In this engaging episode, we sit down with Michael Walker from Standby Self Storage and Quickfit Container Accessories. Operating eight self storage sites and running a thriving container accessories business, Michael shares his journey from property development to building a successful self storage empire.
Discover how Michael transitioned from renovating a rundown site in Croydon to launching his first self storage facility, navigating challenges, and spotting opportunities in an underserved market.
With his insider knowledge as both a self storage operator and supplier, Michael provides valuable insights into the industry, from startup strategies to addressing business and personal storage needs.
Key Takeaways from Michael:
Understand how to overcome initial challenges such as planning and cost barriers.
Discover the benefits of pivoting to innovative solutions, like container self storage, to save costs.
Get insights into starting small.
Recognize the importance of identifying and serving unmet market demands.
See how filling gaps in underserved markets can create competitive advantages.
Discover the value of adapting to market demands and leveraging local opportunities.Visit Stora.co to sign up for a demo or explore our Academy for tools, financial models, and guides to grow your self storage business.
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Chapters
00:33 Introduction
01:44 Opening his first site
05:40 Initial attraction to self storage
06:40 The growth of the business
07:35 The challenge of finding new locations
11:29 Leasing vs buying
17:17 The running of the business (marketing, sales, operations etc)
23:10 Quickfit Container Accessories
24:58 Unusual uses for a container
26:05 Top 3 important tips for success
28:12 Weirdest thing found in a container unit
29:49 What does the future hold for self storage?
32:00 The ideal feature for self storage
33:26 The future of Standby Self Storage