successful.As Ed prepares to open his Storage Authority Franchise this month he has a ton of last minute things to do:

He did not have to find a quality shirt vendor.   A call to our approved shirt vendor and to quality logo polo shirts was on the way.

A call to our lock supplier and Storage Authority logo locks were delivered.

No need to worry about gate & office signage.  They are all detailed in a manual by our office & gate sign vendor and available with a couple of clicks. Again no need to reinvent the wheel.

Business cards, rack cards, marketing cards – a couple of minutes on our printers website and pre-designed marketing materials personalized to the Franchises store are on the way.

Time to use Sitelink management software to the maximum.  No problem it comes preloaded with Storage Authority late schedule and fees, letters, emails, notices etc.

If a client does not pay – no problem they go right into the Late 2 Lien auction program when they hit 30 days late. Putting renters in the auction at 30 days vs 60, 90 or when you get around to, increases your profits.

With a simple call our insurance vendor Storsmart, the insurance is loaded into SiteLink and ED is ready to protect his investment and collect added income for each renter.

And our vendors are also a huge part of your quality construction process.  Just last week on another facility under construction shop drawings was submitted for review and it was easy to make them upgrade the proposed product:

When your contractor submits shop drawings for aluminum decorative perimeter fencing with 1/4″ pickets you refer them back to the fencing detail by our approved vendor in their contract – Steel (not aluminum) with 1/2″ pickets not 1/4″

Same goes for other construction items like the kiosk, gate systems, buildings etc where pre-approved vendors and their specifications save our franchisees time and money.

You can see a hand full of approved vendors (below) and on the home page of our website www.StoageAuthorityFranchise.com

9 Steps To Decide if Self Storage Is For You.

1. Make a written a list of why self-storage is for you. If you are not willing to take this step no need to go any further.

2. Set a time frame and date to decide if self-storage is right for you now.  If you are not willing to take this step no need to go any further.  Often 2 months is more than enough time to get the facts.

3. Read Marc Goodin’s 2 Self Storage books. If you are not willing to take this step no need to go any further.

4. Order the Inside Self Storage Magazine.  While you are on the site you can search Marc Goodin for articles on self-storage development & marketing.

5. Count your cash. You need $450,000.

6. Make a list of the pros & cons. And update your list why self-storage is for you.

7. Share items 1-6 with your spouse.

8. Realize you will not have more time next year or the year after.  If self-storage is for you, you will have to make the time.  You could have and should have done items 1-7 in less than 2 weeks if you have a passion and goal of owning your own business.

9. Make a list of the first 20 things you will need to do to start your self-storage journey.  If you got to this step and completed it congratulations I am sure you on the right track to owning a self-storage soon.
_______________________________________
Storage Authority® experts are ready to help you every single step of the way, from finding land to building your facility, to operations, to driving your revenue year on year.  If you have a question give us a call. Team up with the experts to save time and maximize your profits. Call Garrett at 941-928-1345 for more information.

 

         ARE YOU READY?

Order your Self Storage Books Here!

Recent Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

Are you planting enough Acorns for real oversized Self Storage Profits?

11 Frequently Asked Questions about Cost Segregation for Self-Storage Properties

Storage Authority Video of the Month

Self Storage Developing Series 3 Banking

 

What Makes You Happy and Excited to be Alive?

I love campfires! Marc Goodin CEO Storage Authority

A campfire provides a time to relax and enjoy time with friends and family!

Before I retired from my civil Engineering career in 2009 I maybe enjoyed a fire once every 5 years.  Simple… no time.  It is amazing how things change drastically when you decide what you want to do every day.  I am guessing I had well over 60 fires in 2018.When you retire or semi-retire what will you do?  When money and time is not an issue what will you do?

Maybe self-storage is the right vehicle to make your dreams come true. It was for me!

Just like Self Storage You Must Think Ahead and be prepared to enjoy your campfires

Clockwise

1) That’s my summer office.  Notice the fire pit. I enjoyed a fire 3 times a week all summer2) That is my wife GP and two of her sisters.  We never let a little rain get in the way of a good fire.

3) The first thing we did was install a wood stove in our cottage so we could enjoy a good fire and lunch on the fire during construction.

4)  If you are going to have a fire you need wood.  Here is my wife GP with 2 of her brothers ready to head home with a good load of wood.

Clockwise

1)  While building our river cottage this fall we often had a fire going inside and out.  The scrap construction wood keeps the fire going all the time.

2) When we are up north for Christmas we enjoy hanging out in the garage with the wood stove going.  That me by GP’s brother wood stove in his huge garage.  That stove can take 3-foot monster logs.

3) Our friends know to invite us over when they are going to have a fire.  This fire is at our friends Daniel & Pauls cabin in the woods.

4) We converted our garage up north to a hangout with a pellet stove.  It is always full of family and friends who just randomly stop by. Everyone loves the fire!

1) My favorite annual summer fire is when I cook a chicken and shish kabobs on my homemade tinfoil oven above my campfire.

2)  I even bought my son Lee a fire pit for Christmas a couple of years back so we could sit back and relax when we visit.  And his 2 young boys and Tiffany love it as well.

I am sure there are a ton of things you would do if you had more time. Would it be worth working hard for 5 years so you had all the time in the world to enjoy the things you love to do for the rest of your life?

Just a thought – No matter what, most people are likely going to be working hard anyway?

 

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Please share!      We Love Referrals.

Storage Authority
677 N Washington Blvd.
Sarasota FL 34236

www.StorageAuthorityFranchise.com         Garrett@StorageAuthority.com
1-941-928-1354