Big Money, No Whammies

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I don’t know if you ever thought about this or not, but how many businesses have a larger ticket that self-storage? Think about it for a minute. How many businesses have a larger average ticket than self-storage? And then what’s the average ticket at your place, $600? $800? $1000? Whatever it is who’s got a bigger ticket than that? Automobile dealers. Upscale clothing stores and furniture stores maybe. The Emergency Room, certainly. Apartment communities. Home remodel and roofing and siding contractors. Maybe there are a few businesses that do have a larger average ticket, but how many of them have the kinds of margins a successful storage operator has. I bring this up, because if all you do is walk away form this book thinking it was nice of me to share some of my experience and insight, then you are missing the point. The point is that the effort and expense it will take you to turn your self storage place into a sales and marketing machine will be well worth the investment.

Now, you probably have a whole lot of people who stay just three months, but that’s okay, too, isn’t it? If they’re pumping up your occupancy and you like your rental rates and you’re selling them boxes, locks, insurance, and you’re renting them a truck, and making sure one out of three of them refer a friend to you, aren’t the short termers great for business, too?

I also bring this up in order to point out to you that you have tremendous upside in increasing average lengths of stay.  One very real effect of turning your self storage facility into a sales and marketing machine is the better experience your current renters will have.

Written by Tron Jordheim, Director of PhoneSmart.

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Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.