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1 A Wise Investment “It’s the results”. 2 Who We Are  Portfolio headquartered in Grayson, KY.  Parent company portfolio size - 17 stores (YE2009) ◦

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Presentation on theme: "1 A Wise Investment “It’s the results”. 2 Who We Are  Portfolio headquartered in Grayson, KY.  Parent company portfolio size - 17 stores (YE2009) ◦"— Presentation transcript:

1 1 A Wise Investment “It’s the results”

2 2 Who We Are  Portfolio headquartered in Grayson, KY.  Parent company portfolio size - 17 stores (YE2009) ◦ Major markets served  Columbus, OH  Cincinnati, OH  Lexington, KY  Louisville, KY  26 years experience ◦ Development & Management

3 What We’ve Discovered 1. Management tools  SiteLink Web Edition  Contact Center  Web hosting and Internet Search Optimization 2. People Systems  Objective performance measurement  Incentive based pay 3. Measure results, make adjustments and re-measure  Audit, call management, data management

4 Management Tools  Site management system ◦ No longer on premise to determine site performance ◦ Dynamic ability to manage rates ◦ Reporting  Length of stay  Economic vs. Physical Occupancy ◦ Payment processing  Contact call center ◦ Captured >20,000 ‘missed’ calls ◦ 17.1% prospective tenants – 26% move-in ◦ Payment processing  Web hosting and Search Engine Optimization ◦ 1,900 / month unique visits ◦ SASTORAGE.COM – top 3 positions

5 People Systems  Average length of employment – 5 years  2 person management teams with a relief manager  40 / 30 hour employee combination.  Key personnel on Saturday  Structured hiring process 1.Locating good candidates 2.Multi-stage interview 3.Background checks 4.Orientation and training  Performance Measurement Performance Measurement  Weighted objective measurement looked at monthly, conducted quarterly

6 Markets and Marketing Price Setting Customer Specials and Incentives Internet (G5, eMove, Sparefoot) Yellow Pages Monthly Newsletters Direct Mail Referral Programs(50/50) Target Marketing Office Presentation Store Visibility Curb Appeal Telemarketing (?) Direct Sales Business Networks Cold calling Market Trends Demographics Appearance Competitive Features Market Pricing Distribution of Units Occupancy Rates Specials and Incentives Employee Evaluation Competitive Analysis New Construction MarketsMarketing & Advertising

7 Rev. 1a - Aug. 18, 20107 People Systems - Benefits  Starting Salary - $ per month  Bonus (see next slide)  Paid time off ◦ Vacation – 1 week, 2 weeks each additional year thereafter ◦ Sick days – 3  Gas Allowance - $50.00 per team per month  Health Insurance ◦ Company pays 50% for full-time employees  On site housing where applicable ◦ Utilities, washer dryer,  Sam’s Club  1 complimentary unit (10 x 15 NCC)

8 Rev. 1a - Aug. 18, 20108 People Systems - Compensation  Base pay  Incentives ◦ Income (base bonus)  10% OVER prior year same quarter ◦ Move-in  $25.00 for every lease written OVER the 3-year average ◦ Occupancy  5% sq ft increase of net rentable - quarterly $1,000 bonus ◦ Economic  Rent collected each month current quarter vs. actual occupied potential rates – quarterly ◦ Shelved units  $25.00 for each shelved unit (15% premium!)

9 Rev. 1a - Aug. 18, 20109 People Systems - Growth 1. Incentive base pay ◦ Increase economic and physical occupancy, lower delinquency, higher community involvement, greater conversion rate. 2. Existing self storage experience not necessary to grow business 3. On-going coaching and retraining 4. Objective 3 rd party involvement

10 Rev. 1a - Aug. 18, 201010 Results

11 Performance Based Incentives Enacted

12 Rev. 1a - Aug. 18, 201012 Measure Results, Make Adjustments and Re-measure  Invest in that which is measurable ◦ Contact call center  Recorded calls  Payment processing ◦ Yellow page  Cost of lease by city ◦ Web hosting / SEO  Web leads  Top positions with Google, Yahoo in organic search ◦ Newsletters  No. of opens, no. of click-thrus ◦ Phone calls  Tracking numbers ◦ Pay-per-click  Web campaigns

13 Rev. 1a - Aug. 18, 201013 Marketing Trends – Tracking Internet vs. Yellow Pages

14 Rev. 1a - Aug. 18, 201014 Tenant Sources: How They Found Us

15 15 Average Length of Stay % OF TENANTS 1 YEAR OR GREATER60.02% 2 YEARS OR GREATER41.74% 3 YEARS OR GREATER31.52% 4 YEARS OR GREATER23.39% 5 YEARS OR GREATER17.06% 6 YEARS OR GREATER12.85% 7 YEARS OR GREATER8.84% 8 YEARS OR GREATER5.66%

16 Call Management

17 Marketing Analytics  Electronic Newsletters ◦ 14% open rate  Unique visits to website – 1,900 hits per month  Reduced Yellow Page cost by x% ◦ 2 to 1 inquiries over the web vs. Y.P. ◦ Trend is web leads increasing by x% per month

18 Collections (We Care)  Proactive to mitigate legal risks  Gen 2 ‘We Care’ Proprietary Collection Process ◦ 86% collected (pre-auction/our system) VS. 19% collected (if they actually go to auction) ◦ Stage 1 : Pre Lock Cut - Payment plan, reduced amount to pay (take off late fees and other charges) and vacate (up to a 75% Reduction) ◦ Stage 2 : Post Lock – payment plan which includes payment plan, 75% one time fee to get caught up, 50% reduction in bill if vacate in 24 hours ◦ Stage 3 – Contingency bid on day of auction

19  Yearly ◦ We will conduct and report on 3 rd party Audit ◦ Complete breakdown of expenses ◦ 12-month occupancy ranges ◦ Full analysis of rates to determine rate increase ◦ Full analysis of competition and market rates ◦ Management teams performance evaluations along with any compensations recommendations ◦ Forecasted upcoming year budget by Nov. 1  Quarterly ◦ Audits with executive summaries. ◦ One meeting between to discuss store progress ◦ Reports that show occupancy standings, move in/move out reports, management summaries and store level activity ◦ Breakdown of any additional expenses Expectations of Gen 2

20 Unlike other management companies…  You keep (*) ◦ The accounting ◦ Your own mortgage payments ◦ Your own web site BUT linked to ours to improve SEO  (*) You can assign certain functions under a separate Asset Management Agreement  Lastly, we analyze all business data points so that it’s tuned into the changing demographics and the needs of the owners

21 Investment  By Gen 2 ◦ Branding option ◦ Policies and procedures - $3,000 ◦ Full 3 rd party audit - $1,500 ◦ Manager’s training manual - $1,500  By Owner ◦ 6% or $2,500 per month ◦ Management software conversion - $2,000 / one time ◦ SiteLink web edition - $2,160 / annually ◦ Contact center - $300 / month (488 additional hours @.62 cents!) ◦ Web hosting / SEO - $360 / month

22 10 Reasons Why You Want Us... You no longer have to worry about; 1. People – Hiring, theft, firing, covering, training, coaching 2. Site reviews / audits – Boring, repetitious, needed 3. Meetings, meetings, meetings, travel, travel, travel 4. Internet Presence---having to deal with all the nuances in today’s market 5. We have the vendors and service providers 6. Lock cuts / sales 7. Facility Maintenance - roof leaks, cleaning gutters, driveway repairs, arranging for blacktop, doors, HVAC, power outages, etc. 8. Revenue management - remixing units, prices, competitive market analysis 9. Reports and watching the details 10. Payment processing, payroll, check writing, taxes (withholding, payroll, city, state, federal, sales, workers comp., FICA, etc.)

23 Conversion Process Agreements > Property Management - Asset Management - Final Budget - 3 Months working capital > Policy and Procedures - 60 hours > Website enhancement - Search Optimization - Call Center - Other Branding ? Full site audit Tenant data conversion Orientation & training > Lease conversion – Market analysis – Rate Adjustment – Site performance measures Operational changes Marketing strategies > Facility Inspection – Unit Status Inventory and Reconciliation – Rate Variations – Review Bank Deposits > From existing site management system to SiteLink web edition


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