Maximizing Self Storage For Sale

18
Apr

Maximizing Self Storage For Sale

Posted by admin

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Self storage for sale is as much a science as it is an art. While everybody would like to see 100 occupancy to maximize rentals, the results are more often than not so. Ensuring the best possible utilization requires differential pricing strategies as also a robust prospect base. Some of the common sales strategies include

Relationship Management – The cost of keeping an existing customer is a fraction of the total cost of acquiring and servicing a new customer. Try and ensure that a large proportion of your sales are repeat business. Happy customers are always your best marketing engine as they give a positive word of mouth advertisement to your venture. It is therefore important to treat every customer as if they were an advertisement for your business. Small tokens, gifts and even seasonal discounts when you can afford them build goodwill at negligible cost to you.

Pricing – Many companies make the mistake of opting for standard pricing when doing self storage for sale . The only problem being that they do not work in the opportunity costs of keeping it empty till they find the often elusive buyer at the standard price. A back of the envelope calculation will show you that it is often wiser to rent out sooner at a discount than wait for a higher bid. Hotels work on the same principle. You can often saunter into a 7 star property and negotiate a great deal specially for a one night stay. The duty manager rationale being that something is better than nothing since the room is the hotels most consumable asset.

Customer Records – Self storage for sale also relies on a ready database of contacts that you can tap into when you foresee a space becoming vacant. Besides names and contact details, some detail on the requirements help you to focus on a smaller list and make the sales process more customized not to mention cost efficient. You can use the records for relationship management by sending season greetings or discounted offers by mail. If ambitious, you can even launch a loyalty program offering bigger discounts to regulars to reward patronage.

Differentiating Value Proposition – Given the highly commoditized market that exists today, it always works to have some kind of add-on or wow factor that can clinch the deal in your favor. Without that unique benefit, you are leaving the customer decision to chance and mainly location factors. It would be prudent to map competition offering by making a simple call. See if there are any gaps in service that you can highlight. Alternatively try to bundle a low value service for free like packing or transportation if feasible when trying to close the self storage for sale . This will give the customer a clear reason to choose you.

Develop A Self Storage for Sale Pitch – As soon as you expand and hire a team of people, the sales messaging that came so easily to you and your wife starts getting diluted. Ensure that all the frontline staff has a consistent sales message so that your brand develops a unique identity. Have mock sales sessions where they can practice answering questions and have a chance to internalize your carefully worked out value propositions.

While sales strategies and creative marketing is always a good idea, it is also important to ensure that the facilities are well maintained with the necessary security precautions and lighting. Hire friendly and helpful staff which will be able to deal with customer inquiries and complaints in a suitable fashion. Try to upgrade service offerings every now and then to keep your customers happy. If you do not innovate, someone else will. If you keep in mind these basic thumb rules, there is no reason why you should not be successful in offering self storage for sale .

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Self Storage Owners: http://www.selfstorageowner.com/

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