1-844-33-STORE

info@storageauthority.com

News Room

Where Else Can You………….No Where



Where Else Can You………….No Where

When people investigate Storage Authority and our franchise system we have found there are four major categories of prospects:

  1. Tire kickers.  The facts or nothing we say or do will make a difference.  The are not part of the 1% who will ever own their own business.

  2.  Prove to me …… or why do I need you prospect.  Again the facts or nothing we say or do will make a difference.  They had their minds made up long before they called us.  When the conversation of self storage comes up they will be the ones who say ” I was going to do that but the guy down the road beat me to it”

  3. Financially not qualified prospect. They often have the desire and are willing to work hard but just don’t have the $400K equity to get started.

  4. Professionals looking to make a better return on their hard earned savings and often an opportunity that will make a good six figure income and even allow them to retire early if they choose.

So how does a qualified prospect make a decision?  They typically ask and answer the following questions:

Do I want to own my own business?  – most people do not.

Do I want to work more now (I already have no time) so I can have all the time I want in the future – most people are not that ambitious.

If self storage works like the experts say, is self storage the business I want to be in to make my dreams come true or do I have a better opportunity?  Since Self Storage is one of the very best real estate investments few people have a better option where they can keep their career.

If you got to the last question and the answer was yes the rest is easy.  Do research every week until you decide the pros & cons of doing it on your own or with Storage Authority.

AD.Storage Authority 1-3 #3

If you want to learn more about franchising you need to read the up coming September issue of the Minico Messenger the article  Why Franchising for Self Storage. It provides both a history and background on franchising, And also explains why the time has come self storage franchising.  But often it comes down to understanding the value of  being a premier facility vs being an average self storage and what it takes to be a premier facility.  The value is in the millions and it takes 10 year of energy in the trenches to become and expert on your own.  You will find this is true in many businesses. If you want to be way above the competition and do not have 10 years of experience from the trenches there are few if any ways to get all the expert guidance and assistance you need.  Here are just a few of the things that Storage Authority provides that you will have a hard tine finding elsewhere

Where else is someone going to work as hard as you are to make sure your a success?  No Where!

Where Else

  • Will you have an expert on your side 24/7?

  • Get the land expertise you need for pennies on the dollar?

  • Get the engineering expertise you need for pennies on the dollar?

  • Get the zoning expertise you need for pennies on the dollar?

  • Get development expertise you need for pennies on the dollar?

  • Get the construction  expertise you need for pennies on the dollar?

  • Get the operational expertise you need for pennies on the dollar?

  • Get the marketing expertise you need for pennies on the dollar?

  • Get the sales expertise you need for pennies on the dollar?

  • Get the rental expertise you need for pennies on the dollar?

  • Get the customer expertise you need for pennies on the dollar?

  • Will you have a partner to call every time you have a question?

  • Will you have someone with 30 year experience of real estate, self storage and design experience to review your site plans?

  • Will you have someone to tell you your opening rates are two low?

  • Will you have someone outline one on one, in a development manual, in a check list the 5 stages of development and help you at each stage?

  • Is some one going to share with you the many how to tips and training that can leads to hundreds of thousands in extra profits?

  • Will your state of the art management software come set up with over 25 forms and letter, emails, late fees and more?

  • Will you be provided with the state of the art website that allows you to stand out and rent on line?

  • Has all the research been done for you to insure you have the best vendors in the industry?

  • Will you get the expertise and banking application assistance to impress your Bank?

No Where!

If you want to learn more lets talk.  Marc 860-830-6764

 

July 2018–Roof Tops are on Getting Ready to Rent

July 2018 Newsletter

Storage Authority Construction News

The roofs are on at Storage Authority Walters Rd in Houston Texas. Time to start taking reservations!  The typical feasibility study will have you renting 10 – 15 units in your first month.  With Storage Authority’s pre-opening marketing plan we aim for 30 – 60 units rented in the first month.

Storage Authority Walters Road is a single story facility, but as you can see here it is important to beef up the office area to help provide that “just feels right” feeling.

The concrete pads have been constructed for Storage Authority Mulberry FL.  This project will also provide vehicle parking including RV & Boats.

We are excited that our Storage Authority Franchise owners from the Tampa Fl area had their land offer accepted and are proceeding with their due diligence and site plan design.  We helped them with preliminary concept plans on several properties before they decided on the above parcel.

Land clearing has been completed on the latest Storage Authority facility to start construction in Central NJ.  We estimate a 6 month construction period.


Construction is exciting but preparing for construction and post-construction is what is going to make Storage Authority facilities premier facilities.  Our customers will be able to open the gate simple by driving up to the gate with the Storage Genie.  And it does a bunch of other great things like email or call the facility, or make a Payment from your cell phone.  You can even get a notice when you ( or other you gave your codes to)  have accessed the facility.  We put the renters in control and they love it!  Don’t think you can add it after construction because it does not work that way.

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

We are excited to announce that Storage Authority has partnered with the best self-storage management software available to our industry.  With 10 years of first-hand experience working with Sitelink in the trenches, they are first in class with their innovative features and user-friendly platform.  Their Cloud base platform is second to none when it comes to running an efficient smart connected facility that enhances the customer’s experience and reduces the facilities overall cost.

Here are just a few reasons why we went with Sitelink:

1.) Training: With Sitelinks certified professional training course with ongoing, training videos and webinars anybody new to the industry can be brought up to speed in a short amount of time. Even seasoned managers can polish their self-storage skill set.

2.) Support: The amount of real-time support Sitelink provides is unbelievable. During operation hours you or your staff can call in for real-time support to walk through any procedure or resolve any issue if need be they have a built-in tool where they can remotely log in instantly to assist you.

3.) SiteLink eSign is the legally binding signature capture component of eFile Management, allowing owners to execute, track and store leases, insurance forms, and other documents electronically.  Sign in-store, on your website or send leases by email and track progress throughout the signing process, including quick lease audits to ensure proper completion.

4.) Customer Relationship Management (CRM), SiteLink delivers more leads and automatically saves reservations from all of your lead sources such as websites, listing services, and call centers. Automatic follow-up reminders for managers and notices sent to prospective customers turn more leads into rentals.

5.) Revenue Management: SiteLink Price Optimizer provides the industry’s best toolbox for managing price lists and tenant rates. You can set parameters to “push” unit rates based on occupancy percentages. Push rates are calculated daily, similar to the airline industry’s demand-based pricing.

6.) TOTAL Accounting & Reporting: SiteLink manages your financials and integrates with the accounting software of your choice. Track financials with confidence using cash or accrual basis methods. Reports are always just one click away. Access real-time reports on any computer or mobile device such as smartphones and tablets.

Overall, as Storage Authority grows and scales we are aligning our selves with the best in business and Sitelink Management software checks that box with their cutting-edge technology.

Industry News & Tips You Can Use Today

5 Tips You Can Use Now

1. Free Demand Studies: Now you can get the information on your 3-mile competition, including existing building square footage, rates, population, unit pricing, in minutes for more than a dozen locations FREE.  Check out RADIUS here  radius.unionrealtime and get your free credits now!

If you need help understanding  the data take a screenshot and email it to Garrett@StorageAuthority.com

2. Get your own Storage Genie: Email sklein@opentechalliance.com and she will tell you how.  Let her know Marc from Storage Authority sent you.

3. Reduce your construction time by: including a construction schedule in your contract.  And by requiring a detailed written update every week of the next two weeks schedule and completion date.  The office is the last thing completed.  Make sure the contract requires the office foundation and building to be done first.

4. Have some fun: Required your contractor to upload photos weekly to a private photo sharing site for your viewing.  You can share with others like your engineer, Architect, and your family.  Pictures tell a 1000 words so they often help between visits in many ways

5. Don’t end up with a sub-par website. Owners spend millions building their facility and are losing money every week because they skimped on the website. Make sure your web provider has built a few hundred self-storage websites and understand SEO. It is time to take online rentals!  We recommend you call Christina at G5 for your website design at 541-306-3383.

Storage Authority experts are ready to help you every single step of the way, from finding land 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.

ARE YOU READY?

 

Recent Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

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

The 3 Big Myths About Rental Rates

Recent Storage Authority News Letters

June 2018 Newsletter Self Storage Development–Aerial Drone Video

May Newsletter 2018–New Self Storage Construction Photos

April 2018 –Advantages of Buying a Self Storage Franchise

 

Storage Authority Video of the Month

Storage Authority Franchising Development Series
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Storage Authority
677 N Washington Blvd.
Sarasota FL 34236

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

June 2018 Newsletter Self Storage Development–Aerial Drone Video

 

Drone Video of Storage Authority Mullberry FL

Storage Authority News

Did you enjoy the drone video? It used to be you had to hire a plane to take aerial photos of your self-storage.  But now Drones are so cheap you can take your own sky pictures and videos any time you want.  That was a  sky video of the Storage Authority Mulberry FL site.
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Everyone’s first question is what are the next steps to becoming a franchise owner so we decided to include them here today.

                     Storage Authority Franchise Award Steps
“Franchising means being in business for yourself but not by yourself”

 

Step 1 – Week 1 Introduction

  1. Review www.StorageAuthorityFranchise.com including blog, and introduction Storage Authority brochures.
  2. Initial call with Garrett to understand Storage Authority Franchise requirements and confirm ready to learn more. Garrett to forward MG’s Self Storage Development book.
  3. Discuss your background, goals why you are considering Storage Authority & what are the key factors why you would choose Storage Authority.
  4. Discuss Storage Authority background, what makes us different and the Storage Authority process.
  5. If it looks like we are a good fit set up Week 2 Call and Apply at

    www.StrorageAuthorityFranchise.com

    Step 2 – Week 2 Franchise Disclosure Document Review

Pre-call Task:

  1. A complete review of our website & blog
  2. Review Storage Authority competition review sheet.
  3. Read FDD & Submit FDD Exhibits G & H to Garrett prior to week 2 call

    Call outline:

    • Introduction to our president Marc Goodin
    • Review FDD highlights and your FDD questions
    • Review in more detail what Storage Authority provides you.

Review next steps & set up week 3 call

 

Step 3- Week 3 Storage Authority Secret Sauce – Sales & Marketing & Operations

Pre-call Task:

  1. Read Storage Authority Sales & Marketing loan supplement
  2. Read operations, sales & marketing info/links provided.
  3. Visit 3- 5 local self-storage facilities & rate with SA review sheet.

Call outline

  • Storage Authority sales and marketing advantages.
  • Confirm you are on board with a high-end sales & marketing platform.

    Step 4 – Week 4 Land, Financing, Design & Construction

    Pre-call Task:

  1. Determine how long it would take you to have $400K min. cash to invest in self-storage.
  2. Finish our president’s Self-storage development book.
  3. Read additional Development info/links provided.
  4. Prepare any questions on financing, finding land and the development process.

    Call outline

    • Financing, finding land and the development process.
    • Determine if you are ready to become a Storage Authority Franchisee or need more info.

 

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
Vendors have to be carefully chosen to ensure they are not on an outdated platform, have the resources to be part of the ever-changing future and they must start to think like renters and not owners and vendors. And understand the future is still your manager and the internet. High Tech & High Touch

“Alexa what is the temperature in my self storage unit?”
“Alexa put the video of the inside of my unit on the TV screen”
“Alexa when is my self storage rent due?  …….Please pay now.”

New generation sites must be smart connected to reduce cost, enhance the customer’s experience and make maximum profits. Smart connected means:

  • Employee productivity—Lets employee  focus on value-driven action
  • Increase facility Revenue
  • Cost reduction for the facility
  • Enhance customer experience.

When choosing vendors for your facility you have to ask yourself 3 main questions.

1) Are your vendors set up for now and the future.  Everything needs to be fully cloud based to make easy to use today and provide seamless upgrades in the future.  Do you want to get a call that your facility gate does not work and have to imeediatly go to the facility just to hit the reset button? Or would you rather correct the problem on your cell phone.

2) Are your vendors part of a network of products that work together. If your management program does not fully integrate with your website it will be an extra one or two clicks to rent a unit and sign, you are not thinking like a renter. Does the management software download to quickbooks online and provide the daily income item by item?  If you can not tell how many locks you sold at the end of every month time for a change.

3) Are vendors making your life and your renters life simpler? Does your gate access system let customers access the gate without punching in a code or pulling out their cell phone?  Does your management program allow reports and alerts of your choosing to be automatically emailed to you? Does your management software permit for you renters to sign on a tablet and have the lease emailed to them? If not you are turning in to an outdated model that will not be able to charge premium rates.

I know first hand all vendors are going to say we meet all of these requirements when they don’t.  So it is important you know the specific questions to ask them so you can determine for yourself.  Keep thinking simple for you, your staff and your customers.

SiteLink and Opentech just did a webinar “The Internet of Everything.  You should check it out!

How will the Internet of Everything (IoE) impact the Self-Storage industry

Industry News & Tips You Can Use Today

Tips
 1. Decrease Costs:  Some expenses, like good marketing and employee training, help you make money but there are many others that do not.  Did you know your electrical supplier is just like your cable tv provider – once they have you hooked they up your rates increase every year, often surpassing what they charge new clients.  I just got a notice my rates were going up to 13 cents a KW.  One call and I got it down to 9 cents.  But more important are you designing a highly efficient heating & cooling system?  I suggest you look into high efficient heat pumps!

2. Increase rents  0.99 cents: Let’s say you have or will have 500 or more units rented. if they were each just $0.99 higher you would make an extra $6,000 a year in your pocket.

3. Increase disc lock prices to 17.99 and put on sale at $12.99 and require everyone to lock units at the time of rental.

4. Increase rents for premium units $3: (Units close to the office, extra tall, wider doors etc)

5. Make it easy for your customers to RENT without stepping into the office with phone rentals, kiosk rentals, and website rentals!

Storage Authority experts are ready to help you every single step of the way, from finding land 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.

ARE YOU READY?

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

“Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.” — Earl Nightingale

 

Recent Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

Thirty-four items you don’t want to forget during the design process!

Three Must Do’s for Over the Top Success while Pre-Marketing your New Facility.

Recent Storage Authority News Letters

 May Newsletter 2018–New Self Storage Construction Photos 

April 2018 –Advantages of Buying a Self Storage Franchise

March 2018 Self-Storage News & tips you can use.

 

          Storage Authority Video of the Month

                                           Self Storage Outward Marketing

Share
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Please share!      We Love Referrals.

Storage Authority
677 N Washington Blvd.

Sarasota FL 34236

May Newsletter 2018–New Self Storage Construction Photos

Storage Authority News

It has been a very busy spring construction season with multiple foundations being poured as we speak.  You will want to like our facebook page for many upcoming construction photos and construction tips.  https://www.facebook.com/storageauthority


Here is an early morning foundation pour for Scott’s Storage Authority Mullbury FL facility. if you look closely you will see the spacing across the foundations.  This permits for beams below the foundation floor which were required due to the soil types.

Here you can see 4 pads being under construction.  The project has approx. 70,000 net rentable square feet.  The area to the right is for RV & Boat parking.


I always like to reward myself with a good glass of wine when the first foundation goes in on a new project.  Here I am with my wife GP.

Here is a Storage Authority Houston foundation prep for pouring next week.  You want the office foundation done first and the office building built first. Otherwise, your opening will be delayed a month or even two.  This happens less than half the time because the plumbing (see pipes in the picture) has not been done or because the General Contractor and building manufacture were not told this was a stipulation of the contract.

Foundations Tips You Can Use Today:

  • Always make sure your foundation plans show the saw cuts and that the saw cuts do not run within 1′ of a wall or down the hallway.
  • Make sure the saw cuts are made with 24 hours of pouring the concrete to reduce cracks.
  • Make sure the boards that create the lip at the exterior unit doors are removed the same day and any void created by trapped air is repaired while the concrete is wet.
  • Make sure the concrete is sealed with 24 hours of being poured to reduce cracks.  Sealing also reduces concrete dust in units.
  • Make sure all these items are spelled out in your construction specifications and contracts.
  • I always enjoy a good glass of wine on my first foundation of a new project.  A small reward for hard work!
  • Your coming soon sign should be up once the first piece of steel goes up.
  • If you have not started your marketing once your first foundation goes in you are behind schedule.
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 new version of Radius is here! Your key to finding better self-storage sites faster with confidence. The industry’s most comprehensive location intelligence platform.Every Region. Every Facility.

Just a short year ago it used to take two days of hard work to do a mini demand study to determine if you should make an offer or do a further review.  Now you can do the same mini demand review in less than an hour with Radius.

In one simple screen for a chosen radius you get:

  • The locations of the existing self-storage and a ton of info on each one.
  • Demographics including population, # households, income & more.
  • The total square footage of the existing self-storage broken down to gross and net square feet and climate control and no climate control.
  • The existing sf of self-storage per person.
  • Self-storage pipeline info
  • Rental rates for existing units
  • And this is just the beginning. Zoning, drive time analysis and much more will cut your decision time drastically.  You need to check out their website: https://www.unionrealtime.com/radius.html 

I highly suggest you take up James de Gorter’s,(Co-founder of Union Real-time) offer to provide you a demo.

Dive Into the New Era of Self-Storage AnalyticsLog onto the new Radius platform with your email address and this temporary password: 15o>Qp?z and get started with the most comprehensive data and analytics platform the industry has ever seen. As always, feel free to reach out! We want to ensure that you get the maximum value out of our new platform.

                                                     read more

Radius tips you can use today:

  • 7-8 sf/per person of self-storage can be a good starting point of self-storage at equilibrium if you do not have local self-storage averages.
  • You can simply move the Radius anywhere on the screen to compare different densities of self-storage in a given radius.  And you can visit areas from low density to high density to get an idea of what density the occupancy falls off.
  • Union real-time Radius allows you review a specific address but since you can move the radius on the screen and at the same time see the sq ft of self-storage per person it is a great tool to help you decide where are the best locations to look for self-storage.
SBA Loans

Finding land and self-storage loans are always one of the first questions our potential franchisees ask us.  Our national land brokers Morrow Hill, understand the land, franchising, self-storage and Storage Authority and work hard in assisting us and our franchisees to find land.

There are several great banks that have experience in SBA and self-storage lending.  But we are excited to take it to the next level where our preferred Storage Authority bankers are not only SBA self-storage lending experts but are also experienced Franchise lenders who understand the value of franchising and the value Storage Authority and are accordingly ready to provide you the service and great terms you deserve.   Next month we will be ready to provide all the details!

Industry News & Tips You Can Use Today

Tips

 1. Finding Land:  One of the biggest mistakes is not knowing or considering the self-storages in the pipeline.  In many cases there are none but other cases, often in cities and areas of very high 3 mile populations they can turn a great site into a pour site.  I just looked at a brand new facility for sale in Ft Lauderdale.  The existing 17 facilities in the 3-mile radius provided  7.4sf of self-storage per person. This was reasonable given many factors but the fact there were 10 new facilities in the pipeline made the asking price multiple millions high.

2.  Asking price: I just got an email from a self-storage in the Boston Area with the heading $5.4 Million price reduction.  When I talk to the brokers many realize many prices for existing facilities are outrages and their answer is “we are just testing the waters.” It is buyer beware world out there.  Paying 4 – 5 cap rates on next years earnings is risky business.

3. Construction Contract:  All the plans and specs will still miss some items so every contract should have an addendum that outlines often overlooked items like the foundation tips noted previously.  My favorite often missed item is the cleaning of the interior of the building.  Sounds funny but it is a $10,000 item. Start your list today.

4. Website: Your website should be done by a self-storage expert otherwise you will lose rentals month after month.  You should expect to pay around $400 a month to keep it an updated top of the line website.  The website is so important we provide the Website for our Franchisees.  Our new website is going into production and we look forward to highlighting it shortly.

5. Marketing: You need to have your marketing plan before you apply for your bank loan.  If you want some ideas on how to be the Ritz vs Motel 6 email garrett@storageauthority for The Storage Authority Ritz marketing highlights.

Storage Authority experts are ready to help you every single step of the way, from finding land 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.

Can you tell which foundation photo above matched this Storage Authority layout?

ARE YOU READY?

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

“Whether you think you can or whether you think you can’t, you’re right!” 
Henry Ford

Recent Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room

More big box retailers closing – Think Self Storage Conversions!

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

Recent Storage Authority News Letters

April 2018 –Advantages of Buying a Self Storage Franchise

March 2018 Self-Storage News & tips you can use.

February 2018 Self Storage State of the Union-Tips you can use Today!

Storage Authority Video of the Month

How to Find Land.
Share
Tweet
Forward
Please share!      We Love Referrals.

Storage Authority
677 N Washington Blvd.
Sarasota FL 34236

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

Chapter 9 Thirty-four items you don’t want to forget during the design process for a better and more profitable facility.

Screen Shot 2018-04-30 at 4.37.55 PM

Thirty-four items you don’t want to forget during the design process for a better and more profitable facility.

  1. Early in the design process determine the parking requirements of the town for self-storage. They can vary from a half dozen to 30 for the same size facility. In some cases, where very high parking is required, parking in half of the 24 isles may be accepted as parking.  You want at least a half dozen customer parking spaces next to the office outside of the fenced in security area.

 

  1. Provide a secure drop box for after hour payments. It’s been our number two request from tenants. If you remember prior to construction you can put it in the office wall. Otherwise, you can add a free-standing drop box.

 

  1. For protection, provide steel bollards at all building corners, entrance gates, and entrance/exit key pads. I recommend 6”- 8” steel bollards filled with concrete. Over the years this will save big bucks and a lot of aggravation. Make sure these are in your original bid package because the change order price of $900 each will kill you budget.

 

  1. Determine if you should put the outside lights on two circuits with timers so you can turn half the lights off after hours or at a certain time. You may also want the front entrance driveway, sign and parking lot lights on a third separate circuit, so you can leave them on all night. LED lights will cost a little more to buy but they will more than pay you back with reduced electric bills.

 

  1. Make sure all utilities are designed to include future phases and are clearly included in your bid request. Make sure your electrical/camera underground conduit system for phase two is brought to the limits of phase one so you do not have to tear up phase one. Make sure the pull cords are in.

 

  1. Have your engineer provide the largest driveway radius permitted at the street intersection for easy site entrance. A 25 to 45-foot radius is recommended. No matter how large you make them some drivers will still drive over the curb.

 

  1. Make sure there is room at the end of the buildings for vehicles to safely turn. Thirty feet of pavement is recommended minimum with 40 feet preferred, and much larger if you need large RV’s or tractor trailers to make the turn.

 

  1. Determine what percentage of climate control units to construct. We have constructed 15 – 20 percent and that has worked well for us in the northeast, but many areas like Florida build significantly more. Check to see what your competition has done. Learn more about climate control/humidity systems. Also, make sure the designer has experience designing self-storage heating & air conditioning & humidity systems. Self-storage systems are designed significantly different from then residential or typical commercial systems.

 

  1. Your office will be a major showcase for your facility and a is a key factor in the success of your facility. It should be located outside the gated area. Visit several other self-storage offices to help determine your office size and layout. We have found that having a large product sale area and large windows helps increase the overall acceptance of our facilities and increase our unit rentals. The offices in our self-storage facilities are about 1,100 square feet, including a single bathroom and a small utility/furnace room.

 

 

A colorful bright large retail office and showroom will increase your rentals.  Remember the majority of the rentals are by the ladies. Believe it or not you are in the retail and fashion business and need to wow your customers.

 

  1. Typically an access gate has a security loop installed in the pavement that can detect a car, so the gate will not close on a car. Make sure it is clear who is responsible to provide and install the safety loop. Will it be installed under the pavement or will the pavement be saw cut and patched? It is a much nicer job if the safety loops are under the pavement and not saw cut into the pavement. The gate should also have a safety mechanism, so the gate cannot accidentally shut on a person that meet present building codes.

 

  1. It’s always a nice touch if the appropriate office doors are keyed alike.

 

  1. If you use propane, consider buying your propane tanks versus renting so when you buy propane you can get the best price on the open market.

 

  1. Put the fencing 30 feet or more off the pavement where snow will be plowed to leave room for snow.

 

  1. A 4-foot person gate in the security fence near the office comes in handy for many reasons.

 

  1. Typically the entrance/exit gate needs a clearance past the end of the gate of at least 1.5 times the gate opening. Be sure to check with your gate manufacturer and design accordingly. If you do not have the room you will need a lift gate.

 

  1. In Connecticut you are required to get a CT Department of Environmental Protection “General Permit for Storm Water Discharge Permit for Construction Activities”, if the development (all phases included) disturbs over 5 acres of land. This permit requires several best management practices be incorporated into the designs, including weekly inspections of the erosion control. Often, there are similar or other special regulations in many states. Make sure you have a complete list of all approvals required when you start your design, so you can plan accordingly.

 

  1. In many states, disturbance of wetlands may require a Federal Army Corps of Permit in addition to your local Wetlands Commission approval. Check with your soil scientist and engineer. An army Corps permit can add significant time and costs to your approval process.

 

  1. Don’t forget to have an electrical outlet installed at your sign for your holiday lights. Also, electrical outlets should be installed in the 1 or 2 units of the facility you will use. An outside water nozzle is recommended. Typically, no electricity or lights is provided in self-storage units. You may want to put electric plug in 2 or three 10 x 10 units, so you can rent to pharmaceutical reps who will need a fridge in their unit.

 

  1. If possible, place the larger units on the side of the building that do not have another building on the opposite side of the drive. This will make it easier for cars to access and be stored in these 10′ x 20′ or larger units. Nine-foot-wide doors are nice touch on 10’ x 20’ units for car storage.

 

  1. Include a bank of 5′ x 5′ x 4′ lockers in your climate control buildings. One is stacked above the other. They typically rent out and provide the highest rent per square foot. It is a good design practice to have several different sizes typically from 5’ x 5’ to 10 ‘x 30’.

 

 

  1. Slat walls in the office are great to hang locks and other products. Built in shelving for certain products is a good idea as well. Make sure they are included in your construction specifications. Change orders are expensive.

 

  1. Review your landscaping plans. In addition to the various trees and bushes it is very beneficial to have a raised flowerbed or two for your clients to admire.

 

  1. Handicap access should be reviewed early on and included in your design. Self-storage units typically have a lip at the door to keep water out. A ramp design and special doors are required for handicap access. The good news is if the handicap units do not rent you can rent them out as regular units. Your Engineer, architect and building manufacture should able to help you out with the handicap requirements. You may also want to do an online search regarding the new HC regulations.

 

  1. Determine if there is any room for outside car storage or RV storage. Even a few spaces can help market the entire facility. Outside parking of vehicles should be clearly noted on the site plans and applications to the town. Typically, you will make more money with self-storage units than outside parking. Outside parking is provided if you have excess land.

 

  1. Some states require two bathrooms, male and female. You may be able to request a waiver from the state for just one bathroom. I got waivers for just one bathroom in my facilities and there are no problems. Access to the bathroom should not require a user to go behind the office rental counter and should be clearly marked.
  2. Most metal building manufacturers provide insulation in the non-climate control unit ceilings. This is a must because it helps prevent condensation and possible dripping onto the customer’s stuff. Double check to insure your building includes insulation in the non-climate control unit ceilings.

 

  1. Avoid sheetrock construction in storage units. Sheetrock attracts mold and is easily damaged.

 

  1. If you have a sidewalk directly abutting your office make sure the sidewalk elevation is coordinated with the building design. If the office is a metal building the sidewalk may need to be an inch lower than the office concrete floor to accommodate the metal lip that hangs over the concrete floor.  Even where the building is not metal it is a good idea for the sidewalk to be lower than the office floor by an inch.  Of course, the sidewalk should match the floor at the door for handicap access.

 

  1. Many building codes have recently changed or are about to change based upon what state you live in. Insulation requirements, fire walls, separation distances, climate control building design, multi-story design requirements, handicap requirements are just some of them. Make sure you enlist the help of a self-storage building code expert early on, so you are not surprised.

 

  1. Now is the time to determine your facility management software and gate control companies, website developer etc. Once construction starts you will be extremely busy.  Making sure they are compatible with each other is critical and a must.

 

  1. Provide a driveway entrance light at the street. It’s been our number one request from tenants.

 

  1. Make sure your camera/DVD system has enough capacity/ports for all phases. I recommend two large camera screens in your office. Safety/security is the second concern of most renters.  Meet with your security expert early on and show the camera locations on your site plan.

 

  1. There are significant differences between video camera systems. Purchase high definition systems. And confirm you can view the cameras from your home computer and cell phone. There should be 2 cameras in the office on the customer and on the manager.

 

  1. Several things can differ between building manufacturers. When you order a building, you should be aware of your door sizes and eve heights as both can have an impact on your facility.  I recommend minimum doors widths of 8’-8” feet wide and a minimum building eve height of 8’-4” and you should consider 9’ wide doors and 9’-4” eve heights.

April 2018 –Advantages of Buying a Self Storage Franchise

 

April 2018 Newsletter

We had a very productive conference at the National Self Storage Associate conference.  We got to meet with future franchisee’s as well as some of our great vendors that will be providing the most cutting edge technology to our Storage Authority franchise owners.  By partnering with our industry leaders we receive the best rates due to our scalability and we are able to pass along those savings, which provides a tremendous  value to our franchisees.   This would be next to impossible for the single owner to create the same experience for their customer with the most up to date technology at the rates we can pass along to our franchise owners. .

Franchising is the fastest-growing method of conducting business in the world.  Why?  Because it works!

The self-storage industry has recently surpassed the $38 billion annual gross mark, that’s three(3) times the movie industry box office gross.
LIGHTS —  CAMERA — STORAGE AUTHORITY

Franchising works by combining the drive and energy of the entrepreneur with the experience and expertise of the franchisor.
In a franchise business, the franchisor provides a developed way of doing business, ongoing guidance, systems and assistance in return for periodic royalties.

 

Advantages of buying a franchise

  • Franchises offer the independence of small business ownership supported by the benefits of a big business network.
  • You don’t necessarily need business experience to run a franchise. Franchisors usually provide the training you need to operate their business model.
  • Franchises have a higher rate of success than start-up businesses.
  • You may find it easier to secure finance for a franchise. It may cost less to buy a franchise than start your own business of the same type.
  • Franchises  have an established reputation and image, proven management and work practices, access to national advertising and ongoing support.

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

Storage Authority is excited to welcome aboard..Insomniac Live  “The Self Storage Call Center” by Open Tech.  Through better technology and processes, OpenTech is able to serve its call center client base more efficiently, where all calls are handled promptly and professionally by trained Storage Counselors—not ordinary call center employees.

The Strength behind Storage Authority  partnering with a first-class call center like Insomniac Live is there is never a call that goes unanswered.  Reservations, Payments, and facility questions are answered before hours, after hours, and during hours if your manager is assisting a customer in person.

A recent self-storage case study claims that 40% of calls into most storage facilities are not answered (yikes). When you spend a considerable amount of money and energy trying to get phones to ring, the last thing you can afford is for calls to slip through the cracks. After all, every prospective customer is vital to your business. Backed by a 100% satisfaction guarantee, our call center services ensure that every time a customer calls your facility, the call is answered promptly by a trained Storage Counselor. Our team is bilingual as well, so you don’t miss out on sales from Spanish speaking customers.

Calls are…

Answered promptly, usually on the first ring, so you don’t miss any sales opportunities

Answered by industry specialists. Training, industry experience and attitude make all the difference

Answered consistently, so your brand is properly promoted

Answered by a bilingual staff, so you don’t miss out on sales or terrific service from Spanish speaking customers

Recorded, so you can listen to each call immediately and rate it for quality

Guaranteed. OpenTech offers a 100% satisfaction guarantee

Open Techs Metrics for evaluation are fantastic!

They measure call center quality with objective metrics that encompass manager satisfaction ratings, percentage of calls answered within Service Level, reservation percentage, rental conversions, database accuracy, wait times (to the second) and more. If any metric is down, they work on improving it immediately.

OpenTech Alliance, Inc.

Industry News 

The United States is home to 90 percent of the world’s self-storage facilities, or roughly 54,000 of the 60,000 facilities in the world. Self-storage facilities are cheap to build, easy to maintain, and barely require any on-site staff. The self-storage industry withstood — and even thrived — during the recession, according to Bloomberg, and is looking to expand into blighted malls and abandoned department stores. Even though we’re buying less stuff in stores, we’re still buying more. That stuff has to go somewhere.

Self Storage Articles

Self-storage: How warehouses for personal junk became a $38 billion industry

Despite recessions and demographic shifts, few building types have boomed like self-storage lockers. In fact, they’ve proven to be one of the surest bets in real estate over the last half century, while mallsstarter homes, and even luxury commercial space in big cities, once safe and steady investments, have struggled. Behind the combination locks and roll-up doors lies a $38 billion industry.

 

Investor Interest in Self Storage Remains High

Cap rates on self-storage transactions averaged 6.3 percent in the fourth quarter of 2017, down from 6.5 percent the year before, according to RCA.

With Storage Authority on your team, we will help you every single step of the way, from finding land to operations, to driving your revenue year on year.  If you have a question we have the answer, we will help get you developed and lease up faster than if you were to go it alone. Team up with the experts to maximize your profits.

ARE YOU READY?

“The secret of getting ahead is getting started.”

          Mark Twain

Although it may scare you to death to begin your own franchise or business, the mere fact that you’re willing to begin to work toward your goals puts you one step ahead of most others. Plus, you can’t finish something until you start, so starting is definitely the key.
Click here to Get Pre-Qualified to Begin your Journey to Financial Freedom with Storage Authority Franchising!

Recent Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room 

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

Interview with Storage Authority Franchise 0wner, March 2018

Recent Storage Authority Newsletters

March 2018 Self-Storage News & tips you can use.

February 2018 Self Storage State of the Union-Tips you can use Today!

Storage Authority -Jan. 2018 Newsletter– SBA Lending Updates

Storage Authority Recent Videos

Storage Authority How to Find Land

Storage Authority Outward marketing 

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Storage Authority
677 N Washington Blvd.

Sarasota FL 34236

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

 

 

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

Memo:

Date: April 4, 2018

To:  Self-Storage Property Owners

From: Heidi Henderson, Executive Vice President of Engineered Tax Services

Many real estate investors are unware of how the top industry professional utilize the tax code to their benefit. And most think that their tax professional is aware of every aspect of the existing code to advise them of any applicable credits or deductions they are eligible for. In reality, the tax code is complex and expecting your CPA to know every aspect of it, is like expecting your family doctor to be able to perform heart surgery!


“Surrounding yourself with the right people and education on these topics are the keys to your success!

I am a real estate investor myself and through many years in tax and accounting I have learned from the best on how to apply every aspect of the tax code to create the most tax efficient real estate portfolio, leading to continued success.

Recent tax changes under the Tax Cuts & Jobs Act expound on the benefits of real estate investing. Taxpayers can now capture immediate deductions for business related tangible property, your depreciation can be front loaded, and for energy efficient buildings the available credits and deductions were renewed in February of 2018 and assets removed during demolition can be written-off or donated for a charitable contribution on your tax return.

These are just a few of the complex tax code sections which can make the difference between a profitable business, and a losing proposition. Below is an article outlining 11 Frequently Asked Questions about Cost Segregation, which is one of the methods you can apply to your property.

We partner with business owners across the U.S. and have worked on thousands of self-storage properties nationally. Give me a call today for more information and to discuss the some of the tax strategies that might be applicable to your business or property.  I can be reached at (801) 689-0325 or via email at hhenderson@engineeredtaxservices.com

 

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

By: Heidi Henderson, Engineered Tax Services

1.  What is Cost Segregation?

Cost Segregation is the process of identifying personal property vs. real property, and individual building components for tax purposes, rather than treating a building purchase as one large asset. This determination allows a property owner to depreciate their assets over the useful life of each asset instead of assuming that the entire purchase amount applies to one long-term (39-year) asset.

2.  Does my property qualify?

All investment properties, including self-storage properties qualify for cost segregation.  When a cost segregation study is applied, you are telling the IRS that you are simply choosing one acceptable method for depreciation (MACRS*) vs. another approved depreciation method (straight-line). Both are acceptable, however MACRS requires an analysis to identify the value of each individual asset you own, rather than looking at your property as one large asset.

3.  When does it makes sense to do a Cost Segregation study?

Cost Segregation can be applied to a newly purchased building, a newly constructed building, or a building you have owned for around 15 years or less. If the property is not fully depreciated (39 years is the length of normal depreciation), then there is an opportunity to change the method with cost segregation. Although any property can be depreciated under MACRS, the costs of performing a cost segregation study may outweigh the benefits if the property was acquired for less than approximately $300,000.

4.  What items are reclassified via Cost Segregation?

Under straight-line depreciation a property’s total cost (less an allocation for land), is depreciated evenly over 39 years. Under MACRS the assets are identified and reclassified in 5-year, 15-year, and 39-year class lives depending on the IRS determination of its actual useful life. And whether the assets are used for your business use, or the basic function of the buildings use as a structure. Examples of 39-year property include; windows, walls, doors, roof, HVAC systems, plumbing, and electrical. Examples of 15-year property include exterior improvements such as; fencing, exterior signage, asphalt, curbs, landscaping, and exterior lighting. And examples of 5-year property are; carpet, appliances, specialty lighting, woodwork, unit partitions, individual unit locks and security, and business specific heating and ventilation systems.

5. Does the type of property affect the tax savings?

Some property types will have a higher reallocation percentage than others. Interior, climate controlled self-storage properties will see a higher amount than a shed-row or boat and RV storage type. The allocations are based on actual assets and values or each of the components within the property.

6.  What information is required to do a Cost Segregation study?

Surprisingly, the information required to perform the study is limited. For a recent purchase, the closing statement or HUD is the only requirement. Blueprints are helpful but not necessary. New Construction projects require cost breakdowns and total costs for construction and development, but individual invoices are not required.

7.    How do I choose a Cost Segregation provider?

Choosing a reputable firm is a vital to ensuring that every aspect of the IRS requirements are met, and in the case of an audit the report is upheld without disallowances or associated interest and penalties. The IRS Audit Technique Guidelines dictate that a physical site visit is performed, the analysis is performed by a professional with cost-accounting or engineering expertise, and the method of determining asset value is an approved methodology. Make sure that audit defense is included in your study, and that the final report offers complete detail over every aspect of your property. Choosing a low-cost provide may be tempting, but the ultimate savings, detail and support of a reputable provider will far outweigh any additional costs. And finally, ask for references!

8.   Will I get audited if I do a Cost Segregation study?

Cost Segregation is not a “trigger” for audit. The IRS issued automatic consent for deprecation whether applying a change from straight-line to MACRS at the time of purchase or retroactive for a property you bought 10 years ago. This means that taxpayers are allowed to make this change with the approved forms offered by reputable cost segregation firms. However, in the rare case of an IRS review, rest assured that a detail report with the proper IRS approved methods and audit support will affectively defend your tax filing position.

9.  How much does a Cost Segregation study cost?

The cost is usually based upon the type and use of the building, size, and location of the property. Beware of cost segregation providers who charge a percentage of the tax savings. The tax savings is relative to the entity type, number of owners, the year of acquisition and other factors, so the actual cash benefit can vary. Most providers will offer a quote along with projected tax savings, so you and your CPA have the information necessary to make an educated decision.

10. How much will a Cost Segregation study save me?

The tax savings realized with a cost segregation can vary depending on the type of building, your total acquisition cost, and length of ownership. Self-storage properties vary in type and size and may see reclassification percentages from 15% to as high as 40%. Request a detailed benefit analysis from a qualified and experienced firm who has a history with self-storage properties.

11. What does the Tax Cuts & Jobs Act (TCJA) passed in December of 2017 mean for my tax return?

The Trump administration passed the TCJA which is the largest tax reform bill passed in over 30 years. There are significant changes that offer tax cuts for real estate investors. The largest change being the adoption of 100% bonus depreciation for tangible personal property acquired after September 27, 2017. Tangible personal property is defined as assets with a useful life of 5, 7 or 15 years. Therefore, when cost segregation is performed to identify the personal property (5, 7 15-year property) apart from real property (39-year assets), it allows the property owner to capture bonus depreciation on those reclassified property and immediately expense the entire value in the year purchased!

*MACRS: Modified Accelerated Class Recovery System

 

https://engineeredtaxservices.com/
                ENGINEERED TAX SERVICES

Interview with Storage Authority Franchise 0wner, March 2018

StorageAuthority_Horz_logo

 

Marc Goodin, President of Storage Authority LLC, 

Ed, you must be excited to have started construction on your self-storage facility?

Ed: Absolutely. We have put substantial time and research into this project and the team is excited to open Storage Authority Houston-Walters Rd.

Marc: First I want to congratulate you and your wife Jenny.  It was not that long ago we met as strangers in a Houston hotel lobby and you shared your goals with GP & I.  Now we are friends and you are well on your way to making your self-storage dreams come true.

Can you provide us a short background on yourself?

Ed: I do remember that meeting with you and GP and it has been a pleasure working with you all on this project. I have been in the transportation industry working in an executive role for many years and I have also been involved in a few technology startups, but I always have had a passion for real estate.

Marc:  I know you are all ready to starting your marketing for your grand Opening.  What is your projected construction time?

Ed: Approximately 6 months

Marc: How helpful was the Storage Authority preferred Houston Area real estate broker Richard Anderson?

Ed: Richard was both a resource and an advisor through the entire process. He has an extensive commercial real estate and development background, so his experience was invaluable.

Marc: How many acres did you buy? And How many square feet of self-storage did you get approved?

Ed: We bought four acres of land and will be building a 60,000 sq ft facility in two phases.

Marc: You and I did some conceptual early on and then once your offer was accepted we worked together with your architect & engineer to come up with the final layout for both the buildings and the individual units.  It’s a tradition civil engineers (like myself) get a little tough on Architects but other that did you feel the Storage authority process helped you understand the options and choose the right layout for you?

Ed: Yes indeed. You were involved in all reviews of the design process and we made many updates to the plans that gave us a much better final layout that I am confident is positioning us for a strong opening.

Marc: You actually had a very smooth design and approval process but what surprised you the most about the design or approval process?

Ed: Although the internal side of the design/approval was manageable, like any real estate deal I believe staying creative and alert to the details of the transaction is critical. We encountered several hurdles finalizing the deal that brought us to the close.

Marc: What advice would you offer a new franchise owner starting the design process?

Ed: Tap into Storage Authority’s experience and knowledge, while being sure to be mindful of local storage development trends. Bounce ideas off of Marc and collaborate to develop the best solution.

Marc: Obviously getting a loan is one of the very important steps of self-storage development.  How does it feel to have your first multimillion-dollar loan?

Ed: Exciting and challenging. I believe the due diligence that we performed, feasibility studies and local research were all keys to forming a solid working partnership with my lender.

Marc: Many people don’t realize there is a lot of work between the site plan design and having the final construction bid & permits the bank requires.  Sometimes inexperienced developers wait until after final site plan approval to start, the building design by the Architect and getting complete bids.  You had your Architect and Contractor on board during the site design process.  Do you agree this was critical for your project?

Ed: It was essential. I believe the site design process is essential to understanding the full scope of a deal’s feasibility. 

Marc:  What did you find the most challenging so far and why.

Ed: Keeping a detailed checklist, timeline and prioritizing all of the items was a challenge as we neared the final stages of the project. Large companies have teams that manage this process, and, in our case, it was me and the Storage Authority team.

Marc: Did Storage Authority meet your expectations? And what can Storage Authority do better to assist the next Storage Authority Owner?

Ed: Storage Authority exceeded my expectations. As for what can be improved, you all are already doing it. From enhancing your web platform to providing new operating guidelines your team is innovating to help me the other Owners be successful. 

Marc:  Thanks for share your experience and thoughts. One last question for now.  Are you excited to start your self-storage marketing and renting up your facility?

Ed: Marc, we are ready to get this one leased up, so we can get back to work with you and the team on our next project.

New Sign SA


Houston Rendering

 

The Storage Authority Marketing & Sales Advantage for Higher Profits!

Why don’t most self storage implement a marketing plans?  Simple it takes a lot of self storage marketing experience, time and money just to develop a marketing and even harder to get your staff to implement.  This is great news for Storage Authority Franchise owners because not only do we know what works, you will have your  sales and marketing plan ready day one but even more important is we have the secret sauce of how to implement a successful marketing plan.

The Storage Authority Marketing & Sales Advantage for Higher Profits!

 We Bring the Ritz Carlton Experience to the Self-Storage Industry!

Simply put Storage Authority Platforms & Systems makes for happy customers and allows Storage Authority Franchise owners to charge premium rates for higher profits.  Storage Authority Franchises are the market price leaders, often renting up much faster at rental rates higher than their competition.

Overview

Sales and Marketing is 50% the environment and 50% people driven. Storage Authority Franchise owners start with the next generation facilities designs and the platforms, systems, tools, training, manuals and a detailed facility-specific marketing plan.  The Storage Authority Manager driven system is backed up by both the franchise owner and Storage Authority experts available 24/7. Storage Authority has replaced the losing one-month free marketing strategy (which costs a facility over $50,000/yr. in profits) with “it just feels right” feeling, sales and marketing.

The Storage Authority over the top sales, marketing and customer service philosophy is shared in detail with every potential franchise to confirm they believe in our marketing strategies and plans and are ready to embrace them before they are approved.

Manager Training & Marketing:

 Managers are hired for their friendly personality, and sales and marketing abilities and are taught the Storage Authority sales and marketing.  Some examples items managers learn starting day one:

  • The Storage Authority standards and systems must be followed. Storage Authority is available to help and will do regular inspections and checks to help each manager and owner succeed.
  • Individual facility Unique Selling Features.
  • What makes us different.
  • With every feature a benefit must be provided and often an action. Never “we have 10 sizes” but rather “we have over 10 sizes so you only pay for the space you need.  Let’s go take a look at a couple of units and find the right size for you.”
  • We are not in the self-storage business but rather in the business of being remarkable, wowing our customers and providing over the top customer service. Storage Authority managers are trained how to be exceptional without giving discounts.
  • Customers are looking to solve a specific need or problem. Storage Authority managers learn how to determine their needs, so we can rent more units.
  • Renting units at a premium price is about building trust.
  • We are the experts: We quickly assess the unit size range a customer needs and show them a unit.
  • People enjoy doing business with people they like and trust. Storage Authority takes every opportunity to provide the “it just feels right” feeling for more premium rentals.
  • Self-storage typically has a three-mile radius customer base. Storage Authority uses state of the art Geo Centric Target Marketing for 3 Mile Domination. (And maximum results for the least amount of time & money).

Storage Authority managers have detailed scripts they must learn and adhere to including the following scripts:

  • Walk in Script: Introduction: shake hands – name – show a unit – confirm a unit -ask for sale (one extra rental per week = $93,600 in profits a year)
  • Overcoming concerns & asking for the rental again script
  • Phone rental script.
  • Completing the rental agreement script.
  • May I have your number (to follow up) script.
  • Follow up script
  • Autopay script – for an easy extra $30,000 a year profits and more time.
  • Insurance script
  • Disc Lock script for a safer facility and more profits
  • Box & product script
  • Thank you, script
  • Rate Script ($15/month average higher rent for 500 units = $90,000 in profits a year.)
  • Before & after hours kiosk & website have their own scripts as well (one extra kiosk/website rental per week = $93,600 in profits a year)

Storage Authority managers have a list of daily, weekly & monthly marketing duties they must adhere to that is completed because they are completed regular they become a habit. Examples:

Daily

  • Walk site twice daily for security and ensure the facility is super clean.
  • Contact at least five customers a day.
  • Call at least one business a day to introduce Storage
  • Follow up daily with past prospects.
  • Walk the site daily – check units & facility super clean.
  • Social network posting.
  • Ask for referrals.
  • Ask for online reviews.
  • Sandwich board & banners out at street side daily.
  • Constantly remind the customer on every contact they are special by providing the little things that count –Example: free soda or bottled water carried out to them at their unit on a hot day.
  • Carry customer products to their car.
  • Visit renters on site.
  • Provide over the top remarkable service.
  • Candy bowl overflowing.
  • Offer free use of our “commercial car wash” vacuum.
  • Surprise their customers.

Weekly

  • Visit local business 2 hours every week (10 businesses a week)
  • Weekly marketing project – often co-marketing projects with local businesses.
  • 101 weekly marketing projects are provided in Storage Authority Founders Marc Goodin best-selling self-storage book CRUSH your Competition
  • Facebook Friday special.

4chrush

Monthly

  • Improve drive-by impressions
  • Visit top 40 business monthly
  • Volunteer 4 hours a month on company time.
  • Each month meet, email, mail a different major customer resources such as real estate agents, funeral homes, town hall, police dept., car dealers, universities, attorneys ect. and teach them how and why to refer to Storage Authority self-storage.
  • Monthly Marketing project.
  • Monthly marketing calendar used for month specific marketing for example:
    • Visit, email, and mail in October for winter vehicle storage
    • Pumpkin giveaway in October
    • College Campus marketing in March
    • High School car was in May
    • Free hot dog & Hamburg lunch cookout 3 times a year
    • Plant flowers in spring
    • Holiday marketing

Quarterly

Special Marketing projects and new marketing projects.

Storage Authority New Generation Facilities

  • Minimal lighting replaced with brilliant LED lighting.
  • Keypad entry replaced with cell phone app entry with geo-fence.
  • Multiple ways to rent & pay including high-tech kiosk at every facility.
  • Management program, security, gates & cameras all are cloud-based to detect problems & resolve immediately, even from off-site.
  • Over the top landscaping provided to provide the “just feels right feeling” as a customer drives in.
  • Free use of exterior “commercial Vehicle vacuum for clients.
  • Large professionally design monument & building signs. Rent 24/7 Here kiosk signs.
  • Customer Coffee bar. Free coffee, bottles of water and soda.
  • A Remarkable oversized retail office that provides that “just feels right” feeling.
  • Remarkable landscaping.
  • Free Wi-Fi for our customers.
  • Additional or specialty services such as wine cellar, power for car storage or pharmaceutical reps, extra secure fire rated rooms, handicap rooms.

STORAGEFINAL2 Storage Authority Mulbury FL

Storage Authority New Generation Service:

  • Our motto: shake hands, call them by name 3 times and ask for the rental 3 times.
  • Great customer service replaced with over the top remarkable service.
  • The best guarantee in the business.
  • Clean, replaced with spotless and beautiful.
  • Staff empowered with solutions to solve problems immediately.
  • Staff provided the resources, so they can do a better job and get more done in a day.
  • Staff regularly secrete shopped to confirm Storage Authority Standards are met.
  • The Staff has uniforms and dress codes for a professional appearance every day.
  • The Site is walked two times a day to keep spotless and lock checks. (renters sometimes lock unit open)
  • Every customer is treated like a Million dollars on every touch.
  • Bringing the Ritz Carlton experience to the self-storage industry.
  • We understand customers are looking to rent and we make it easy for them to do so on the first visit or phone call. And if they do not we will call them back in 1-3 days.

Storage Authority provides:

  • Geo centric market.
  • 24/7 Marketing & Sales hotline to assist franchisees.
  • Systems and platforms to be professional starting day one.
  • Marketing materials and sample marketing letters for different groups.
  • Marketing & Sales start-up training and ongoing training.
  • State of the art website and SEO.
  • Operations & marketing manuals.
  • Storage Authority has multiple vendors on board to provide the best customer service including movers, valet service, tenant insurance providers, merchant providers and more.
  • Storage Authority is constantly reviewing options from the self-storage industry, other industries, and our franchisees to provide more options and systems to gain additional renters at premium pricing and to better serve our customers.
  • National brand marketing.

Storage Authority New Generation Marketing

  • Both High Touch & High-Tech Marketing.
  • Social marketing daily on Facebook and other social networks.
  • PPC marketing-lease up accelerated.
  • Online rentals and reservations.
  • Rent here 24/7 Kiosks.
  • Every renter given the opportunity to make $30 and give $30 to a friend with our referral marketing.
  • $17.95 locks on sale for $12.99 means every customer buys a lock.
  • Autopay with 90% penetration.
  • Paperless contracts/receipts for customers who want email copies
  • Phone rental calls automatically recorded to management software for swift follow up.
  • Text marketing & payment collections directly from management software.
  • Employees empowered to help drive business.
  • Employees are educated on networking for profits.
  • Free Rental truck for new renters.
  • Seasonal marketing: festivals, holidays, winter car storage, campgrounds, college students, etc.
  • Special marketing promotions with local realtors since they represent the highest proportion of self-storage tenants, someone moving.
  • Phones answered by on-site manager 1st (most knowledgeable) then rolled over to call center.
  • Manager is the highest common denominator (vs the lowest for the REITs) for the closing the rental. Starts with the on-site manager answering the phone vs an out of town call center.
  • Storage Authority employees are kept active and engaged with a purpose to help them drive better results.
  • Owners are part of the local community and a large part of the sales and marketing team
  • Home-town self-storage creating a value to the community & local businesses
  • Cross marketing and promoting fellow businesses in three-mile radius
  • Storage Authority Value coupon envelope for every customer who takes site tour. Envelope is filled with local businesses discounts to promote community relationships & compound referrals.
  • Welcome cards and emails with referral bonus on move in’s and thank cards and emails with future discounts when our service is needed again on move out’s.

Storage Authority -Target Marketing Partners:

  • Moving Companies, Truck Rentals (that don’t provide self-storage) & Senior Move Managers –

Co-operative marketing and referral partnerships opportunities

  • Real Estate – Realtors / tittle companies / mortgage/ Home Inspectors / Staging / Designers

Great for cross-marketing

  • Apartments / Condo HOA’s –

For their move-in Packages – Self Storage Rack Cards with a coupon for move in packets, helps         leasing consultants overcome an objection of downsizing to an apartment.

  • Senior Communities – 55+ Mobile Homes / Assisted Living & Independent Living

Do they do move in Packages?  Resource Center?

  • Senior Care Providers – like home health care services. Cluttered homes are a safety hazard and they can recommend storage is they don’t want to part with the items.
  • Child Centers – Daycare /After School/ Recreational like ballet, karate, sports: – Families need storage
  • Restoration Companies/Disaster/Construction Companies – Emergency cleanup and store items able to salvage while the home is being restored.
  • Pharmaceutical Reps—They will target climate control units that are central to their distribution location, that will receive packages for them and store their sample drug inventory, marketing materials, and literature.
  • Insurance Companies –

Auto/Boat/RV – (their clients may need a place to store these) Homeowners – Buying/Selling –      they call their insurance provider – may need temp storage or downsizing.

  • Bankers and Attorneys—They are a perfect source for referrals and often need your self-storage services for time-sensitive record keeping complying with their industry regulations.
  • Schools – Public & Private / Elementary – High – Families & Faculty need storage

What marketing opportunities with local school to participate in.

  • Teachers – Teacher Lockers to store supplies during the summer and keep home clutter free.
  • Colleges – Focus April & August – Student Flyer – Students use storage between summer semesters. Lockers during the school year to keep personal items locked up.
  • Funeral Homes/ Crematoriums

Families need quick storage to clear out the house for sale, time to grieve and then go through stuff and decide to keep or give away.

  • Local Businesses / Restaurants / Dr. Offices / Retail / Thrift Stores – store extra inventory, business records, catering supplies
  • Laundromat, pizza places, etc. Look to see if they have community boards, place to put our display – Get lots of traffic.
  • Home-based businesses – HVAC/Sales/Accountants/etc. – We accept package and deliveries, store inventory, equipment, business records.

Self Storage State of the Union-Tips you can use Today!

February 2018 Newsletter

2018 Self Storage State Of The Union

New Construction is the Story of 2017 & 2018!

Self-storage records were broken in 2017 and looks like even more will be broken in 2018.  52 Million square feet of new self-storage may sound like a lot, but unless you are in one of the top 10 metropolitan cities it will have little effect or even a positive effect on your Storage Authority Facility. 40% of these new facilities were built in just 5  cities.  And take one of those cities, Miami for example, they still need new construction to meet the demand. But the immediate concern is when you build 2 – 200,000 sf facilities on the same side of town it is going to increase the rent up time from 24 months to 48 months. The 1000 new facilities equate to a 2-3% increase in the number of facilities but if you look at the average over the last 10 years it is well under 1% growth leaving unmet demand in many locations throughout the US.

In 2017 many operators exceeded their 12 – 14 month projected rent up timetables. And vacancies remain at or near historic lows with increased rental rates.

Taxes:

Whether you like or hate Trump the good news is the new tax codes provides immediate tax savings for savvy self-storage owners. Now if you do component depreciation the previous 5yr – 7 yr and 15 yr component depreciation items can be depreciated in the first year!

Future Development

So what does this all mean?  For the REITs and large developers who want to add 5 or 10 or more facilities to their portfolio, it means it will not be easy or cheap in 2018.  The self-storage facility inventory for sale continues to be very low and continues to be priced high. The large players like to be in metropolitan areas where they can have multiple large facilities and these are the areas where the bulk of new facilities were built in 2016, 2017 and will be built in 2018 and 2019.

For the individual investor and Storage Authority Franchisee all the new construction and associated abundant news is good news in many respects as it is bringing in new technology and new renters using for the next generation self-storage facility.  As long as you are looking to build a single facility outside of the major metropolitan areas, you have the opportunity and luxury to take your time and typically find a location where there are no new facilities in your 3-mile radius.

The new growth has spurred a lot of self-storage technology growth that will make your facility more renter friendly.  This allows you to rent for more and allows you do more with fewer employees.  As the new self-storage quality and security standards are increasing so are the number of people who want to rent at a new generation facility vs an older facility.

Also, the new technology allows us to do a mini demand review in 15 minutes which only a year ago would take two days. Check out https://www.unionrealtime.com/radius.html it will cut your research time by 90%. Let James know Marc from Storage Authority sent you.

Future Profits

Many self-storage will not Cater to the Modern Consumer!
The self-storage world is in the middle of going cloud-based and customer base. In a few short years, we have a two-tier self-storage world. Motel 6 vs the Hampton INN or a $1.99 coffee at Dunkin donuts vs the $4.99 coffee at Star Bucks.  The world needs both but you have to decide which one you want to be a part of and the profits from.  The High Tech – High Touch model may take a little more work but you will make substantially more profits

Timing

For most new developers it will take longer to develop a new self-storage from the ground up if you are not multi-tasking all the time.  The Vendor capacity has not caught up with the new development demand so 60-day building designs are taking 120 days.  Building delivery times for many manufacturers is 6 months.

Even bidding has gone form 30 days to 90 days.  In some cases, the bidders have so much work they are not doing the proper work to keep the bids low but rather making a quick estimate and adding 20 or even 30% to the price.  Or they bid the plans your provide which often means they are bidding 75% of the job leaving 25% as extras.   In the past, they would have contacted you to make the bids complete.

Tips You Can Use Today:

  1. Even with great demographics and self-storage demand, a new large nearby competitor can double you rent up times.
  2. In 2018 it is going to be much easier to find good locations for single story facilities than multi-story facilities without
  3. If you are looking for land the new internet-based tools that provide the existing self storage rates, locations, square footage, climate control sf vs non climate control square feet, populations, mile radius maps and the existing self storage square footage per person on a single page will turn two days or research into 15 minute review so you can quickly look at more sites. See Radius for more details on internet research.

SA DE Ease logo smaller 1

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.comor Direct 941-928-1354)

Vendor Highlight

Select Merchant Solutions is the approved preferred Credit Card Merchant provider for Storage Authority.  After a lot of research and firsthand experience, the choice was easy for many reasons. First, we have unbelievable pre-negotiated rates for all our franchisees which will save you $$ thousands per year compared to the other options and the rates are guaranteed.

Everyone touts customer service but few ever provide.  The entire team at Select Merchants Solutions is ready to help us 24/7.  And even better than that we have our own customer Storage Authority National agent John Berry that understands the Storage Authority platforms.  I have tried the others and their guaranteed rate disappeared in the first year and our promised agent turned out to be a random person after waiting on the line for several minutes.

It may sound corny but Select Merchant Solutions really is a small group of professionals with the long-term goal to help us succeed. I am sure their service is why they have been voted best of the best year after year. When compared to the international conglomerate’s alternatives, the difference is huge.

Don’t forget to read the Tips you can use today below to learn if your merchant provider is ripping you off.

$$ Saving tips you can use today

 

  • Take a look at your current and last several Merchant bills to see if it has something to the effect “there may be new fees and new rates to better serve you” and if you object your option is to provide the 30-day notice you are leaving them.
  • Simple take you merchant Account bill from a year ago and compare it to last months bill.  Chances are very high for the same amount of money processed the bill is significantly higher now due to new rates & fees. Time to change?
  • Exchange fees are much lower for debit cards.  So it is important to let your managers know this so they can get used renters debit cards when possible.  A change in your rental script may be required.  ” our clients love the convenience and no late fee savings of our Automatic payment plan.  If you have a debit card I can get you started now”

Industry News & Tips You Can Use Today

Tips

  1. Marc Goodin’s Self Storage Development Book has been updated for 2018 with over 200 development tips.  Available on Amazon or email Garrett@StorageAuthority.com before the end of February for you your free copy.
  2. There are incredible new software programs that can provide the 3-mile competition and the existing square footages, rental rates. population, existing square footage of self-storage per person and much more.  Want to know more email Marc@StorageAuthority.com & Check out Radius.
  3. The SBA standard operating procedures have been updated for 2018 which require owners to manage their own facility, which means most owners who use a 3rd party management company will not be able to get a SBA loan.  Storage Authority franchise has been approved by the SBA.
  4. Two pieces of equipment I find most facilities missing that would help them save time and keep the facility cleaner for higher rents are a cordless DeWalt vacuum to clean units and a $200 rubber maid clean cart available on Amazon.
  5. The presentation of auto-pay is everything, how you say it, how you deliver it and the sub-conscious triggers the customer reads all work as a synergy to optimize your auto-pay program.  As you start lease presentation “All I need is your ID and the debit card you would like to keep on file.” As you swipe the debit card remind the customer their card will be debited on whichever date their move-in date is every month and we will send an email confirmation. Because people stay 2 extra months if they are on auto pay an extra 10 auto pays a month is worth $30,000 a year. 
Self Storage News
2018 will be the first time self-storage security becomes cloud-based.  This means several things such as automatic updates and gives us the ability to access our keypads, cameras & our gate systems from off-site to assist our clients after hours and keep an eye on our facilities 24/7.

Self Storage Articles

New self-storage facility in Broward, FL sells for $15.7M

The seller paid $2.9 million for the 3-acre property in 2016. Records show it scored $8.2 million in construction financing from Stonegate Bank in October. The 84,000-square-foot, climate-controlled facility was completed earlier this year and is made up of two buildings – one two-story building and one three-story building.

All in Build price $11.1M at $132.14 dollars per square ft.

Sale price $15.7M at $186.90 dollars per square ft.

Assuming all numbers are factual seller will net $4.6M in 15 months of developing and this is before one unit is rented.  If the developer would have taken the time to lease the facility up he could have doubled his profits!

The death of the shopping mall meets self-storage development

Goodbye Macy’s, hello self-storage.

Long considered anchors of the shopping mall, many department stores are undergoing a long, painful death. That has left mall owners scrambling to find suitable tenants to fill the large empty footprints left behind. Enter self-storage.

Department stores are slowly withering, as the internet and other apparel retailers suck the life out of them.
*Sparefoot Storage Beat


While conversions are a great option it is not easy to find the empty big boxes as they are often offered to a list or preferred developers before they are offered to the public for sale.

With Storage Authority on your team, we will help you every single step of the way, from finding land to operations, to driving your revenue year on year.  If you have a question we have the answer, we will help get you developed and lease up faster than if you were to go it alone. Team up with the experts to maximize your profits.

ARE YOU READY?

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

“You cannot change your destination overnight, but you can change your direction overnight.” ~ Jim Rohn

Recent Storage Authority Blogs You Will Enjoy!

Complete Storage Authority News Room 

Self Storage the Art of the Auto-pay

More big box retailers closing – Think Self Storage Conversions!

Recent Storage Authority News Letters

Storage Authority -Jan. 2018 Newsletter- SBA Lending Updates

December 2017 Newsletter. Let the experts help you find Land. Storage Authority & Morrow Hill

November 2017 Newsletter: When should you start your self-storage construction financing plan?

 

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Storage Authority
677 N Washington Blvd.
Sarasota FL 34236

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