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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
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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
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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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