If you’ve answered yes to one or more of these questions, it might be time to talk to an industry consultant who can provide you with some solid solutions. When the car is not running correctly, we take it to a mechanic. If we have a legal question, we call our attorney; a tax issue, our accountant. It only makes sense that when our self-storage business needs a boost, we consult an industry professional.
When doing what you have always done is just not enough anymore, a fresh initiative may be just what you need. Sometimes a conversation, site assessment, audit or market review from an unbiased party can jumpstart your business with realistic expectations and a plan of action.
Perhaps you enjoy the self-storage business but no longer want to oversee your store’s day-to-day operation. If self-storage is just one of your business ventures, you may find the demands on your time and attention have shifted. Or maybe you want to spend more time on other activities and pastimes.
Employing a management company whose sole focus is self-storage will enable you to spend your time and attention where you want or need it without your business suffering. The cost can also be minimal, if you consider the value of your own time and effort. Management companies generally charge between 5 percent and 10 percent of a facility’s gross revenue. However, the increase in results—higher occupancy, employee training, advertising programs—usually recovers this additional cost many times over.
Having your operations assessed or run by a professional can offer a broader range of new ideas, and steer you away from mistakes toward solutions that are right for your business. Sometimes, a few minor tweaks are all you need for increased success.
With a fresh perspective, a workable plan in place and a professional partner on your team, you can leap ahead of the competition with more money in your pocket and more time on your hands without losing anything in the process. Isn’t that what attracted you to the self-storage industry in the first place?
Linnea Appleby is president of Sarasota, Fla.-based PDQ Management Solutions Inc., which provides full-service facility management, consulting, startup, auditing, management and training services. For more information, call 941.377.3151; visit www.pdqmanagementsolutions.com.