Frequent asked questions
Some of the most common questions about partnering with Storage King Management 1st are below.
How will Storage King Management 1st help operators maximise value from their self storage property?
Storage King boasts a skilled management team with over 100 years of collective industry experience. We have a deep understanding of the self storage market, both locally and internationally, which means we know what it takes to operate a successful self storage property.
Our highly skilled operational, marketing and asset management teams are the very best in their fields and will work alongside you to unlock the value of your self storage property. Your property will benefit from a sophisticated operating platform that will maximise revenue and increase occupancy, while our Facebook and Google accredited in-house digital marketing team will improve your enquiry generation.
When should an operator consider a third-party management platform?
A third-party management platform is ideal for those that are new to the self storage industry, established operators looking to improve performance or simply looking for an experienced and credible team with market scale to look after their property.
How will your marketing team assist with enquiry generation?
Our Google and Facebook accredited in-house digital marketing team will improve your enquiry generation from both a quantitative and qualitative perspective, driving new enquiries through website development, social media, search engine optimisation and pay-per-click advertising.
With access to the latest social media and Google developments, Storage King Management 1st will give you the opportunity to be at the forefront of current and emerging digital trends.
What should you look for when choosing a third party management company?
A management company must be able offer you the platform to maximise the value of your property through a combination of operational, marketing and asset management expertise. Experience and a deep understanding of the local self storage sector is crucial as their industry knowledge and skillset will ensure you achieve impressive growth in revenue.
You need to ensure that the management company you choose has a solid track record and is able to increase occupancy through a combination of exceptional customer service, effective marketing and operational excellence.
A company that has a thorough understanding of digital marketing trends and an efficient contact centre will significantly impact the revenue that your property produces.
Are there prerequisite requirements to become a partner of Storage King Management 1st?
There are a number of prerequisite requirements, which include:
- A minimum MLA of 30,000 sq ft or 400 units
- We cannot partner with container operators
- You will need to meet certain security infrastructure requirements
- You will need to comply with fire, health and safety regulations
For a full list of requirements please contact us here.
What are the setup costs for partnering with Storage King Management 1st?
Every self storage property is unique. The pricing structure will be determined by each individual partner’s needs and the setup of your property. Our experienced team will conduct a thorough assessment of your property and present a breakdown of costs accordingly.
Factors such as signage requirements and existing store features will impact the setup costs associated with becoming a partner with Storage King Management 1st. The Return on Investment (ROI) on this initial outlay will be recovered in the short-term through improved occupancy and revenue.
What are the ongoing management costs for partnering with Storage King Management 1st?
The management fee with Storage King Management 1st is based on the gross revenue of your property. Included in the management fee is a wide range of services which are all focused on maximising the revenue of your self storage property. These include revenue management, property design advice, asset, marketing, sales and operational management expertise.
As with setup costs, ongoing costs are dependent on the unique features and requirements of each individual self storage property. Property-level expenses are passed on to the owner.
Our experienced team will guide you through the structure of these costs.
How long does it take to transition my property to be managed by Storage King Management 1st?
The typical transition with Storage King Management 1st takes between two and three months. In certain circumstances however, this transition time can be shortened depending on various factors. Following the initial assessment of your property, a transition time frame will be presented.
Will you help me develop my self storage property?
We will work alongside you from as early as possible during the development process to offer guidance on asset and operational processes to maximise the potential of your development. Such consultation costs are dependent on the unique features and requirements of your self storage development and will be agreed upon in advance.
What happens to existing staff that are employed to work at the property?
At Storage King we pride ourselves on our staff. In almost all circumstances, existing staff will remain onboard, being given the opportunity to transfer to the Storage King brand.
Our HR team will facilitate this during the transition process.
Will my signage change if I partner with Storage King Management 1st?
When you become a partner of Storage King Management 1st, all branding will need to be changed so as to reflect the Storage King brand. Our team will discuss the details of this during the initial assessment and manage the entire rebranding process.
These costs can vary depending on the setup of the property.
Will I still be involved in the daily operations of my property?
Storage King Management 1st offers you a hassle-free partnership with all the day-to-day functions being managed by the our team. You can rest assured that your property is in the hands of one of the most experienced and knowledgeable self storage companies in the UK with an impressive track record.
We place a high value on relationships and will keep you informed of results and projections of your property.
Is there a difference between owned and managed properties in terms of what they receive from Storage King?
No. Each property that forms part of the Storage King portfolio, whether owned or managed, receives the same amount of attention to detail and access to resources. Our operational, asset management, marketing and sales teams will work with each property equally to ensure they achieve the best returns possible.
What if there is already a Storage King property nearby?
There are benefits to having multiple properties in a specific area as we are able to better control pricing, be more flexible with discounting and offer customers alternative options should certain unit sizes not be available at a property. There is then the added benefit of better brand recognition.
What if I want to sell my facility to you?
Our investment strategy is focused on further growing our portfolio and so we would welcome the opportunity to discuss acquiring your property, should it meet certain criteria.
We frequently acquire properties across the United Kingdom that form part of our management portfolio.
If you have any questions not covered here, please contact a member of our team and we will happily assist.
