Summary
In this episode, Rick and Megan discuss the nuances of hiring in the self-storage industry. They highlight the importance of finding the right person for the job and the impact it can have on a facility's success. They also explore common hiring biases and fallacies hindering the hiring process. The conversation covers fair wages, bonus structures, and creating a positive work culture. They also discuss hiring hunters (aggressive sales-oriented individuals) and farmers (consistent and stable workers) based on the store's needs.

Takeaways

• Hiring the right person is crucial for the success of a self-storage facility.
• Common hiring biases and fallacies can hinder the hiring process.
• Fair wages and a positive work culture are important factors in attracting and retaining employees.
• Hiring hunters (aggressive sales-oriented individuals) and farmers (consistent and stable workers) based on the store's needs can be an effective strategy.

"Hiring hunters (aggressive sales-oriented individuals) and farmers (consistent and stable workers) based on the store's needs can be an effective strategy."

Reach out to us at
info@atomicstoragegroup.com

In this episode of The Storage Playbook, Rick and Megan discuss the importance of customer feedback and how it can be transformed into actionable strategies to improve service and drive business growth in the self-storage industry. They share strategies for obtaining feedback, including surveys, and highlight the significance of feedback for self storage properties.

Takeaways

• Customer feedback is crucial for improving service and driving business growth in the self-storage industry.
• Surveys are an effective way to obtain feedback from customers and employees.
• Feedback from customers can lead to actionable improvements, such as addressing access issues and enhancing security.
• Employee feedback is valuable for improving leadership and company policies.
• Encouraging customer reviews can help boost online reputation and attract new customers.

Reach out to us at
info@atomicstoragegroup.com

In this episode, Rick Beal and Megan Smith discuss the impact of large self-storage operators on rates and the industry. They explore the consolidation happening in the self-storage sector, where major players are acquiring smaller and larger facilities at an unprecedented rate. This consolidation has resulted in a marketplace where a few companies have considerable influence over pricing structures. The hosts also discuss the implications of this trend for consumers and small owner-operators. They emphasize the need for owner-operators to adapt to the changing industry landscape and provide strategies for navigating rate games and handling rate increases.

Takeaways

• Consolidation in the self-storage industry leads to a marketplace where a few large operators significantly influence rates and pricing structures.
• Small owner-operators face challenges in marketing, revenue management, and compliance with new regulations.
• Owner-operators must focus on local presence and connections to compete effectively in their markets.
• Playing rate games and implementing revenue management strategies are crucial for owner-operators to stay competitive.
• Handling rate increases requires effective communication and education to help tenants understand the reasons behind the increases.

Reach out to us at
info@atomicstoragegroup.com