How To Partner With Storage Facility Owners and Create More Leads
Some of the best ideas come from “outside” the mortgage industry. Read other publications or just simply brainstorm with other business owners.
I recently ran across an article on how owners of Self-Storage units can market themselves.
There is ONE idea that stood out above the rest. It’s an event where your past clients make money; help the storage facility rent units; involve your local charity and of course, YOU get more leads.
How?
By holding a group yard sale?
Let’s face it--we all have a lot of “stuff”. Partner with the self-storage unit owner and create a yard sale event where people who currently rent units from them can sell their stuff; where your past clients can rent a space for the day; and where you can co-market to apartment complexes and surrounding subdivisions. Both of you will benefit. Usually everyone has storage problems. You will benefit because you can offer a free credit report to everyone.
A yard sale is a great event for a facility that is not fully rented. It brings in a lot of foot traffic for very little expense and effort.
You simply offer businesses, apartment complex tenants (visit to get mailing lists), your past clients and local residents (located near the facility) the chance to rent a unit for a day and sell their stuff.
Why it's a Win-Win
The self-storage units are a perfect location because the space is covered so no need to worry about items getting wet. Since it’s being held in one location, people don’t have to get in their cars and travel from yard sale to yard sale.
The reason the owner would consider partnering with you is to get people to check out their facility and attempt to rent out the remaining units.
You on the other hand, are providing an opportunity for your past clients to get rid of their unwanted stuff. However, you would also ask for a space to offer a free credit report to anyone who wants one.
The Costs
The cost for marketing and advertising is about $400. This covers the cost of flyers (manually delivered to surrounding businesses and subdivisions), the cost of mailing a flyer to several apartment complexes, to mail to people currently renting the units, and the cost to mail to your past clients.
Another $200 should be allocated for soft drinks, coffee or snacks.
Planning the Event
At least 8 weeks in advance – Send out a flyer asking people to participate in the event. This gives them time to decide if they have the time and plan what to sell. Let them know the “rental fee” and ask them to call if they are interested in participating. Ask the facility owner to create a “registration form” that can either be emailed or faxed to reserve a unit.
Charge a rental fee for the day – It is recommended that the rental fee for the unit be about $10. It has to be inexpensive for people to participate. By charging a fee, you decrease the number of no-shows because they have invested their money ahead of time. People who already rent storage units are free and can simply open the door and sell their unwanted items.
At least 2 weeks before the event – Send out a flyer marketing the event again. Give people another chance to participate. Again, distribute flyers and mail to apartment complexes letting them know the big event is just around the corner.
About a week before – Run an ad in the garage-sale section of the newspaper on the Thursday and Friday before the event. Hold your event on Saturday from 7 am to 1 pm.
Arrange for soft drinks, pre-packages snacks and coffee. Buy from a wholesale company and rent a large coffee pot. Consider contacting a local bakery to provide rolls or cookies in exchange for you including their name on the flyers.
Create a way to track attendees - Consider offering a door prize (could be donated for another local business or could be a free storage unit for 3 months) to get people to fill out their names, addresses and email. Set up an area where you can provide a free credit report (and mortgage information) to anyone who signs a credit authorization form. A one-merge, in-file credit report with one score will cost you about $4 per person but these are the people who may be interested in buying or refinancing their homes.
For people who decide to rent a unit and sell items, here’s a list of suggested rules:
- No alcoholic beverages.
- Cannot sell the following items: Food or beverages, animals, adult entertainment items, drugs or drug-related items.
- Sign a one-day lease agreement.
- Everything must be removed after the yard sale is over
Another suggestion for left over items would be to ask Goodwill or Salvation Army to have a truck at your yard sale so people can donate unwanted items. It would be up to the charity to decide what they will accept.
From a marketing perspective, it’s also worth mentioning in your marketing flyer—that they have the option to donate unsold items to charity.
How does everyone benefit?
You are included in marketing flyers and have a venue to offer free credit reports. Since you are inviting apartment dwellers, distribute free reports on the mistakes 1st time homebuyers make buying a home.
Storage facility owner gets people to his/her location and offers a door prize to obtain names and email addresses to continue to market to them.
The local charity can collect more items—and they don’t have to drive from home to home to pick up.
One last thing! If you are planning on working with a charity, be sure to fax a press release to your local TV and radio stations so they can help promote the event!
* * *Karen Deis is President of Foundation Marketing, Inc. which specializes in training real estate agents and loan originators on consumer-direct marketing strategies. She owned a real estate company, mortgage company and appraisal firm for 10 years and was a business partner with one of the largest builders in her area. For more information on sales and marketing go to www.LoanOfficerMagazine.com. 
