Development Advice and Lease-up with Art Wendt
Self-Storage Ninjas’ most honorable client Art Wendt wrote the book on hard work paying off. From picking the right contractor to fixing roofs, the right choice is action. His successful self-storage facility, Triner Storage, in MS, is a testament to that work ethic. Their facility filled up in only three months, and is currently at 95% occupancy.
“You just have to have faith in yourself and the people helping you make decisions,” Art says, speaking on how hard work still leads to success.
Even when facing a delayed opening, Art took action. “We were having a couple of issues with the roof leaking when it rained heavily. It wasn't bad, but it was enough to concern me not to open. We’ve got that fixed now. I went up there and sprayed the whole roof with flex-seal.”
Art lives by a mantra, “Just try one thing. If it works, you stick with it.” he explains.
Art reflects on the variables that supported such a successful opening, “COVID really helped out the storage industry.”
COVID closed a lot of doors, but in some industries, it opened more paths than ever. People were looking for places to store their belongings, in-between situations to navigate the changing flow of the working world and beyond. Those changes haven’t stopped. It’s not a secret that we’ll be feeling the effects of the pandemic for years to come—for Art and many like him, this means steadier business.
Something that may not seem important, but could mean the difference between profit and loss, is building relationships with the competition.
“They [competing facility] have three facilities out here, and they actually came and visited and brought us a meat and cracker tray to introduce themselves.” Art shares. That opened the gate for passing referrals to one another and creating a profitable co-existence.
Art’s Top Tips
“What I would suggest for anybody new doing this would be to make sure you have your storage facility on Google Maps and Apple Maps. Apple maps were a very long process. They seemed to get around to it whenever they felt like it. Google maps were instant. So that's key, number one.” Art suggests.
“And number two, what I did was I signed up for SpareFoot, and I went ahead and took our rates on every unit when we're empty. And just because their fee is two times your monthly rate, if somebody moves in, I said, ‘All right, well, I'll give this a shot,’ and I'll spend—It was around 30,000. That was my max. And they said they probably filled up 70% of it. It was so quick,” Art says.
Another tip for anyone starting in the self-storage industry is to get the best pictures you can afford, “Make sure you have really good photos.” Art stresses, “I used a company that did a 3D scan on the inside. So you can do a [virtual] tour. And they used an AXIOM 360-digital median.” People respond to strong visuals—putting your best brand foot forward starts with the facility's presentation and quality.
When it comes to spreading the word, Art swears by StoreEDGE. “The software I used [for website and property management] was StorEDGE. It's amazing and user-friendly.” Give it a look if you’re in the market for website and property management software.
The most important advice comes in the form of a solid, reliable contractor who knows their craft and takes the construction reins flawlessly.
Art’s top book recommendations for developers new to self-storage are Skip the Flip by Hayden Crabtree and The Compound Effect by Darren Hardy
Looking Forward
Expansion is what’s on Art’s mind for the future, and by biding his time, he scored 900,000 square feet in a new location. Art got a killer deal by being patient and looking closer at his options.
Right now, Art is overseeing the completion of their Phase Two—parking and outdoor storage, complete with an irrigation system and lighting. They're in the thick of construction, but that hasn’t stopped their momentum. “People drive by and ask me about it [the new spaces], so we already have some reservations.” Art says.
Hard work pays off—be consistent, build relationships, and don’t be afraid to talk to the competition.
Head over to the Triner Storage website to learn more.