Simply put; self storage franchising will provide opportunities and benefits that most owners would never obtain on their own. For most busy professionals who want to run their own self storage business and assure its success, their only choice will be a franchise.
The main goal of self storage franchise is to:
This is accomplished by providing the systems for 3 main platforms: Development, Operations, Sales and Marketing.
For many years there were only two choices; either do it on your own or have a management company run your facility. Nowadays there is a 3rd and better choice for many: Self Storage Franchise.
With a Self Storage Franchise you get the best of both worlds, where you are in business for yourself but not by yourself.
How will you choose? A quick look at each of your options and you will often be able to determine which route is best for you.
Do it on your own. Unless you have a background in development, have significant self storage experience, and are prepared to work nearly full time, this option is very difficult and often simply not feasible for the busy professional. If you do not have the experience and time you could easily hit a land mine or two or even several which makes this option too risky for most.
Have a management company run your self storage. Many owners do this because they have zero time to manage their business. Many professional developers also do this as their end goal is to build and sell them. The main advantage of management companies is, they do everything for you and send you a check at the end of the month, while the disadvantage is it will be less profitable. It is certain that no one is going to watch your business as well as you.
Management companies act like an employment agent and treat your business more like a real estate investment instead of a premiere business, leaving significant profits on the table. Keep in mind, If you are going to use an SBA loan to significantly reduce the cash equity needed, you typically can’t use a management company since the SBA requires the owners to be in charge of the staff. This route also leaves you on your own with the significant tasks of finding the right parcel of land, and going through the design, approval and construction process.
By far Franchising is the most successful business model ever introduced to the business community. A new franchise opens every 8 minutes and franchises generate 2.3 trillion dollars a year in the US alone.
Did you know that 41 cents of every retail dollar in the US is spent at a Franchise? Franchising is the fabrication of many people's success; it has changed the lives and fortunes for many who may have never done it otherwise; it is clear that by joining a team, the economy of scale, support systems, experience, branding and training, leads to increased profits and other benefits that most would not have gotten on their own.
A Self Storage Franchise will combine your talents and efforts with their experience, systems and knowledge, training, sales and marketing, best management practices (BMP), leading strategies and much more. Thus providing the best choice for the busy professional looking for a lucrative second income and a huge retirement nest egg. A successful self- storage business (especially one from the ground up) does more than provide empty space. It requires attention to a host of specific details critical to its success such as finding land, land feasibility review, site plan designs, regulatory approvals, building designs, bidding, banking, construction, pre-opening preparations, staffing, training, operations, and finally sales and marketing. Only a few individuals possess all these skills and why a franchise is the best choice.
There is only one traditional self storage franchise in the US: Storage Authority. You can learn more about Storage Authority at their website www.StorageAuthorityFranchise.com and continue reading.
Why Should You Become A Storage Authority Franchise?
The answer is simple: We Understand Self Storage. We own and manage self Storages. We understand you and your business. We understand that together we can put more profits in your pockets, while You retain control of Your Business.
We present you with a unique and revolutionary concept that will empower you with resources that will not only place you on a level playing field with the REITS but will enable you to crush them because you retain 100% control of your facility! We know that with the right assistance, training, and support, no one can be as capable of running their own facility as well as you, the owner.
We understand that you will develop your self storage business with your own hard-earned money and your own sweat equity. We understand and fully appreciate that you enjoy owning and controlling your facility. We also understand that you may not have the development experience or the high tech – high touch self storage operational & sales experience and the focused marketing program to bring your business to its full potential and we are ready to be part of your team.
Marc Goodin is President of Storage Authority Franchising. He owns 3 self storages he designed, built and manages. He has been helping others in the self storage industry for over 25 years. He can be reached at marc@StorageAuthority.com or directly at 860-830-6764 to answer your franchising, development, marketing, sales and operations questions. His best selling self storage books are available at amazon.
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.