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Self Storage Development, News, & Profits October 2020 Newsletter

Self Storage
Development, News & Profits

October 2020

by Josh Parker

Issue # 39

Self Storage Signage for Extra Profits

Your signage can make or break your facility. It is your hello to the community, it’s showing your customers you care and they are in good hands, and it’s first-class brand awareness to your future customers.Signage is important throughout the site,  for drive-by traffic, in the office, and social media!   It sounds easy but after you take a look at this partial list of signage you may have some work to do!

The four basic types of self-storage signage are:
  • Information signage,
  • Price signage,
  • Brand/location signage
  • Soft signage.  Soft signage is not your typical signage but often is the most important.
Each one is critical and done right will add significantly to your profits. Think quality signage you would see in a restaurant or retail business. You may make some of the signage yourself, but they must be computer printed and laminated.  No handwritten signs.  Signage should be branded with your colors and logo.

Information signage

Information signage will lead to more profitable actions by your clients and let them know the rules. Here are a couple of examples:

Counter signs

The Autopay/late fee countersign informs people about late fees and how convenient and how much your clients love autopay.   The client on autopay stays 2 months longer than the non-auto pay customer.  Your goal should be 80% of your clients on auto-pay.  If 20 of your new renters went on auto-pay each month that would be an extra $60,000 a year in profits!   And this eliminates hours and hours of your time collecting late fees, so you have more time for marketing for even more profits.

The Guarantee countersign gives prospects on the fence the confidence to choose you over the competition.  A quick reference to the sign on your way to show a unit will let the customer you care and can be trusted.

disk lock on the counter, one in a package and one open, is a sign of the facility safety and safety is the number 3 people rent (you are number 1 and convenient location is number 2).  To sell a lock to 90% of your renters all you have to say is:  We only sell disc locks because they can’t be cut like butter like shank locks can be with bolt cutters.  They are $17.95 on sale for $12.99 would you like me to cut one open for you?”

Rack cards on the counter to give to customers who do not rent today are a must.

Google 5-star reviews by your customers for your prospective renters to see are a must sign.  Of course, the best way to get them is to do a terrific job providing remarkable customer service and to ask everyone for a review.  You can make it easy and remind your customers by having a google 5 start review handout on your counter to show customers how easy it is to lever a review via their map app.

A Free drink sign on the fridge is one more way to show customers you are different.

If you don’t promote your Facebook page with a sign on the counter or door/window, you are losing profits.


Office Wall signage

People are often renting because they are moving, and you don’t want their food in your facility.  It is super important to remind all renters no food and a wall and gate sign is a must.  Mice are a real headache.  Smile for our camera wall sign reminds customers of your security without you saying a word

Don’t forget your Self Storage Genie App Sign.
Hands-free Gate access is a great selling feature.

Three Free months coupon for nonprofits silent auctions is one more sign to get your facility recognized.  Don’t forget to give them plenty of promotional cards so everyone at the auction gets one.

“Welcome may all who enter as guests leave as Friends”  Our favorite office Sign at Storage Authority.   Just by reading/saying it to every customer makes a difference.

Door & Window Signage

Window Painting for the major holidays is a great way to put a smile on your customer’s face and let them know you are the hometown self-storage and not one of those huge corporate facilities

Here is a 4th of July window.   Flowers in a pot are a nice touch.
In this case, the Flag was painted on 4 Boxes so it could be refused.

The neon Open sign in the window lets everyone know you are open.  They do not have to drive in, so they see you are always open day after day as they drive by.  There are many facilities with very limited hours or are even often closed during their business hours.

Our Guarantee decal on the front door puts your customers at ease and ready to rent before they even enter the office.

Office hours, gates hours, phone # and website decals on your front door or window are a must.

Of course, we now have COVID 19 signs on the door.

No Contact rental sign, rent online sign, and kiosk rent here signage are key to improve after hour rentals.

Magnetic Show Unit signs make it easy for the prospect to register and remember the unit size quickly and even help the new manager remember the size. Magnetic signage makes it easy to change the show unit.  We put a second complete set on the metal door leaving the office so a potential renter can quickly see all the main sizes we have.

And Don’t forget business cards and promotional Cards: Refer a Friend, Free Box, $30 Off first month & Free Vacuum.  They are great handouts when you are visiting the local business.  And don’t forget branded marketing goodies to hand out to businesses.

Gate Signage

You have a captive audience, so this is a great place to provide reminder signs and don’t forget there are 2 sides to the gate so don’t forget to use both sides.  Important gate signs include:
  • Gate & office hours
  • Speed limit
  • One car at a time no tailgating
  • Referral program
  • Prohibited storage
  • Vacating reminders
  • In case of emergency
  • Smile for our Cameras
  • No Smoking
  • And more
 

Site Decorations & signs are the only way to get the drive-by traffic look your way, smile and remember you when they need self storage. The more often you change them the better! They can be holiday-themed items like pumpkins in October or lighted rain deer in Dec.  The key for holiday marketing is to make it remarkable – i.e. people talk about it. I.e. 300 pumpkin give away not 30 pumpkins. A real snowman on your front yard is a good start but how about supersizing to three snowman spray painted red white and blue.

One of my favorite site decorations is extra, extra green grass.  It just takes fertilization 3 times a year.

Feather flags, sandwich board, and banners are a must.  Sandwich boards should be put out front every day and the saying changed every week.  Banners are typically for special events like winter car storage, grand opening and for events like a car wash or free hot dog lunch today.  Open feather flags will turn eyeballs your way.

Yard signs, for events like Congrats Seniors for high school graduation week, or to promote a local sports team on game day or just fun saying help make you different and the hometown premier facility

.

Social marketing posts signs should be posted every day. Pictures with text superimposed get the most views. The easy way is to take pictures around your facility and add Text from an App like Text Art.

Pricing signage

Retailers have known for a long time that items without prices do not sell as well as items with prices.  All products must have a price on it.  Often you will have a sign for the product vs a price on each individual product.  And the retail industry knows everyone loves a sale.  While we do not put our units on sale, we sell a Disc lock to just about everyone because they are on sale from $17.50 to $12.99.  And the other guys are not selling half as many locks as us, even though their locks are priced are $8.99

Two more of my favorites are the box sign buy 9 get one free and the combo box sign, again one box free.  Instead of buying 3 or 4 boxes they will but the 10 pack every time.

Property/Brand Signage

You want the largest ground sign and building sign permitted by the town.  If you can get a reader board, consider yourself lucky!  Don’t skimp on the quality. A quality sign starts the trust process that is critical in all financial transactions.  A good name is part of trust and branding.  For example, Storage Authority is so much better than Back Yard Self storage.

There are several ways to improve on your ground sign including a stone base, well-kept flowers around the base or even a brick enclosure.

It is important to remind people when they enter the door you care about and are proud of who you are with an inside large wall brand sign.

Soft Signage

If you are a real go-getter you want to do everything possible to be a premier facility, I am sure there a few more signs that will make a difference.  And if you consider the broader theme of signage there are so many ways to make a first good impression. Here are a couple:
  • An entrance mat that has your Name, logo, and a tag line
  • Well dresses staff in a logo shirt
  • Parking lot stripes in perfect shape
  • Well-kept yard and Landscaping
  • Entrance lighting and plenty of site lighting – never a light out
  • Super clean units and facility.
  • Flowers in a vase
  • Lawn and landscaping well maintained.
  • A smiling manager who knows the Scripts
  • An office full of products – 300 locks on the wall not 100.
Here is my favorite- a huge bowl of candy!

Boxes stacked in groups of ten is a great sign – buy me instead of a couple of boxes. Get 1 free!
Signage must be considered during the design and budget process.

Notice the kiosk, another sign you care.
An awning over the entrance is a nice sign you care.

How about extra nice exit signs.

Don’t forget to consider a wrapped moving truck to increase rentals.


Build-in Coffee Bar is a must and a huge “We appreciate your business!” sign.

It is easy to fill up two 4’ x 8” slat walls – For good looks and long-lasting
steel slat walls are the way to go but must be ordered in advance.

It is simple – the more signs, the more sales, and the more profits.  And there are a dozen signs from your bank table poster board to grand opening postcards to branded promotional items to……………….. that you will have to add to your inventory to become and stay the local community premier self-storage.  You can do it!

Learn more at
www.StorageAuthorityFranchise.com 

 Or email or call Josh Parker
 josh@storageauthority.com or Direct 203-213-7438

 Photo Of The Month

Storage Authority Land O’ Lakes FL
www.storageauthoritylandolakes.com


  Fun Fact of the Month

We know how important positive review are, and we have systems in place to help ensure your managers have the tools they need to get 5-star review with every sale!


Comic Of The Month


Development Tips and Reminders

Traffic Counts:

Did you know that one of the major metrics for choosing land for your self-storage facility is traffic counts?

High traffic counts, excellent visibility, and easy direct ingress/egress are all essential for your parcel of land. 10,000 – 30,000 cars a day is the range for many Premium self storages.

Make an offer:  Coming next month

First steps of your due diligence: Coming soon


What’s holding you back?  You can do it!  You deserve it!


ARE YOU READY?

Click Here if you want us to email you information on self-storage development basics and the steps to becoming a Storage Authority Franchise.Do you and your team want to avoid costly mistakes in the Development Process? Don’t leave things up to chance check out this link:

https://www.insideselfstorage.com/development/5-costly-snares-avoid-when-developing-ground-self-storage-project

Because together we can make it happen!


 

People ask why I spend so much time helping others learn self storage and execute their plans.  It simple.  I am very fortunate to have had 3 mentors at the exact right times in my career.  Without the mentorship, I would never have been as successful as I am.  So now it is my time to give back. Marc

What Garrett enjoys outside of storage, watching these two live their best life. This is Zena & Larry, their personalities are hilarious. But having them in our life always puts a smile on our face, great companions and protectors to our girls. True best friends and awesome additions  to our family!

Summer might be over, but it just motivates me even more because I know that the harder I work over the winter, the more days I get to enjoy at the lake next summer!  Let’s go fishing!
Josh 



Please share!      We Love Referrals!

Storage Authority
677 N Washington Blvd.
Sarasota FL 34236

www.StorageAuthorityFranchise.com         Josh@storageauthority.com
1-203-213-7438  I Invite you to give me a call – let’s talk self storage.

Josh Parker
Storage Authority
Vice President of Technology & Development 


ARE YOU READY?

2020 Storage Authority FAQ’s

Storage Authority Frequently Asked Questions (FAQ)

 

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  1. Who should consider owning a Storage Authority franchise?

A Storage Authority franchise is right for anyone who wants to combine the best of three investment opportunities – make a solid real estate investment, own your own business, and operate a franchise — for example:

  • Professionals (such as doctors, lawyers, and accountants) or owners of an existing business – people who want to continue their career, while operating a second business opportunity
  • Entrepreneurs — who are looking for an investment with a solid return both in income and in real estate appreciation, now and for years to come
  • Real estate investors — who want higher returns than other sectors, including hotel and apartments, without the headaches of typical tenants
  • Families — who want a strong income cash flow now, into retirement, and into future generations
  • Couples — who want to work together in their own business
  • Owners of an existing self-storage facility — who want to take their business to the next level by crushing the local competition and becoming the preeminent hometown self-storage location

The examples go on and on.  Let’s discuss your situation and decide how “the Storage Authority difference” can help achieve your financial and career objectives.

If you would like to review more information about Storage Authority and becoming a Franchise click here.

  1. What are my options for launching a Storage Authority franchise?

There are four ways for you to launch a Storage Authority business and we have the answers you need, regardless of the option – or the combination of options — that’s right for you:

  • To build a new facility – on property you already own or on property we will help you find
  • To convert an existing building into a self-storage facility
  • To re-brand a self-storage facility that you already own
  • To buy an existing self-storage facility
  1. Why should I join the Storage Authority team as a franchisee?

A franchise gives you independence with guidance — you have the opportunity to run your own business, while benefitting from the support of a tested formula for success and an experienced team of skilled professionals.

Typically, our franchise will make the self-storage business much easier for you and reduces your risks.  It provides benefits and profits that most people cannot achieve on their own.

Franchising is a popular option in a wide variety of industries, notably restaurants, hotels, health, fitness, beauty, and automotive services.  And now self-storage.

Storage Authority is the only self-storage franchise in the United States, and we provide you with important benefits, including but not limited to:

  • Well-developed business model – reduce your learning curve, regardless of your previous experience in business ownership and management
  • Access to proven systems of training, operations, and marketing – rely on a built-in network of support and knowledge (see Question #9 below)
  • National image and brand awareness
  • Guidance about site selection, design, construction, and / or renovation (see Questions #6, 7, and 8 below)
  • Purchasing power with preferred vendors
  • Defined market area of exclusivity
  • Easier to get financing – your business plan and financial projections are more credible when they are built on our historic performance success and when a lender sees that we are part of your team (see Question #5 below)

Opening a business is never a piece of cake, but a franchise can significantly reduce your risk and increase your rewards.  The internet offers many sources for more information about franchising.

  1. What steps are involved in becoming a Storage Authority franchisee and getting your doors open?

To become a Storage Authority franchisee and open your facility, you should expect to go through these 10 steps:

One – Investigate Two Basic Questions

  • Is self-storage right for you? (see Questions #11)
  • Is franchising right for you (see Question #3)

Two – Apply on our website: www.storageauthorityfranchise.com – Apply icon

There is no cost or obligation to apply – and by providing us with some initial background information, we can be better prepared to discuss the specific of your objectives, your situation, and your options.

Three – We’ll Talk So You Can Learn More

After we review your application, we’ll arrange a phone call or Zoom conference to discuss how the Storage Authority business opportunity can help you meet your financial and career objectives.

You’ll be assigned a Storage Authority Franchise Director to serve as your primary contact throughout the due diligence and discovery process.  This enables you to get real answers from a real person.  No long waits for service.  No transfers to multiple staff people.

Typically, two or three phone conversations with your Franchise Director – in conjunction with your independent homework and research – are enough to learn the Storage Authority basics and to confirm that we’re a good fit together.

Four – Review Our Financial Disclosure Documents (FDD)

After you have been approved, we will send you our “Franchise Disclosure Documents and Qualification Package” that is prepared in compliance with the Federal Trade Commission (FTC) guidelines and required format.  It provides thorough information about Storage Authority, about our franchise systems, and about the franchise agreement.

Read this package in detail so you are ready to review the contents with your Franchise Director.

Five – Continue Our Weekly Conversations

You and your Franchise Director will continue having thorough discussions to assist you with the manager-driven Storage Authority systems – from finding land and gaining approvals to designing, building, and financing your facility; from operations to our premium sales, marketing, and more.

Six – Financial Review

Your Franchise Director will discuss the minimum financial recommendations and requirements for developing a Storage Authority self-storage facility, based on your goals and finances.  There are multiple financial options based on the location, type, and size of the development, as well as on the type of loan you plan to use – conventional or SBA.

We can introduce you to lenders who are familiar with self-storage, who understand the value of Storage Authority, and who underwrite both SBA and conventional loans, so you can explore loan options and qualification details.

Seven – Sign Your Franchise Agreement

This is often done as part of a discovery day during which we meet at our offices or at one of our self-storage facilities in Florida to get acquainted in person, but other signing options are possible.  Of course, prior to signing, you may wish to reach out to a few of our existing franchisees – we’ll gladly provide names and contact information.

Eight – Local Site Research and Selection (see Questions #6, 7, and 8)

In close consultation with your Franchise Director, you’ll determine the most suitable location for your facility.

These detailed discussions will go beyond finding land to include building your team, developing facility designs, gaining approvals, and constructing your facility – and how we will assist.  Discussions will also continue about all aspects of our manager-driven systems, notably operations, sales, and marketing.

Nine – Participate In The Storage Authority Owner And Manager Training

We offer a combination of classroom, online, and textbook learning in a variety of skills — such as pre-opening preparations; operations; sales; marketing; accounting; and human resources — so you are completely prepared to open and to do business effectively day-to-day, starting on Day One.

Ten – Celebrate Your Opening Day

It’s time to put all your energy, enthusiasm, and education to work!  We’ll guide you to and through a memorable ribbon-cutting that opens the door to your own special version of the American Dream.

  1. How much money do I need to open a Storage Authority facility – and is financing available?

The exact amount of your initial investment will be different based on the various factors associated with how you are proceeding — buying an existing facility, converting an existing building, or building a new facility.

And if you build a new facility, your investment will depend on factors such as the cost of land; the cost of developing either a single-story or multi-floor facility; and the cost of special features you choose to include.

As further background, it’s important to know about the federal government’s Small Business Administration (SBA) loans.  They are a popular financing option for our franchise owners because the SBA 7a loan requires a down payment of as little as 15% — sometimes in certain situations 10% — on a loan of up to $5 million.

That is why we suggest that to start the Storage Authority process, you have $500,000 to $750,000 available in cash – or in suitable cash and equity in facility property you already own.  This will allow you to make a reduced equity investment – meeting the SBA’s requirements of 10% to 15% — then pursue a loan of up to $5 million for the project construction and carrying cost for a suitably-sized facility in most locations.

Under this scenario, you can build a facility valued at up to $5.75 million.  This represents a substantial self-storage project – one that is not a “hobby business” and one that can be expanded as warranted.

  1. I expect to build a new facility – how much land do I need, and will you help me find the right site?

There are multiple options, but often the least expensive and most profitable is five usable acres that can accommodate at least a 50,000 to 60,000 sq. ft. one-story facility.  A larger parcel of land allows you to offer vehicle storage for recreational vehicles, boats, and cars, plus it will facilitate future expansion, if appropriate.

If you envision a multi-floor building, you typically will require less land – about 1.5 acres or more.  Of course, phased expansion is not typical and construction costs will be higher.

We will help you find the location that is “right” for the demands and competition of your market, which includes an evaluation of existing self-storage rates and the available demand for a new facility location.  Other factors we will review: the size and shape of a location; basic zoning; traffic patterns; availability of utilities; and convenient entrance / exit.

After your offer for a piece of land is accepted, we will collaborate with you and the appropriate real estate professionals during the due diligence period to evaluate a myriad of details about the location that are essential to your success – details such as easements and setback requirements; zoning, typography and slopes; sight lines; wetland, endangered species, surface coverage, or other environmental restrictions; deed ownership / restrictions; and a third-party feasibility study.

We provide guidance as you negotiate purchase and financing of the “right” real estate, and we then work closely with you and your civil engineering / architectural / construction team to develop the optimum site plan and building drawings.

  1. How much will it cost to build a new facility and how long will it take?

Building costs are different in different parts of the country, depending on costs for land; size of the facility; materials and labor; special features or finishes you choose; and zoning / ordinance requirements, to name a few.

For a detailed estimate of costs, review Item 7 of the Financial Disclosure Documents (FDD) package.

For very basic initial planning purposes – until you have more detailed costs for the location and facility that you envision – use these figures: an initial investment of between $5 million and $6 million in development, construction, and carrying costs for a 50,000 sq. ft. single-story facility on five acres of useable land that cost $800,000 or less.  Remember that the project can be – and often is – split into two phases.

The development / construction timeline can be affected by many factors, but a useful initial planning estimate is:

  • 2 to 9 months to research and locate land
  • 2 to 4 months to prepare civil engineering site plan designs
  • 3 to 4 months to prepare architectural building designs
  • 2 to 4 months to obtain appropriate government approvals
  • 8 to 12 months for construction

Note that some of these timelines may overlap or be longer or shorter depending on a variety of factors.

For a free copy of Marc Goodin’s best selling Self Storage Development book and to learn more about Storage authority let us know here

  1. How much are your fees and royalties?

Part of your initial investment is the one-time Storage Authority franchise fee of $35,000.  You have the option of an additional one-time fee of $4,000 for our guidance with development if you are not buying or if you do not own an existing self-storage facility.

There is also a one-time fee of $4,000 for our assistance with preparing a customized Storage Authority website for your location.

There is a monthly 6% royalty fee and 2.5% marketing, sales, technology, and website fee.

  1. How will you help me through the development / construction process?

Storage Authority has developed a proprietary system that carefully guides you step-by-step through the development / construction process — from finding land through pre-opening.  Called the “Dynamic Ease Development Series,” it features seven detailed chapters of information, checklists, and worksheets.

In addition, your Franchise Development Director is available to guide you.

Although the development / construction process is never the same for any two projects, it is always a close collaboration between you, your Storage Authority representatives, and your development team.  You get the guidance and the answers you need, when you need them, so you can make the decisions and initiate the actions necessary to move your business forward.

Here is a simple outline of the “Dynamic Ease Development Series:”

  • Chapter 1 – Introduction
  • Building Your High-Performance Team
  • First 30 Days
  • Development flow charts
  • Worksheets
    • Major Development Milestones Checklist
    • Competition Review
    • Developer Secret Shop Review
    • Partial Designer & Vendor List
    • Vendor Approval Request Form
    • Management Software Interfaces
  • Chapter 2 – Land
  • The Basics Of A Good Location
  • Typical Basic Land Requirements
  • Hiring A Quality Broker To Assist You With Finding Land
  • Additional Ways To Find Land (including offline)
  • Initial Land Review Prior To An Offer Or Feasibility Study
  • Making The Offer & Due Diligence
  • Feasibility Study
  • Worksheets
    • Sample letter for contacting landowner
    • Questions for first meeting with government planner / staff
    • Land parcel info
    • Site drive-by
    • Initial zoning review
    • Land offer
  • Chapter 3 – Purchasing An Existing Self-Storage Facility
  • Seven Primary Steps Of A Real Estate Transaction
  • Investigating An Existing Facility
  • Chapter 4 – Banking / Lending
  • Loan Options
  • Loan Considerations
  • Often Over-Looked Expenses
  • Worksheets
    • Loan Request Letter & Summary
  • Chapter 5 – Design & Regulatory Approvals
  • Finding Design Consultants
  • Site Plan Design
  • Regulatory Meetings
  • Building Design
  • Security Design
  • Video Surveillance Design
  • Worksheets
    • Additional Site Plan Design Items To Consider
    • Additional Building Design Items To Consider
    • Site Details
    • Owner “To Do” During Design Process
  • Chapter 6 – Bidding & Construction
  • Finding A Contractor
  • Construction Specifications & Bidding
  • Example of Schedule of Payment Categories
  • Construction Review
  • Chapter 7 – Pre-Opening Preparations
  • 120 Days Prior To Opening
  • 30 Days Prior To Opening
  • Pre-Opening Marketing
  • Worksheets
    • Pre-Opening Checklist
    • Unit Pricing
    • First Office, Site & Product Order
    • Component Depreciation Contact Flyer
    • Pre-Opening Sessions With Your Franchise Director
  1. What kind of training and support will I receive from Storage Authority – before I open, then on an ongoing basis as I operate?

Our business model includes a combination of classroom and textbook learning that covers your Storage Authority business, from start-up through day-to-day operations.

We have a training center in Florida where training classes are held regularly throughout the year.  You and your manager will attend three days of initial training classes at a time that is most convenient for you.  You and your manager will also receive online / phone training during the four-week period immediately prior to opening.

In addition, you will have our unmatched package of easy-to-understand, proprietary manuals for convenient reference at any time.  Professional education reminders and updates are ongoing at Storage Authority, using a variety of platforms.

Together, the training classes, the manuals, and your Franchise Development Director provide comprehensive professional education: 

  1. How much does a Storage Authority franchise make?

We do not predict sales, costs, or profits for any Storage Authority facility because these figures are impacted by a variety of factors from market to market and from owner to owner.  However, we do encourage you to carefully review the examples in our Franchise Disclosure Documents (FDD), which you will receive when your application is approved.

After you chose a location, you will arrange a feasibility study to be conducted during the due diligence period by a qualified independent third-party.  The results will provide you with a lot of detailed information, including analysis of demand; construction and start-up costs; break-even projections; and profit estimates.

We urge you to discuss the Storage Authority business opportunity with your trusted financial advisors, notably your attorney and accountant.

  1. How can I learn more about self-storage, including the market demand in my target area?

We recommend that you research two topics — self-storage and franchising.  There is abundant information about both subjects on the internet, and new articles are available regularly with the most up-to-date details.

If you conduct Google searches for “self-storage industry” and for “franchising pros and cons,” you will find a rich inventory of sources from which you can choose your reading.

Information about a specific market is typically available from a variety of local, county, and state agencies, business commissions, or planning groups that deal with economic development.  However, acquiring data from government sources can take a lot of time and paperwork.

Online apps are available to deliver market information quickly and easily for a small fee.  We can provide links to these services and guide you through using them.

Two other sources of information are:

  • The national Self-Storage Association (SSA), which is headquartered in Alexandria, Virginia –selfstorage.org
  • The self-storage association in your state, for which you can find contact information online

You should consider joining these two groups for ongoing information and networking.

Why not you why not know.  To get more information and to talk to a storage Authority Franchise Director: storageauthorityfranchise.com/opportunity1/  or call Marc Goodin @ 860-830-6764.

Screen Shot 2016-01-02 at 9.01.40 PM

Marc & his wife GP enjoying a toast on a freshly poured self storage foundation

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 Franchise Award Steps 2020

Storage Authority Franchise Award Steps

“Franchising means being in business for yourself but not by yourself”

The goal of the discovery process is for you to understand Storage Authority Systems, its high end “Ritz” Sales & Marketing, over the top, remarkable hometown customer service and operation philosophies so we can determine if we are a good fit for each other.

While we believe self-storage is the best business for many people, our role is not to convince you self-storage is for you. If you have not done enough research to know if self- storage is for you let us know and we can guide you on how to continue your research.

Basically, we do three main things for you:

1) We help make self-storage easier for you and reduce your risk.

   2) We help you save time and money.

   3) We put franchisees in a position to make more profits and have many other benefits

       they typically would not have on their own.

 Step 1

Continue learning more about Storage Authority by reviewing the materials we provided you and reviewing our website including FAQ’s, About us and our Blog/Newsroom.

Confirm you have the required $500K Minimum to $750K cash equity recommended to be approved for a franchise.

To get more reading material including Marc Goodin’s best selling Self Storage Development book and to talk to a storage Authority Franchise director:  storageauthorityfranchise.com/opportunity1/

Call or Zoom # 1

Have an introductory conversation with your Storage Authority Franchise Director so we can learn more about each other. And to review the advantages of the 3 main Storage Authority Platforms:

#1 New Development          #2 Operations      #3 Customer Service, Sales, Marketing          

1)  Finding land                     1) Manager Driven      1) Over the top customer service

2)  Planning & Design          2) Automation           2) Remarkable PR

3)  Construction                    3) Scripts                   3) Gorilla Marketing

4)  Pre Opening                     4) Manuals                 4) 50% environment & 50% team

5) Avoid Land Mines            5) One on one            5) Ritz vs Motel 6

If you would like to continue the discovery process the next step after our first call/zoom is for you to complete our application on our website. Apply Icon   Once we approve you, we will send you our Franchise Disclosure Document (FDD) & Franchise Agreement. The FTC requires every Franchise to present an FDD to interested buyers. The FDD provides a wealth of information and specific details about our franchise.

Apply for a franchise on Storage Authority website – Apply now icon

www.StrorageAuthorityFranchise.com

Once approved we will send out the Storage Authority FDD for your review

Call or Zoom # 2

Once you have read the Franchise Disclosure Document (FDD) we will have a call/zoom conference to review the FDD, finding land and the development process.

 Continue Learning

  • Order self-storage trade magazine at InsideSelfStorage.com (ISS) and use their search bar to find Self Storage articles of interest to you.
  • Visit several existing self-storages with a copy of the Storage Authority Competition review checklist so you can better rate them and compare them to Storage
  • Read our CEO Marc Goodin’s Self-Storage Development

4)    Discuss loan options and requirements with lenders.  Your Franchise director will provide you will lenders that understand Self Storage, Franchising and Storage Authority.

  • Review materials provided by your Franchise Director.

Call or Zoom # 3

Further review of The Storage Authority Operations, Sales & Marketing philosophies and your questions.

Determine if you are ready to proceed to be a Storage Authority Franchise Owner.

If not let us know if there is any additional information you need to make a decision.

If you are ready, the final steps to getting started are:

1.     Decide if you want to meet with us in Florida.

2.     If we are not going to meet in FL we will overnight the Franchise Agreement for your signature.

3.     Once signed up we will have your Storage Authority kickoff call/zoom that includes:

  • Summary of the Storage Authority Operations Manual and the multiple Storage Authority Modules.
  • Using the Storage Authority Dynamic Ease Development Module.
  • Land requirements, finding land online and offline, self-storage demand.
  • Building your development team.

To learn more now: storageauthorityfranchise.com/opportunity1/ 

or Call Marc Goodin Direct at 860-830-6764

September 2020 Development, News & Profits

Self Storage
Development, News & Profits
September 2020
by Josh Parker

Issue # 38
Has the Time Come for the Unmanned, 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 Manager,
Which would you choose?

We know self-storage automation to the point that an unmanned rental office is possible because there are more and more unmanned facilities every year.Full rental automation simply 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 dispense locks.  Even if you are not going fully automated a kiosk will make you more profits because you will not miss after hours rentals to your competition.  With the recent flood of use due to COVID 19, call centers are on overload. This increased demand has lead to many new hires and a reduction in quality, so it is even more important your well-trained manager answers the phone whenever possible.

Here is the latest 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 a backup when a manager is not onsite for any reason.

The second item required for an unmanned self storage facility is the 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.  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 may become standard even for a manned facility………….Read more here: https://www.storageauthorityfranchise.com/news_room/1268-2/ 

The Future is so bright for self storage we have to wear sunglasses.

For sure COVID 19 has changed many things in the world but most people are going back to their old habits of spending money, eating out, going to the beach, and yes, back to work.  The biggest long term impact will be threefold. 1) Many have lost a loved one.  2) For some, their job is gone forever or at least long enough to create a financial nightmare. 3) The population as a whole took a huge step to doing just about everything on the internet.What does this mean for Self Storage?  It means self storage has to come out of the dark ages and learn from the business world.  Not all hotels are created equal, not all coffee shops are equal, not all restaurants are equal, and not all self storages are equal.  For many self storages who were prepared, 2020 will be their most profitable year yet.  Read why here:  Want to learn some of the hows & whys of 2020 profits? Email me! Josh@storageauthority.com

Which Lock will sell more?  No doubt the Storage Authority lock on the right!
Which Lock will make the most profits per lock sold?  No doubt the Storage Authority lock!
Which lock will help brand your facility to rent more units? Right again the Storage Authority Lock!

Not to pick on the competition but it is time to learn the retail business.  Everyone loves to buy on sale.  In our case, it is easy to see the retail price and the huge “on sale” sign.   Plus we assume the sale, have a lock script, and we sell a lock to just about everyone unless they walk into the office with their disk lock in hand.

Scarcity is one of many selling options.  And is best done without the manager having to say much to the customer.  And even customers know not to even expect a discount or special!

Learn more at
www.StorageAuthorityFranchise.com 

 Or email or call Josh Parker
 josh@storageauthority.com or Direct 203-213-7438

Photo Of The Month

One of our managers painted this Eagle on our front window for the 4th of July.
Window painting is one more way to make your facility stand out!

Fun Fact Of The Month

Comic Of The Month

Development Tips and Reminders

Once your land offer is accepted you need to move full speed ahead, but before you make an offer here are the basics:

Pre offer:

Item                                                                                                    Findings

Confirm zoned for Self-Storage & list permits and approvals required
Confirm land size is suitable for the proposed sq. ft.
Confirm demand is needed via a mini demand study.
Confirm Zoning building front yard, side yard & Rear yards
Confirm landscape setbacks and requirements.
Confirm Architectural requiem
Confirm impervious area coverage limits
Confirm Building coverage limits
Confirm water & Sewer is available along your frontage and has capacity.
Review existing wetland mapping
Review existing endangered species mapping
Walk site (preferable with your civil Engineer) to observe slopes, easements, wetlands etc.


Review the site with your civil Engineer for their input on the site and time frames for design and approvals.
Review the site with your Architect. Get their input on building design times.
Review the site with your contractor to get their input.
Prepare a conceptual plan for your team to review and provide input on.
Meet with the Town Staff

Make an offer:  Coming next month

First steps of your due diligence: Coming soon

 Franchise Defined…….
The mutually beneficial relationship that exists between franchisors and franchisees makes franchising unique in the world of business. While franchising does provide opportunities, it does not create miracles. Franchisees and Franchisors combine knowledge and resources with entrepreneurial drive and spirit to form a business relationship unique to franchising. Franchising is a field of expanding economic opportunity in which each and every person can play a part based on talent, initiative, and dedication. The number one reason people choose a Franchise over doing on their own is because of the rewards and benefits they typically would not have on their own.

       

What’s holding you back?  

You can do it!  You deserve it!

____________________________________________________

          ARE YOU READY?

If what the other guy is doing is normal I vote for Not Normal!

Click Here if you want us to email you information on self-storage development basics and the steps to becoming a Storage Authority Franchise.Do you and your team have a plan to be prepared to get approvals? Don’t leave things up to chance check out this link:

ISS – Self Storage Planning and Zoning: A Facility Owner’s Guide to Getting Project Approval.

Because together we can make it happen!

It has been a long time since it was about money.  Now it is about the many freedoms and choices that self storage has and continues to bless us with.  Just think half the time I don’t know what time I go to bed or what time I wake up.  Is so simple – go to bed when tired and wake up when done sleeping – no clocks or phones in the bedroom.  And I am motivated to make it happen for you!  Marc
Garrett’s Motivation outside of Storage Authority is Sarasota, FL sunsets with the family.  There is nothing more decompressing than taking in the sounds from the ocean while the sun is setting and getting to enjoy family time together.
I love a good beach vacation!  Recently, I found this old postcard in my storage unit and I was reminded of our beach vacations growing up. Now I get to enjoy relaxing vacations with my kids and make new memories.  Self storage makes enjoying family time so much easier because I have more time and more money to do the things I love! Let’s go!
Josh 

 

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Storage Authority
677 N Washington Blvd.
Sarasota FL 34236

www.StorageAuthorityFranchise.com         Josh@storageauthority.com
1-203-213-7438

Josh Parker
Storage Authority
Vice President of Technology & Development 

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Why Do Lenders Love Self Storage?

We often get asked how does self-storage perform during a recession? There is nothing that is recession-proof but as you can see from the chart below referencing 30+ day delinquencies self-storage outperformed all of the other real estate asset classes during the last downturn. Self-storage has the lowest failure rate and lenders love lending to one of the safest real estate investments/businesses out there.
#selfstorage #franchising #realestateinvesting

Failure rates Capture

Storage Authority Franchising is about owning your own hometown self storage business and having the professional systems and knowledge to assist and guide you. We like to say You are in business for yourself but not by yourself.  If you are thinking about self storage you owe it to yourself to contact  Garrett Byrd at 941-928-1354 or Garrett@StorageAuthority.com to learn more about the Storage Authority Franchise opportunity.

What Is A Franchise Disclosure Document? (FDD)

by: Josh Parker

 

When I became part of the Storage Authority Team one of the first things I had to do was read and re-read the Storage Authority Franchise Disclosure Document (FDD).  I am not an attorney but I can say without a doubt an FDD is repetitive dry legalese. I say this because not only does it include the Franchise Agreement but it has a very detailed description of the Franchise Agreement, by section and sub section. By the time you’re done reading you feel like you read many things twice.

A Franchise Disclosure Document (FDD) is a document that every Franchisor must provide to a potential Franchisee for their review. It is a legal document in a format required by the Federal Trade Commission. Consisting of several parts, the FDD gives potential Franchisees insight into who the Franchisor is- even providing an idea about the past and the future of the Franchisor. The Franchise Agreement provides the responsibilities of both the Franchisee and the Franchisor. Typically a potential Franchise must acknowledge the receipt of the FDD at least 14 days before they can sign a Franchise Agreement.

Screen Shot 2020-09-15 at 2.53.30 PM

The FDD along with several conversations with the Franchisor, will give you the insights and info to determine if you are good fit for a Franchise. An FDD also provides important financial information such as estimated expenses, development costs, Franchise fees, Royalty fees and more. There are 23 items in an FDD, and they are all important.

In his book Grow to Greatness, Steve Olson says this: “most people are overwhelmed when they first read an FDD.  They’re thick, extensive and repetitious… You may want to review sections in intervals, rather than all at once.  Be sure to make a list of questions as you go through it”  That is spot on advise. The good news is the Storage Authority FDD is shorter than most.

Olson also makes this important observation, “You’ll notice that the documents are tough, one-sided, and biased… They are designed to protect the brand. They’re written to safeguard the quality of products and services that make a franchise system so successful.”  The way I think of it is, we are protecting all our Franchisees by insuring one or two bad apples don’t ruin things for everyone else.

Getting a copy of the Storage Authority FDD is simple.  All you have to do is take 10 minutes to complete the application on our website – www.storageauthrotiyfranchise.com, apply icon.  And once you are approved we will send you our FDD to review.

When you ask what a FDD is, you should also be asking “What is a Franchise?” Franchising is one of the most successful business models ever introduced to entrepreneurs. One way we like to say it is this, “Franchising means being in business for yourself but not by yourself.” The mutually beneficial relationship that exists between Franchisors and Franchisees makes Franchising unique in the world of business. Franchisees combine knowledge and resources with entrepreneurial drive and spirit to form a business relationship unique to Franchising. Franchising is a field of expanding economic opportunity in which each and every person can play a part based on talent, initiative, and dedication.

FA Pic

Of course, you can’t learn everything about a Franchisor from an FDD and that is why is important to get to know the Franchisor team to confirm you are a good fit. Visiting them and one of their locations is a great idea, or at least have multiple of zoom meetings.  It always a good idea to learn more about the Franchisor and his systems by talking with an existing Franchisee.

We are happy to review the Storage Authority Franchise opportunity including the Storage Authority Franchise Disclosure Documents with you!  Just give me a call or send me an email.

Josh Parker is a Franchise Director at Storage Authority LLC, the only self-storage franchise in the US. When Josh is not helping out a Franchise Owner and their staff he is using his sophisticated computer and technology skills to make sure Storage Authority franchisees have access to the latest software and hardware that increase operating efficiency, heighten customer satisfaction, and improve the bottom line. Put simply, Josh knows that effectively managing large facilities means paying attention to small details.  It’s how he is building the technology systems that are building value for our owners. He can be reached at Josh@StorageAuthority.com or directly at 203-213-7438 to answerer your self-storage franchise, development, marketing, sales and operational questions.

Has The time come for the unmanned, automated self storage rental office?

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 Manager,

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 simply 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 dispense 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.  With the recent flood of use of call centers due to COVID 19 call centers are on overload and have many new hires reducing the quality so it is even more important your well-trained manager answers the phone whenever possible.

Here is a facility I designed that 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 manager is not there for any reason.

The second item required for an unmanned self storage facility is an individual door look 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 may 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 has 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 100 percent 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 is 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 unmanned 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 to customers 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, ridiculously 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 opportunity 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 great scripts.  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 kiosks provide 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 the kiosk or needs to rent after hours.

Some owners simply 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 facility 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 the leaders in unmanned facilities.  Their website headline is Lease by Phone, Website or Kiosk. They have improved the unmanned 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 unmanned facility. 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 websites clearly note 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.

The bottom line, we will be seeing more unmanned facilities because many owners and management companies do not want to take significant time and effort to prepare and implement the self storage managers operations, sales and marketing systems and platforms and 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 passed on.

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 be reducing costs by shortening the manager’s hours.  The days of the self storage office having to be open from 8 am to 8 pm seven days a week can be replaced with closed Sunday and reduced hours the rest of the week if you have the automation and the right expertise.

Would you like more information and be contacted regarding a Storage Authority Franchise? Click Here

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.

August 2020-Huge Announcement from Storage Authority!

 

Self Storage
Development, News & Profits
August 2020

What’s new at Storage Authority?

I am Josh Parker and happy to report I am new, and excited to be part of the Storage Authority team. Here is my official bio:

Josh Parker
Vice President, Technology & Development 

Today’s high-tech business world moves at the speed of electrons.  Josh uses his sophisticated computer and technology skills to make sure Storage Authority franchisees have access to the latest software and hardware that increase operating efficiency, heighten customer satisfaction, and improve the bottom line. He earned his undergraduate degree at Central Connecticut State University and has almost 10 years of experience in developing solutions that empower a business to move in new directions.  His most recent responsibilities were to enhance the efficiency of manpower schedules, work orders, and supply management at a 300,000 sq. ft. medical center in Connecticut.

Put simply, Josh knows that effectively managing large facilities means paying attention to small details.  It’s how he is building the technology systems that are building value for our owners.

But more importantly: I love new and old technology, computers playing the guitar and photography, which I will be able to put to good use at Storage Authority, except maybe my music. I grew up and presently live in New England with my wife Taylor and our daughter and son.  After a couple more weeks in the trenches working side by side with managers at a couple of Storage Authority facilities I will be ready for my first assignment – making social marketing easier for the managers.  If you’re thinking self storage is in your future let’s talk 203-213-7438.

Fall is shaping up to be a busy construction season for Storage Authority with phase 2 underway at 3 locations.

Congratulations to Jerome & Geraldine, their land offer was just accepted and they have already hit the ground running!

Congrats to www.StorageAuthorityWaltersRd.com for reaching 95% occupancy!

Congrats to www.StorageAuthorityMonmouthRd.com.  They have surpassed 70% full in just 9 months and are planning phase 2 for this fall.  And they are enjoying the extra profits of following the system – over 80% of customers are on autopay by using the script consistently!

www.StorageAuthorityLandOLakes.com has hired their first manager and he is training weekly with Garrett to learn the ropes before they open next month.

One great thing we are excited about is the synergy where franchisees are helping each other as we open more new sites.

Here is some Self Storage Industry Data from Neighbor.com

Annual Self Storage Industry Revenue

Industry revenue   $39.5 billion 2019
1-year revenue increase 3.6% 2018 vs 2019
10-year revenue increase 49.4% 2010 vs 2019

The self-storage industry’s annual revenue in 2019 was a whopping $39.5 billion USD, according to IBISWorld. With a 3.6% 1-year increase and a nearly 50% increase since 2010, industry revenue continues to be one of the fastest-growing sectors in the US economy.

Self Storage Industry Annual Revenue (U.S.)

Look at those projections!  Why not you why not now?

Facility Ownership

By Facility Count
   Small operators 73%
   Public operators 18%
   Top 100 operators (excluding public) 9%
By Rentable Square Footage
   Small operators 52%
   Public operators 32%
   Top 100 operators (excluding public) 16%

73% of all U.S. self storage facilities are owned by small operators. Public companies and REITS own 18% of facilities and the remaining top 100 operators own 9% of facilities.

The untold story is the percent of square footage owned by the large operators grows every year as they build larger facilities.  The good news is Storage Authority is ready to help you develop your self storage that meets your investment goals your community needs.  See full article at https://www.neighbor.com/self-storage

Learn more at
www.StorageAuthorityFranchise.com 

 Or email or call Josh Parker
 josh@storageauthority.com or Direct 203-213-7438
            We love this sign at Storage Authority Monmouth Road! 

Development Tips and Reminders

There is simply to much to remember during the development process and that is why Storage Authority has developed two checklists.  A development checklist and a pre-opening sales and marketing checklist.  Here is a great article from the Inside Self Storage trade site and magazine you will want to read.
ISS – A Checklist for Self Storage Development Success.

Our founder Marc Goodin mentioned today he is writing an article on the key factors of making a land offer. I asked him for the 3  most important factors. Below are his answers.  Don’t forget to check the full article on our blog next month.

1) Make sure you have done enough initial research on the land, self-storage demand, and the owners so you can offer that makes sence for everyone.

2) Make sure you have your team in place so you can hit the ground running when your offer is accepted.  This includes your civil engineer, architect, contractor, attorney, self-storage expert, and banker.  If you have your building manufacture on board for the design process all the better.

3) Make sure your option has enough time to get through the design and approval process, Construction bidding and banking.  It may look like this:

Due diligence period  – 60 days
Design & approval period 180 days
Additional extensions if required 90 to120 days

You need to work with your team to make sure you can meet your schedule.

Since day one Storage Authority required online renting and a kiosk for touchless rentals and after-hours rentals.  Now everyone is jumping on the bandwagon.  Here is a video on kiosks from Open Tech our video and call center vendor and experts. https://vimeo.com/382621431

What is a Franchise Disclosure Document? (FDD)

It is a document that every franchisor must provide to a potential franchisee for their review, typically 14 days before they can sign a franchise agreement.  I just read the Storage Authority Franchise Disclosure Documents and in layman’s terms I would say that a Franchise Disclosure Document (FDD) is a regulated, legal, dry, repetitive “get to know us.” It is a legal document in a format required by the Federal Trade Commission that consists of several parts that gives potential franchisees incredible insight into who the franchisor is, what they do, as well as giving you an idea about the past and even the future of the franchisor. It provides the responsibilities of the franchisee and the franchisor.

An FDD provides important financial information such as expenses and initial investment estimates, financing, franchisee obligations, and more. All in all, there are 23 items in an FDD, and they are all important.  One big one, is the Franchise Agreement. It is the nuts and bolts agreement between the franchisor and the franchisee that lays it out in detail what it is that each party is agreeing to.

You don’t have to be intimidated by an FDD!  I remember the first time I was handed an FDD and I thought “what am I getting myself into?”  And wouldn’t you know, the FDD told me EXACTLY what I was getting into!  The FDD answered all of my questions!  Once I sat down and read it carefully, I had a much clearer picture of the franchise. And even better the franchise agreement along with several conversations with the franchisor will give you the insights and info to determine if you are good fit for a franchise.

Getting a copy of our FDD is simple.  All you have to do is take 10 minutes to complete the application on our website – www.storageauthrotiyfranchise.com, apply icon.  And once you are approved we will send you our FDD to review. We are happy to review our Franchise opportunity including the Storage Authority Franchise Disclosure Documents with you!  Just give us a call or send us an email.

       

What’s holding you back?  You can do it!  You deserve it!

____________________________________________________

          ARE YOU READY?

Click Here if you want us to email you information on self-storage development basics and the steps to becoming a Storage Authority Franchise.Do you and your team have a plan to be prepared to get approvals? Don’t leave things up to chance check out this link:

ISS – Self Storage Planning and Zoning: A Facility Owner’s Guide to Getting Project Approval.

Because together we can make it happen!

When you’re three, everything can seem “too big,” just like my son’s umbrella!  One thing I’ve learned, is that dreams can never be “too big!”
You Can do it!  Josh
Here is the sunset at 8:20 last night. Sunsets out my door motivate me.  To your Success! Marc
Garrett’s motivation is spending time with his daughters. A weekend bike ride with the dogs, is priceless! Although, everyone is ready for school to start back up, it’s been the longest spring break ever! Haha!
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Storage Authority
677 N Washington Blvd.
Sarasota FL 34236

www.StorageAuthorityFranchise.com         Josh@storageauthority.com
1-203-213-7438

Josh Parker
Storage Authority
Vice President of Technology & Development 

July 2020 – Storage Authority Facility Virtual Tour Video

 

Self Storage
Development, News & Profits
July 2020

Storage Authority is Looking for Its Next Team Member!
Some prospects and franchisees ask how we will handle the growth.  First growth is a great sign and beneficial for all our franchisees.  It provides for the economy of scale which is very beneficial for each franchisee.  And we truly believe in hiring the best people.  People with more experience, different experiences, just like the saying – hire people smarter than you.
Here is part of our ad.
Storage Authority is the nation’s only self-storage franchise.  Our home office is located in Sarasota FL.   Our Team is dedicated to our growing network of franchise owners, providing them with innovative marketing, industry-leading technology tools, professional business development support, and hands-on training. Our company culture thrives on innovation, teamwork, enthusiasm, and diversity and we are looking for a team player ready to help us shake up the self-storage industry.

We are defined by the great people who enjoy doing it all – including sales, technology, business development, marketing, training, accounting, finance, compliance, and more. You may be the right fit if you have a passion for self-storage and consistently generate results – as we do! We take pride in our accomplishments and are constantly aiming for new heights. If you want to be a part of the hard-working team supporting self-storage professionals around the nation, join Storage Authority.

You will be an essential part of our Franchise Development team, which is responsible for the growth of the franchise business throughout the U.S. If you are an experienced franchise sales representative looking for a great career, are highly motivated, and have a passion to help others in starting their own business, come join our winning team! Franchise experience preferred.

Last month’s staff profit center training was locks and boxes.

Did you know boxes are marked up 100% and locks 150%?  If you sell 30 locks a month that is $2,500+ extra in your pocket at the end of the year.    But the big payoff is your chances of your tenants being robbed drops substantially if all units are locked with a disk lock.  So the moral of the story is only to sell Disk locks and require every unit to be locked at the time of rental for everyone’s peace of mind.

This month’s staff training was on late fees and administration fees.

These fees add up to over $10,000 a year in profits.  And the reason they are not collected is because; 1) they are not explained well to the staff; 2) staff is not trained well with specific scripts and 3) they are not mandatory.  Often the owners do not have the time or experience to train the staff.

That’s one of the many values Storage Authority provides.  Owners simply have to embrace the Storage Authority systems, training, and platforms that make it easy.

We even have the signs designed for you and a sign vendor ready to ship to you today!

Learn more at www.StorageAuhorityFranchise.com 

 Or email or call Garrett Byrd
Garrett@StorageAuthority.com or Direct 941-928-1354

Storage Authority Monmouth Rd Facility Virtual Tour

Storage Authority Monmouth Rd created a first-class presentation of a virtual tour of their facility.  This is posted on their website for customers to go and take a site tour from the convenience of their home. This is a great tool for management to send to customers while on the phone to give a virtual tour.  This will give the customer great confidence in renting over the phone or online which will increase phone/online rental conversions.  The virtual tour can also be used as a follow-up tool as well after phone inquiries and reservations.  Great job to the Monmouth Rd Team, very forward-thinking and customer-centric!
Video tour on the website is at the bottom of the home page. Storage Authority Monmouth Rd.

Development Tips and Reminders

Land:

Half our franchisees find land offline.  And we are looking to make it even easier.  We are setting up and an ongoing social media campaign in the cities our Franchisees are looking to buy land.  The goal is to have landowners contact us if they have land that meets our criteria and is willing to sell.

Profit and loss, especially during the rent up are critical to the profits.  When I build my first facility 5% of the sf rent up per month was standard.  But that was back in the day of build it and they will come which is long gone.  Now build it in the right location, know how you are going to be different than the competition and have a detailed marketing plan. Now experts are saying the rent up is closer to 2 to maybe 2.5% rent up a month.

The point is long before you look for the land you better have a written list of 100 to 200 concrete ways you are going to be better than the competition in your black book of profits.  And having better customer service is not nearly specific enough to count as a concrete idea.  Here are 5 ideas:

1- Have a kiosk by Open Tech Alliance.
2- Have a large sign with a light above the Kiosk: Rent Here / Pay here.
3 – Have your phone answered from 7 am to 11 pm
4 – Build a 10 x 20 unit in your office.
5 – Spend $100,000 on landscaping to impress your renters.

As you can see many great ideas to make you better must be determined before design because once a facility is built it is too late.

The Street View
First impressions and the entrance is a key component of any self-storage because this is the potential renters’ first impression of a facility.  And first impressions are huge in self-storage.

As you can see in these Storage Authority Monmouth Road aerial views a roadside facade is a  requirement for a new facility if you are going to have an awesome first impression.

       

What’s holding you back?  You can do it!  You deserve it!

______________________________

          ARE YOU READY?

Click Here if you want us to email you information on self-storage development basics and the steps to becoming a Storage Authority Franchise.

Why Storage Authority Franchise Pros & Cons Article Link:

https://www.storageauthorityfranchise.com/news_room/the-pros-and-cons-of-self-storage-franchising-is-it-the-right-path-for-you/

Because together we can make it happen!

My mom always said everyone is an artist.  I am not sure if I qualify. I like to try different mediums so you can find a clay bowl I made in my office holding my pens and the concrete fish work outside at our front door and a lot of other strange artwork when you visit us.
You Can do it!  Marc
I love to cookout with friends!  Here I am in our 5th wheeler parked on the ocean for the summer.  To your Success! Marc
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Storage Authority
677 N Washington Blvd.

Sarasota FL 34236

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

Garrett Byrd
Storage Authority
Vice President of Franchise Development

 

June 2020 – Self Storage Development, News & Profits

 

Self Storage Development, News & Profits

New Storage Authority Marketing Partner
Engage 21

After months of research, zoom meetings, and even trial & error we are excited to announce our new marketing partnership with Engage 121.  One thing we love about them is they are high tech, high touch.   In other words they just a phone call away and results-oriented so their services are developed to meet your needs.

For example:

They provide the copy and artwork and review options and results with you one on one.

They not only will make sure your Google My Business page is fully operational but can make weekly posts.

Don’t have the time to do your monthly newsletter – no problem Engage 121 will do it for you.

They will keep stock Storage Authority photos and your photos available for posting. engage 21 will even make monthly videos for more engaging marketing.

The list is long and we can’t wait to share the details with Franchisees very soon.

Self Storage Profit Centers – Locks & Boxes


Last month profit center was Tennant Insurance (or better yet a Protection Plan)  If you took the time to do the math: 400 units x $9/profit = $43,000 a year in profit!  You should be excited knowing you have 6 more profit centers to make extra profits.

This month’s staff training was on locks and boxes. Sounds like small potatoes. But big profits are made by being good at a lot of profit centers.  Just learning and implementing one a month for a year is an extra 6 figure income.

What is the best way to implement profit centers for maximum profits?  The best way is to have Scripts for each one.

Here is our New Script For Storage Genie App that helps us rent more units:

Our Storage Geni phone App provides easy hands-free access.  You don’t have to worry about hitting the entrance keypad and you don’t even have to take your phone out of your pocket.

And you get our incredible Storage Geni app for just $4.99/month. Pause  And if you rent today I will give it to you free for life.


The Geni Script and other profit-making scripts are in the Storage Authority Library.

The Economy & Self Storage Rates

Many things are heading back to pre COVID 19 levels. This can be seen with this chart on new Mortgages, an important indicator for self-storage.

Now is not the time to get into the COVID 19 syndrome I see some self-storage owners falling into:  “Because of COVID 19, I need to reduce rates or give a discount, waive late fees or defer payments.”

In the last recession (2009) the self storages that did just the opposite and expected to get paid did the best.

Learn more at www.StorageAuhorityFranchise.com 

 Or email or call Garrett Byrd
Garrett@StorageAuthority.com or Direct 941-928-1354

Development & Construction Tips and Reminders

Land:

How many people are you asking if they know anyone who has 5 acres of land on a main street?  Set yourself s goal.  We find half our land offline.

Are you spending 3 hours every Saturday or Sunday driving down the main roads you scouted on Radius looking for land?

We are developing a new web/social marketing presents that will allow landowners to find us if they have land in areas where new franchisees are looking for a property!

Conversions:

As noted above a lot of the economy is improving quickly but some areas are not. And I bet new commercial development is not one of them.  Which means better land prices.

The Office
 

The Office and Entrance is a key component of any self-storage because this is the potential renters’ first impression of a facility.  And first impressions are huge in self-storage.

As you can see in these Storage Authority Land O’ Lakes updated Construction pictures, they are going to have an awesome first impression.

       

What’s holding you back?  You can do it!  You deserve it!

____________________________________________________

          ARE YOU READY?

Click Here if you want us to email you information on self-storage development basics and the steps to becoming a Storage Authority Franchise.

Why Storage Authority Franchise?

https://www.storageauthorityfranchise.com/news_room/the-pros-and-cons-of-self-storage-franchising-is-it-the-right-path-for-you/

Because together we can make it happen!

I love that our main marketing is being a part of the community.  We were given the red heart award!   You Can do it!  Marc
I love to garden!  Here are 3 of 30 Hostas I planted at my fishing cottage.  To your Success! Marc

 

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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

Garrett Byrd
Storage Authority
Vice President of Franchise Development