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Most great things start with a Jump. And often it’s a big jump for most people. But without the jump or leap of faith things will be the same as yesterday and the last 5 years. It takes that jump to get to the next level. And if you are a go-getter who is disciplined and never gives up, we will see you at the top.
Most people will never take the first step to open their own business a huge step toward wealth. I often hear when I do more research or when I finish my new project at work, or when the economy is better or after the kids are older or when this or that happens and they never jump. Why not you why not now?
Of course, each of our franchisees felt like they were jumping off a cliff. But they were taking a leap of faith in their belief in themselves, self storage, and Storage Authority. The most successful people not only have belief but also a relentless work ethic to learn, get better and make it happen.
I guess the tough part for most people is there is no guarantees. A few years after I owned my own engineering business my best friend, an engineer, was looking to change companies. I offer to him a great position with good ownership opportunities. He eventually took a job with the state because it was secure and had a good retirement pension. When I built my first self storage I asked if he wanted to be a partner. He said he would watch the first one to see how it worked out and to let him know if I ever built a second one. When I was ready to build my second one, two years after my first one I was excited to see if my best friend was ready. He was not. So, I get it. Owning a business is not for everyone.
Since I built my first self storage in 2007 I have heard hundreds plus people tell me I was going to get into self storage a long time ago (when it was easy). Well, it was never easy and in fact, now it is much easier because many lenders want to make self storage loans. This is because self storage has one of the lowest, if not the lowest failure rate, for real estate businesses. And better yet now SBA loans are available for self storage so you can often get started with half the equity that a traditional bank requires.
And of course, I am often told it was easy for you because you are an engineer. That’s worth a good laugh. Go ahead and visit 100 self storages and I bet not one is owned by an engineer. I was in the same boat as everyone for my first self storage. But since then I have made a consistent effort to become a self storage expert so now yes it is much easier for me. And I am ready to share with you.
I think I will build one more self storage in 2023 just for the fun of it and to prove now is as good as any time. Does anyone want to be my partner? It’s going to be a bunch of work. But for me, it's all about the journey.
But I highly suggest you build one for yourself and not partner with me and lose half your profits. And if you want the systems and experience behind you check our Storage Authority Franchise FAQ’s at www.storageauthorityfranchise.com/ and then send me an email.
See you on the other side.
Article originally posted on www.storageauthorityfranchise.com/blog-news by Marc Goodin on September 4th 2022.
Marc Goodin is President of Storage Authority Franchising. He owns 3 self storages he designed, built and manages. He has been helping others in the self storage industry for over 25 years. He can be reached at marc@StorageAuthority.com or directly at 860-830-6764 to answer your franchising, development, marketing, sales and operations questions. His best selling self storage books are available at amazon.