Fertitta was asked about the influence of celebrity chefs in the restaurant business. He responded, that while they have done a good job of focusing customers' attention on great food, in many cases, they have forced their personality on their customers at the expense of hospitality.
I believe that same service paradox can creep into any industry when we become more attached to technology, than people.
So, what does that have to do with storage? Everything, if we accept the premise that each of our customers are experiencing some degree of stress when they lease a space.
Just like those chefs, we can go astray if we fall prey to our “great ideas”.
"One of the best examples I can think of, is when I visited one of the largest operators (at that time) that had placed large expensive banners proclaiming that "We Sell Boxes" inside of their buildings. You don’t have to be a genius to realize that the most likely reason an existing customer might want to buy boxes is to move out. I’m sure that someone was convinced that their revenue would skyrocket from this great idea. I’m not so sure that it wasn’t the guy selling the banners."
And, while we are on the topic of signs, do you honestly believe that negative signage changes human behavior? “STOP! If you don’t pay your rent you will be denied access.” Well that’s impressive! Perhaps, just perhaps, that topic should have been covered during the rental process. But what’s worse is that you have posted a negative sign in front of every prospect or customer.
Don’t forget the hospitality.
Pros and Cons of Self Storage SBA Loans vs. Traditional Loans
Decide wisely between SBA and traditional loans for your self-storage business. SBA offers lower down payments, but traditional loans provide lender reliability. Make informed investment choices for your storage facility.