Let me share with you my experience of being a self-storage owner and operator in the year 2025.

If I had to sum up my experience of self-storage growth in 2025 with one word, it would be…

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How many times have you found a self-storage expansion deal, calculated the expansion amount you can add to the facility, run the numbers, and it still does not work because you can’t get enough new square feet in the project?

This has happened a number of times to me.

Given the current pricing of existing facilities and construction costs, it can be challenging.

Let me tell you a trick I have used. And I will do so by an example.

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I just saw a news article “Self-Storage Manager Accused of Embezzling $53K From xxx Mini Storage.”

Lets talk about how to protect yourself from loss and give some concrete steps and procedures.

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I see a common mistake today as I work with people who are getting into the self-storage business.

Especially people getting in their first deal.

Let’s figure out how much money you may need to buy self-storage today.

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When I first entered the self-storage business, “marketing” was all about how big a Yellow Pages ad you could afford.

It was nothing to spend $25,000 to $50,000 a year on a half-page Yellow Pages display ad.

Times have changed.

Let me share with you the five key strategies I see to get on top of today to win the game of self-storage marketing.

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I am sitting here in the last quarter of the year in 2024. As I look into the future, there are some really exciting aspects of our business, and there are some real risks.

I am planning out my next few years for myself as well as working on what I can tell people I coach and work with.

As I started writing down my thoughts to make them coherent, I realized this was an episode.

Let me share with you what I see as the five strengths (rewards) of the business and the five weaknesses (risks) of the industry as we move forward into 2025.

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I’ve made many mistakes in my self-storage career, but one of the biggest came early on when I purchased an existing facility that included a record storage business.

Let me share what it is so you don’t do the same thing.

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Let’s talk about algorithmic self-storage pricing strategies used by many in the industry today again.

I also want to share a warning about pricing strategies in the aftermath of some natural disasters like Hurricane Milton or the most recent hurricane, Helene.

This could keep you out of “hot water.”

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Congratulations. You now own at least one self-storage facility.

In the old days, we would just set up shop, get our operating system up and running, and turn on the lights.

Those days are long gone.

Let’s look at a way to run a competitor analysis so you can position your facility to win today.

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Although I did not attend the most recent Self Storage Association convention in Las Vegas, I have been studying many of the sessions that occurred there.

One thing I found very interesting was the presentation that showed the results of StorageMart’s Compound Annual Growth Rate (CAGR) of Net Operating Income over the past five years using the data from 75 stores.

Let me share my takeaways from that and one way we use this idea in the real world as we look at opportunities.

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Creating Wealth Through Self Storage

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