Tips For Self Storage Owners To Increase Profits

Published: 19th February 2010
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If you are a self storage owner and are facing a slowdown in business, you are not alone. Several businesses are going through the same situation and therefore there is no point in cursing the recession. Instead, you should try to find out new ways to make your business profitable during these rough times.

Several self storage owners have stood strong against this financial and economic meltdown. The reason is that they devised and implemented the best business strategies in time. You can also do so and sustain yourself in such times. Here are some tips for you.

1.Profit is nothing but a difference between revenue and expenses. So, to increase profits, self storage owners need to increase revenues and decrease expenses. To accomplish this task, you have to increase your sales. There are various ways to increase occupancy. The first option available to a storage owner is to advertise his facility but using low cost advertising options. Some of the low cost advertising options are e-mail marketing, pay per click, banners, and pamphlets. This will help to make your self storage visible. Make sure that you have a simple and informative website that provides the correct information about your services. This is absolutely essential as customers like to do some research on the Internet before approaching the storehouse. The other method available to storage owners to increase occupancy is offering discounts. Instead of putting your units always on discounts, you should offer limited period discounts. This would make the impact of discount quite effective. Also, you should make sure that the prices of your units should be in line with other storehouses offering similar facilities in your area. These days, customers look for value in terms of money. Therefore, they opt for services that are cheap and best.

2.Self storage owners should keep the cost of running their storehouse low. There are various ways of doing so. Instead of spending money on frills, try to provide simple and basic facilities to your customers. Try to figure out the areas of unnecessary expenditure like wastage of electricity, non-productive employees, high-cost low-reward advertising, delinquent payments, and so forth. The workforce should be restructured to improve employee productivity. These small steps will help you to save a lot of money.

3.When business is low, self storage owners generally do not pay attention to a very important area that is customer service. This should be avoided at all costs. Otherwise, you will lose your loyal customers too. You should try to win the hearts of your new as well as existing customers with excellent customer service. You do not have to spend a lot of money in serving your customers in the best possible manner. Self storage owners should keep in contact with their customers through e-mails. Send them greetings on special occasions like birthdays, anniversaries, and Christmas. You should also keep them informed about the discounts and schemes offered by you from time to time. If you are there for your customers with warm smile and helping hands, they will feel good.

A Self Storage Owner should keep in contact with his customers and take care of their needs to keep them happy.

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