Self-Storage Talk: A Great Place to Discuss Diversifying
You've heard the cliches: “Don't put all your eggs in one basket.” “A one-player team never wins championships.” "Better to be pretty good at a lot of things than really good at one thing." Though trite, these sayings have a clear message: diversify. For self-storage businesses to stay competitive, they must look beyond the traditional revenue model of simply renting space.
Fortunately, some of the most creative and savvy people in the industry flock to Self-Storage Talk, the official online forum for Inside Self-Storage, to collaborate. Here, these people often begin discussions about new ways to generate revenue in the Ancillaries and Add-On Profit Centers section. Some forums in this section include Boat, RV & Vehicle Storage, Rental/Moving Trucks, Records Storage, Mobile Storage, Wine Storage, Retail Sales, Cell-Tower Leases and Storage Condos
If you're considering a foray into one of these ancillary businesses, you can definitely find someone on SST who has already "taken the leap" and can share with you their successes and challenges. For example, SST member Seminoles started this thread on ice machines, which have been a successful moneymaker for his facility. He shares that the machine vends, on average, 125 bags of ice every day at the price of $2 a bag. Not surprising, other posters have chimed in to applaud this great idea. They may have even taken the idea for themselves and implemented it at their facilities by now.
Similarly, if you're an ancillary products pioneer, you can share the details of your venture with others in hopes that maybe the trend will catch on. Suddenly, the industry is a little bit stronger thanks to your contribution.
So, what are you waiting for? Register for SST for free and start participating in this section of the forum. The options for boosting your profit are numerous. It's time to start tapping into them.
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