Does Anyone Have Experience Buying Separate Self-Storage Businesses?

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12/02/2020 Redacted Redacted

searcher Thunderbird School of Global Management University of Michigan - Ann Arbor

DOES ANYONE HAVE EXPERIENCE BUYING SEPARATE SELF-STORAGE BUSINESSES?

I am interested to see if there are any case studies or roadmaps for consolidating independent self-storage businesses in a geography and then unifying under one brand? This is my initial idea into starting my own business. 

Thanks!

2 likes 133 views 18 comments

admin Massachusetts Institute of Technology - MIT Sloan School of Management Taylor University Stanford University - Graduate School of Business - 12/02/2020

^[redacted]‌ - There are at least 18 IBISWorld reports that cover the storage industry. You can find IBISWorld reports under the Industries icon at the top of this page. Here is the direct link: www.searchfunder.com/ibisworld/. ^[redacted]‌ or ^[redacted]‌ may be able to provide more specific insights if you can't find exactly what you're looking for.

like reply | 0 likes

admin Massachusetts Institute of Technology - MIT Sloan School of Management Taylor University Stanford University - Graduate School of Business - 12/02/2020

Also tagging a few Searchfunders that have commented on the storage industry in the past and should be able to share whatever insights they previous gained: ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌. (To my commenters, THANK YOU for making Searchfunder a helpful community. We appreciate it.)

You may also have luck reaching out to ^[redacted]‌ and ^[redacted]‌ via LinkedIN who acquired a large number of cold-storage units in Mexico.

like reply | 1 like

searcher Duke University - The Fuqua School of Business University of Virginia - 12/02/2020

Thank you ^[redacted]‌. ^[redacted]‌ I have done a lot of research into B2B portable storage. Happy to chat if that sector is of interest.

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searcher University of Pennsylvania - The Wharton School - 12/02/2020

what's self storage?

like reply | 1 like

searcher Thunderbird School of Global Management University of Michigan - Ann Arbor - 12/02/2020

Thanks for the quick feedback --- I will search the IBIS industry reports as well. ^[redacted]‌ basically a rental of a storage unit for people's belongings --- my idea is that this can be a very low overhead business with minimum maintenance

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searcher Thunderbird School of Global Management University of Michigan - Ann Arbor - 12/02/2020

^Josh Kowitt it looks like you have a lot of experience with storage too!

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searcher University of British Columbia - 12/02/2020

Nick Huber does this and shares a lot of in-depth info with real deal info on twitter, youtube and his website: https://sweatystartup.com/

Here's some good places to start:
https://twitter.com/sweatystartup/status/1318987122779586561
https://podcasts.apple.com/my/podcast/127-nick-huber-building-%2410m-self-storage-business/id1469759170?i=[redacted]

like reply | 1 like

searcher University of British Columbia - 12/02/2020

should add, he also does paid consulting on self storage deals

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searcher Thunderbird School of Global Management University of Michigan - Ann Arbor - 12/03/2020

^[redacted]‌ great resource and a good story. already deep into the site. really appreciate it!!!

like reply | 1 like

searcher The University of Chicago - Booth School of Business Fort Lewis College - 12/03/2020

@Ethan David - Curious as to whether you've taken this forward since December. I'm considering some properties in the SW.

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searcher The University of Chicago - Booth School of Business Fort Lewis College - 12/03/2020

Ha, just noticed that you posted this today, not last December. If you've made progress, I'm impressed!

like reply | 0 likes

searcher Northern Alberta Institute of Technology - 12/03/2020

Reach out to the guys at Storage Capital

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searcher University of Chicago Columbia University - Columbia Business School - 12/03/2020

I'm an investor in ss. If you don't have any competitive insight or experience in ss this may be a challenge. There are plenty of mid size and larger players who are doing this.

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investor University of Nebraska - Lincoln - 12/04/2020

Take a look at the storage REITs. Public Storage (NYSE:PSA), Extra Space (NYSE:EXR), CubeSmart (NYSE:CUBE), Life Storage (NYSE:LSI), and National Storage Affiliates (NYSE:NSA)

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searcher INSEAD American University in Bulgaria - 12/04/2020

I have done deals in the space; to me it looks like a leveraged bet on the real estate, with a yield play that comes from the storage service. I may be a prisoner of my own experience here but what I saw is that there are limited operational synergies - it is just easier and less risky to manage your cash flows if you have a portfolio of assets, rather than just a single unit.

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searcher University of Notre Dame Indiana University South Bend - Judd Leighton School of Business and Economics - 12/04/2020

2nd Nick Huber. Great follow on Twitter as well.

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searcher Vanderbilt University - Owen Graduate School of Management Auburn University - 12/07/2020

3rd Nick Huber. Ha.

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University of California, Los Angeles - UCLA Anderson School of Management Stanford University - 12/23/2020

I am sticking my foot in the self storage waters, if you ever want to chat.

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