Industry Specific Articles

SELF-STORAGE MARKETING ARTICLES:

01: SELF-STORAGE  

“A lot of the expansion we experienced as an industry was people choosing to store,” Litton told me. A Self Storage Association study showed that, by 2007, the once-quintessential client — the family in the middle of a move, using storage to solve a short-term, logistical problem — had lost its majority. Fifty percent of renters were now simply storing what wouldn’t fit in their homes — even though the size of the average American house had almost doubled in the previous 50 years, to 2,300 square feet”.
(click here for full article)

02: SELF-STORAGE SUCCESS: USING FACILITY-SPECIFIC DATA TO FIND
          YOUR TARGET MARKET

“The success of your self-storage business is dependent on cash flow, which comes from customers in your target market. Therefore, your marketing should always be about your prospects and never about your facility. Focusing on your facility is one of the biggest mistakes you can make in self-storage marketing. Your potential customers don’t care if you have the equivalent of the Taj Mahal.” (click here for full article)

03: DOES DIRECT MAIL WORK FOR THE SELF-STORAGE MARKET?

This occurred today; a gentleman came in to rent a unit and told us about this nice postcard that he received from us “quite awhile back.” The nice postcard mailing he was referring to was one we sent out the summer of 2006!

We did the mailing to owner occupied dwellings within our community. We mailed once, waited a few months then repeated the mailing to the same addresses. We mailed out to 5,000 pieces two times. Yes, the piece was a bit costly to produce, as we went for a really nice finished product, with a slight touch of humor, but nice enough to hang on to for many people. We used the bulk mail permit to save some money.

Rentals from the mailing were slow at first but with our discount noted on the card, it was easy to see how many responses we received. We did make enough of a ROI to pay for the mailing over the first 3-4 months after they went out. And they’re still paying off three plus years later! We’ll do it again if need be.

Gina 6k
CochraneStorage dot com
Morgan Hill, California
http://www.selfstoragetalk.com/marketing/1855-do-direct-mail-campaigns-work.html

04: SELF STORAGE INDUSTRY – FACT SHEET

  • At year-end 1984 there were 6,601 facilities with 289.7 million square feet (26.9 million square meters) of rentable self storage in the U.S. At year end 2008, there are 51,250 “primary” self storage facilities representing 2.35 billion square feet — an increase of more than 2.0 billion square feet
  • Nationally, at year-end 2008 primary self storage facilities employed approximately 160,000 persons, or an average of 3.1 employees per facility.
  • The average (mean) size of a “primary” self storage facility in the US is approximately 45,800 square feet.
  • The top-5 self storage companies, including the 4 public companies (Public Storage, Extra Space, Sovran and U-Store-It REITS – Real Estate Investment Trusts) plus U-Haul (a public company/ non-REIT), own and operate some 4,630 self storage facilities, or 9.0% of all primary facilities.
  • There are another 30,230 (non-Top-5) companies that own and operate the remaining 46,620 “primary” self storage facilities (an industry-wide average of 1.5 “primary” facilities per non-Top-5 company.
  • An important subset of that total: there are some 27,650 small business entrepreneurs (90% of all self storage companies) who own and operate just one “primary” self storage facility.
  • There is 7.4 sq.ft. of self storage space for every man, woman and child in the nation; thus, it is physically possible that every American could stand – all at the same time – under the total canopy of self storage roofing.
  • More than 700,000 self storage units nationwide are rented to military personnel (4% of all units); however, in communities adjacent to domestic US military bases military occupancy can be from 20%-95% of all rented units.
  • 83.9 percent of all US counties (or 2,634 out of 3,141) have at least one “primary” self storage facility.