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Sounds of Storage Podcast: Atomic Founders Share Tips for Sustained Performance in a Softening Self-Storage Market

After many months of record consumer demand and facility success, self-storage operators are starting to see slower rentals and softening rates in some markets. In this latest ISS podcast, Rick Beal and Magen Smith of Atomic Storage Group answer the question, “Should everybody panic?” They also share insight to current market conditions and tips for sustaining high performance.

June 9, 2023

It’s no secret that the pandemic created market conditions that were favorable for the self-storage industry. But after many months of record consumer demand and revenue, operators in some markets are starting to see a slowdown in rentals and a softening in unit rates. Inflation is also in play. These shifts warrant a suitable response from facility owners and managers, but panic isn’t it.

In this “Sounds of Storage” podcast, Inside Self-Storage (ISS) Contributing Editor Tony Jones speaks with Rick Beal and Magen Smith, co-founders of Atomic Storage Group, about the changes they’re seeing within the markets in which they do business and the adjustments they believe facility operators should make to ensure continued success. Listeners will get insight to current market conditions and where the industry is likely headed. You’ll also get advice for balancing increased costs with diminishing returns.

Beal is a regular speaker and panel expert at self-storage events, providing his perspective on industry investing and operation. His expertise includes business and management consulting, project management, marketing, and pricing strategies. In addition to her role at Atomic, which includes running its development division, Smith is owner of Magen Smith CPA, an outsourced accounting department for storage operators. She’s also a frequent speaker at industry events and the author of many related articles.

Rick Beal, Atomic Storage Group

 Magen Smith, Atomic Storage Group

Founded in 2019, Atomic is a third-party management company that also offers facility auditing, feasibility and consulting services. Its operating portfolio of 65 facilities across 20 states comprises more than 2.7 million rentable square feet.

Duration: 7 minutes, 54 seconds

To learn more, access the hundreds of free resources on our Management and Operation and Market Conditions topic pages. For additional insight, browse the related products in the Day-to-Day Management, Marketing and Revenue Management categories of the ISS Store. To hear additional installments in the “Sounds of Storage” series, visit the ISS podcasts page.

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