Let me share with you my experience of being a self-storage owner and operator in the year 2025. Remember that I sold off most of my portfolio (2 different brands) between 2019 and 2021. I am expanding...
An Easy Solution That Just Might Make an Expansion Deal Work
How many times have you found a self-storage expansion deal, calculated the expansion amount you can add to the facility, and run the numbers, but it still does not work because you can’t get enough new...
Team Members Breaking Bad? Protecting Your Self-Storage Facility’s Cash Flow Strategies
I just saw a news article, “Self-Storage Manager Accused of Embezzling $53K From ______ Mini Storage.” I also remember buying a facility showing $73,000 or so a month in income. During the due diligence...
How Much Money Do You Really Need to Get Into Self-Storage Today?
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. They will underwrite a deal using the downpayment amount...
Winning the Self-Storage Marketing Game: Key Strategies for Today’s Customers
When I first entered the self-storage business, when I thought about “marketing,” the question was, how big a yellow page ad can you afford? People often named their facilities with an “A” in the first...
Beyond 2024: Evaluating the Strengths and Weaknesses of the Self-Storage Industry Into 2025
I am sitting here in the last quarter of the year in 2024. There are some really exciting aspects of our business as I look into the future, and there are some real risks. I am planning out my next few...
One of the Biggest Mistakes I Made Buying Self Storage
I have made many mistakes in my self-storage career, but one of the biggest I made early was when I purchased an existing facility with a record storage business. I am writing this because I have seen...
Navigating the Storm: Think through Pricing Strategies in Your Self-Storage Business
Let’s talk again about algorithmic self-storage pricing strategies used by many in the industry today. I also want to share a warning about pricing strategies in the aftermath of some natural disasters...
Gaining the Competitive Edge in Self-Storage: How to Conduct a Competitor Analysis
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. Voila. Soon, our facility...
What Are Good Average and Median Incomes for a Self-Storage Trade Area?
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...
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