Storage Authority LLC, which operates self-storage facilities in Connecticut and offers franchise opportunities, has launched a match program designed to partner developers and investors who are interested in joining the company as a franchisee but lacking the equity to qualify for financing on their own. The program has launched in Texas, with plans to be available nationwide this summer, according to a company press release.
The program is geared toward individuals who wish to enter the self-storage industry and desire a 50-50 partnership. To qualify, parties must have a minimum of $200,000 in cash equity to invest in a Storage Authority franchise, the release stated.
Applicants must complete a review of Storage Authority’s platforms and systems, and fill out a one-page questionnaire to identify “geographical limitations and other basic information a potential partner would need,” company officials said.
Earlier this month, the company announced it had added two franchise locations to its roster and was planning a third corporate asset. The projects are in various stages of development in Florida, Pennsylvania and Texas.
Co-founded by Marc Goodin and Scott House, Storage Authority launched its franchise model in 2015, offering existing self-storage owners and those looking to enter the industry the chance to build a business under the brand’s operational framework. The company also offers consulting services and facility-manager training.
Storage Authority operates two self-storage facilities in Connecticut. It lists Florida, New Jersey, New York and Texas on its website as sites for future locations.