Creating Wealth Through Self Storage

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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Creating Wealth Through Self Storage

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**The Storage World Analyzer**

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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.

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

** 5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

**Twitter**

**The Storage World Analyzer**

**The QuickStart Academy Store**

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.

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

** 5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

**Twitter**

**The Storage World Analyzer**

**The QuickStart Academy Store**

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.”

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

** 5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

**Twitter**

**The Storage World Analyzer**

**The QuickStart Academy Store**

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.

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

** 5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

**Twitter**

**The Storage World Analyzer**

**The QuickStart Academy Store**

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.

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

** 5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

**Twitter**

**The Storage World Analyzer**

**The QuickStart Academy Store**

Let’s talk about self-storage, technology, robots at storage facilities, and why in the world I ever made this episode.

Hope you enjoy.

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

** 5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

**Twitter**

**The Storage World Analyzer**

**The QuickStart Academy Store**

We are going to discuss self-storage brand loyalty, self-storage revenue management, and customer value.

And we are going to start with Netflix.

It might not make sense now, but it will.

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

** 5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

**Twitter**

**The Storage World Analyzer**

**The QuickStart Academy Store**

If you took a loan or purchased your self-storage facility around 2018 and it is time to refinance, you better understand where you will stand with a bank.

I suggest doing this before calling a lender.

Let me share the exercise I go through to develop my strategy BEFORE reaching out to lenders.

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

** 5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

**Twitter**

**The Storage World Analyzer**

**The QuickStart Academy Store**

In the self-storage world, there is a lot of momentum towards fully automated facilities, no matter the project size.

I am not here to say that is the wrong direction.

I even am involved in one myself as a partner.

But today, let me talk about a reason to consider the more traditional approach to self-storage management using trained managers.

AND ITS NOT FOR THE REASONS YOU MAY THINK.

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

** 5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

**Twitter**

**The Storage World Analyzer**

**The QuickStart Academy Store**