335. How to Increase Revenue in Self Storage Investing (Easier Than You Think)
Is your self storage business bleeding money? Most facilities are.
For every investor who’s actually building wealth with self storage, there’s another investor down the road who checks in once a month or neglects their property entirely. And if you’re acquiring one of these facilities, you have a unique opportunity to improve it on day one.
Unlike investing in the stock market, where the business’s performance is beyond your control, self storage has dozens of levers you can pull to master operations, increase revenue, and ultimately, make more money.
In this episode, Conner and George get into the weeds of running a profitable self storage business. We cover everything from hiring the right employees and leveraging the latest technology to fine-tuning standard operating procedures (SOPs) and implementing checks and balances that will prevent things from slipping through the cracks.
These seemingly “small” adjustments can have a profound impact on your bottom line. And when you start viewing your self storage facility as both an investment and a business, that’s when things really start to get fun.
What you’ll learn in today’s show:
- How to run your self storage business like a pro (and make more money)
- Practical ways to improve self storage operations and increase revenue
- Building out systems and processes that help streamline mundane tasks
- The essential checklist for staying on top of property maintenance
- Why “small” adjustments often have an enormous impact on cap rates
- The most common mistakes that “bad” self storage investors make
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Storelocal - https://www.storelocal.com/
How to Win Friends and Influence People - https://www.amazon.com/How-Win-Friends-Influence-People/dp/0671027034
