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Mini storage owners have long been regarded as smart and successful investors. The business of renting warehouses offers many advantages. The initial investment is reasonable – not as high as that in related investment areas like real estate and housing market. The overhead cost and operational costs are absolutely small. And the investor will get a steady stream of revenue. What more should an investment opportunity provide
However, things are not as rosy and gilt edged as it appears. The recent sub-prime crisis and the resultant financial meltdown have hit all the businesses and industries hard. The rental store unit business was also not spared. However, the impact of the economic recession is not as severe in this sector as it is in some other fields such as real estate and banking. Store room owners can take a sigh of relief however they cannot relax by any means. The economic crisis has not shown any clear signs of subsiding. Things have been going from bad to worse. There is no reason to believe that the situation will not deteriorate further. The following are some of the potential challenges and tips to survive the possible
tough times ahead.
The Franchisee Option
If mini storage owners is feeling the heat of recession and is not getting consistently good business, he or she should think about taking the franchisee option. Many large rental storehouse businesses provide franchisee options in places where they do not have store houses. These options can be availed by both individuals and businesses. This will allow a struggling small organization to ride on the goodwill and image of a large organization. The large organizations will also provide technical and management helps for improving the infrastructure and marketing aspects of small businesses.
Also, the franchisee option allows store place owners to provide many value-added services. If the organization does not have sophisticated climate control facility, it can refer the customer to the storehouses of another large company where climate control facility is available. Also, the franchisee can offer logistics facility for transportation needs in association with the large company.
Innovative Advertising And Marketing
Traditionally, the preferred mediums for advertising and marketing of rental storehouse units have been telephone directories and yellow pages. Many people still instantly take telephone directories when they want to locate a store unit. However, web-based marketing is also catching up. There are some web-based directories of storehouses. People owning such facilities can advertise on these online directories as well.
The advantage of the online directories is that they provide location-specific search options. An increasing number of people are finding that searching on the internet for storehouses is an easier option. Moreover, many storehouses have their own websites. A majority of these websites provide online reservation facility also. That means customers can not only search the internet for store house units in their locality, but also reserve store units through the internet. By setting up an interactive website, owners of small scale storing facilities can tap the potential of the internet as a marketing medium.
Better Customer Relations
The trust of the customer is the most vital ingredient for success in this business. So, improving customer relations is essential for increasing the business volume in these troubled times of financial crisis. A good, practical solution for bridging the gap in customer relations is to set up a call center facility. There are some professional agencies that provide efficient call center facility for mini storage owners . Choosing the service of these call center companies is an excellent option for connecting with the customers.
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Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.