257. Self Storage Management for Beginners: 10 Crucial Tips You Can’t Ignore
Do you know what makes you money in the self storage business? Management! If you get your management and operations right, you’ll see your revenues jump, your occupancy rates increase, and less turnover from your paying customers. After running our $250,000,000 self storage business, we’ve learned a thing or two about making a facility perform the best (and what makes the most money).
Conner is back this week to walk through ten crucial self storage management tips beginners can use to make their facilities more successful. We’ll hit on increasing revenue, why occupancy ISN’T as important as you think, the metrics you must be tracking, and why thinking of ways to fail makes you more successful.
With the storage industry becoming more competitive, this is something you CANNOT afford to drop the ball on. Get this right, and you’ll scale your self storage investment portfolio faster and with fewer headaches. Get it wrong, and you could be stuck with expensive, underperforming facilities until you course-correct. Whether you’ve got one facility, twenty, or are just starting to invest in self storage, these tips could get YOU to the next level.
What you’ll learn in today’s show:
- Ten crucial self storage operation tips that will make your facility more successful
- Why occupancy rates AREN’T everything (and what you really should focus on)
- Following the “PACE” framework to ensure your facility doesn’t fail
- What to do when you have a limited budget but want to improve your facility
- How to beat your competition by zeroing in on the “details” of self storage
- Why you DON’T want to invest in self storage by yourself
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