The self storage industry has evolved considerably over the past 60 years. Although the name of the first self storage facility in the United States, A-1 U-Store-It-U-Lock-It-U-Carry-the-Key might still be apt, if somewhat lengthy, description for many companies in the industry, the extent to which self storage facilities are professionally managed is certainly greater now than 20 – 30 years ago. This is even more true over the last five years.
This white paper will guide you through the best and most direct high-level measures of financial performance, revenue, and profitability. At the same time, it will give you resources to decide what marketing metrics work best for you when it comes to operational pricing and execution.
Beginning the journey to create a meaningful and disciplined set of pricing metrics may seem daunting, but it’s important to start somewhere. Taking small steps is fine. If you don’t have the data or information you need to calculate or track certain key performance indicators, then just beginning to put in place the ability to capture the necessary data is an important first step.