Industry News

While it is important for members of the self storage industry to engage in some form of traditional advertising it can also be very beneficial to think outside of the box. The most common forms of ‘outside of the box’ advertising is to hold a contest of some kind or work with a local charity. Everyone likes to win something and appreciates it when businesses help the community. A self storage company in the UK has decided to take a different step outside of the box to promote the opening of their new newest facility. They are actually...

On September 30, Brett Cygan met with city officials in Edwardsville, Illinois to apply for a special use permit to build a self storage facility on his property. He had completed the required documentation for a concept review and addressed the concerns of the Zoning Board. Cygan wants to build three buildings that will have a total of approximately 200 units. Each building would be metal with a brick façade on the ends. He previously intended to have an entrance into the parking lot from Marine Road. However, he told the officials he...

In the morning hours on April 4, a five-alarm fire broke out at the Kiwi Self Storage in Kilbirnie, Wellington, New Zealand. More than 30 firefighters battled the fire in the two-story 750-unit building. It took them until evening to contain the fire and until the next morning to completely extinguish it. Within a week, police arrested a man and charged him with arson. The fire destroyed many valuable possessions. Alex Funke, cinematographer for the Lord of the Rings movies, lost his Academy Awards for Best Visual Effects on The Lord of...

Self storage can help people when their homes are a cluttered mess, offices need to cut warehousing costs, or a small business needs space. It can’t, however, save someone’s life. Big Yellow Self Storage, one of the premier self storage facilities in the U.K., has decided to help an organization that can: Millie’s Trust. Some companies like to promote a charity so that efforts can be focused and a bigger impact can be made. Big Yellow has named Millie’s Trust their charity of the year. Founded in December 2012, Millie’s Trust...

As the self storage industry continues to perform well, more and more investors will look to enter the market or expand their current holdings. Some are taking their time and being cautious while others are acting in a much more aggressive manner. One Florida-based company, iStorage, certainly qualifies as the latter. Recently iStorage worked with a commercial real estate financial advisor and self storage specialist, the BSC Group, to recapitalize their debt. What BSC essentially did was replace iStorage’s existing loans with a $50...

Many universities have entrepreneurship courses that encourage students to create an idea for a business and then do a pilot test to see if it is viable. At the University of Michigan, an innovative self storage business model was borne from just such a program. Brett Mecham and Mikey Shen co-founded Vaultd, a startup that provides self storage for college students. Their goal is to take the “self” out of self storage. They use clever advertising that states that Vaultd is students’ “closet away from home.” Students...

Awards mean two things for self storage companies: They give recognition to companies for a job well done, and they help entice people looking for a self storage facility to walk through the door. A self storage company in the U.K., Access Self Storage, has decided to take a different approach to awards. They are still going to provide service that they hope tenants feel is award-worthy, but they are also going to give out awards to their business tenants. “Across the 53 Access stores nationwide, the judging panel will be looking for...

Do you remember the Aesop fable about the tortoise and the hare? During the race, the hare stopped to take a nap because he thought he had plenty of time to rest. However, the tortoise kept plodding along and made it to the finish line before the hare woke up. The moral of the fable was, “Slow and steady wins the race.” Red Dot Storage is following the principal exhibited by the tortoise. With careful forethought and planning, they are slowly and steadily adding to their portfolio. Yesterday, they added their 11th self storage facility...

On just about any given day, a report can be found online about a self storage facility being sold for hundreds of thousands, if not millions, of dollars. For those looking to invest, it has to look awful tempting to dive right in. The only problem may be not knowing exactly how to do so. Lucky for those curious investors, there are seminars like the one Self Storage Profits, Inc. is holding in Indianapolis from October 9–11. The company recently announced that it was adding another instructor to the event, Bob Cooper. Cooper is an operational...

Based in Austin, SpareFoot is one of the largest web marketing solutions for prospective self storage customers to find and reserve storage units online. Founded in 2008 by two then-UCLA students and entrepreneurs, SpareFoot bills itself as a “fun tech startup disrupting the traditional self storage industry.” They have become an Internet start-up success story. SpareFoot employees are passionate about their company and what they do. This passion spills over to supporting the Austin Startup Week, a five-day event from October...