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Can niche markets like RV and boat storage be the game-changer your business needs?

In this episode, Scott chats with Gary Edmonds, a seasoned storage manager, about his journey from a commercial lender to a thriving storage facility owner and third-party manager.

Gary shares his insights on managing facilities efficiently, the importance of meeting customer demands 24/7, and the evolving role of technology in the industry.

They also discuss the potential in niche markets like RV and boat storage, and the critical importance of constant attention to facility operations.

WHAT TO LISTEN FOR
03:57 - From Banker to Storage Boss
06:22 - Mastering Remote Management
09:32 - Expansion Strategies
28:38 - Niche Markets Explored

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GUEST: GARY EDMONDS
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Ever wondered how to turn a sleepy self-storage facility into a bustling profit powerhouse?

Unlock the hidden potential of self-storage with the expert insights from Peter Smyth on the Self-Storage Podcast. Scott and Peter explore the nuances of tailoring management strategies to individual needs, enhancing customer experience, and sustaining growth in a challenging economic landscape.

Peter discusses the competitive edge and strategic advantages of White Label Storage management, emphasizing how to transform overlooked or mismanaged facilities into profitable ventures.

Through real-world case studies, he illustrates the importance of leveraging technology, effective revenue management, and customized services to optimize operations.

WHAT TO LISTEN FOR
00:58 - Creating a White Label Storage Brand
10:48 - Revenue Management and Cost Reduction Strategies
15:17 - Logical Pricing Parameters
19:15 - Balancing Quality and Cost Reduction

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GUEST: PETER SMYTH
Peter’s LinkedIn | White Label Storage LinkedIn | X | Facebook |

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It was all about cold calls in the early days.

Rachel Parham of Noah's Ark Development remembers her dad making call after call to manage a portfolio of over 400 facilities.

Nothing wrong with good, honest, nose to the grindstone hard work. And it paid off. Rachel emphasizes the importance of due diligence, market studies, and experienced partnerships while discussing the challenges and opportunities in today's market.

WHAT TO LISTEN FOR:
05:14 - A Family Affair
15:37 - Strategic Site Selection
18:27 - Adapting to Market Demands
24:00 - The Power of Technology

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GUEST: RACHEL PARHAM | President Noah’s Ark Development
Website | Facebook | Learn Self Storage Videos | Blog | Invest in Noah’s Ark

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Tom Dunkel, Chief Investment Officer at Belrose Storage Group, discusses the increasing demand for boat and RV storage in the US.

He explains that the production of RVs and boats is outpacing the creation of storage spaces, with homeowners’ associations and municipalities often restricting parking in residential areas. Dunkel suggests that this demand, coupled with the low maintenance and high margins of such facilities, makes boat and RV storage an attractive investment.

However, he acknowledges that raising capital for these projects can be challenging due to investor unfamiliarity with the asset class and current economic uncertainties.

Despite these challenges, Dunkel remains optimistic about the future of boat and RV storage, seeing it as a long-term growth opportunity.

WHAT TO LISTEN FOR
13:04 Growing Demand for Boat and RV Storage
15:17 Operational Ease
16:18 Future Growth Prospects
28:14 Challenges in Raising Capital

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This is an episode first published in September 2023. It’s one of our most popular.

In this episode Scott discusses the current state of the Self-Storage industry and why it’s attracting new investors. With other asset classes experiencing a downturn, Self-Storage remains a lucrative investment option.

Scott explains how self-storage thrives during economic downturns as businesses and individuals downsize, leading to increased demand and rental rates. He also highlights the benefits of investing in self-storage during a recession and the opportunities it presents. This episode provides valuable insights for those interested in entering the self-storage market or looking for alternative investment options.

WHAT TO LISTEN FOR
1:25 Why Self-Storage during economic downturns
8:26 A solid plan for getting started in Self-Storage
10:14 The vital importance of writing a business plan
23:00 How to really understand cashflow

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GUEST: Doug Downs
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What are the banks looking for right now when it comes to loans?

In this episode, Scott warms up the conversation with proven strategies for securing self-storage loans amidst a challenging economic climate.

He explains the evolving lending environment, the criteria lenders use to assess loan applications, and provides actionable strategies for presenting strong loan requests.

Scott emphasizes the importance of having a solid business plan, understanding market conditions, and shopping loan requests to multiple lenders.

WHAT TO LISTEN FOR
05:46 - Qualifying for a Loan: Key Criteria
10:58 - Creating a Compelling Business Plan
18:38 - Conventional Loans vs. SBA Loans
27:37 - Improving Profitability and Operations

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Meet the software turning self-storage ads into occupancy boosters!

In this episode, Scott interviews Jason Zickler, co-founder of Adverank, about how their specialized software is changing paid advertising for self-storage operators.

Jason explains how Adverank's innovative algorithm provides precise budget recommendations to maximize occupancy without overspending.

The discussion includes a live demo of the software, showcasing its real-time data integration with property management systems and Google Ads, and highlights successful case studies, including a remarkable turnaround for a struggling facility.

Listen For:
01:34 - Adverank Overview
14:12 - Adverank Demo
23:12 - PPC Ad Shortfall Explained
41:04 - Real-World Success Stories

CONNECT WITH GUEST: JASON ZICKLER
Website | Email | LinkedIn | 317-698-1309

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Syndicating self-storage deals just got trickier – here’s how to stay ahead.

In this episode, Scott dives into the evolving landscape of the self-storage industry, emphasizing the challenges brought by rising interest rates, construction costs, and stricter lending practices.

Scott outlines nine key fee structures in syndication, offering practical advice on balancing compensation and investor satisfaction.

He provides valuable insights on how syndicators can adapt, including the importance of maintaining investor confidence and effectively managing fees.

Listen For:
03:32 - Fee Structures Explained
19:31 - Competition and Returns
21:05 - Balancing Fees and Incentives
22:32 - Handling Investor Pressure

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