Considerations before the Launch of a New Store

When launching a new self storage facility, whether it’s your first or one of many, there are always things to consider. Today more than ever, it is crucial you have everything in place to ensure the success of the store before you open your doors.

Web presence

Many people will already know where you are, so give them details of the business by putting up banners which display the name and nature of the business, the web address and the local phone number. Then the enquiry cycle can commence.

Setting up the website early ensures you establish a good listing with regard to search engines. You should set a budget for spending on the optimisation and it must be reviewed monthly. The web page can be developed as the business grows. New staff can be recruited through job advertisements on the company website and the on-site banners will also direct potential employees to use the website to apply for any vacancies.

Don’t forget that brand awareness is extremely important to any company.

Pricing structure

You must decide on your position in the market. For example, will you offer 24hr security, 24hr access or business hours only? Will extras be charged for as add-ons, or is it an all-inclusive price?

A pricing hierarchy will have been established during the business appraisal. Each room will have to be priced. It is a good idea to compare your prices with those of local competitors. You may also consider what you offer to customers and how this adds value. If your business is more convenient, situated in a better location, or offers more features and benefits than other local businesses, then this adds value to your store and customers will be prepared to pay if their needs are met.

Pricing and discounting are key to running a profitable business. Underpricing and overdiscounting may well drive up occupancy, but they will kill revenue and profit. Likewise, overpricing will restrict revenue and occupancy growth. Pricing and discounting should be reviewed weekly and monthly. You should review each category of room size and revenue-manage accordingly.

Leaflets and announcements

When the building is nearing completion you can begin a ‘leaflet drop’ campaign to boost local awareness of the new business. It is a good idea to start this around twelve weeks before the store opening. Repeat the ‘leaflet drop’ at around eight weeks before the store opening and include any opening offers or enticements.

Four weeks before the opening you should announce your opening date and advertise any opening offers or deals for early bookings. If your budget allows, place an advertisement in the local newspaper. Maintain your theme and brand consistency so that your potential customers know your message.

Recruit your Manager at least twelve weeks before the store opening, or at least in time to involve him or her in the pre-opening marketing campaign. After all, the Manager has the responsibility of driving the business forward and producing positive results. Your Manager can also join the local Chamber of Commerce and Business Networking groups. This will help build trade and business links.

Obviously there will always be eventualities that can’t be planned for and this list is by no means exhaustive but getting these things in place early will give you the best chance of surmounting whatever unforeseeable snags do crop up.

Author bio: Graham Gunn, Director at The Self Storage Company, has ten years of experience in the self storage industry, having spent six years with one of the UK’s largest operators followed by consultancy for small and medium operators. The Self Storage Company operates from two locations: Waltham Abbey and a new store in Welwyn Garden City.