Logan Frank, a former supervisor and mentor, told me any number of times, “Donald, a wise man seeks counsel". Generally, this phrase was used after my choice to do my own thing without first seeking counsel.
Starting my business in 2004, I felt as though I could provide useful information to help existing self storage operators improve their bottom line and compete in a maturing industry. Over the years, I have come to realize that most operators believe they have the answers, much like I did at the age of 27. Over the years, I have learned many things from many people, all of which can be useful to other self storage Owners, Managers, and Developers.
A few reasons you might want to reach out:
Competition Studies – When we understand the competition, we make better decisions .
Facility Audits – When we inspect and evaluate, we modify behavior for improved results.
Feasibility Studies – The Self Storage Industry is growing very fast. This service is VITAL before acquisition or development.
Financial Models – Accurate budgets are essential for operations, obtaining loans, or projecting values.
Property Management – What questions should be asked in choosing a Management Company or even if to have one?
Valuations – If Buying or Selling Properties, the valuation is everything. Consider an impartial set of eyes when determining value.
Concept to Lease up – Banks and Steel Companies should not be the first phone call. A consultant who can guide through Concept to Lease up should be. The self Storage Industry is extremely active and there are many moving parts. We can write a development plan together.
Price Rite Self Storage – Took over property management after a recent acquisition. Income has increased over 75% in one year. Property is now at 93% occupancy and climbing.
Laughlin Self Storage – Took a bank failed asset with a new owner and together he and I improved the overall value by 33% in 12 months and sold it to an investor who wants the asset long term. Now the new owner and I are working on a 20,000 GSF expansion.
Allen Genoa Rd Self Storage – The owner had a concept of converting a former apartment slab that was remaining after a fire into a self storage project. The project is not yet 1 year old and we are 83% occupied; revenue has increased for 10 consecutive months.
Krum Self Storage – Bank failed asset with no income and no occupancy that physically sits in an area with no homes and no traffic. Property filled up and sold to another investor. We just finished a 10,000 SF expansion and it is full in just 6 weeks.
Helped an owner see past a 4 acre self storage development and we are now working on a 16 acre multi-use development with the city supporting us all the way.
Helped owners find buyers for 7 locations in 2015
In a three hour property visit, an owner was able to see that he would never make any money if he did not change his business model.
What do I do for a living? My job is to help small business owners and entrepreneurs be more successful by thinking through all aspects of their self storage projects. I have and will continue to travel across the country providing direct, meaningful support to current or future self storage operators. Let us discuss your needs and see if my services can add value to your business.