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Self-Storage Management

The storage boxes aren't going to fill up by themselves, the facility needs to be in good shape always and customer feedback must be attended to. It's a juggling act in a relatively fast-paced environment. Are you up for it?


Self-storage management sets out the systems and processes to ensure your facility is able to meet the rising demand for storage box units(1). As the competition will intensify (2), without proper management, the weight of growth can be too heavy to bear.


As clique-ish as it may sound, not having a plan is a plan to fail. Let's look at some of the reasons that underline the importance of self-storage management.


First, a self-storage facility is a unique real-estate proposition. Unlike home or office rentals, it is a short-term rental facility. It's monthly, if not shorter. The rapid ebb and flow of customers can be challenging if you do not have a management plan.


Second, customers are spoilt for choice, from independent and owner-operated self-storage facilities to multi-location chains, there is always someone waiting to welcome them. Ensuring your facility is an attractive option cannot be an ad-hoc activity. It is a consistent endeavor with systems, processes, and people in place to execute them.


Third, unwieldy growth can be a liability. With demand ever rising, it is tempting to embrace everything and everyone that comes your way. But without a proper self-storage management plan, the next customer can be the straw that breaks the camel's back.


As the business landscape changes, you will need to adapt the management of your facility accordingly. On this note, conducting storage asset management reviews is a good practice. It gives you the opportunity to take stock of the business. Without it, you will be flying blind.


Furthermore, these reviews can shed light on potential growth areas. As competition intensifies, innovation will take precedence in growth-oriented companies. But they must be guided by data and insights, which self-storage management systems can produce.


Self Storage Management Companies

Whether you choose to delegate completely or in part the management of your self-storage facility is a decision you must deliberate carefully. By and large, it boils down to how much control you are willing to accede to the third party.


There are two types of self-storage management services offered to businesses in the industry - full autonomy and limited responsibilities.


Under a full-autonomy management model, every aspect of the facility's day-to-day operations is the responsibility of the third party. Amongst others, they include marketing and sales, pricing, IT infrastructure, customer management, rental agreements, security, and payment systems. You will receive management reports at periodic intervals.


In the limited responsibility model, you will retain some degree of control over the day-to-day operations of the facility. While some may allow you to choose a selection of the services they offer, others may have fixed packages. In your research for suitable self-storage management companies, take note of the suite of services offered and how they are packaged.


The fee payable to the self-storage management company will be dependent on the choices above. They can range between 5% and 15% of your monthly revenue. Currently, there isn't an industry standard with regard to the latter.


How do self-storage management companies raise your game?

One of the major reasons is their experience and expertise. It is not possible for you to keep on top of everything in the business and industry. As the industry evolves, there will be new things taking shape. Keeping up with these trends can be challenging.


Managing employees is a big task. From recruitment and training to salary and compensation plans, it is not every business owner's cup of tea. With a tight labor market condition, human resources management has become a more acute function now. But with a third party managing your facility, you can strike this off your watch list.


The right pricing strategy is vital in a competitive market. Too low and you may find yourself in the red, too high and you may find yourself priced out of the market. An experienced self-storage management company possesses the local knowledge as well as competitors' prices to develop the right price band.


Finally, neither marketing nor sales are the forte of every business owner. But you will need to get them right, especially in the age of social and digital media marketing. It can be a very complex undertaking when you think of the frequently changing algorithm of social and digital media platforms. While the third party may not have the experience or expertise, they know of marketing agencies with them.


Some of the top 10 storage companies are run by self-storage management companies. With multiple locations, they enjoy economies of scale. But more importantly, it allows the owners to focus on more strategic matters. It is, as mentioned, a fast-growing industry. There is always something new on the horizon.


The top self-storage companies have the experience and expertise to do the job well. Add available technology into the mix and you could well be on your way to greater success.


BEST SELF STORAGE FRANCHISES

The self-storage business is not without risks. There are pitfalls, which may not be obvious to some, especially if you are new to the industry. Thus, buying into a self-storage franchise is a plausible alternative.


Self-storage franchising is a recent (3) development in the industry. It provides entrepreneurs and investors with a pathway into it. Like most franchising models, it lowers the risk to the entrepreneur or investor. Sometimes, it is possible to turn in a healthy revenue or profit from the word "Go!". Of course, this is subject to the franchise you bought into.


If you are open to considering a self-storage franchise, below is a list of the best self-storage companies with franchising opportunities:

  • Go Mini's

  • Garagetown USA

  • Zippy Shell

  • 1800-Pack-Rat

  • Units

  • Storage Authority

  • Myway Mobile Storage

  • U-Haul

  • PODS

  • Extra Space Storage


Apart from the above, you might want to explore the list of the top 100 self-storage operators:

  1. Public Storage Inc.

  2. Extra Space Storage

  3. National Storage Affiliates Trust

  4. Life Storage Inc.

  5. U-Haul International

  6. CubeSmart

  7. Prime Group Holdings LLC

  8. StorageMart9. Merit Hill Capital

  9. SROA Capital

  10. SmartStop Self Storage

  11. StorQuest Self Storage (The William Warren Group)

  12. W. P. Carey

  13. Simply Self Storage

  14. Andover Properties LLC

  15. Morningstar Properties

  16. Reliant Real Estate Management LLC

  17. Westport Properties Inc./US Storage Centers

  18. Amsdell Cos./Compass Self Storage

  19. Store Space Self Storage

  20. Rosewood Property Co.

  21. Advantage Storage

  22. Madison Capital Group LLC

  23. Atlantic Self Storage

  24. Red Dot Storage LLC

  25. Brookwood Properties LLC

  26. Devon Self Storage

  27. KO Storage

  28. Strat Property Management Inc.

  29. Safeguard Self Storage

  30. Urban Self Storage Inc.

  31. Baco Properties

  32. A-1 Self Storage

  33. SecureSpace

  34. Metro Mini Storage

  35. Baranof Holdings

  36. Dahn Corp.

  37. Snapbox Self Storage

  38. Lock Up Self Storage

  39. Spartan Investment Group

  40. CGB Group (A-Affordable Storage)

  41. Arcland Property Co.

  42. Watchman Properties (ManCave Storage Group)

  43. Crystal View Capital

  44. Guardian Storage

  45. Valley Storage Co.

  46. Platinum Storage Group

  47. Highline Storage Partners

  48. SAFStor

  49. Nolan Inc./Nolan Brothers of TX

  50. Superior Storage

  51. VanWest Partners

  52. Value Store It Management Inc.

  53. All-Purpose Storage

  54. All Aboard Storage

  55. Pogoda Cos.57. Budget Store & Lock Self Storage

  56. 10 Federal

  57. Stein Investment Group

  58. Ramser Development Co.

  59. Storage of America

  60. Trojan Storage

  61. Storage Etc.

  62. Gulf Atlantic Asset Management

  63. Etude Capital

  64. Haggar Group LLC

  65. StorageMax

  66. StorPlace Self Storage

  67. Prestige Capital Management

  68. Bee Safe Storage and Wine Cellar

  69. Stor-N-Lock Self Storage

  70. Wentworth Property LLC

  71. Towne Storage Management Co.

  72. Five Star Storage

  73. Keylock Storage/Bitterroot Holdings

  74. UTEX Storage Partners

  75. Tierra Corp.

  76. Next Door Self Storage

  77. America West Management

  78. SKS Management LLC

  79. Purely Storage Inc.

  80. Boardwalk Development Group

  81. Epic Group (WBK-EGI)

  82. Neighborhood Storage

  83. Jenkins Organization Inc., The

  84. Absolute Storage Management Inc.

  85. My Garage Management LLC/Riverbend Development

  86. U-Stor-It89. Cubix Storage

  87. Columbia Storage Group

  88. A-American Storage Management Co. Inc.

  89. LockBox Storage

  90. Ojai Oil Company/Golden State Storage

  91. Polo Properties LLC

  92. Stor-It Self Storage LLC

  93. Nova Storage

  94. RHW Capital Management Group LLC

  95. Access Self Storage

  96. Baldwin Howell Properties LLC

  97. Guardian Self Storage

Storage Unit Management Software

With the introduction of technology into the industry, operators of storage units have greatly enhanced productivity, improved customer experiences, and increased profitability. Technology has helped owners navigate the ups and downs of the business better. Best of all, it keeps them fighting fit!


Most self-storage facility management software is highly versatile. They can handle a wide spectrum of activities needed to run the facility well. Some can be customized or plugged into existing software already in use. This is important because it avoids a complete overhaul of the company's IT infrastructure, which can be costly.


The best self-storage management software possesses the following characteristics:

  • Intuitive sitemap

  • Allow for customizations

  • In-built CRM system

  • Tenant portal to enable self-management of all matters pertaining to their rental

  • User-friendly payment system


The cost of self-storage varies from vendor to vendor. Some vendors charge monthly or annually while others per unit. In addition, you will need to factor in as well the features you are after. Expect to pay more if you are looking for a complete suite.


One that merits consideration is Quickbooks self-storage software. Most recognize it as accounting software. It is subscription-based. Like most, it can be accessed from anywhere.


Other self-storage management software includes:

  • SiteLink

  • Unit Trac

  • 6Storage

  • Storman


SELF STORAGE MARKETING

An essential business activity is marketing. Remember, customers, are spoilt for choice. Unless your brand of self-storage facility remains salient in consumers' minds, you are unlikely to be considered.


Advertising is a major marketing activity. Without it, you will be winking in the dark. Regardless of the number of winks or smiles, you will not be noticed. Your other marketing activities may fail to achieve their objectives as a result. In a nutshell, you have made it easier for competitors to steer ahead of you.


Today, self-storage advertising can take on many forms. From TV, radio, and print to online, you are limited only by your budget. More importantly, you can tailor the message and execution according to the platforms you intend to use. There are a number of marketing agencies that specialize in advertising self-storage facilities.


In the online space, which is most commonly used by businesses, you can opt for any or all of the following:

  • Inbound Marketing

  • LinkedIn advertising

  • Social media advertising, for example, Facebook, Instagram, Tik-Tok or Pinterest

  • Google Ad


If you want a quick return on your advertising spend, Google Ad's pay-per-click (PPC) is arguably the most effective. Over 3 in 5 have clicked on a Google Ad (5). It demonstrates the effectiveness of Google advertising. After all, there is a reason "Google It" has made it into the everyday conversation of people.


Arguments against PPC tend to revolve around its cost. But it doesn't have to be expensive. Depending on the revenue potential of your business, it can be relatively low in comparison. The speed at which it can produce the desired result is the most appealing draw of PPC advertising. With proper targeting, you can expect to achieve the desired result within months if not earlier.


Partnering with the right marketing agency is important. They can guide you on budgets, choice of media platform, messaging, and offers. With their experience and expertise, you can look toward a favorable return on investment.


The future of self-storage businesses is bright. But as argued at the onset, proper management is key. The moving parts must be well-oiled to ensure they run smoothly.

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A Fun Online Resource for Self Storage Advertising

Storage is Bananas

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