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Giving your self storage facility a tune-up

Giving your self storage facility a tune-up. Bob Copper Self Storage 101 866-269-1311. Changing the Oil and Rotating the Tires. When is the last time you performed a tune-up on your self storage facility? Why are you taking the risk?. Self Storage Tune-Up. Making Decisions

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Giving your self storage facility a tune-up

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  1. Giving your self storage facility a tune-up Bob Copper Self Storage 101 866-269-1311

  2. Changing the Oil and Rotating the Tires When is the last time you performed a tune-up on your self storage facility? Why are you taking the risk?

  3. Self Storage Tune-Up Making Decisions • You can be the cheapest or be the best. • Why would you choose to be the cheapest? • Invest in your managers, give them the tools to be the best. • Sales and collections training • Updated technology • Timely maintenance

  4. Self Storage Tune-Up There is NO silver bullet. • Self Storage is built one tenant at a time. • EVERY phone call, EVERY web lead, EVERY walk-in is critical to success

  5. Time to Get to Work • It will take some effort & you can’t let your ego get in the way. • ‘Good enough’ isn’t ‘Good enough’ anymore • Biggest enemy of ‘great!’ is ‘pretty good’. • The most successful people have always surrounded themselves with smart people with different ideas • Is my ‘ego’ getting in the way of a more successful business?

  6. Time to Get to Work • You will probably have to make some changes. • Insanity: Doing the same thing and expecting a different result • What am I doing that’s ‘insane’? • Tired marketing programs? • Ineffective hiring and training program? • Outdated revenue management system? • Refusal to join the 21st Century?

  7. Good news? Most of your competitors are not going to do anything different. • You will have an operational and marketing advantage over your competitors • Benefits are short and long term. • Immediate improvement in operations • Long term asset value increase

  8. Your Operation • Starts with your Operations Manual • Policies & Procedures • Cannot rely on ‘story telling’ technique • Leave nothing ‘to chance’ • Able to change with changing business model • Clearly explains how you expect your facility to be managed

  9. Who’s behind the counter? • Self Storage is a manager-centric business • Success or failure greatly depends on the manager • Who’s got the keys? • Order taker, leaf raker and baby-sitter? • Professional sales person? • Do you have a training program?

  10. Most important consideration • Self storage facility only as good as the onsite manager • Who do you hire? • Where do you get them? • How do you train them? • Do you trust your investment, credit, legacy, net worth in his or her hands?

  11. STOP AND THINK… • Very little improvement in operations, revenues and profits can happen without first making sure you have the right person behind the counter. • Do you believe without a doubt that the person responsible for your self storage facility has the personality, intelligence and common sense to move your facility from ‘okay’ to ‘great!’?

  12. The Physical Plant • First impression most important. • People can make up their mind about a business when they pull into the parking lot • Trust & Confidence diminishes with a poor first impression • Do potential customers get a great, good, okay, fair or poor impression of my facility when they first pull into the parking lot? • What does potential tenant see? • What does your facility say to potential tenants?

  13. What Does Your Customer See? • Professionalism? • Welcoming? • Clean? • Well Kept? • Secure? • Worth it?

  14. Drive up curb appeal. • Painted curbs • Well-marked parking spaces NOTE: NEITHER THE MANAGER NOR THE OWNER SHOULD BE USING ONE OF THE PARKING SPACES IN THE FRONT OF THE OFFICE

  15. Parking lot. • Trash & Weeds • Faded or no stripes • Dumpster location. • NOT at the front of the facility • Clearly marked and free of outside debris

  16. Office door. • ONE new Visa/MC sign! • No hand-made signs, ever • Front gate. • Clear, new signage • Keypad works, arm is straight

  17. Gutters • Replace or remove dented gutters • Poor Lighting. • Security • Customer-friendly • Landscaping. • Neat, well kept

  18. Office Clutter. • Make it simple, it’s a simple business • Merchandise Display. • Full, clean, priced • Restrooms • Clean, well-stocked

  19. Uniforms. • Name tags • Shirts with logo, name of facility • Replace if torn • Rental Trucks. • Clean • Ready to rent

  20. What about your sign?

  21. Update Your Management Software • Web-based. • No back up • Ownership can review real time • Revenue Management system. • Manage rates by occupancy • Alerts to increase or decrease • Auto-Debit. • Make it a big deal • ‘No Late Fee’ guarantee • Three Magic Words!

  22. Accounts receivable. • Better documentation to effectively manage collections effort • User-friendly. • MORE important that manager can provide great customer service than owner can see how many different ways he or she can look at a report • Usable reports. • What do you REALLY need to know to effectively manage your business? • Daily activity • Revenue Management • Discounts & Exceptions • Unit Mix

  23. Marketing 101: Understanding The Value of Your ‘Widget’ • Average tenant stay is 10 months • Average rate is $100/month • Average rental value is $1000 • Not including ancillary income & fees • How much would you invest to add $1000 income? • Smart, effective advertising is an investment. • What are the averages for your site?

  24. Check Your Marketing Efforts • Resist Temptation to Stop Marketing • People ARE still renting storage space • More important than ever to stand out among competitors • Yellow Pages • Fresh, up to date • Easy to read • Spell check • Long term, get it right • ROI?

  25. Website • Does it work? • Easy for customers to contact? • Spell check • Features & Benefits • Can customers reserve unit? • Rates on site?

  26. Third Party Call Center • Expands hours • Professional Effort • Business cards. • Have CURRENT manager’s name • You can get them for FREE • Signage. • Does it have your phone number? • Is STORAGE the largest word on your sign?

  27. Your Training Program? • Train and equip managers with high level sales skills tools • Sales skills • Phone answering techniques • Features and benefits • Closing techniques • Lead follow up • Use technology for training (recorded mystery shops)

  28. Goofy Unit Mix? • Do you really need 9x10, 10x10 AND 11x10? • Too many unit sizes unfair to managers, makes their job more difficult • Hampers marketing efforts • Review forms, what do you really need? • We rent, collect and do it in a reasonable amount of time… that’s it.

  29. This is NOT a great merchandise display… but it’s better than this one… Display needs to be full, priced, clean.

  30. How can anyone get anything done at this desk? What message does this send to your customers?

  31. ‘50% off!’ for how many months? And why would you want to give away rent before you even talk to the customer? Why would you need two Visa/MC stickers? Why NO hand-made signs?

  32. Really? THIS is professional? Would YOU want to leave your stuff here?

  33. The manager told me that the owner wouldn’t let him spend the money to fix this. Or this…

  34. Not sure what this sign is supposed to say. The manager says he never thought to replace the flags.

  35. Cobwebs & trash Not sure if this is a legal crop or not?

  36. Might be time to replace the numbers. These weeds are growing INSIDE the doorway.

  37. What does this say? How does this look?

  38. Buy some new numbers! What does this mean?

  39. The ‘rentability’ of your site • It’s not about you, it’s about the customer. • Does it help rent space or increase collections? • Does it allow the manager to focus on priorities? • Does it affect the bottom line? • Is it increasing the value of your assets?

  40. Bottom Line • The ‘condition’ of your storage facility says a great deal about how you treat your customers. • YOU are not the most important consideration: Your customers are. • Stepping back and taking a ‘customer’ view of your facility is a highly valuable exercise.

  41. Your managers may never have the chance to conduct a professional sales presentation or collect rent if a potential customer is turned off by the curb appeal of the facility. • Curb appeal, cleanliness, condition and organization of the storage facility are critical to the success of your managers and your marketing channels.

  42. Your ‘operation’ is a likely a multi-million dollar investment; do you treat it that way? • Operating without an up-to-date operations manual is too risky, so why do it? • You are likely leaving money on the table; why? • Why be content with ‘good enough’ when ‘great!’ can be your new ‘normal’?

  43. Bob Copper Self Storage 101 www.selfstorage101.com 866-269-1311 bob@selfstorage101.com

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