Every business owner is guilty of getting comfortable in a routine, especially when things are going well. But how much money is being left on the table? Make sure you’re not selling yourself short and missing out on millions of dollars.
Are you advertising?
You may have the best facility in the country, but do people know you’re there? If you’re not advertising your facility, you could be missing out on tenants who are looking for you. Make sure your advertising efforts are effective both in cost and return.
Do you have a truck rental program?
The best advertising tool a storage facility can have is a truck, because it doubles as a customer service tool! Every time your customer drives your branded truck around town, they’re advertising for you to other potential tenants. You can earn more revenue by charging for use of the truck, offering it as a move-in incentive, selling ad space on the back door, or charging other businesses in town to rent it for their events. Don’t let a money making opportunity go to waste!
Do you have Tenant Protection?
Tenant Protection not only attracts customers by offering peace of mind, but also generates a lot more revenue for the facility. Most owners and operators mandate Tenant Protection if the tenant doesn’t have insurance to cover their goods. Just by charging an extra five to ten dollars, you can earn more profit than you thought possible.
Are you accessible?
The biggest mistake a self-storage owner can make is having 100% occupancy. If you’re sold out, you’re not charging enough for your service. You’re leaving a lot of money on the table and not adjusting to the demand of the market. You don’t have to drastically change your prices, but adjusting with the market is smarter and more profitable. Make sure you always have room for new clients.
Questions on how to make more money? Call 800-645-9949 today!