5 Easy, Effective Ways to Refresh Your Self-Storage Retail Store

When a person is gearing up to move, they need packing supplies … lots of them! Essentials include boxes, tape, bubble wrap, markers, labels, foam sheets and more. Self-storage operators often sell these things, not only to their renters but to anyone who needs them. It’s a great way to drive more traffic to your facility, create convenience for customers, generate ancillary revenue and increase the profitability of the business.

If your operation already includes a retail store, how does it look? Is it organized, well-stocked and enticing, or is it sad and drab? It’s understandable that it may get less of your attention than other aspects of your self-storage facility; but if you want it to succeed, it must attract customers! Let’s discuss the importance of maintaining and promoting this store, plus five easy, effective ways to keep it fresh.

A Strong First Impression

At a self-storage facility, the retail area is often part of the management office, which means it impacts a customer’s first impression of the business. Even if it isn’t a significant driver of revenue (though it should be!), its role in shaping a positive image is invaluable.

Imagine the contrast between a rundown dollar store and a high-end retailer, like an Apple Store. One has empty shelves, disorganized inventory, stained ceiling tiles, dimly lit hallways and dusty displays. The other is bright, clutter-free, clean, organized and well-maintained. Which is more comfortable? Which one feels safer? Which one would draw you in?

If your self-storage retail space is Apple-caliber, kudos to you! Most facility operators don’t devote that much time, effort and money to it, believing the revenue generated doesn’t justify the investment. What many don’t realize is there are five simple ways to improve this offering—and the income it produces.

1. Clean It

What message does a customer receive when they browse through your self-storage retail area and see dusty packaging, dirty floors or damaged product? They get a strong sense that it’s neglected and, therefore, must not offer much value. They may still rent a unit, but they might be a little less comfortable with the idea of their precious items being stored in a place that can’t even manage to take care of its own merchandise.

So, keep it clean! Dust the shelves and products, and scrub the floor. Remove any products that are scuffed, ripped or broken. Make sure the area is brightly lit and easy to navigate.

Also, signage should neat, professional and legible. Once signs start fading, cracking and peeling, replace them immediately. You might even consider adding digital signage, which is easy to read and allows for pricing to be changed instantaneously.

2. Organize It

If your self-storage merchandise isn’t well-organized or is missing clear prices, your customers may be confused and dissuaded from purchasing. Items should be grouped logically, in a way that flows naturally.

For example, a customer might know they need boxes and tape but may not remember that they also need a tape dispenser, plastic wrap, markers, foam roll, bubble wrap, etc. Make it easy for them to remember by how things are laid out. This way, what started out as a simple shopping trip for a few boxes turns into a much larger sale. This benefits the customer, who now has all they need to accomplish their task and has to make fewer stops, and your business because you’ll make more money!

Better yet, consider offering bundles of items, for example, a “mover’s starter kit” that includes a variety of box sizes, bubble wrap, tape and a Sharpie. You can also group various box sizes together at a small discount.

The best way to organize self-storage moving and packing supplies without losing too much space is to incorporate wall racks. Several industry vendors offer them as well as products in rack-compatible packaging.

3. Stock It

Empty self-storage retail shelves signal neglect and make it more difficult to sell the remaining products. Your customers will think, “If all these items are sold out, what’s wrong with the stuff that’s left over?” Make sure your facility has a good inventory-tracking system, so you know what your supply levels are on every item at any time. Routinely fulfill purchase orders and stay ahead of the demand. Many management-software programs can assist with this task through inventory tracking.

Typically, best-selling self-storage retail items are locks, boxes of all kinds, tape and dispensers, plastic or foam wrap, and tie-downs. But don’t be afraid to try something new such as mattress covers, dish-packing kits, box-cutters and labels. Periodically conduct a secret shop of your competitors to see what they’re offering. Also, ask your retail vendor what’s new or if they have any suggestions for products that could sell well in your store.

Pay attention to which products fly out the door and what seems to linger on the shelves, so you can adjust your purchases accordingly. Also, ask tenants for feedback on items they’d like to see in your self-storage retail area. Finally, shake up your offerings seasonally or reorganize your displays periodically to keep your displays looking new.

4: Price It

There are two philosophies to pricing self-storage retail items. In the first, you treat the store as a true profit center and see all customers as a captive audience, whether or not they rent a unit from you. Shoppers realize that buying from a one-stop shop is worth the convenience, regardless of price. This means you can charge more for your products than Home Depot or another local retailer. Your sales may not be as frequent or large, but your profit margin will be high.

If you adhere to the second philosophy, you believe your retail offering is purely an added benefit for your existing self-storage customers. You recognize that the bulk of your revenue comes from unit rentals, so instead of pushing profit margins, you offer discounted prices on packing materials to give tenants warm fuzzies about your business. If your average length of stay increases by even one month because your renters are satisfied, it’ll have a much bigger financial impact than a slightly higher markup on packing supplies.

Whichever approach you choose, price your retail inventory clearly and consistently. No one should ever have to hunt or ask an employee for the cost of an item. Update your pricing as the market requires.

5. Promote It

Another advantage to having a retail store at your self-storage facility is it can help you close unit rentals. If throwing in a few free boxes or a lock can seal the deal, do it! Similarly, offering specials on moving and packing supplies can bring people in the door. For example, it might be 50% off all moving materials when you rent a unit or free locks for all new rentals this month.

Put promotions on yard signs and banners in front of your facility: “Today only: 50% off all boxes!” This can lure people who might not be seeking storage right now but are in need of other products. They may purchase a few items and could even become regular retail customers. If they need self-storage someday, your site will be top-of-mind.

You also need to be an expert on your self-storage retail products. While your tenant knows they need boxes, they likely don’t know how many. This is where your knowledge comes into play. You can help them choose the correct items for their specific situation.

While retail sales may not be the main revenue driver at your self-storage business, they can still be a great profit center—but only if your store looks good! When kept clean, organized, well-stocked, properly priced, and promoted, moving and packing supplies can create additional traffic and serve as a valuable service for your customers.

Derek Walker is a principal of self-storage consulting firm Box Pro, which specializes in feasibility studies. He also develops and manages properties for Storage of America, which operates 25 facilities in five states. To reach him, call 801.839.5844 or email [email protected].