Scott Meyers Articles

Self Serve Kiosks - Click To Read Article
To compete in today’s economic environment, many self-storage operators are turning to technology to lure customers to their facilities and provide superior service once they sign on the dotted line. Industry studies show the increasing usage of technology in facilities of all ages. Self-storage operators are employing the Internet for marketing, rental payments and online reservations. Facilities are benefiting from computer-management software, surveillance cameras accessible over the Internet, and digital video recorders.

Opportunities in Records Storage - Click To Read Article
Records storage and management is becoming a very popular ancillary service in the Self Storage Business. Many operators are discovering the benefit to their existing business of adding Records Management. Although not a new concept, it is growing in popularity as our industry looks to draw a broader customer base and generate additional revenue streams, thereby, lowering overall risk.

Investment Opportunities in Self Storage - Click To Read Article
Like all other real estate investments, self storage shares the same attractive qualities as residential rentals, apartments, retail strip centers, office buildings, and industrial properties. Those include leverage (borrowed money), tax advantages, passive income, personal control (being your own boss), and appreciation. However, self storage offers a number of benefits that make it such an attractive investment.

Recession Proof Real Estate - Click To Read Article
They’re often called recession-proof – steady investments that are inexpensive and easy to maintain with consistent profit margins. Not to mention, they’re one area of real estate that seems mostly unaffected, if not helped, by current rough market conditions. They’re storage units and people always need them. And all across the country, with a growing population that provides a constant supply of people in transit and in need of storage, they’re shooting up everywhere. Storage facilities require relatively low building and management costs.

Baby Boomers Creating Huge Demand for Self Storage - Click To Read Article
Most U.S. businesses including Self Storage owners continue to market to the powerful Baby Boomer generation, but generations X and Y should not be ignored. As the Baby Boomers near retirement, Generation X workers are establishing themselves in careers and starting families. In the meantime, Generation Y is graduating from college and entering the job market.

Myths and Investment Opportunities in Self Storage - Click To Read Article
Like all other real estate investments, self storage shares the same attractive qualities as residential rentals, apartments, retail strip centers, office buildings, and industrial properties. Those include leverage (borrowed money), tax advantages, passive income, personal control (being your own boss), and appreciation. However, self storage offers a number of benefits that make it such an attractive investment

My Five Principles to Success in Self Storage (or any business!) - Click To Read Article
The central focus of my company is to arm the self-storage investor with the specific tools necessary to identify potential acquisition candidates, to acquire and manage those facilities once they have identified them, to implement sound techniques for creating value, and finally, to capture all of that value through various exit strategies. The process by which all of this can be accomplished rests on five keys that I feel are crucial to success. These keys do not deal with the mechanical processes involved in buying and selling self storage facilities, but are grounded in principles that are fundamental to life itself. These laws deal with the human psyche and govern our thoughts, which in turn, direct our actions. The failure to understand these keys, which have proven to provide the foundation for success, continually result in ma

How to Reduce Your Self Storage Customer Acquisition Costs - Click To Read Article
Think about the cost of acquiring this customer. What if it could cost less? What if it could lower your cost of acquisition by 20%? Think about how much money you spend on advertising. Yellow pages, magazines, newspapers, web, etc. Do you know the bottom line that each one of your mediums is bringing you? Do you know which is performing the best?

Financing Your Self Storage Facility - Click To Read Article
Most types of investments won’t allow the use of high leverage using the securities themselves as collateral. This makes real estate investing somewhat unique in its use of financing. The use of leverage in real estate investments is a proven method to accelerate returns and create wealth. But one must be careful not to over-leverage. As we examine a few of the various types and sources of financing available for self storage facilities, I will also point out the dangers that can result from over-leverage and pitfalls of various financing structures.

How to Create a Self Storage Business Plan - Click To Read Article
Now for many people, the thought of creating a business plan is akin to the fear of public speaking. However, it does not have to be such an unpleasant task, especially since we already have the information. Our personal financial statement, the project due diligence and the market analysis comprise just about all of the information needed. All we need to do is to organize this information into a coherent document. Our business plan is an opportunity to present ourselves and the deal in the best possible light. It is designed to give the lender an in-depth look at yourself as a borrower including your past successes, the reasons why this project is so strong, and the reasons it will succeed in this market. This will all be supported by facts from your research and due diligence.

Introduction to Self Storage Development - Click To Read Article
Self storage has seen some dramatic changes over the last few decades it has been in existence, especially in the last 15 years. In 1993, there were approximately 21,300 self storage facilities in the United States. Today, that number has more than doubled, with industry experts reporting roughly 60,000 facilities. Those facilities comprise more than 1.7 billion rentable square feet of storage space.

Introduction to Self Storage - Click To Read Article
Self Storage Association Definition: Self Storage facilities are real property designed and used for the purpose of renting or leasing individual storage spaces to tenants who are to have access to such space for the purpose of storing and removing personal property. They offer rental on a month-to-month basis of individual spaces where customers provide their own lock and have sole access to their space. Today’s typical storage facility may comprise several one or two-story buildings on two to 6 acres of land, or a multiple-story building, containing a carefully designed unit mix of spaces. The units typically range in size from 5X5 to 10X30 feet with 30,000 to 120,000 total rentable square feet of space.

The Future of Self Storage - Click To Read Article
As we look to the future of self storage, it’s very clear that the future looks bright. There are a few trends afoot backed by solid industry data that justify positive outlook on this high growth industry.

Records Storage - Click To Read Article
Records storage management has come a long way and much has changed in the business. Since its inception back in 1948, when Emmet J. Leahy opened Business Archives Center, the world’s first commercial record center, the industry has experienced tremendous growth.


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