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Cost Cutting Management Ideas for Self Storage Industry
There is a movement in the self storage industry in which local self storage facilities are looking to outsource the management and accounting responsibilities to a third party.
At Inventive Property Management, we offer many of the same services as the national companies, however ours focus on ways to automate many of the tasks, and run multiple facilities out of a single location. Instead of having a physical person onsite at all times, you could manage three or four different facilities from a single offsite office location. You can imagine what this does for labor costs and how this helps with pricing.
With the use of technology you can have payments sent to a third party, which helps eliminate the large amount of time used in the office posting and working on payments. Futhermore this helps to eliminate many of the opportunities for theft or stealing. With the use of cameras and other video technology you can keep an eye on multiple locations from a central office.
You can also have a central location in which prospective customers or current customers can go to in order to rent a unit, or get some sort of service that is needed. There are many business models that use this same type of concept but for some reason, it has not made it's way to the Self Storage Market.
We believe this is a way to increase the profitability of storage units and facilities dramatically. Imagine if you were splitting your labor costs over three facilities instead of one, what that alone could do. Not to mention saving on costs such as running an individual office at each facility.
Page Updated Last on: Mar 11, 2013