When a smart investor notices a mini self storage for sale sign, they jump at the opportunity to purchase the business. Buying a self storage unit, may be a complicated matter at times; however the rewards that are potentially available make the purchase well worth the effort. These rewards include the relative ease of ownership. Compared to other business opportunities, a self storage business is a much easier commercial entity to manage and run. Other rewards include low maintenance costs, a popular demand for the service offered, and low labor costs. The most important reason that many investors choose to invest in these projects is the great earning potential of these properties offer. Given all the potential upside to owning and investing in a mini storage facility, it is no wonder that smart investors jump at the prospect.
When questioned most investors and business owners site ease of ownership as the second most important reason for owning one business over another. The self storage industry is recognized as one of the easiest commercial entities to manage. After all, the main responsibility of the proprietor is to guarantee the safety of the items stored on his or her property. Lights, some cameras, a fence, and individual storage unit locks can pretty much assure the security of the property. These may have a high initial cost when they are installed, but have little to no recurring costs. Unlike other business, self storage units do not require an expensive or confusing inventory. You are after all, renting space not selling cloths or cooking meals.
Because of the nature of storage units, there is also very little maintenance costs or labor costs associated with the property. Maintenance costs are costs associated with the day to day upkeep of the property. This could include repairs associated with the individual units, replacement of burnt out lights, or any number of other things that may break. These costs are traditionally extremely low for most storage facilities. Labor costs are related to the amount of money a proprietor spends on employees. Again, these units traditionally have very low labor costs, with many facilities only employing one full time employee to manage the office on a day to day basis.
Let's face it, while all the other benefits listed above may be taken into consideration when buying a commercial property, the most important thing investors consider is the estimated profit earning potential of the business. This figure is the predicted amount of money an investor thinks the property will net. Because of the low recurring costs associated with these businesses (both labor, maintenance, and otherwise), the popular demand for the services offered (in today's consumer world people a buying more things than they can store at home), and relative ease of ownership, these commercial opportunities offer a very high earning potential.
This earning potential is often times only limited by the individual units that are available for rent. This, more than any other reason, is why when an investor notices a mini self storage for sale sign; he or she jumps at the opportunity.
Warehouses Mini Self Storage
Imagine showing up to your self-storage facility having thousands of eager tenants waiting through the cold night and fighting just to pay you money. In fact, several of these "tenants to be" are so eager to pay you money for your space that they've physically beaten a few people who were ahead of them in line?
Today, November 17th 2006, Sony released their new gaming console, the PlayStation 3 (PS3).
So far, one person has been shot and is hospitalized?
Two Wal-Mart stores shut completely down due to unruly crowds?
One 22 year old from Seattle was physically mugged in the parking lot of a Best Buy when somebody tried to steal his new PS3. His tooth was knocked through his lip and had to get stitches. When asked if it was worth it, his response?
You guessed it, "DEFINITELY!"
Not all aspiring PS3 owners were struck with violence. Many turned the late night waiting into tailgate parties complete with music and finger foods.
There are many marketing lessons to be learned from today's madness and I won't cover all of them. But, I want to make a point that will make you a lot of money if you really grasp it?
You see, Sony wasn't offering anything for free. They weren't offering a cure for cancer or the solution to world hunger. They were offering a video game console that sells for $500-$600.
What's even more amazing is the demographic for these things?
$500-$600 makes up a significant amount of their monthly income. Yet they are still willing to get their teeth knocked out to get one!
Sony has made their offer to THEIR market so irresistible that they are willing to physically injure themselves and take food off their table or miss their monthly rent to get one.
So, the question becomes, how irresistible is your offer?
What can you do to make it more irresistible?
Now, I'm not suggesting that any self-storage facility in the world can create the same demand that Sony has. We're talking apples and oranges here. However, I am saying that focusing on making your offer better, will exponentially make your self storage marketing much more effective and easy to create. The first step to accomplishing this is to study YOUR target market and ask yourself what would make your offer better and more acceptable to them. In Self Storage, this can be a little more difficult, but it's definitley possible.
Both Allan Smithz & Derek Naylor are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Allan Smithz has sinced written about articles on various topics from Travel Insurance, Franchise and Family. Great Investment Oportunities available in Mini Self Storage for sal. Allan Smithz's top article generates over 9900 views. Bookmark Allan Smithz to your Favourites.
Derek Naylor has sinced written about articles on various topics from Home Management, Brain and Heart Conditions. Derek M. Naylor is the President of Storage Marketing Solutions (SMS). SMS has created, and proven many turn-key marketing solutions for the self-storage industry. For a complimentary marketing strategy session, call SMS at 800.941.4805 or visit. Derek Naylor's top article generates over 6600 views. Bookmark Derek Naylor to your Favourites.
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