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Taking Over a Self Storage Facility

Self storage management is a more advanced form of property management, but for storage facilities. Sterling can professionally manage every aspect of your business or could just provide you with consulting in the areas you feel your business is lacking. We help self-storage facilities thrive in any economy and in most locations across the country. Whether you need a company to manage your employees and tenants, a marketing manager or just some storage software implemented at your company, Sterling can help.

If you find yourself with the opportunity to buy or take over an already established self storage facility, you may have found a goldmine. Self storage facilities are very profitable businesses here in America. A self storage facility attracts business from all sorts of people and companies. A self storage unit can be used by:

  • A family transitioning from one home to another
  • Someone moving from a big home to a smaller home
  • A person with too much stuff and not enough space at home
  • A hobby junkie (toys, boats, art, etc)
  • A temporary business storage unit
  • A second closet to a business needing more space
  • Storage for things a spouse wants out the house
  • And many, many more (sometimes hard to believe) scenarios

Although we would like to say: if the opportunity presents itself then just jump on the offer and buy it. Before we could provide you with such advice, we would need more information regarding this potential buy. After all, the previous owner had to be giving up the facility for a reason, right? Yes, there’s a good possibility the owner has collected enough money over the years to retire and would like one final check to move to a beach house in the Caribbean, but it’s also possible that there is something wrong with the facility or business model. This is why you should hire a self storage consultant. A self storage consultant will help you get to the bottom of why this facility is for sale.

If it’s because the business wasn't successful, that doesn't mean the business doesn't have the potential to be successful. It could just be a matter of bad management, which is one of the reasons to hire a self storage manager. Bad management can be the difference between having a million dollar in profits or a quarter million in debt. If the previous manager was a bad manager, it’s possible he or she is selling it just to close in on his debt before it gets any worse. As mentioned above, bad management doesn't necessarily mean a bad facility or no potential.

We’ve helped many companies go from broke to money makers. We know exactly how to help self storage facilities turn their business around, and we can help you determine if your opportunity is really a hidden gem or something you should run far away from. We can examine the current owner’s business practices, research a company’s past, survey the community and so much more. Upon past research, we can do a market feasibility study to help you identify if the business can be successful future.

If you are considering buying a self storage facility and have questions regarding our studies and research, call 866-641-9016. We’ll answer all of your questions and back you up during this potential buy every step of the way.

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