Gavin ShieldsCEO Driving Innovation in Self Storage Tech

Dean Booty on the benefits of unstaffed self storage #shorts

9 Aug 2024 · 1 min

Watch on YouTube

1:14

Short YouTube clip where Dean Booty describes benefits of running unstaffed (manless) self-storage sites. He cites Clough Road (projected £500,000 revenue; ~£100,000 rent; rates just under £20,000) and a Wrexham site that, after becoming manless, more than doubled revenue and increased profit about tenfold from ~£12,000/year. He emphasizes technology enabling cost reductions and turning previously unprofitable sites profitable.

Questions this video answers

£500,000

£100,000 (around)

Just under £20,000

About £12,000 per year

More than doubled revenue and approximately 10× profit

Chapters

The biggest difference for us it's the ability to be manless. I mean Clough Road is just a fantastic site. This year we'll take half a million pound on Clough Road and the, the rent is around about 100,000 pound. The rates are just under 20,000 and yes, there is the occasional problems and like James said, it's, it's literally a 20 minute drive for me. But it was nice to dip our toe in the water to make sure that it was possible. And then we bought a site in Wrexham and Wrexham, the reason why I knew it was so valuable was because we, we knew we could make it manless. And it wasn't me making people redundant, it was retiring, they didn't want to work anymore and I knew straight away that we could utilize that, their wages to, to make the site manless. And fast forward 18 months now, we've more than doubled the revenue with 10 times the profit. And by the way, there wasn't making much profit. There was only making like a 12,000 pound a year profit. And then we've decreased the expenses as well and it's just been a massive win. So the technology out there is incredible because we can leverage the technology to make our cost less and make something that didn't add up before add up.