Yesterday Kmart/Sears/Macy’s announced another round of store closings.
If you type in kmart & sears closings into google search you will see round after round of store closings. Maybe there is one near you. In the past 5 years Sears has gone from over 2000 stores down to 12oo stores.
Here is a map of the latest round closings. The article above will give the Towns.
While this is a sign that Amazon is killing the big box stores it is also a sign it time to consider conversions for self storage. I recent talked to one self storage developer and he only does conversions. He has done 4 and has each is doing very well. The big boxes are typically in areas of suitable, even high populations so it is a matter of confirming the available demand taking into consideration of the existing self storage.
Conversions typically save you time because they are much easier to get approvals and takes less time to build. Grocery stores are a great conversion as well and they don’t have to be oversized. Often a 30,000 square foot self storage will have a large parking lot you can convert into another 30,000 sf of self storage.
Here is a quick web demand study on one site I randomly choose. This is a great program everyone looking for self storage because what used to take a couple of days is provided in seconds. send me an email at Marc@storageauthority.com to learn more about conversions or this web demand study
If you look to the left you can see the existing self storage demand information. What is real interesting and what makes this site worth checking out is almost all the existing self storage is non climate control!
To More Success in 2018!
You can do it!
This is a great question? If self storage is so good why isn’t everyone developing self storage? If being rich (vs poor) is a good idea why isn’t every one rich? For starters not everyone is prepared to do the work or take the risks either one would take. And for many they simple have other goals.
Here is a slide show from a recent presentation we did for a large franchise consulting group. It is clear most individuals will not build self storage on their own for one or two reasons. One they do not have the money required. (often $400K) or they do not know how to get past the Road Blocks and Minefields. But now for the first time the is a path to get past the Road Blocks and Minefields.
Where Else can you get help on all 4 main items it takes to get develop and operate you self storage Business?
Why not you? Why not now?
Ready to start your own Self Storage give us a call or get pre qualified by applying on line.
Marc Goodin 860-830-6764
Now is one of the best times ever to join the self-storage industry. I hope you have a minute to read a little about my self storage story and Storage Authority. I became a self storage expert by learning in the trenches. As a professional engineer I designed my first self storage over 30 years ago and many more since then, including 3 personal self storages I designed, built, own and manage.
GP & I relaxing on the concrete slab of one of our self storage buildings.
I have helped many people get started in Self Storage. Quickly I learned everyone was asking the same questions over and over so I wrote a couple of self storage books, to help with some of the common questions and sold thousands. But only 1 in over a thousand readers ever got started. For most there were too many unknowns.
My book covers many of the basics but there is nothing compared to having Storage Authority on your Team.
One day a hotel franchise expert, Scott House, gave me a call. He had searched everywhere to find someone to help his hotel and apartment clients get started in self storage, where they would make much better returns. He could not find anyone until he read my books and decided to call me. I agreed to help. After about 2 months he was amazed at how complex it was to get started and how each project is both similar and unique and suggested we develop a self storage franchise. And Storage Authority Franchising was created, the only self storage franchise in the US. Scott got so excited about self storage and Storage Authority that he is presently building his first personal self storage in FL
This is the first draft elevation of Scotts office. The place is going to be beautiful.
Getting started with Storage Authority is easy and the best way to ensure your success in the self-storage industry. You will benefit from our many years’ of experience as we advise and assist you in all phases of self storage ownership, from land acquisition, design, construction, marketing, operations, sales and on-going support. We not only eliminate the need for a costly learning curve but provide your business with the latest technology, operating systems, marketing strategies and ongoing training that will not only allow you to compete in your market but dominate!
Many franchisees want to take advantage of additional profits by building their own self storage vs. buying an existing self storage. This route also allows many new franchisees to get started with $400K liquid cash equity, less than half the typical cash capital investment.
It is a complex maze between finding the right parcel of land, banking, design, obtaining regulatory approvals, construction, and pre-opening marketing and preparations with minefields, delays and cost overruns at every turn. Storage Authority is the Solution. We have learned self storage in the trenches and are ready to help you jump over the minefields.
You don’t want to be feeling like this guy! And that is why we have your covered!
We have created the Storage Authority proprietary “Dynamic Ease Development Series” Finding Land Through Pre-Opening Tasks. This step by step process along with our one on one expert guidance helps our franchisees throughout the land discovery and development phases, get started faster, go around the minefields, save money and be ready to open with a modern, premium facility with clients at the door waiting to move in day one.
We look forward to explaining more about how this optional premium development service will help you build your state of the art facility for less money and in less time, with confidence. The great news is we are waiving the $50,000 fee for this premium service for franchises awarded in the next 2 months.
I would love to sit down over a cup of coffee and tell you the rest of the story. Send me an email and I would be delighted to meet you in Sarasota FL
To Your Success!
Ps Don’t forget to sign up for our free news letter on our website. Every month you get the latest Self Storage news and tips you can use. www.storageauthorityfranchise.com
Many franchisees want to take advantage of additional profits by building their own self storage vs. buying an existing self storage. This route also allows new franchisees to get started with less than half the cash capitol investment. The problem is they do not know how to started.
It can be a complex maze between finding the right parcel of land, banking, site plan design building design, obtaining multiple regulatory approvals, construction and pre opening marketing and preparations, with minefields, delays and cost overruns at every turn. Marc Goodin, our founder, has learned self storage by being in the trenches and is ready to help you jump over the minefields. He is a professional engineer who designed his first self storage over 30 years ago and many more since then, including 3 personal self storages he designed, built, owns and manages.
We have created the Storage Authority proprietary “Dynamic Ease Development Series” Finding Land Through Pre-Opening Tasks. This system along with our one on one guidance helps our franchisees get started faster, go around the minefields, save money and be ready to open with a modern premium facility, ready to rent up. Our Strategic Development Systems consists of an integrated step by step process where our expertise provides guidance and support throughout the land discovery and development phases.
Here is a partial list of items covered in our dynamic Ease Development Series.
Chapter 1 Introduction
A Building Your High Performance Team
B First 30 Days
C Development flow charts
D Chapter 1 Worksheets
Think Retail $17.95 on sale for just $12.99 and sell more locks than your competition sells at $9.99.
Chapter 2 Land
A The Basics of a Good Location
B Typical Basic Land Requirements
C Hiring a Quality Broker to Assist You with Finding Land
D Additional Ways to Find Land
E Initial Land Review Prior to An Offer or Feasibility Study
F Making the Offer & Due Diligence
G Feasibility Study
H Chapter 2 Worksheets
Chapter 3 Purchasing an Existing Self-Storage Facility
A Seven Primary Steps of a Real Estate Transaction.
B Investigating an Existing Facility
Chapter 4 Banking/Lending
A Loan Options
B Loan Considerations
C Often Over Looked Expenses
D Chapter 4 Worksheets
Chapter 5 Design & Regulatory Approvals
A Finding Design Consultants
B Site Plan Design
C Regulatory Meetings
D Building Design
E Security Design
F Video Surveillance Design
G Chapter 5 Worksheets
Chapter 6 Bidding and Construction
A Finding a Contractor
B Construction Specifications & Bidding
C Construction Review
Chapter 7 Pre-Opening Preparations
A 120 Prior to Opening
B 30 Days Prior to Opening
C Pre Opening Marketing
D Chapter 7 Worksheets:
You may even have experience in some or many or these items but you will be surprised how many items are just different in the self storage world and because of that our assistance will make a huge difference. For example you may have a good relationship with your bank and getting a bank loan may not be a huge concern but there are a couple of standard bank loan clauses such as requiring a Debt Coverage Service Ratio ( DCSR) of 1.3 in the loan. This could be risky as self storage start empty and may not meet this prevision in the beginning. But even a good loan request presentation will make you look very professional and experienced in self storage and this along with the Storage Authority Franchise program you may get you a better loan.
Our well timed reminders and explanations will often save you money and give you the proper time for coordination which means fewer delays. You may have many of them on your check list like, wetlands delineations, maximum impervious surface zoning check, sight line check, soil borings, existing water service pressure test for sprinklers, site sign design, photos & reports for regulatory meetings etc. etc, etc, it easy to forget one or two or several get the wrong results or over pay if a clear explanation is not provided. Just for your engineers we provide over several dozen items for them that are often overlooked and typically multiple dozens more as we review their plans. And of course the better your plans are the more accurate your constructions bids will be with fewer problems and cost overruns.
One major area we provide detailed guidance on is your site layout. Often this saves multiple weeks in the process and gets you a better layout and even more square footage.
The best way to learn more about our proprietary “Dynamic Ease Development Series” Finding Land Through Pre-Opening Tasks and our various systems and platforms is to complete our online application to become prequalified for a franchise as soon as possible and start discussions with your franchise director. We look forward to explaining more about how this optional development service will help you build your premium facility for less money and in less time with confidence.
We are ready and excited to help you succeed!
And while your questions may intialy be about development soon your questions will be open and sales, marketing and operation. The good news is we are ready to help you Crush Your Competition!
You Can Do it!
By Garrett Byrd
There are many things that often go wrong during the development and construction of a self-storage facility. Franchising helps to avoid the pitfalls trusting in the expertise and guidance of the franchisor. Marc Goodin (President of Storage Authority) is a civil engineer at trade and has been designing and building self storage facilities the last 25 years, that’s experience you can trust in. Storage Authority helps and assists the franchisee examine some of the key difficulties that often go unpredicted by owners and developers, that often create significant cost overruns, lengthy delays and even project shut downs that could have been avoided with the proper research, planning, and design. The most overlooked disasters occur because of poor or incomplete investigations or lack of understanding of the following categories:
1 Initial investigations
2 Environmental issue
4 State Department of Transportation (DOT)
5 Site Plan & Architectural Design
Keep an eye out for Marc’s latest article in the September 2017 issue of Inside Self Storage; he is giving tips to developers on avoiding development disasters. With Storage Authority franchising you get the guidance and expertise first hand.
If you haven’t already, here is a link to subscribe to Inside Self Storage.
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.
It is hard to come up with the $400K – $500 minimum cash equity required to get bank financing. Or maybe even if you have it you are not ready to spend your last dollar of savings. I know this because I was short on equity for my first self storage and took on a 50 – 50 partner. It was the best decision I ever made. This self storage made millions in profits and is still making me good money every month and I now own 2 more facilities. Not to mention the growing nest egg when we decide to sell it. It took me a couple of years of asking around to find a partner. To make it easier for you Storage Authority decided to help potential partners find each other via the Self Storage Partner Registry.
Storage Authority is excited to announce its first of a kind self storage developer match program. Everyday we hear from potential developers who are ready to move forward with their Storage Authority self storage but do not have the cash equity to get a loan. The Storage Authority Match program will put two individuals together to create a joint venture team who will have the typical cash equity required to qualify for a self storage loan and move forward with their joint venture Storage Authority facility. The program has just launched for the state of Texas and will launch for the rest of the US later this summer. Typically, it is for individuals who want to be 50 – 50 partners.
To qualify for the program, you must have a minimum of $200K cash equity you are ready to invest in a Storage Authority self storage and:
If you are an investor we also have multiple investment opportunities as well from investing in individual self storages or Storage Authority, LLC.
Parties Interested in the Storage Authority joint venture program or investing in Storage Authority, LLC can call or email Marc at 860-830-6764 firstname.lastname@example.org for more details.